The difference between rich and poor is what you spend your time on. Take this hypothetical example.
Bryan is in charge of sales and marketing in a small startup. They’ve managed to reach 2% of the marketplace and reached a income of $330,000 per year in revenues. By reaching another 8% of the marketplace, the company could easily reach over a million dollars a year in revenue.
However, Bryan met a friend who has a real sexy idea. Thing is, that idea is not yet firm. It has not started making money. But Bryan is seduced, and suddenly starts spending a ton of his time on that idea, instead of trying to reach another 8% of the marketplace in his original business thats actually running and making money.
Bryan’s partner Ragnar, spends all his time in the original business and is pretty mad at Bryan. Because he knows that if Bryan were to spend a bit more time getting to that magic 8% of the market, things would be pretty sweet for everyone.
In time, the business breaks up, because everyone is demoralized because of the lack of growth.
We have really 8 hours for work or school every day. Then another 8 hours that we can do anything. Watch TV. Relax. Exercise. Spend time with family. Work on another idea.
If you have something that has started to work, push some time into it. Make it the main thing you spend your time on, until its really humming along by itself. When it’s humming and it’s own factory, then you can go ahead and start a new idea.
At the end of the process, you’ll still have many businesses, each making good money and able to run with minimal intervention on your part.
Where are you putting your time?