There is a wonderful thing about running your own home business. You can do anything you want. Unfortunately, that can also be a curse as well. With so many options, many home business wannabe folks have no clue what to get themselves into. Should they focus solely on one niche and product or should they throw their irons into a number of fires? If you’re looking for a definitive yes or no to either, you’re in the wrong place. What you will find here is an objective look at both models. Choose the one that works best for you.

Probably the best way to explain this is with a personal example, so I’ll use myself. I happen to have my irons in so many fires that I sometimes wonder how I keep track of them all. I write salescopy, do consulting, sell products in a number of niches and even do some freelancing writing articles from time to time when I’m in the mood. In short, I am never bored and never without something to do.

What are the advantages of this business model? Well, the biggest advantage is that I don’t have to worry that if one branch of my business has a slump that it will shut off my income altogether. For example, there are some months when I get no copywriting clients at all. There are other months where I get no students to coach. And then there are some months where product sales aren’t what they should be. But I’ve yet to see a month where everything tanked all at once. That is very rare when you do a lot of different things.

However, there are disadvantages to putting your irons in so many fires. The biggest one is that you really can’t focus all your efforts on one thing. There are times that I’d love to be able to spend all my time on creating a major product launch but just don’t have the time because I am either writing sales letters or working with several students. There are only so many hours in the day and I only have two hands and one head. So yes, there are times when it is frustrating because I can’t get done all the things I want to get done.

Also, to run a business with many avenues, you really have to be on the ball. There is a lot to watch over and think about. Sometimes it’s hard keeping everything straight in your head. I personally don’t recommend doing five things if you’re first starting out, but there are people out there with the smarts to do it. I wasn’t one of them as it took me a long time to branch out as much as I have.

Ultimately, you have to do what you’re comfortable with. If you think you can handle several projects at one time, then go for it. It will certainly give you a better chance of hitting it big with one of them. However, if you feel you can only focus on one thing at a time, then do it.

There is no one size that fits all when it comes to running your own home business.

That is the blessing and the curse.

To YOUR Success

Steven Wagenheim

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