About 2 years ago I had the bright idea that I could multitask by managing or launching 5 different businesses. I had just come off an affiliate management gig, so I figured that it was the right time to work on 3 online businesses and 2 offline ones.
This blog is the only survivor out of the lot. The victims included a half-completed MMO RPG game that took about a year’s worth of time and about $50,000 of capital. The framework and content is still there, so I might still launch it sometime in the future.
But the big mistake then was thinking that with 5 projects, I could spend a day or two on each project and still come out ok.
It sounds good in theory, but is pretty flawed in execution. That is unless you’re consistently pulling 14-hour days.
It might be my male mind, but focusing on 1 or 2 tasks, helps me put in my best and get the best results.
If you can achieve the level of clarity like one traffic source, one vertical, one offer, then you’d be able to see the 6-figure monthly revenues that I’ve seen some affiliates pull off.
But if you take your eye off the ball, buy into the “Internet business in a box” sales pitch and fall headlong into the “If you have 100 websites and each website is making $1 per day” thinking, then you are going to be in a world of hurt.
Building something of quality takes time and effort. Your concentrated time and effort. Whether it’s building a business or building a relationship with someone you care about, there’s leverage in concentrating your effort.
I’ve been working with new entrepreneurs in a closed coaching program and as I review their business plans and action plans, I advocate a “less is more” approach. It’s better to do 1 or 2 things well, rather than try to do everything yourself.
While it’s good to have an action list of 10 to 20 items, you can realistically only focus on 1 or 2 tasks and give it your full attention. If you don’t have a team supporting you, then work on the pieces that will give you results.
Some talk about the Pareto principle, also known as the 80/20 rule. I don’t think 20% of your activities will give you 80% of your results. It usually feels like 10% of your effort gives you 90% of your results.
The difficulty when you’re new is figuring out which is the 10% you should do.
Which is not really difficult to figure out. We tend to procrastinate doing the tough stuff which is likely to get us results, and spend more time doing the easy stuff.
This “easy stuff” tend to be part of the fluffy 90% which is trivial and won’t get you results. Doing the tough stuff – usually the tasks involving talking to people and facing rejection or will involve putting money on the line – these are the things that make up the 10% of tasks that will get you what you want.
The question is whether you’re willing to do what it takes to get what you want.