Single-minded focus on your fledgling business, unnecessary?
If you’re running a startup, you shouldn’t have ‘other projects’ that are demanding more of your time. A startup is an all-consuming process. If you start straddling multiple things, you’re almost predestined to fail. It’s hard enough to get a startup off the ground when you’re totally focused on it. It’s almost impossible if you’re juggling multiple projects.
Web 2.0 Crashes: Another Startup Being Sold On eBay
I disagree with Dharmesh, because it seems to me that I need to avoid putting all my eggs in one basket. It’s definitely difficult to get a balance between being single-mindedly focused on one project and running around like a headless chicken with many, but it’s important.
There are subtle ways of doing this that may work well, for example, being a serial entrepreneur and therefore having multiple projects, but only one at a time. Or, as the HuckABuck developers seem to be doing, working (almost) solely on one project until it has solid foundations, then selling it to work on other projects.
On the other hand, it’s all too easy to spread oneself too thinly, which is what I’m doing (still!) by starting my own business, studying full time and working part time. Hmm, time to employ those time management strategies, methinks…
PS: Incidentally, the auction for HuckABuck ended at US $10 100 - $10 000 short of the stated reserve - and was therefore unsold. Does this mean Dharmesh is right? What do you reckon?
One response, Comment or Ping
IanW
I think you’re both right; but only because I think Dharmesh has missed something out of her statement.
I think a startup is an all-consuming business *after a certain point*.
Before that point, I think you’re absolutely correct that you don’t necessarily know if this is going to be the Next Big Thing ™ and so you need to keep your options open.
It’s similar, at least to me, to the way sales goes; you need to make ten contacts to get one serious lead, and three leads to get one sale.
After a point, where your idea is proving to be a good one, and you may be starting to gain interest or at least potential leads, then I think is the time that you need to pause other activities and concentrate. And sure, it does take a lot of time and energy, I can see why he says it’s all-consuming.
But before then, no, I think you’re right.
Oct 1st, 2006
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