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You’re last sentence is totally accurate, but I think there’s a balance with diversification and focus. Failure is likely, success can be huge, that means my e
by tjs8rj 5y ago
You’re last sentence is totally accurate, but I think there’s a balance with diversification and focus.
Failure is likely, success can be huge, that means my emphasis is on learning and have as many at bats as possible. How I imagine the best strategy is:
Try a lot of things learning as much as you can > prune what isn’t working and focus on what is (more and more of your fixed pie of time dedicated to the best opportunity) > continue until you pass your goal of success > then diversify again to maintain that level of success
You don’t focus on something too much until it’s proven itself, otherwise you’re far more likely to waste too much time on failures. Once you “really have something validated” (this is its own conversation), then you focus more and more on it driving it to its potential.
Diversification finds the potential winners and learns the fastest, focus makes that winner reach its potential.