02.20.22 - Focus and consolidation
And happy Sunday.
I realize it’s been a hot minute since I’ve hit ‘send’ on anything here.
One of the organizations I own went into a 2-week sprint and it has been ALL OUT for a couple of weeks. The results have been terrific and I am glad I did it — but, I am glad to be back writing to you…
Yesterday I was reading Jim Collins and I came across an old highlight that I believe is important for you to read right now:
“To disrespect the potential remaining in your primary flywheel—or worse, to neglect that flywheel out of boredom while you turn your attention to The Next Big Thing in the arrogant belief that its success will continue almost automatically—is hubris.”
There have been many times in the last 8 years of my career when I have fallen into this trap. The reality is, most entrepreneurial people get bored quickly.
I’ve been pausing and asking myself a lot lately: where is the untapped opportunity right around me?
It is easy to go off chasing the next gold rush. After all, grass appears greener the farther away it is. But the real money is often times right next to us… in the areas we have not explored because we are chasing too many things.
Over the next 24 months I am going to be reverse-engineering a “consolidation” of sorts. I want to focus on 2-3 main things that can create exponential lift.
This will likely include 3 main businesses:
My holdings company for businesses
My financial education company for the masses
My asset firm for us to store long term, high yield assets inside of
There will be plenty of room for fun, passion projects. But for me, the main thing I’m looking to accomplish in this next season, is potency.
The challenge I’ll make to you today is this: where are you tolerating subpar returns, because you don’t have the proper controls, systems, team or focus to grow exponentially?
If you’re in real estate this can mean focusing in on one class for a while until it’s bulletproof. Or one market until you hit a critical mass point.
If you’re in brick & mortar business, this can mean pausing new locations until you hit a certain retention level for new & repat customers.
Regardless of your niche or industry, it can me slowing down for 2-3 months to build a rock solid TEAM that you can trust to backfill you (and your bandwidth) without sacrificing quality of returns.
I have ownership interests in a dozen different things and I can tell you this with certainty: you are likely nowhere near your potential… from an attribution standpoint this happens for two main reasons (that I have seen):
Team (wrong team, wrong seats, etc)
Focus (not enough management firepower to grow)
One of my partners and I own a private equity fund and we are consistently opening up new spots inside our cap table for owners of great companies that just need more of #1 or #2…
If you are over $1m/year in revenues and have been in business for at least 2 years, hit reply and tell me what you need to GROW. If I can provide it, I’ll let you know.
Happy Sunday, and hope you are ready for a fantastic week ahead!