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  • What do I have to say about diversifying your portfolio or diversifying your focus?

  • So it's actually very simple, I believe.

  • Focus before you diversify.

  • Doesn't matter what it is that you do so in the beginning.

  • Do you want to find out what, personally, what your skill sets are while your natural talents are, and focus all your energy into developing that and mastering that first focus?

  • Once you do that, then you can try to do something else.

  • But before you do that, if you try to do too many things the same time you heard of the saying right, Jack of all trades master off.

  • None.

  • So they say, when it comes to school, set in the beginning.

  • Only focus on one skill set.

  • And once I believe I have gone in a pretty, pretty good hang of that skill set that developed a new excuse set stacking on the first school set on 1/2 and the first you said that I focus on developing, was cooperating how to write campaigns and sells letters and sells messages, then laid on a stack on the second skill, which then it's consulting right.

  • A steak on that scale and then later on, it's It's closing a second desk, you and so forth.

  • So focus first before I diversify.

  • I wasn't trying to develop all these new sets at the same time.

  • He told me over Now a decade to develop different skill sets over the years.

  • Step by step.

  • That's from a a personal skill set perspective.

  • When he comes to investment, it is the same idea.

  • You see the challenge with most people is they chased too many shiny objects because they don't have a very clear criteria as an investor, what they invest in, what to say no to Hey, you know what So and so says that's a good idea to get all hyped up in psych damn about certain things they see on Facebook.

  • That's cool.

  • So and so we'll talk about that, you know, some so and so is getting into marijuana again to mellow wanna so and so is getting into this.

  • I should get you dead.

  • And so it was getting the crypto currency.

  • I should get a Cryptocurrency.

  • I'm not saying do and don't I'm saying, Do you know what you're getting yourself into?

  • How much do you know about the industry.

  • How much you know about the investment?

  • What kind control do you have?

  • It's an investor.

  • Hello.

  • So think about those things.

  • You cannot answer those questions.

  • You're not ready to make those investments.

  • So when it comes to investing instead of trying to invest in so many things, it's better to focus.

  • First, make your money first, focusing on developing a bake stream of income by massive stream of income.

  • First, right before you diversify, you study wealthy people around the world, almost all of them.

  • They have a core business.

  • The core thing.

  • A core investment that makes them almost all the money.

  • Then device, diversify into other things, right?

  • You need to find that one thing for us when this is strong, when your foundation oh, your basic income stream your core business when there's growing and the strongest throwing off a lot of cash and capital.

  • Now you can deploy that capital, and now you can diversify into different industries.

  • When you try to do that, the beginning and that's like financially in a suicidal because you lose focus, and by the time you have more resource is it also means that you have more of a team to help you manage.

  • In the beginning, I only had a little, little one little team.

  • And now you have a pretty big team in your financial planner and tech strategies and legal counsel and the countenance.

  • Jawohl, bookkeeper, Go on and on.

  • No.

  • Now you have a whole group of people making financial decisions alongside with me about what I do right with with in terms of managing money, right?

  • I get the advice.

  • But I didn't get there overnight.

  • They step by step, so focused before you diversify.

  • It is tempting to say, Hey, you know what?

  • Maybe I can get quick like doing that it professional investor.

  • A sophisticated investor doesn't do that.

  • A professional investor knows this is my investment criteria.

  • If these investments doesn't fit that criteria, I don't even look at it.

  • But if it fits my criteria, then yes, then I would consider it looking into it.

What do I have to say about diversifying your portfolio or diversifying your focus?

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