Some entrepreneurs ruin their own businesses.
Though they are convinced they are doing everything well.
This happens when a tempting business opportunity arises. The founder decides, “No worries, I can give it 20% of my attention.” From that moment, the main business is compromised.
The mistake isn’t in assessing whether 20% attention is enough for the new project. In practice, it may demand 30% or even 50%. The misconception is that the main business only needs 80% attention. But that’s rare. Only if there are:
a strong team,
a stable market,
supportive shareholders, and
a well-established business model.
Any weakness in these aspects invites disaster. Just like an injured predator in the wild unable to hunt at full strength. The big question is whether it will survive or not.
The main business demands not 100% attention from the founder, but a full 200%. Yet, even that doesn’t guarantee success. Saying this doesn’t mean the entrepreneur can’t focus on anything else. We’ll talk about that next time.
Yours sincerely,
-Alexander
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