Hedging your bets fails in marketing and craps

There are many, many ways to lose your money playing craps.   And the easiest way is to hedge your bets.  You lose.  Classic rookie mistake.

Marketing is the same thing.  You have to stay focused on what you are doing, for whom and your key values.  As soon as you start hedging your bets by chasing too many "opportunities" you lose.  (By all means leverage what you are doing to move into new areas.)

This usually goes with an Eeyore attitude "Well, this may not work, so just in case......"    Play to win, don't play "not to lose".  (apologies to "Searching for Bobby Fischer")  That attitude will spill over into everything you do and your market will ignore you.

Comments

[Mary Schmidt]

Well, there are no "guaranteed safe risks" in life or biz. But, then I was the one in bridge class that was thrilled when I found out we could "bluff" (Wow,two hearts,huh?)

Or, as 007 said in Casino Royale, You don't play the cards, you play the man." (or market in this case.)

[Frank]

As they say on the basketball courts of New York city, 'Come strong to the hoop or don't come at all.