Why Less is More: 10% x 10 ≠ 1
Our world seems to favor multitasking. Most of us are expected to juggle many things at once, with attention spreading all directions. And that goes for our personal lives, as well as our work lives. When you’re doing so many things, it can be hard to focus, be productive and accomplish really anything at all.
In fact, recent studies have shown that juggling multiple assignments may make you less, rather than more, efficient (read: Multitasking Makes You Less Efficient). This same philosophy can be applied to business as well.
Consider new businesses. Research by the U.S. Bureau of Labor Statistics shows that more than 50% of small businesses fail in the first five years of operation. This statistic is sobering for anyone tempted to invest their time and personal savings into launching a small business.
Obviously there are a host of reasons for this. But one contributing factor may be that new businesses are trying to do too many things at the outset. They have a lack of vision and focus, and doing 10 things at a rate of 10% is going to get you nowhere – except on the BLS statistics list.
Further, many small business owners get caught up in what other people are doing, and get side-tracked from where they want their own business to be. It’s important you focus your energies on one or two things at a time. Trust me when I say that you will find greater success if you delegate things this way – one thing at a time, until your task is complete.
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