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Why Diversification Results In Mediocrity
“Diversification is a protection against ignorance. It makes very little sense for those who know what they are doing.” -Warren Buffet
Why Diversification Results In Mediocrity
Just as a bonus point, one’s the worst number for anything else, too. Too much of your revenue dependent on one key account, one product, one service, one advertising media, one calendar event, one means of distribution, one anything, anything, anything.
Dan Kennedy • No B.S. Ruthless Management of People and Profits: No Holds Barred, Kick Butt, Take-No-Prisoners Guide to Really Getting Rich
Don’t divide your attention: focusing on one thing yields increasing returns for each unit of effort.
At a micro level, an extra hour of focus on the current project has a much higher return than an hour on something new, or worse, 5 minutes each on 12 new things. Before you ever do something new, you should understand the opportunity cost vs. exis... See more
At a micro level, an extra hour of focus on the current project has a much higher return than an hour on something new, or worse, 5 minutes each on 12 new things. Before you ever do something new, you should understand the opportunity cost vs. exis... See more