As entrepreneurs, our eyes are trained at spotting business opportunities.
Oftentimes, while we work on our business, other NEW and seemingly more profitable idea (or shinier object) comes along, waving at us.
Of course, we get excited to pursue it, especially if it is much easier to execute and has a bigger potential, right?
Well, be careful!
Having pursued many of these shining objects in the past, I realized that there is really no “easy” business that you can just start on the fly and then forget about it coz it will grow on its own.
Every business needs your time, resources, and effort if you want it to reach its full potential.
And since we all have limited resources, we need to allocate them wisely. Remember, a time spent on that new object, is a time spent away from growing your current business.
Pursuing a new business will usually affect your current business and will also impact your employees’ morale who might think you love the new baby more than you love them.
So next time a new business idea presents itself to you, think twice!
Unless you have already maximized the potential of your current business or the new idea is something that you can’t really pass, it’s almost always advisable to just focus on growing your current business first, before entertaining a new business idea.
Have you pursued shining objects in the past? What was your experience?