Dear Aunty B,
I am running a PR/communications company and it is going gangbusters. I can see many synergies and opportunities to expand into new areas.
But I keep reading about how entrepreneurs must stay focused on the main game. In that case how do they get rich? While we are doing well, I am never going to get rich at this rate unless I chase a few rabbits down a hole.
You are confused. Have a look at Australia’s richest entrepreneurs. Many spent hours a day, many days a week building up a sustainable business, then did acquisitions to reach critical mass. At some stage they put in a general manger, then CEO. Only then did they focus on either starting new ventures or building their wealth through property and share investment. While these rich individuals look as if they have a lot of fingers in many pies, they worked for it and then moved on only when they had the teams and resources in place to delegate.
I heard the young entrepreneur James Masini from Hippo speak the other day. The young and hyper James, who would have his BlackBerry implanted into his brain if he could, says that he opens every board meeting and staff meeting reiterating the company’s mission and goal. That sends a message not just to him but to all the staff to stay focused.
So stop wasting energy on being confused. Entrepreneurship is a stamina game. Those with the focus, win. Those who chase rabbits down holes get lost.
Your Aunty B