Every time I try to leap across multiple steps in building my business, I land on my rear end. If I choose to take slow and steady baby steps and inch along, I make good progress.

Usually, when I try to leap, not only do I fail in what I try to do -- but I also wasted weeks or months when I could have been taking the steady route.

Raising a child is like building a business. With our kids, while they're in elementary school we would like to teach them calculus, but it's not realistic. Or while our kids are in high school, we might wish they skipped college and went straight to grad school but it simply doesn't work that way.

So why when it comes to building our businesses, does the same logic about parenting get thrown out of the water?

Imagine this scenario.

You can work on a partnership that might grow your sales a hundred times.

Or you could work on about a dozen small opportunities that could each grow your business two or three times, and maybe more over time if they gain traction.

What would you do? I know I've fallen for the temptation of the big opportunity several times. And in every instance, I've wasted months and not gotten very far at all. Something went wrong.

With some grey hair, I've learned that the portfolio theory of opportunities, and exploring many smaller things works better in the long run.

I think the temptation to pursue the "big thing" is a part of our business culture--where we celebrate unicorns, and encourage entrepreneurs to be the next Twitter or Facebook.

Sadly, this obsession with quick growth and grandeur often can lead to disaster.

Remember, when a tortoise and a hare are racing, often the tortoise wins the race.

Interested in receiving MultiFunding's monthly newsletter full of tips and advice about business lending click here

Published on: Dec 14, 2015
Like this column? Sign up to subscribe to email alerts and you'll never miss a post.