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You only need a 1 or 2 good business ideas to become rich
Everyone thinks you need 10 or 20 different websites making passive money in order for you to be successful. This is so far from the truth, because there are websites you visit every single day that are the only one in that businesses portfolio, and they are very rich. You only need a few good business ideas to become rich and a few more to become wealthy, which is what we all strive to be when we grow up, so why are we focusing on dozens of niches with various websites and thinking we'll be rich in no time?
People spread themselves too thin when it comes to websites, and that's why a lot of us aren't successful. We don't try to brand ourselves and drop websites if they're not profitable within the first week. I use to do this all the time, I actually had 29 websites up and running at the same time and was trying to push them all towards success, but now I know that's ridiculous. Right now I have 3 main websites and I'm setting up a 4th, and the 3 that are live are making me more money now than when I had dozens up and running. I can focus more on a few things than a dozen things, and that's why you only need 1 or 2 good ideas to become rich and a few more to become wealthy.
Great investors don't branch out much
Warren Buffet once said in a discussion "In invest in what I know, I don't take chances, and I have a better chance at making money because of this" and he's absolutely right!
How many times have you jumped into a niche because you thought there was money to be made but you didn't really understand everything there was to know about that niche? Most of us have jumped in without hesitation when we hear how much money someone else is making in it, but those other people thoroughly know the niche, unlike us and that's the game changer.
Great investors like Warren Buffet won't invest in something they're unaware of or understand, and that's why their investments tend to be more successful, because they know what to look for and can see red flags before the company they're investing into does. No red flags mean it's a good investment and if there are some, they can easily be fixed with hopes of turning a bad investment into a good one.
If a baseball player only swung at pitches in their sweet spot, they will likely have a 400 average, which is really good. This is how investors think, they only swing at investments in their sweet spot so they know they're going to be more successful and miss less. The difference between baseball players and investors, the baseball player has to swing within a few pitches in order to hit the ball and an investor can watch 1,000 pitches before he or she swings for success
1 or 2 big business ideas can make you rick, 4 or 5 can make you wealthy
You don't need to spread your money across dozens or hundreds of investments, you just need to find 1 or 2 big ones that can help you become rich. Now, if you have the right formula, you will probably be able to find a few more and invest in 4 or 5 companies, then you'll likely become wealthy
Take your time when it comes to websites because having just one or two great platforms can boost your profits enough to build a few more that can make you wealthy
You don't need to be right now in order to be rich tomorrow, you just need to know what risks to take and you can't spread yourself too thin. Watch 1,000 pitches before you jump in and invest some money into something. You don't have to be an investor into someone else's business, you can invest in your own, just be sure it's a home run before you swing
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