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Focused Diversification

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Quick Spin:

• What Diversification actually means
• What is Focused Diversification
• 3 Steps to increasing optionality without losing focus

🧩 Thanks for keeping Life's a Game Free

You know that feeling of being surprised by a delightful experience in a situation that's usually less than delightful?

That's what it's like banking* and managing my money with Mercury (which you'll read more about in a minute). Paying bills and tracking my expenses isn't inherently all sunshine and rainbows, but with Mercury*, it's a good reminder that better experiences are out there if we're willing to look for them. See for yourself.

♟️ MY TURN:

If you are new here, Life’s a Game is ALL about playing the game of life at a different level and questioning the current rules and players.

One of the biggest questions I get when I talk about building a portfolio career is FOCUS vs. DIVERSIFICATION.

“Amanda - if you are doing multiple things at once, you aren’t focused.”

They are right….well, partially.

Today, we are going to dissect the word “diversification” and what it actually means.

But first a story…..

About 56 months after House of Wise moved to its new owners, I woke up to a Chase notification saying my credit score had dropped by 200 points.

I’m no longer associated with the company, and it turns out the line of debt we had taken out as part of the transition agreement to inject capital into the company had defaulted.

And I was named as the personal guarantor.

Chase decided to drop my personal credit limit, and I was left with legal bills, maxed-out personal credit cards....

and limited options.

This is why I'm now a huge advocate for a portfolio of revenue streams.

This is also why I am a HUGE proponent of bank diversification and subsequently opened an account with Mercury.* See it for yourself.

They are known for being loved by 200k+ startups and businesses, but I didn’t know they were also for agencies, solopreneurs, consultants, and more until I started doing research.

I now send all my invoices through Mercury and have diversified where my money lives to ensure I have optionality and agency.

3 Reasons to think about Diversification in your life

1. Not Putting All Your Eggs in One Basket - if one fails, not all fail
2. Reducing Volatility - like when your former company tanking your credit score
3. Cast a wider net - rising tide could lift multiple ships (ex: newsletter subscribers become coaching clients)

Here’s the thing most people get wrong….

Diversification is not the opposite of focus.

Want to learn how to add diversification to your life without losing focus?

Keep reading.

♟️ YOUR TURN:

Here’s 3 steps to diversify without losing focus:

Step 1: Strengthen your core (mission)

Everything you build (every product, platform, service, or offer) should ladder up to / support a bigger mission.

For me, it’s helping ambitious people find a new approach to success.

That means whether I’m writing, coaching, consulting, or running a cohort, it all connects.

Ask yourself:

Does this thing support me in building toward my larger mission or distract me from it?

Step 2: Choose 1 anchor + 1 experiment.

You don’t need five revenue streams overnight.

You need one that pays the bills…….and one that stretches you.

Keep the anchor steady (maybe that’s consulting or a part-time job), and let the experiment (like a newsletter, offer, or community) grow with low pressure.

Ask yourself:

For next month: What’s your anchor? What’s your experiment?

Step 3: Diversify your distribution, not your message.

You don’t need to say 10 different things. You need to say 1 thing, 10 different ways….on Instagram, in your email, on a webinar, in a DM.

Ask yourself:

Where could your message be seen by more of the right people?

You are now thinking about diversification WITH a focus.

TL;DR Focused diversification is the path to optionality, low risk, and more success.

Where do you think you can add more focused diversification?

Reply and let me know!!

Disclaimer *Mercury is a financial technology company, not a bank. Banking services provided through Choice Financial Group, Column N.A., and Evolve Bank & Trust; Members FDIC.

113 Cherry St #92768, Seattle, WA 98104-2205
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