Economy, Up's & Down's

[Walt Graner]

I remember the Texas economy in the 80's. Hard core, blood on the ground dead, more banks failed here in Texas during the 80's than in the entire U S during the great depression. This made a great resorce for me when building my companys, I was able to talk to folks who lost everything, kept everything, made everything or were just able to hold on. I found that the difference between the haves and have nots was diversification. Here in the last couple of years I noticed that (with almost 8 years of 6% growth) a lot of folks forgot or never knew what a slow economy is like. Now that things have slowed here in Austin I looked at income levels from my companies and found that where one slowed down another had risen. Thank God for business plans, they actually work.

 

[Aplus]

There are some who believe it is best to focus on a "core competency" to be the very best at one activity. Others, believe in the idea of diversification, thinking that at least one area will be on an upswing at any given time. At one time, I too suscribed to one of these thought processes. Now, I am not so sure. Maybe it is better to be proficient in several disciplines.

There's an old saying, about being a "Jack of All Trades, Master of None". Maybe for the 21st century, it should be revised to, "Master of Many"

The old proverb about "putting too many eggs in one basket" may be more appropriate than we all thought.

 

[Walt Graner]

Aplus

The utilization of existing resources is my meaning. A planned branching out of your financial base (getting away from the one legged stool). If you rely solely on power washing you are (in my opinion) too narrowly focused.
Expanding does not equal incompetence.