Financial
experts especially in the area of revenue generation have always
touted the mantra of FOCUS which is an acronym for ‘’Follow One
Course Until Success”. The meaning is that you should do only one
business and concentrate on it until you achieve success. The
implication is that other avenues of making money should be closed
when only one avenue of making money is operational. This business
principle has being considered to be true through out the ages
without subjecting it under logical scrutiny in order to observe its
logicality. I am bold to make a claim that
Without any
fear of drifting from the general perception about money making, it
is timely to admit that holding to such opinion about money making is
very dangerous and suicidal for business. it is a sharp contrast of
the rich economic principle of business diversification, which is the
only thing that can bring multiple stream of income to the business.
Most of the successful businessmen in the world made their money
through different streams of income.
Meaning
of success:
The meaning
of success is very ambiguous. That is the major flaw of the
principle. What is the meaning of success and when do we know when a
business succeeds. We can dictate when a business is failing but
knowing when a business is succeeding is a very herculean task,
because going through the financial report of a business we think
that is successful might reveal a lot of things that went wrong. We
might understand immediately that the business will earn more if such
a subtle mistake was avoided. Hence, the concept of success in
business is very vague. Even though businessmen should strive towards
business success, the businessmen should avoid seeing a certain level
or achievement of his business as the sign of success. There should
not be an ultimate measurement of business success. If this must be
true, then one should not concentrate only in one business, in fact,
multiple businesses should be opened if the businessman has the
financial power to do so.
Results
of business failure:
What if the
business fails? This is another albatross to accepting the principle.
If the only focused business fails, it means that the businessman
will be left in the dark. Certainly, this cannot be the case if he
has a lot of businesses. A businessman with many businesses is more
empowered financially than the one with only one stream of income.
Nonetheless,
the principle is not totally fallacious. It has some merit in it when
it is subjected under a further logical analysis. You need to follow
every business undertaking until success is recorded. It simply means
that you should monitor all your businesses, and focus on them so
that you will gain tremendously from the business. This is where the
merit of the principle lies. Hence, if we must accept the
truthfulness and validity of the privilege, there must be the
inclusion of multiple ownership of businesses to the principle of
FOCUS.
BIO:
Fenix
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