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▲ Michael Saylor / Source: Michael Saylor X
Michael Saylor, co-founder and chairman of Strategy (MSTR), revealed his experience of pursuing 10 business ideas after the company's valuation surpassed $1 billion, emphasizing, "Focus on what's working."
According to crypto-specialized media Benzinga on July 4 (local time), Saylor looked back at Strategy's early growth period in the "When Shift Happens" podcast released on May 21. At the time, the company grew rapidly, exceeding a valuation of $1 billion.
Immediately after the success, Saylor's attention turned to new ventures. He said, "I had 10 different ideas and tried to start 10 different businesses." He then explained that instead of dedicating 150% of his energy to the existing business, he divided his focus among several projects.
Saylor cited Alarm.com Holdings (ALRM) as a prime example. He stated, "I started the company and spun it off, but realized that I couldn't manage two companies simultaneously." He added, "If I hadn't let go, I would have ruined the company's growth."
The BusinessAngel.com venture also failed to grow as expected and was sold for $100 million. Saylor stated, "I did many things, but most were not more successful," adding, "None of them were more successful than Strategy."
Saylor cautioned against the choice of entrepreneurs who rapidly expand into multiple businesses after initial success. He emphasized, "The problem is that focus gets diluted and attention is scattered," and "If something is working well, focus on it." Subsequently, Strategy incorporated Bitcoin (BTC) into its corporate treasury strategy, and the company's value surpassed $36 billion.
[Article Summary]
-Michael Saylor, co-founder and chairman of Strategy, revealed his experience of pursuing 10 business ideas after the company's valuation surpassed $1 billion.
-Saylor stated that he realized the limitations of diffused focus after the Alarm.com spin-off and the $100 million sale of BusinessAngel.com.
-Saylor cautioned against excessive business expansion immediately after success, emphasizing, "If something is working well, focus on it."
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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