“It is always safe to have multiple streams of income, you can be involved in four different fields/businesses so that when one fails the other one can give profits” Does this sound familiar to you?
Last week before starting my MBA evening class at UNILUS a colleague sat next to me and shared with me the many plans he has, ranging from Technology to farming. Being a good looking young man I looked at him in the face and questioned him on what was easier between having one girlfriend and managing multiple girlfriends. As I expected he confirmed that having one was easier based on focus, time, attention and resources.
Avoid Diversifying & Succeed.
This same principle applies in entrepreneurship. I have heard times without number people talking of the need to have multiple sources of income. My question is, tell me one successful entrepreneur who started out doing many things? Bill Gates it was Microsoft only, Mark Zuckerberg was Facebook only, Jeff Bezo was Amazon only, even local entrepreneurs like Mikalile it was furniture, Lawrence Sikutwa-Madison. They later diversified only after their businesses had grown and could operate independent of them.
The common thing I have seen with armature local entrepreneurs is that you see someone doing well in Real estate you want to join, someone doing well in technology you want to join, someone doing well in a whole different business you want to be there.
I would rather you stick to one thing and be the best at it. Bruce Lee once said “I fear a person who has practiced one kick 10,000 times than one who has practiced different kicks a 100 times each because if you are given a kick which has been practiced 10,000 times then you are knocked out instantly”
I remember the first company (Gladtidings Software Ltd) we started with two other friends. we just had one product which was a School management system called Gladtidings E-School. This is all we marketed…… it will surprise you to note that from this one product we made enough such that I was able to start my Transport business. We grew reasonably big to a point that up to date Gladtidings E-School is the most used School Management System in Zambia.
Be The Best of All.
If you aspire to be a successful entrepreneur, the only way you’re going to achieve that is by focusing on one thing and doing it better than everyone else. It’s better to be known for and to do one thing extremely well, than to do many things averagely.
My message to you is don’t be a Jake of all trade and master of Non.Improve your country, As you improve yourself.