Diversification for Success

The Urbanophile on success:

One, overly focused solutions, while en vogue in some B-school theory, is heavily vulnerable to niche exhaustion. Overspecialization leads to death. So unless your plan is to get in and get out, it’s risky. You at least need to be constantly examining when the likely end date is. Two, that means to increase your chances of having long term staying power, you should be placing some bets on the new, and probably some diverse bets, spreading some money around the table instead of piling on the chips on Red 14.

That’s basically how’ve I’ve been running 1530 since the start. It sounds strange to a culture of entrepreneurs weened on the idea of pouring your soul into an idea, hoping to hit that home run. We’ve built two apps in that time and killed them both.

However, funny enough, this isn’t me:

I have a friend who owns a software company. The keep building small software as a service applications and seeing whether they get take-up. They idea is to try a lot of different things and see which one hits rather than putting too much investment in one big thing. Given the low cost of entry for web applications today, this is a smart move.