No one can serve two Masters.
– The Carpenter
There are many business owners who aspire to own another business or multiple businesses. My observation has been that there are very few people who can own more than one business, and succeed in both or all of them. Enthusiastic and well-intentioned individuals often approach me with an “opportunity” – a way in which I could earn significant income in my spare time (and spare time for small business owners is up there with jumbo shrimp and government intelligence!).
From time to time, I have conversations with coaching clients about some business opportunity that they are considering, which would pull them away from their core businesses. They don’t seem to realize that serving “two masters” will only conspire to starve that core business (which is the Goose that Lays the Golden Eggs!). This dynamic is why God invented Coaches!
Diverting time, energy, and resources away from our core business, and reallocating them to a new one, is always a very bad idea! In fairness, Real Estate Agents and Brokers can acquire real estate investments without compromising their core businesses, because doing so is tantamount to investing in the stock market; these types of vehicles are investments and not the acquisition of another business.
With full transparency, I would share that I invited much trouble into my core business, by attempting to own other businesses. At one point in time, I was selling real estate (my core business), I owned a real estate company, which is a business of agent recruiting and agent retention, I was building houses, and I was a property manager. With all of these enterprises happening simultaneously, it triggered the demise of each of them. The lesson was clear and Thank God, I only had to learn it once! No one can serve two masters, let alone four or five! It was a defect in my own character, my belief that I was unstoppable in business, that produced one of my greatest failures, but it was also one of the greatest lessons in my life, for which I am deeply grateful.
Putting our core business at risk is a very bad plan!
© John G. 2021