Multi-Tasking Now Is the Crucial Difference Between Success and Failure for Entrepreneurs

by: Geoff Ficke

Multi-Tasking Now Is the Crucial Difference Between Success and Failure for Entrepreneurs

The early 20th century British politicia
James Maxton once famously quipped, “If you cannot ride two horses you have no right in the circus”. The same is true for aspiring entrepreneurs. The ability to apply oneself to multiple tasks, and most importantly, to act in a timely fashion is crucial in achieving goals.

Our work over many years with a wide range of small businesses, inventors and entrepreneurs always, always confirms this most elemental reality. Successful people always have the capacity to juggle many balls and they do not delay to take necessary action. The greatest telltale sign that a person will be unsuccessful is when inaction is a common occurrence, over-analysis the norm and goals are straight lined, not undertaken in parallel channels.

Let’s assume that the entrepreneur is working to develop a wellness drink product. Marketing strategies must be customized, packaging chosen, dietetic and lab work performed, legal protections undertaken, graphic arts for packaging and branding designed, point-of-purchase display created, a web-site developed, product liability insurance purchased and many more key components necessary to launch the drink must be organized. The success driven person will be attacking each element on their Gantt Chart in a disciplined, driven manner. The dallying dreamer will stumble along, one item at a time and be stymied whenever a hurdle arises.

The very nature of entrepreneurship is that it is not easy. If it was, everybody would be doing it. Invariably, whenever I tell someone what my Product Development and Marketing Consulting Company does for clients I am met with a proclamation of intent and stated desire that “I have always had an idea for a business (or product)”. Yet they have never acted on their urge. Everybody dreams about being self-employed, successful, calling the shots. However, most people should stick to their day jobs.

Of the hundreds of consumer products we review each and every year only a handful will ever see store shelves. Quite a high percentage of the others are actually commercially promising. They simply lack an entrepreneur with vision, courage and real energy to push the concept to reality.