Are you scattering your powers?

PT Barnum wrote a cautionary insight about the downfalls of “scattering your powers”. Today we might say it is best to be focused, committed, or dedicated to one thing instead of many. 

PT Barnum wrote The Art of Money Getting in 1880. It isn’t a long read, but it is one to savor. It is extremely practical. When I think of PT Barnum, I don’t immediately think of practicality, do you?

For the most part, PT was very practical when it came to business. Perhaps pragmatic is a better term for what I learn as I read more of his writings. Regardless, he was driven. He understood what did and didn’t make Business Performance  improve.

“Do Not Scatter Your Powers” is the title of Chapter 12 in PT Barnum’s book. This chapter is very concise with approximately only 200 words. The precision of his message is undeniable in its understanding and application. Ready for this?

“Engage in one kind of business only, and stick to it faithfully until you succeed,
or until your experience shows that you should abandon it.”
~PT Barnum

After this opening to the chapter, PT discusses the effectiveness and efficiency of consistently swinging a hammer. In 21st century business we speak of multiple streams of income and the wisdom this approach has on sustainability of a Small Business Owners (SBOs) overall revenue.

I am a proponent of multiple revenue streams. Yet PT’s warning delivers great advise!

Are you scattering YOUR powers?

Over the 15 years of Small Business Coaching, I’ve seen countless SBOs try to simultaneously develop multiple income streams and end up with nothing thriving. Why? They are serving too many demanding masters at once. This is scattering your power, or efforts, and impact.

It’s not the concept of multiple streams that’s the issue. Trying to develop them all at once OR being impatient and prematurely giving up is.

TIP: Instead of prematurely giving up, stay with the idea (if profitable) and learn new skills or capabilities to successfully support its growth. 

Would it make more sense to dive into the active development of one and allow the others to wait until the first one is generating revenue?

Securing one revenue stream to the point of it running effectively is key. Then, take a moment to generate the next stream. 

Frequently I use the metaphor of YOUR Business Needs to the needs of a baby. Scattering your power to simultaneously develop multiple income streams is like birthing and raising triplets instead of a single birth infant. There is a difference in the detailed attention each child will receive. (This is what a friend shared with me who has had both scenarios.)

Avoid Scattering YOUR Effectiveness:

SBOs of the 21st century must approach their business in new ways. It is still advantageous to review and apply wisdom from highly successful Business Leaders – even if it comes from the 1800s. PT Barnum is one of America’s Founding Entrepreneurs. Even though his industry was entertainment, he was a revered business man.

If you’d like a short and powerful read  to support YOUR Business Success, get The Art of Money Getting: Golden Rules for Making Money. Apply one concept per week and YOUR Business will look and function very differently than it does today!

REMEMBER: All research supports multitasking as ineffective.

How often do you find yourself multitasking in business and scattering your impact? I catch myself doing it too often and retrain myself to practice singular focus.

THANKS FOR ALLOWING ME TO HELP YOU IMPROVE YOUR BUSINESS!