Should I focus on one product at a time or diversify quickly?
This is a classic conundrum many creatives and entrepreneurs face. Reflecting on my journey from a structured engineering role to the freedom of freelancing, I've found that focus and diversification play different roles depending on where you are in your journey and what your resources look like.
When you're starting out, focusing on one product can be incredibly beneficial. It allows you to channel all your energy, creativity, and resources into making that product the best it can be. This is particularly important if you're new to the freelancing scene or launching a new venture. It enables you to develop depth over breadth—testing the market, understanding your audience, and refining your product in response to real-world feedback. This is much like the 'Develop' phase in my Capture, Develop, Expose framework. You’re crafting something that stands out because it has your undivided attention.
Once you’ve captured a loyal audience or customer base with that product, it might then make sense to consider diversification. This doesn't just spread your risk but also taps into different facets of your customers' needs, potentially increasing your income streams. It was only after successfully launching one product that I found space to experiment with others, utilizing the insights gained from my initial efforts.
Consider asking yourself a few questions: - Do I have the bandwidth and resources to maintain quality across multiple products? - Is there a clear audience demand for multiple offerings, or are they asking for something specific that I haven't fully delivered yet? - Am I risking spreading myself too thin, or do I have systems in place to handle diversification?
Ultimately, it's about aligning your strategy with your current capabilities and goals. There's no one-size-fits-all answer, but understanding your capacity and the actual demand will guide your decision. Embrace each step at your own pace and redefine success as it suits your values and lifestyle.