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E221: Challenging the Notion: The Benefits of Working on Multiple Projects

by Sean Boyce

In this episode, Sean discusses the controversial topic of running multiple projects simultaneously. While the startup world often advises entrepreneurs to focus on just one project, Sean challenges this notion by highlighting the benefits of diversification. He emphasizes the importance of protecting oneself and finding success through working on multiple projects, but not necessarily at the same time.

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Key Points

  • Advisors and investors often suggest focusing on one project for maximum success, but this advice may not align with an entrepreneur’s well-being or overall goals.
  • The odds of achieving major startup success are incredibly low, making diversification an important consideration for protecting oneself from failure.
  • Diversifying projects can provide insurance and increase the chances of success by not putting all the eggs in one basket.
  • While multitasking is not effective and should be avoided, working on multiple projects sequentially allows for exploration, comparison, and redirection of time and resources.
  • Launching multiple products in a year is possible by dedicating different days or periods to each project.
  • By pitting products against each other, an entrepreneur can make informed decisions and adapt investments accordingly.
  • Challenging the notion of exclusively focusing on one project can lead to a more balanced and successful entrepreneurial journey.
  • “I’m looking out for you, the entrepreneur.”
  • “I’m not advocating for you go out and work on like five projects at once…multitasking is not a thing.”
  • “I’ve launched two products just this year already. So clearly I’m working on multiple projects, but some days I’ll work on one other days I’ll work on the other.”
  • “If one is more successful than the other, I can redirect time, investment, whatever. And I want you to be able to do the same.”