Is it healthy to have 2 or 3 businesses going on at once? While many people disagree, I think it’s not only healthy – it shows you can create assets for yourself. Maybe it’s because I just got done reading an epic Howard Hughes Biography. Hughes, as crazy and nuts as he was, had multiple things going at once and was worth 1.5 billion when he died (today that would be about 5.9 billion with inflation).
These multiple things were not only his passions (and vices) but also what people cared most about. Back then it was flying, producing the first bloody gangster flicks and displaying the sexual side of women in movies. It was an era when communication was not as easy at it is today, yet he somehow dominated with his playboy manner and exciting flight around the world. What can you take away from Hughes?
You need to know what people want, you need to have your two fingers on the pulse of the world. What excites people? What excites you? How can you create a product that will accommodate that?
The next thing I would say is don’t create something that pleases everyone because it’s impossible. Think about that and let it set in. Just as no unique human can please everyone, no unique business can please everyone. So many people (and businesses) go around and think they can please everyone. This is so far from the truth it makes me sick. It’s the kind of stuff MBA graduates come out thinking. It’s like they don’t have any sense of how a business actually works. They don’t know their potential customers are alive because they never have looked, found, listened or heard their pulse.
So today I am challenging you. Listen to society and people. You’ll be surprised at what you find and where the money really goes. After you know this, creating businesses that will be assets to you in the future is not hard. It’s just a matter if you will actually do it or not.
Tip: Learn how to organize your time and outsource things.