Ask any business consultant or internet marketing guru and they will tell you that you should focus on one are. Go Deep in one niche, one customer segment, master one product, one strategy, before moving on to another.
I have said this to people myself, and I feel it is true advice. It increases your chances of success exponentially. Not only does it make you an expert in what you are doing in shorter time, it will give you quicker success, less mistakes, and increase you optimism about your chances of business success.
SO . . . the big question is why don’t I do it?
My online business is not a mile wide – it is miles wide!
And not very deep or focused in any particular area.
True I have not been really at this game very long. I have been on the internet, playing around at trying to make a bit of money for close to 10 years. But I only really decided to get serious about it just this year in March. Before that it was simply a hobby.
So back to why I chose to make my business very wide, and as of yet, not very deep.
Well, number one – I am thinking big, and thinking long term. That can be a downfall, as it may set me up for failure, but I hope not.
Number two is I plan on leveraging my time. I know I do not want to be a one-man shop. I will be using a number of different ways to leverage my time, i.e. get other people working for me. From employees – both full time and part time, to contractors and affiliates, these all play into my business plan.
Number three is I am not doing this full time yet, I still have a day job. Because of that I cannot put as much time in as I would like, and cannot act on things quick enough. Therefore to focus on one area, and have it change, could be quite risky. If I diversify, and one area changes so it does not do as well, I still have other areas that are doing great.
And finally, number four is that I love diversity. I like to have my hands in many things. That is what I want and love. – So it is my business – and I do it that way.
But, just so you know, if you ask – I will recommend deep focus, pick one thing, master it, do it well, make money, then move on.
It’s just not the way I want to do it.