The mistake that cost me $60,000

[LeungJan]

In the Millionaire Fastlane book MJ talks about Tekel Syndrome and not "Cheating on your spouse".

This year I learned the hard way.

It's officially been a year since I incorporated my own company.

I became greedy and chased as many opportunities as possible instead of focusing on growing
on what I already had.

The result being 9 months of emotional struggle, bad client + project netting only $5000 instead of $60000
that was available to me given I take on the work from existing client which was standard work, little struggle
and "easy" money.

Stupidly I moved as if doing as many things as possible would net me the biggest outcome.

The numbers dont lie.

This thread is a reminder for me to come back on if I ever start chasing too many things instead of focusing/growing one.

 

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[Choate]

Old thread here but its still on first page, and I feel I have something useful to say so here's nothing:

Check out the book The Pumpkin Plan. Its very similar to what you're describing. To sum it up, to be successful sometimes one must eliminate some of their customers in order to focus on their bigger ones. Eliminate the weeds. Its compared to trying to grow a prize-worthy sized pumpkin, because in order to do so, one must cut out all of the other pumpkins absorbing nutrients, minerals, water (resources).

So eliminate the resource-sucking customers who provide little return, and focus your efforts to grow the first prize pumpkin.