At a dinner party, Warren Buffett and Bill Gates were sitting at the same table. A woman asked them the key to their success. They both had the same answer, “Focus”.
How many things can we focus on? Focus on and deliver a quality effort. Put in the time with care and attention to detail.
I have limited bandwidth. I think we all do. Some are wider, some are narrower, but we all have a limit.
Bandwidth was a big driver in our decision to delegate the management of each subsidiary to a qualified CEO. If my partner and I ran each business ourselves, we would have capped out at 2-4 companies. If we wanted to own a large, diversified Holding Company, we needed to delegate. Bandwidth.
Bandwidth is why I say no to any active investment outside of my HoldCo. I want all my attention focused on what I am building. I have no side hustle. I do not angel invest. I do not take minority stakes. I am not belittling those who do. That strategy simply does not work for me. Bandwidth.
Bandwidth is why I limit my outside commitments. I was on 2 non-profit boards. After 11 years I ended up having to leave one because it was too much. I am not going to take on the commitment if I cannot do it with quality and I could not do both with quality. Bandwidth.
What occupies most of my bandwidth? My family. I am married with 3 kids. A 9-year-old, 3-year-old, and 4-month-old. My family comes first. Before the company, before the other commitments.
It is a lot sometimes. Bandwidth.