One Trick Pony

[Ing]

@Ing any update on your decisions after this post?
I am curious to hear your perspective as some time

@Ing any update on your decisions after this post?

I am curious to hear your perspective as some time has now passed.

@WJK we are often taught not to put all the eggs in one basket, to diversify etc. And I think that's applicable when you have a certain net worth and only to the extent that you are "taking money off the table" as insurance for the future. When you are in startup and have nothing, I'd argue go all in on whatever you do. Get good on the "one thing", then get great at it and keep going.

@SteveO took a global perspective in this thread, as in "stick to one business and don't jump at every new shiny rock", and I'd like to add that same logic applies on a daily basis:
- When you start a task, finish it. Get the one thing done and only then move on.
- Know your priorities, there is never enough time to do everything but there is always plenty of time to do the most important thing (one!). What is it for you?
- Skills or lack of much needed skills can be developed the same way. Focus on the one thing you need most and get to "usable level of skills" quickly. Do you suck at accounting? Great, go take a course and focus, get the basics done. Marketing is new? Great, finish accounting course before you take the marketing one. Take notes, apply immediately and then revisit the notes one week, again one months from the date of finish. Don't know how to read legal documents or structure GP/LP partnerships? Well don't learn 15% of accounting, 20% of marketing and 5% of legal. At these levels knowledge is not applicable yet and useless. Back to "one thing" - get one done and move on to the next. Apply what you learned right away in your business.
- Workouts, meditation, food choices - this same principle applies.

To summarize:

1. Never multitask. This kills the ability to do good quality work and takes 4x longer than if you focus on one task alone.
2. Eat that frog
   
   . Some say that if you had to eat a frog (disgusting, I know) then it’s best to do it first thing and get it over with, the rest of the day will go better! Similarly, pick the task that is the nastiest and needs doing and get it done first thing in the morning.
3. There is no such thing as “priorities”, plural implies that there can be a few or many. If you have more than one priority, you are multitasking. Each day you should have just THE ONE THING that must get done. And then a ranking list of things that you wish/should get done. The 1st thing is a priority, the rest is not. Pick your priority.

I recogniced trading is not my thing at the moment.
to be honest, I dont know „my“ thing yet.
My opinion is, that trading in every facettes can be the one pony to go.