It's better to focus on one business or pulagada (what our market needs to provide)
Of course, it all depends on the current position of your business. When you are starting a business, it is better for you to focus on one business until it is big and great because building a business is not easy.
You will probably experience a lot of failures. And that is normal because your business brain or business instincts are not yet formed. You also don't know your market well, so you have to spend your share of failure first.
For example, if you have had many businesses, for example 3 businesses when you just started your business and you have a failure rate of 7 in each business. Automatically you have to use up your failure quota by 21 failures in the same time period.
And of course all of these things are very tiring and give you a headache. And when you start 3 different businesses, the resources you have are definitely limited, whether it's your mind, team and so on.
And your mind is divided into your 3 businesses so you will do everything half-heartedly/not optimally. Those who work hard and focus are not necessarily successful, let alone those who do it half-heartedly. It could be that all 3 businesses go bankrupt at the same time.
So, create business 1 first and focus on it until the business can grow and have power in the market so that if a problem occurs, the business doesn't collapse quickly.
And when you focus on one area, it will make you look more experienced and your position will be stronger in the market, and when that happens, then you can open your new business. Because your old business has strong roots, you also have many teams and have generated sufficient profits.
In conclusion, you can open a new business when the first business is successful. Apart from that, your skill set, business instinct, business network and you know the market needs well. So that when you start your second new business and so on, you are ready to run it well.
However, if you really want to have lots of businesses, what you have to do is find out your strengths and weaknesses. And you can only take a role in that business where you think you are professional in that matter.
For example, you are good at marketing but not good at finance. You can find a great team there. Don't do everything alone if you want to open a new business to be more focused.
people's thoughts about business focus
Initially, I started my own business with great enthusiasm, but I realized that limited time made it difficult to manage several businesses at once. This opened my eyes to seek collaborations that could accelerate my business growth and assist in time management. I acknowledge that I have many passions and interests that are challenging to focus on, but I learned from the bitter experience of spreading too thin across various business lines and eventually experiencing bankruptcy.
I realized that success comes from focusing on one field that I consider to have the greatest potential and fulfills my passion. I learned to become an expert in that field even though initially constrained by limited capital. This reminds me of the wise words of a doctor who advised focusing on one thing that is considered to have the greatest opportunity and fulfills passion. I began to build business strategies and design blueprints to guide my business.
Now, I find that focusing on one field brings greater success than trying to tackle multiple business lines at once. I understand that becoming an expert in one thing makes the world need me more than ever. Like Oliver Bierhoff in football, known only for his ability to score goals through headers, I found expertise and strengthened my position in the field I pursued. Thus, I learned that success comes from focus, dedication, and emphasis on strengths, as well as recognition that too many things can hinder growth and success.