I spoke with an entrepreneur a few weeks ago who has found a way to solve multiple problems for their customers. Each could be its own separate business, and he’s building them all at once.
When I asked him about it, he said he wanted to keep multiple irons in the fire because he wasn’t sure which would work out.
A better analogy might be building multiple fires at once.
Building a campfire is a delicate balance of kindling, airflow, and ignition. It requires constant tending to balance between smothering it, losing momentum and blowing it out.
Now, try building 5 at once.
Inevitably, your focus would start with one fire until it was making progress, and then it would shift to the next. While setting up the second fire, you’d have to stop to nurture the first before coming back to the second. And there’s 3 more fires you need to get to.
While it might seem like diversifying your options, multiple irons in the fire leads to split focus and fewer resources for each project. Much like with fires, you might be better off focusing on one.