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

If you want to build a $10 Million business, avoid the Shiny Object Syndrome like a plague.

16 Mar 2024 · 0 min

Watch on YouTube

0:03

Short YouTube conversation (Mike Andes + another speaker) advising entrepreneurs to avoid "shiny object syndrome" and instead focus on making a single business/location highly profitable. The speakers argue that concentrating on one core operation (resolving equipment, services, contracts, and location issues) unlocks options and creates a domino effect that can lead to a $10M business or large real estate portfolio over time; diversification or chasing new ventures too early is portrayed as a common mistake.

10 million in business. How do I get there? What does that look like?
The new shiny object syndrome is alive and well with most entrepreneurs trying to do real estate and trying to do all these other businesses. Is it going to actually make him more successful?
Right now, I know one thing for certain, and that is if we make this business more profitable, you'll have a lot of options to choose from. Right now, we don't. We're tied to these pieces of equipment, we're tied to these services, we're tied to these contracts. That's why it's like, the only thing that really matters is this location and, like, making this one profitable. Because as soon as you do that, it. It just unlocks. You have so many options. And yes, it's been 15 years. And what happens? You get burned. Like, okay, maybe it's just the wrong industry, or I should do something else, or, like, maybe it's my location or whatever. Just figure that one thing out. Because when you do that, then you move on to the next thing, and then all of a sudden, the dominoes start falling, and then you all of a sudden do wake up with a $10 million business or a big real estate portfolio. But that doesn't happen by trying to focus on all those things at the same time.