Focus is Always Good, Tunnel Vision is Always Bad
One of the common themes of advice you get from the top gurus in the entrepreneurship world is focus. You hear time and time again that in order to be a great founder, you must not let working on too many ideas distract you.
In my experience, this advice is spot on. I’ve met several entrepreneurs through the years who ran multiple businesses at the same time. None of their ventures were very successful. Running multiple businesses is basically a clear signal that an entrepreneur is struggling.
On the other hand, it’s important to not confuse focus with tunnel vision. Tunnel vision as an entrepreneur is the act of ignoring adjacent industries and downstream competitors. In addition, tunnel vision includes being so focused on your business that you totally disengage from the community.
Tunnel vision leaves you open to blind spots such as:
- Difficulties in finding good people for your team. Your network of contacts is weak and you don’t have trusted partners to reach out to for personal referrals
- Challenges with raising money. Again, because of your weak network you can’t leverage the experience of peers and mentors who have direct connections with investors
- Adjacent industry leaders catching you off guard. Your disengagement from the community allows new business models to siphon off customers right under your nose
How to Avoid Tunnel Vision
- Mentor / advise other entrepreneurs, aspiring entrepreneurs, and college students
- Sit on a board of one or more non-profits or strartups
- Get involved with the entrepreneurial events around your city such as contest, incubators, hackathons
- Attend 2 to 3 industry trade shows and conferences each year
- Participate in a mastermind group with your peers
- Invest in your personal development by hiring a coach
Hat tip to David Cohen for inspiring this post.