This has always been my problem.
I have “put all my eggs into one basket” too many times and then have it all crumbling down.
For example, I had a digital advertising business that was doing well, but because of SEO algorithm updates, my revenue dropped 80%. Took months to rebuild it to keep up with the algo changes.
I had a sports equipment business that was doing well, but because of unforeseen inventory issues, it took months to rectify too.
Both times were BAD. It put me in a bad position and I usually only had a 6-12 month emergency savings. I started thinking about looking for a job…
I always think “better to have multiple things going”, but I could never find the time or motivation to do something else.
Now I’m having the same issue. I still have my sports equipment and digital marketing thing going (been going for 15 years now), but I just started another business in apparel. It’s going very well… and doing about 8-10 times more money than my other things.
I spend about 4 hours a day on it… an about 1-2 hours a day on the sports equipment and digital marketing.
I have 3-4 other ventures swirling around, 3 with former partners. But I just can’t have the energy or motivation to start another thing from scratch when my apparel thing is going well.
But as always… I’m vigilant, KNOWING that something is going to happen (it always does), then I’ll have no income again (scary).
But even knowing this… it’s so hard to dedicate another 5-10 hours a day to start a new thing that’s completely up in the air and may/may not makg money WHILE spending 5-6 hours on existing things that already make money.
I know I need to just “work harder”, but it’s harder said than done lol