Focusing on One Business
"In many ways, we're a one-trick pony. It's just a good trick. (Jeff Bezos, CEO of Amazon)"
What are your strengths?
"Google writes powerful search algorithms; Steinway works wonders with wood; Cisco sniffs out promising new technologies and buys them. Figure out what you're good at and stick to it. An obvious notion, perhaps, but plenty of zealous entrepreneurs lose their way--especially when the world seems so full of possibilities."
Loss of Focus
"Loss of focus is what worried Charlie Munger and me when we contemplate investing in businesses that in general look outstanding. All too often, we've seen value stagnate in the presence of hubris or of boredom that caused the attention of managers to wander."