Saturday, June 23, 2007

Lose The Diversification

In life, as opposed to the markets, diversification doesn't always mean less risk. The old saying of "don't put all your eggs in one basket", is wrong (most of the time). Think of a swimmer who rather than choosing to be solely good at sprinting, chose also to be good at synchro, long distance, butterfly and diving. Diversified yes, riskier, of course.

Focus is the opposing force to diversification. The world is competitive. Very. To remain so, you must focus on a being great at only a few things - parent, tight-rope walker, (glorified) secretary - whatever.

Choose less, but better, goals. A personal, business and health goal are usually the best three.

Focus and thrive.

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