Should you have multiple businesses or just one?

2 May 2023 · 1 min

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This content was created by Eric Siu. This content was uploaded by Eric Siu. This is a YouTube video titled "Should you have multiple businesses or just one?" (uploaded 2023-05-02). The excerpt is a single-speaker entrepreneurial monologue in which the speaker (who references running an ad agency called Crankin') advises founders to focus on one business rather than spreading resources across multiple ventures. The speaker cites conversations with many founders and references Bill Gates and Warren Buffett endorsing focus as a key to success. Metadata: content_type=YOUTUBE, thumbnail provided.

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Should you have multiple businesses if you want to win? So I used to think it was a badge of honor to spread my resources and spread my talents to an affiliate website, an education product, SaaS product on top of the ad agency that I was already running, which was Crankin'. And over the years, I've talked to hundreds, if not thousands of founders. And what I've realized is that the founders that stay locked in on one thing that's already working, they compound a lot faster than the ones that are doing multiple businesses. And so you decide what type of outcome that you want. But when you think about people asking Bill Gates or Warren Buffett the one thing that led to their success, they both gave the same answer, and that was focus.