Product Diversity & Launching New “Stuff” - Blessing or Curse?

from Living The Red Life

by Rudy Mawer

Published: Fri May 03 2024

Show Notes

In todays episode we delve into the age-old notion that millionaires typically maintain multiple streams of income. How businesses, even giants like Amazon and Apple, continuously grapple with challenges and imperfections despite their monumental success, and why the dream of passive income might not be what you think it is.

From start-up inception to scaling operations, and the significance of aligning entrepreneurial aspirations with individual capabilities and market dynamics. This episode will help you understand not just if you should diversify, but more importantly when you should and shouldn't.

CHAPTERS

3:01 - Understanding Entrepreneurial Roles and Goals

4:07 - The Skill Set and Experience Threshold

5:08 - Navigating Business Growth: From Start-Up to Scale-Up

5:26 - Industry and Market Dynamics

5:56 - Personal Entrepreneurial Goals and Alignments

6:29 - Choosing Between Multiple Ventures

7:39 - The Importance of Testing and Adaptation

8:04 - Transitioning from Start-Up to Million-Dollar Business

8:24 - Balancing Side Hustles and Scaling Ambitions

8:34 - The Power of Diversity in Business Growth

9:02 - Diversity: Adding Support Vehicles