A business owner spread herself too thin adding accounting and plumbing services before her core property management business was solid. Peter Lohmann agrees: focus on one thing and get it right before you expand. Diversifying early just slowed everything down.
Looking back, I would have just focused on my core, like focused on property management, focused on what I actually know, right? And then instead of all these different verticals, because it really does slow your growth down. Initially, we were pulling people to help with the accounting and plumbing or helping with this and the plumbing, right? And it just doesn't work out as you envisioned it.
I've heard a lot of similar sentiments from business leaders I respect, this idea of focus. And if you're going to be good at something, stay with it, get great at it.
Yeah, totally. I mean, just get really good at what you do, perfect different parts of the, the business. And instead of trying to conquer the world, like I tried that and I can tell you it wasn't easy. If I could do it all over again, I would have just focused on my core, which is property management.
