How To Never Lose Focus On Your Business
Losing focus on one project, idea, or business is one the most common roads to failure in business. Today I want to talk about something I call “Entrepreneurial ADHD”. It’s a concept that applies to a lot of young entrepreneurs getting their business off of the ground, or even just considering the idea of entering the business world.
You Haven’t Completed The First Part of The Journey
The conversation usually begins like this: “Well, Aleks… my business is going really, really well and I’ve hit a new record and my business is making so much money, and so I’ve got a proposal”. This piques my curiosity. I inquire, “Oh really? Cool! What kind of proposal?” And they say, “I’ve got a proposal to start ANOTHER business!” Now, mind you this is usually with people whose business is less than a month or two old. NO. I will tell you as I told them – do not start a new business just after you’ve gained initial success with the first one. Hold the line and keep going.
You’re just beginning to catch stride with the old one. There are years of subtle and nuanced skills you have to develop in your current endeavor to even have a hope of being a juggernaut in your next one. Early success is only an indicator of what might happen down the road if you stay persistent and dedicated to the present business.
Make no mistake, you haven’t mastered your path or your skills with the old one. You haven’t completed the journey. What you really need to do exercise some patience. The day will come when you are ready (and have the opportunities) to create more business ventures.
So, if you’re someone has started a $10 million business, making tons of cash quicker than you ever expected, learning all kinds of skills about production, the old bit – BUT it’s a month old and you get an offer to start a new business, you shouldn’t do it. You should keep doing what you’re doing because your current company has already shown itself to be winning offer, and winning offers are rare. You will very rarely get a winning offer. I’ve been told that 1 out of 10 businesses that gets a winning offer gets a winning business. So, don’t quit it. Don’t stop doing what you’re doing.
The Greats Never Lose Focus
Take a page out of the book of business history. Look at all the billionaires – they’ve been doing the same things for 10-20 years. Donald Trump has been in real estate since before I was born. Sam Walton died at age 72 with billions of dollars to his name, but he took over his first variety store at age 26. The only thing that he did was retail and more retail for his entire life. That’s how you become extremely successful at something, you do the same thing for decades without getting “Entrepreneurial ADHD”.
Personal Experience Shows The Danger of Lost Focus
Now, you may be wondering why I’m so passionate about this particular issue, and why I keep repeating myself that you should not “jump ship” so quickly and attempt to start new projects. Well, the truth is I’ve had a bad case of this entrepreneurial ADHD myself. I’ve done SEO, pay-per-call, cold traffic, consulting, drop shipping, everything. I could go on forever. And I can say from personal experience: don’t do a million things at once, it’s not worth it. If you just focus on one or two simple things like shooting videos, coaching people that you get out of your marketing funnel, and developing your skills of persuasion, you are much more likely to reach long-term success. If you keep implementing your ideas and learning from your mistakes hardcore for many years, you are much more likely to find what you are looking for than saying “yes” to every opportunity thrown your way.
Don’t Be A “Student”, Be An Implementer
Another kind of entrepreneurial ADHD is the “student of entrepreneurship” problem. A student of entrepreneurship is someone who implements very little, but goes to all the big seminars, watches all the videos, reads all the books. They don’t really implement. They know every industry term, every new name on the market making waves, but they don’t implement. Again, don’t do this. This is a waste of your time. Nothing will come to fruition if you are nothing more than an armchair business man, spewing off your theories to your friends about the current economic climate while not actually taking action yourself. Even some of the big sales letters these “students” get say this – “If you don’t implement this, you’re wasting your time”.
So, when you learn something, just pick one business model and run with it. You can learn 15 business models and get nothing. Just pick one and stick to it. As they say in racing, at some point, you just have to “pick a horse”. This is all you need. The most simple business models are the most successful ones. Even if you think you might get bored, you can train your mind to not perceive it as something that isn’t boring. Train yourself to do what works, and a path to success will have no choice but to opened up for you.