I want to talk about a major impediment to growing a profitable business. It’s actually a major obstacle to almost every avenue to wealth. It’s not the only obstacle. And it may not be the biggest. (A bigger obstacle might be laziness. Or lack of ambition. Or arrogance … the list goes on.)
Having too many ideas can be a serious problem. At the beginning of my career, I had that problem. It kept me poor for many years. It would have kept me poor for the rest of my life had I not discovered the principles for prioritizing my many ideas.
Picking Favorites
Right now on my computer, there are, quite literally, more than one hundred project ideas whispering to me day and night: “Pick me!”
Because the ideas are my brainchildren, I love them all equally. In my heart, I believe they are all equally deserving of my attention and time. I know, of course, that this is impossible. I know I can only do so much at one time. It makes sense for me to pick a few and focus on them.
This was the argument that raged in my brain throughout the early years of my career in publishing. I always had at least 50 ideas in my head. Many of them were probably downright bad. But many were potential blockbusters.
Which were which? I didn’t know.
My habit was to chip away at all of them randomly and at the same time. This was a very bad habit. It ended the day I decided my No. 1 priority would be to become rich.
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