Monthly Archives: May 2013

Diversification for Dummies

10 May 2013, by A. Cedilla

 Who will diversification help?

  • Anyone trying to run a business and grow their customer base.
  • Anyone who is juggling responsibilities with marketing, billing, customer support and product services with not enough time to attend to all of them properly, and wants to focus on only doing a few things–key things–effectively.
  • People who don’t want to waste their energy or their time on doing things that don’t work, and especially want to make their time work for them.

What will diversification mean for you?
It means splitting up your focus among a few select methods to be more mobile. It means casting a wider net to get more of what you want and filter out what you don’t want. It can mean outsourcing certain things to give you more time to do what you’re good at.

You establish more support anchors through diversification, and when one method misses or no longer helps, you can get a new one to replace it while the others will help carry the load.

Wise diversification in a nutshell: Do less stuff to be more successful? Yes, just make sure the stuff you’re actually doing is actually working for you.

 

To illustrate, the difference between hitting the bulls-eye and scatter-shot effort is practice and focus. You don’t want to waste your efforts, you practice and learn until you can make sure that you hit what you’re aiming for, instead of firing and hoping to nick something. That’s one.

On the internet, making a splash is a way of getting attention. And while it’s great for getting the spotlight focused on you for the moment,if you don’t do anything with it, it’s a dead end.
Making a splash is only one way of getting attention. You also have to keep that attention, and you can do that through other means. If you only focus on getting attention and publicity but not trading on it, earning from it or connecting with it, all your efforts go down a bottomless hole with nothing to show for them. You need reliable results.

That’s two.
The reason the analogy about ‘not putting all your eggs in one basket’ works is because it’s perfect. If you do put all your eggs in one basket and you drop the damn basket, you have nothing left. That’s why you need to diversify and be smart about it. Remember focus and reliable results? Focused efforts lead to desirable results. Continue reading Diversification for Dummies