
This is a guest post by Ari Shapiro. Find his stellar work at Dauberart.com
What gets you up in the morning?
What do you think about that keeps you up at night?
What does success look like to you, and how do you get there?
As a small business owner, that’s a serial Jack of All Trades who also values personal adventure, one of the biggest challenges for me is how to answer each of those questions while keeping things interesting and keeping the bills paid.
The answer to each of those questions to me is:
Variety, Variety and Variety.
Most of my time is spent as a Commercial and Event Photographer. I am also a videographer and corporate video producer, a whisky educator and ambassador, an app developer, a travel blogger, a podcast producer, a pilot, a bingo lover, and an avid sunset watcher.
Monotony is the bane of my existence.
Think about the last time you hurt your foot. Whether it was jogging, rock climbing, going down some steps… You may have thought about seeing a Podiatrist but an Ear, Nose and Throat guy didn’t even cross your radar.
Each of them is an expert in their field – a specialist. There is value in that, but in trying to create your own personal freedom – in trying to grow your personal brand – there’s more value in being really good at a few different things.
The first piece of advice you probably received from a stock broker or financial advisor – “Keep a diversified portfolio.” By keeping all of your stones in one basket, there’s danger of the basket breaking.
Think about the great loss in 401(k) funds in the last few years, but also think about how much you could have made if it were all in gold? (FYI, money invested in gold in early January, 2000 would have seen a 600% return today – nearly 700% if you had sold in late August, 2011). Hindsight is 20/20.
No one knows better than the aging public who couldn’t retire when they planned that having a diversified financial portfolio is very important.
Keeping a diverse professional portfolio is just as important…and a hedge.
Check out The 80/20 Principle by Richard Koch
In short, 80% of your income comes from 20% of your efforts. Likewise, 80% of your headaches come from 20% of your problems.
If you spend the right 20% of time on 5 different projects, you’ve just quadrupled your income.
And even if you let something bog you down in the process, at least it keeps things interesting.
Another benefit to keeping different balls in the air: On any given day you’re able to process and plan based on a different topic. It’s not just good internal mental yoga but it also makes sure your external ventures have a more global perspective.
For example, if all you know is the route from home, to the office, to home, to the grocery store, to home, to the movie theater, to home – not only might you be missing the best little sandwich shop thats just a block off your normal route but you might also miss a shortcut that makes the drive home just a little quicker.
In business, if all you know is your little corner of your little industry, not only might you be missing something that is more fun, more fulfilling and more interesting to you personally, but you may also be missing something that makes it faster and easier to reach your financial goals.
Don’t be afraid to blaze your own trail. Don’t be afraid to keep your options open. Don’t be afraid of a diversified professional portfolio.
Don’t be afraid to have fun, and to be successful.
About the Author
Ari Shapiro is a commercial photographer specializing in advertising, editorial and event photography and video. He’s spent over 15 years in the event industry working along side many of the top companies on the Fortune 500 list, photographing, managing and producing events of 50,000+ people. His studios are in Seattle, WA and he supports his clients around the globe. His portfolio is available online at DauberArt.com and he can be reached via email at Info@DauberArt.com. Ari is also a passionate educator, a habitual traveler, a blogger, a bingo lover, a pilot and an avid sunset watcher.