Very Simple Ideas for Running a Business: 4) Diversification and Focus

Regular readers of these columns will know that we're resistant to the "either/or" view of the world. We prefer the "and, and" approach which values balanced thinking, rather than attempting to promote one position at the expense of another.

So it is with the notions of diversification and focus, often referenced with regard to investment, but also relevant to business generally. On the one hand, diversification - not "putting all your eggs in one basket" - is wise because it means that a number of opportunities are kept available and risks are not concentrated. On the other hand, focus is also recommendable because it allows us to concentrate consciously on managing both risks and opportunities and also apply our particular experience and knowledge.

Both diversification and focus are, after all, not bad ideas, and worth encouraging, especially if taking account of the specifics of a situation, rather than just promoting a principle. As ever, we believe that a healthy combination of thinking is usually the optimal path to follow. It also introduces another important idea that we often overlook - perspective.


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