Omar Zenhom argues that new founders should master one revenue-generating business before diversifying. Spreading effort across multiple ideas when you have no revenue doesn't lower risk, it dilutes focus and creates mediocrity. Diversification protects wealth that already exists, not wealth you're trying to build.
Everyone tells you the rich have 7 income streams. I've been around a lot of entrepreneurs in the last 20 years— beginners, millionaires, billionaires— and people that think multiple revenue streams makes them smart, makes them some sort of a serial entrepreneur. But at the start of your business, it's not smart. Diversification is a strategy for protecting wealth that you've already built. Diversification is not a strategy for building in the first place. When you have nothing yet, spreading yourself thin doesn't reduce risk, it guarantees that you'll be mediocre at many things. Your focus is what you need. You need to focus on being great at one thing, at delivering a solution to a problem to your customers.
