“Diversification is for idiots” Mark Cuban
You will hear people tell you that you must “diversify” and not have all your eggs in one basket. Well…what if all your eggs were in the “Apple” basket…a company that has more cash reserves then the United States Government? All of the sudden you would want to rethink that…huh?
I think its best to look at this in stages. When you are creating wealth for yourself, the last thing you want to do is spread yourself so thin. You have to identify the right thing for you to invest your time & effort in and if that thing is going to get you the return you want. If you don’t do that first, you will not likely get anywhere, other than just look and seem busy.
If you look at all of the Richest People on the planet, Bill Gates, Mark Cuban, Larry Ellison, Oprah Winfrey and Warren Buffet, they all created their wealth by being singled minded and not diversified.
Warren Buffett said, “Diversification is protection against ignorance. It makes little sense if you know what you are doing.”
So if you are an aspiring Entrepreneur, find that “One” thing that you know you can do, and go do that “One” thing better than anyone else! And you will surely be on your way to greatness.
Go get it,
CEO Blackstone Medical Services