As driven entrepreneurs and hungry investors, we’re always searching for that big idea or once-in-a-lifetime deal. Then we find ourselves in a bunch of random businesses and investments in a bid to increase the odds of success. More often than not, that only leads to a loss of focus and ultimately, a loss of wealth. What if getting to that billion dollar idea is as simple as picking something and concentrating on that? There’s a ton of different things we could be doing, the real challenge is learning to focus and be patient. For Andrew Abernathey, concentrating on one idea allowed his business to ramp up to $250 million in a very short space of time. At one point, he was involved in a slew of random areas. It took losing a ton of money for him to realize that he didn’t know who he was or what exactly he was good at, and that’s why he was trying everything. That was the major turning point that made him think about his billion dollar idea and let go of everything else. The effect of his concentration can be seen in his results, and it’s something all entrepreneurs should think about. The urge to do everything will never go away for entrepreneurs. If you follow that urge, it might just rob you of the big idea you’re looking for. Instead of searching for the perfect idea and trying to do everything, think about what you can be great at and just focus on that. It’s hard and goes against every instinct we have as investors - just like the instinct to never sit on cash. Ultimately, putting your hands in too many pies and doing a deal for the sake of doing a deal is how big mistakes are made. Guest Info Andrew Abernathey is the founder and CEO of Abernathey Holdings (AH), a leading real estate holding company driven by a passion for business and inspired by the value investing approach of Warren Buffett and the simplicity approach of Gary Tharaldson. His investing journey began at the age of 13, exploring a diverse range of public securities. Established in August 2012, AH initially pursued a diverse investment strategy. However, in 2019, they strategically shifted their focus to developing and owning class-A self-storage facilities across the sunbelt region, while also owning the operating companies to ensure vertical integration. This streamlined approach has not only enhanced their returns but also propelled AH to achieve remarkable market-beating results, elevating their assets under management (AUM) to an impressive $250 million. For more information, go to https://www.andrewabernathey.com/, https://abernatheyfoundation.com/ and https://unseen.org/. CTA Please leave us a review at https://ratethispodcast.com/nla

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