The difference between diversification and chasing too many rabbits

Have you ever heard the saying "if you chase too many rabbits you won't catch any"? The logic there is pretty sound, no? If you spend too much time chasing odd and varied goals, it becomes really damn hard to accomplish anything with any degree of success.

At the same time, how many times have you been told that diversification is the key to continued success? Sounds like a contradiction, right? The problem with cliche based advice, in any area of your life, is that no one really takes the time to really understand what it means.

There IS a difference between diversification and chasing too many rabbits. A lot of people don't take the time to figure out this difference though.

An example of chasing too many rabbits might be the guy down the street that fixes motorcycles and runs a lawn care/snow removal service. In a situation like that you may have moderate success doing both, but there's no room for growth because there's no room for serious dedication to either one.

Diversification though is a whole other animal. A good example of diversification is the musician who writes, records, and performs music, but finds other ways to make his talent work for him, such as licensing his music to film, tv, or web. He's still working within his field and can fully dedicate to growth and expansion, but is finding other avenues to generate the income he needs to make that growth happen.

It's a fine line between the two, but it's one that we have to find in order to be the best we can be. To grow beyond the normal limitations of our skill or trade.

What can you do to hang up your rabbit chasing ways and diversify?