Are you always looking at the next money-making opportunity?
Do you have a hard time focusing on one thing at a time?
Why is focus such an important part of starting an online business?
This picture says 1,000 words about the importance of focus:
Now the explanation:
Let’s say the little girl (my neice), is your first online business. You’ve worked hard to get everything set up: finding the suppliers, keyword research, web design, etc.
Your new online business is now “on the dance floor” ready to make a move…
And you start looking around for a new partner. What are you thinking? You have to stay focused if you want anything to come from all your hard work up front.
Entrepreneurs have a tendency to always be thinking of new ideas and can be easily distracted. As it says in the book “The 7 Habits of Highly Effective People” by Stehpen R. Covey,
Effective management is putting first things first. While leadership decides what “first things” are, it is management that puts them first, day-by-day, moment-by-moment. Management is discipline, carrying it out. (p.148)
You’ve started your first online business but don’t look beyond the mark! Continue to reassess what you’re doing everyday to make things happen and grow.
Yes, eventually you will be able to expand and grow in to new endeavors that hopefully tie in with your first success, but don’t start “looking for other dance partners” too soon or your initial find will be TICKED (as this little girl was).
Love it! Great anology Nate. That picture rocks.
Thanks for the comment Kaly! Look forward to discussing things with you more via comments and Twitter! Talk soon!
Nate, this is a brilliant picture for this post. I love how he’s distracted by something, and she looks mad, jealous, or wondering why he’s not paying attention to her. I love it.
Here’s a question for you – I’ve been blogging each Friday about my “multiple streams of income,” would you say that’s going against what you are saying here? You can see my posts here.
@Jason Thanks for the comment! I too think that multiple streams of income is a great concept when applied at the right time. What I’ve found is that if I haven’t built a solid direction with one stream, the others are all fairly weak at best.
To me, the best way to build “multiple streams of income” is to start with one passion and then create branches of that business. Here’s an example:
They different streams are closely related and one thing leads to another. Another key is not being afraid to outsource some of the day to day stuff so you can do what you’re best at.
Additional thoughts?
One of my favorite quotes: “There are many things in life that will catch your eye, but only a few that will capture your heart. Pursue those!”
Unfortunately I haven’t necessarily followed my own advice since I started having kids 6 years ago. In trying to find a way to work from home, I feel that I’ve gone in a lot of different directions…not focusing enough to be successful in any one direction. And maybe that’s okay right now as long as I’m “succeeding” with my kids, but your advice is helpful as I think about how I ought to be spending my time in my business endeavors in the future.
The main question that Jordan had that is hard to answer exactly is:
I was lucky because my first online business started out as just a hobby. I obviously wanted it to be successful but didn’t really know how successful it would be. Once I saw that there was really something happening, I decided to focus more and go for it.
I also get the question about when and why I decided to branch out to other online businesses. I don’t know that there is a perfect answer – it all boils down to looking for joint ventures that will help speed up the growth of your initial idea. My second online business was an easy fit with the first: video and photography targeting dance competitions (something I already knew quite a bit about).
So, not sure if you wanted all this extra info but too bad 🙂 Keep the questions coming!
lol, good picture, I always find myself doing this jumping from one opportunity to the next, you should write a post on how you determine what the most important things would be pertaining to an online business.
Great idea! Stay tune for an article about the most important things to consider when starting an online business. Thanks for the feedback.
I’m really starting to enjoy my new online adventure. I believe the key for me, when compared to other things I’ve tried to do, is that I love what I’m doing now. I am an educator and confident in what I know and do; however, I’m also excited about learning new things. Gradually, I’m becoming familiar with the new terminology.
In addition, this experience has helped me become a better teacher. It has been a gentle reminder of how students struggle with new concepts because often they are just trying to grasp what the vocabulary means. Luckily, you have patience with me just as I have with my own students. Thanks much!