The Butcher, the Baker, the Candlestick Maker
That famous line above from James Orchard Halliwell’s Rub-a-Dub-Dub nursery rhyme is a description for disaster in business. What I mean is that each of these three businesses alone, run by separate entrepreneurs, can be a smashing success. When one entrepreneur decides to take on all three simultaneously the business owner is doomed to failure.
You might ask, “Why this topic?” Recently I have been exposed to a number of prospects and clients who have multiple passions and want to make them into successful businesses. As example:
- Combining coffee roasting, with a potter’s wheel, with a restaurant, realtor, brewery, property management, and landscape architect
- How about a bee keeper who manufactures honey, does pet sitting, provides home security and raises chickens to sell their eggs to produce more chickens
- Or the person working in industry 60 hours per week, traveling extensively, and wants to start an on-line business
The three examples above are run by one individual per example. All three have at one time created success for themselves and those who surrounded them. People like this are typically very creative, extremely passionate about many things, and have an abundance of energy working to over achieve.
I often ask clients, “Does anyone in the world make a six figure income doing one of the things you are passionate about?” When the answer is yes, which it always is, I then suggest choosing that one “passion” business. Once we have established success in one business then we can go on to the next passion and develop that. As long as we have a plan in place to maintain success in the first business then it is okay to move on to the next passion.
One client built an international medical appliance business as a young entrepreneur prior to turning 40. Skirting FDA approvals this business pro was able to do business in Europe and Asia. With the earnings from that, business investments were made in real estate so as to open a second business in the US offering executive office space. After the first 18 months of business the suites were nearly full. Today, ten years later, the office is self sustained, allowing the owner to invest in other ventures including world travel and the Internet.
My message is a single focus will get you where you want to go. Years ago I wrote an article which questioned the beagle dog who chases two rabbits. When chasing two businesses the answer is the same…you catch none. This is often followed by which one to choose which is answered by, the one which will bring you the most joy. Michael Gerber shared in his book E-Myth the idea that if you do something you love every day for a living, you will never have to work another day in your life. I find that true today. Let me explain.
Today, I have my INTEGRITY business and my two hobby businesses. If I had started INTEGRITY simultaneously with Old Iron Auto Restoration and A Piece at a Time Furniture Refurbishing none would have reached any level of success. They all would have failed. After nearly 20 years of nurturing INTEGRITY I was able to restore my first car. I used that for the seed money to purchase my 1966 Pickup and 1965 Impala. As I restored the old iron I was able to take a class at the local college on furniture restoration. Today I find one piece of furniture at a time, refurbish it, returning it to the owner restored. At this juncture of life I find it enjoyable to have multiple streams of income. They allow me to stay fresh, keep my mind stimulated, and allow me to stay limber. Yes, getting down and up working on cars or carrying pieces of furniture to make them look like new can be a challenge. Having clients who I continue to work with for 10 years or more in my INTEGRITY business is extremely rewarding. The referrals keep coming. This above starts with a single focus for creating success. For continued success, keep each of your businesses sharp with a laser focus.
Gerry Rose runs INTEGRITY Networking Solutions in Marana, AZ. He works with people in business who want to attract the right prospects and generate more referrals. More than 10,000 businesses have been presented the INTEGRITY Networking Solutions system in San Diego, Los Angeles, Riverside, Orange counties, California and now in Arizona.
Gerry’s stimulating presentation Unlimited Prospects, Unlimited Referrals is ideally suited for small business owners, home-based businesses, and independent professionals who want clearer direction and want to attract more prospects, develop dynamic systems, and strengthen their companies’ accountability. Gerry does one on one consulting, conducts a range of keynote speeches from thirty minutes to full-day education workshops. His book series, Unlimited Prospects, Unlimited Referrals, are available on the website, www.integritysd.com.
Gerry has more than 20 years’ experience directing business owners how to grow their businesses. He is a networking dynamo. Those who know him will assure you that he does a great job of bringing people together—which is why he started INTEGRITY.
Involved with networking organizations since 1984, Gerry is a Distinguished Toastmaster, a member of Toastmaster International, and has chaired numerous chambers of commerce and non-profit organizations.
Are you truly committed to attracting the right prospects and generate more referrals? If so then contact INTEGRITY Networking Solutions for availability and information. You can contact Gerry by mail at 5107 W. Wild Burro Spring Drive, Marana, AZ 85658. Direct dial (760) 439-4623; e-mail to gerry@integritysd.com. For more information, go to www.integritysd.com
