FBC – 217 – Don’t ever make this huge mistake (like I did…)

Don't ever make this huge mistake (like I did…)

Today, I want to tell you about one of my biggest mistakes that could have cost me everything. Thankfully, I corrected it before things got ugly but it was pretty close.

This is something we are all tempted to do for some weird reasons…

All the answers are in this episode.

So if you're just starting out, it's something that can happen to you down the road. So it's still very important to understand this. If you've already started and you've had some success stuff, this is definitely, definitely going to help you.

So here's the thing. You know, sometimes you start a business. You try a few things. Most of it will fail. But at some point you will find something that works. And when you find that, then afterwards, what do you do? You stick to it, right?

You stick to it. You scale it. You make it bigger. And you focus all your attention on it because, well, obviously, it's working for you. And this is a thing you should do.

But, you know, after a while, we all tend to do that, I guess. Because I've seen a lot of people and I've been guilty of that. And I have to discipline myself not to go through that again. But anyway, you get really comfortable and you stop actually paying too much attention to it.

And you start exploring other things because, if you're an entrepreneur, you're curious and you want to build something else. Right. And also, as I said, you want to have more than one income stream.

And very often what happens is that the one thing that brought you to where you are right now and allows you to have the flexibility to go and find something else, you forget about it and you start focusing on other stuff, your other projects. Which again, it's good if it's interesting for you and intellectually stimulating. But the danger is that you completely forget about your core business.

You know what you're actually good at. And what brought you there? And then what happens is that you spend all your time doing other stuff and eventually your main business that was giving you all your like your income starts dying out or slowing down. And when you come back to it, very often it's too late.

Don't ever make this huge mistake (like I did…)

So I've seen a lot of people in that situation where they work really hard. They build something that works really well. And then afterwards they start chasing other things. So remember what I said. When you have something working, it's a good idea to have something on the side that runs, preferably something like automated, so that if something happens, you're not starting from scratch or something.

So this is why I really advise you to have something like that on the side. But what happens is that we get distracted. It happened to me. My core business is my email business. And for a very, very long time, I have been looking at everything but my email business right to a point where I could have got in serious trouble.

Thankfully I started paying attention a few months before my main client actually stopped all the operations. And I had to reshape the whole business and everything. But for a very long time, trust me, I kind of lost interest and attention, you know? And this is not what you want to do. You don't want to be too far away from your main business.

So what I really suggest you guys do is that whatever your main business is, you know, your bread and butter, don't get away from this too much. OK. Operationally, of course. You know, just give it to someone else if it suits. Automate that stuff, but stay on it, like, strategically. Because things change really quickly.

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HELLO AND WELCOME!
My name is Martin and I’m the creator of the MARTIN EBONGUE BLOG. Understanding how to create passive income, how to start businesses that run without me & how to make money online changed my existence. It allowed me to travel full-time, have ton of fun and live life on my own terms.
 

 

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