How to NOT Put Your Eggs in One Basket
Channelling one’s energy and effort to one source of income is actually winning more and more nods everyday. Those who advocate focusing on just one business depends on the fact that the more you don’t have a choice, the more vigor you put in running that business or job and the more chances of succeeding in it. Makes sense, doesn’t it?
However, if you are a professional multi-tasker or if you are simply getting bored of your current job, spreading your time and effort on various projects can actually become more rewarding. Aside from getting yourself more pockets to get money from, you also discover more of yourself when it comes to your limitations and inclinations. But the discovery part should not be your main goal if you really want to work on something else because you want more profit.
So, if you have been thinking that you can now accommodate other home based sources of income, what are your options? It depends on a variety of factors:
- How much free time can you dedicate for this new gig?
- Would you like another job that is totally not related to your current gig for you to explore or hone your other creative skills?
- Would you want to work on something that’s totally different from your business or job right now or are you only looking for more clients?
- Will you be investing money? How much can you afford to invest?
So how do you start looking for new gigs? It’s often the same way you found your current gig. Research, apply, deliver and advertise.
More on each of these steps in finding home based gigs.
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Career Changer said,
April 9, 2007 @ 9:06 pm
Investing all your time and or money in one area certainly puts you at more risk of being disappointed. I do find I get too scattered from too many endeavors. However, the solution for me is to focus short-term on each of many endeavors. Choose which topic is the focus for the day or even the morning and really push aside other thoughts for that time. Sometimes I think the best dreamers are a bit ADD and need more follow-through. Would you agree? Or isn’t it something you have any trouble with?
Jack said,
April 11, 2007 @ 7:24 pm
I think that the idea of spreading yourself too thinly with many ideas is a worry. Whereas you can concentrate all your efforts on one project. The latter makes more sense to me.
Gabs said,
April 12, 2007 @ 12:26 am
I agree with Jack. The only time when I feel that I can start putting my resources on a new venture is if my current venture is already established and is running from a system that allows it to operate without need of my direct intervention. Only then can I separate myself from the system I’ve established and turn my concentration on other matters.
Splitting my time and attention among several ventures at once is akin to washing the dishes, cooking a meal and ironing clothes at the same time: they don’t go along well together and it leaves me burned out at the end.
Alfa said,
April 13, 2007 @ 11:27 am
@ Career Changer
ADD? I’m the queen of those with ADD.
But I’m not sure if it’s helping me at all as a successful entrepreneur wannabe. But one things for sure, I can’t stay working on one project for a long time, especially if it requires me carry out uber-routinary tasks. Great lens you have.
@ Jack and Gabs
I should have emphasized that this post will only be helpful to those who can afford to work on more tasks. Spreading oneself too thinly rarely results to anything productive. But there are those who can do it, which is my main goal.
Apparently, there’s so much to learn from entrepreneurs like you. Thanks for your sharing your thoughts on this matter.