Short excerpt from a YouTube video by Mark Evans DM contrasting two business approaches using the "picks and shovels vs digging for gold" metaphor. The speaker says both approaches can work, highlights scalability preferences (favoring becoming a global brand over a "mom-and-pop" shop), and uses a rental-property analogy (single house vacant = 100% loss vs multi-unit apartment = partial vacancy) to illustrate diversification and risk reduction.
Do you want to be selling the picks and shovels to the gold mines or do you want to be the guy digging for the gold? They both work. Especially if you hit the gold. It works. But also scalability, right? I don't want to be very. I don't want to be a mom and pop shop. I want to be a global brand. I want to have a lot of. A lot of customers. If one customer leaves me, I don't even know it. It's kind of like a single family business model. If you have one house and Tenant leaves you're 100% vacant. If you have a Tempo unit apartment, one person leaves you only 10% vacant. Now there's both. There's different skill skills. There's different. There's no right or wrong to them and they both work. It's not like one's right or wrong. It's just. It's what do you want where. Where are you at and where are you trying to go?
