Mike AndesFounder, Augusta Lawn Care and Homeworks · Founder of Homeworks and Augusta Lawn Care

Chasing 7 Revenue Streams Might Leave you BROKE 🤔

23 Dec 2024 · 0 min

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Mike Andes argues that individual attention, time, and money are finite resources and recommends concentrating those resources into one business to build resilience against economic downturns. He contrasts this focused approach with running multiple businesses (he cites an example of having five), which splits attention and makes each venture more vulnerable during a recession.

We only have a finite amount of attention, time and money. And so I would rather put all of that into one business and make it much more resistant to economic changes and making sure there's lots of value of the customer. Well, a lot of us do. We have five different businesses, and because of that, we split our attention, we split our time and energy between all of them. And at the end of the day, an economic recession comes along, they're easy to topple over.