It has now become common practice for business owners to “hop” from one industry to another in the hope for a quick buck or for finding greener pastures.
The funny thing is that people are applying the same strategy that job hoppers are applying to their businesses.
It is for this reason that you find some people with 10 or more companies in multiple industries registered to their names.
At times you even find some business owners with a number of companies operating in the same industry.
People are taking chances by trying to achieve one thing with multiple companies.
In reality the recipe for success is to simply use one company and put your full and concerted effort in that company to ensure the brand becomes a great success.
This behaviour of “hopping” is sometimes referred to as multi-tasking and, in my opinion, it is destroying entrepreneurship.
In my book, The Psychology, Science and Art of Turning Contacts into Connections, I give the example of Mr X and Mr Y who both had the goal of burning a piece of paper and were both equipped with magnifying glasses.
If Mr X moves his magnifying glass all over his piece of paper, which is similar to multi-tasking, he might take the entire day without ever burning the paper.
On the other hand, if Mr Y just keeps his magnifying glass focused on one area, it will result in his piece of paper burning in a fraction of the time it will take Mr X to burn his.
Think about this example carefully, because it represents one of the most vital fundamentals in business.
Many entrepreneurs today fail to understand this concept, which is actually costing them a lot of money.
It is by understanding this concept that you will realise that “hopping” from one industry to another will not do you any good in the short or long term, be it financially or otherwise.
Not forgetting the fact that you are losing a lot of valuable time and missing out on the opportunity of adding value for your clients.
It is instances like these which have greatly contributed to the fact that most business owners spend 90% of their time on non-productive activities instead of adding value.
I urge you to put more focus on one thing at a time; water and nurture it until it is green and succesful.
Kholofelo Pholafudi is the author of The Psychology, Science and Art of Turning Contacts into Connections
