Many of us, business managers and entrepreneurs, would like to achieve a lot. We take the examples of successful people and try to emulate them: Richard Branson and his Virgin brand does everything from retail to transport, banking, telecom and many other industries. Carlos Ghosn, CEO of Renault and Nissan, two huge companies on different continents, adding to this Ghosn is an active investor in an environmental friendly winery in Lebanon.
Most of the entrepreneurs at the beginning want to run multiple businesses and we get excited by the idea to wear many hats and play different roles. As rewarding and fulfilling as this may sound, it is a big mistake that entrepreneurs commit at the beginning; they want a limitless world, they see opportunities and want to grab them all. Unfortunately by doing this, entrepreneurs lose track and fail in their ventures.
Successful business people who run companies in multiple industries rarely succeed in all industries at once. What they do instead is succeed at one, create a system so that the business runs itself -by hiring great people of course- and then move to create the next venture.
So to succeed in the first venture here are three essential elements that should be available in your toolkit:
1- Focus: Focus on one thing at a time and become the best in the world in that thing. The power of focus is so immense that it will create wonders. When you focus on a goal, your mind is going to start detecting everything related to that specific goal, and this is when you will start identifying opportunities.
2- Passion: Work on goals that you are passionate about, the money will eventually come. Passion fuels your motivation and helps you overcome any challenges. So resist the temptation to start new things based on how easy or profitable they are.
3- Discipline: No goal will be realized without discipline. Set a plan and commit to that plan. When you respect your goal and be strict and disciplined in dealing with it, the chances of success are tenfolds higher. A good way to create self discipline is to share your goals with a partner, mentor or a coach.
Camil el Khoury