It’s been a while since I’ve posted on this blog, but I’m back. I wanted to talk a little bit about the power of focus and how it is a necessary component to business success for startups.
I’ve been working with entrepreneurs for a while now. Having been a scientist in my former life, I’m trained to observe. I’ve found that most entrepreneurs are great idea generators. However, I’ve also observed that making a new venture a success requires a commitment and focus that most people have a hard time with. It’s the rare entrepreneur that can put off his or her “new idea” and keep focus on the core of his or her business. Successful serial entrepreneurs often manage to delay the implementation of a new idea until they meet with some success on their current venture.
Within you business, you need to prioritize your use of capital, human resources, and physical assets. But you also have to realize that you are a fixed resource; there are only so many things you can do at once with great effectiveness. Trying to pursue too many opportunities at once is a surefire way to confuse your team, and waste capital. Do yourself and your investors a favor, and execute your plan with focused intensity. One idea at a time.