Entrepreneurship involves starting to invest in the stocks of my own company. However, unlike open-market stock investments, here you invest in your own business, not someone else’s. My company’s performance directly affects my shares. To excel at investing in your own company’s stock, focusing on one key area can significantly boost your chances of success. Conversely, to be good at investing in others’ stocks, it’s better to understand multiple business sectors rather than just one. Since investing in stocks focuses more on minimizing risk than maximizing returns, diversifying resources across several areas makes risk management more effortless. If you master risk aversion, you can reduce losses and increase your chances of surviving in a volatile market. If you are knowledgeable and well-informed, I recommend investing in others’ stocks rather than pursuing entrepreneurship. - Joseph’s “just my thoughts”
The advice to concentrate on one thing instead of trying to excel at many is valid, as it’s also challenging to master a single skill. If you neglect the other essential background abilities necessary to enhance that one skill, you will be unable to overcome your limitations. For a top-level skill to thrive, the supporting average abilities for that skill must also develop concurrently. Concentration should not be an excuse to avoid or ignore what’s important. - Joseph’s “just my thoughts”