Focus - an important trait of entrepreneur that I badly need to improve.Â
As of now, I am spliting my time into far too many things and more ideas are cropping up each day. Need to stop, reorganise and focus on, perhaps not one but definitely not too many things at a time.
For past number of months now I had stopped building a single business but going for multiple activities that I anticipate will provide multiple revenue streams and options.Â
Mainly I grouped them under 3 categories - online, sourcing and investing.
Online. Here I am building up a portfolio of sites (of which 3 are started on this site already) as well as related services. Currently revenues are still limited to minuscule ads income and service fees.
One thing about web is that success can be built built upon success and most of the time effort are accumulative over time. So I am expecting this activity to slowly grow. Spend sometime each day and accumulates.
Sourcing. Sourcing, purchasing and providing business services is what I am physically doing with 2 partners here in China.
We had some success in closing a few good deals but supplier quality problems, payment issues and other challenges sapped away our time and effort.
We are still pretty far on this one. Not only my focus but focus of the team had to be aligned. This is the most uncertain but certainly has great potential for development and growth.
Investing. This is my cash cow at the moment. The stock market recovery over the last one year plus had helped financed my bleeding activities. I fear though I am slowly suffocating the proverbial golden goose as I liquidate my investments to fund my other activities. Time is running out.
Also with more time spent on other activities I had lesser time to monitor the market. Most of the money remains in unit trusts (mutual funds) as I liquidate the stock holdings.
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