To Really Succeed, Find and Stay in Your Lane

In business, some argue that diversification is the solution to competition.  Do a little of everything and the company will always be busy and safe from being unemployed or out of business.  But, some argue, dabbling is not career insurance.  In fact, it often has the opposite effect.  Dabblers make up the majority of current society.  Today’s culture rewards professional experimentation and career variation.  The problem is that such people are caught up in the excitement of “the next big thing” syndrome.  They are invariably lured and distracted by the shiny object, and pursue that for a while, until the next big thing surfaces.

Case in point.  For financial investors, cryptocurrency was the investment tool du jour.  Then it was NFTs.  Then they shift to AI stocks.  With each new thing, they lose interest in the last pursuit in order to focus on the next exciting opportunity.  

The same happens in other businesses and professions.  Attorneys, for example, might start in one field and then expand as opportunities present.  For instance, a solo practitioner might start handling basic real estate transactions.  As part of this work, they might handle property involved in a bankruptcy or a real estate litigation dispute. With each new case, they expand their service offering, allowing them to draw in a wider net of cases.  In doing so, they stop specializing in one singular area of law.  They know a little about many things but never master any area of law.

The same happens to some builders who try to diversify the properties they build or hold.  They might begin building simple starter homes for entry-level buyers.  Then they expand to building bigger single-family homes and multi-family homes because it affords greater profit, efficiency and/or density.  Then they find a piece of land that is perfect for a warehouse and they try their hand at that type of construction.  With each new venture, they learn.  However, that learning curve is steep and they never master a single area enough to avoid costly mistakes, increase ability to scale up, and find hidden gems of efficiency.  With each shift in product, they learn but at the cost of speed, profitability and ultimate success.

It might not be clear how damaging this behavior can be.  The dabbler rarely, if ever, achieves true mastery because they never choose to commit to one thing.  Eventually, dabbling becomes a way of life.  They never get to the point where they own their space with confidence. Dabbling is for amateurs.   Trying one’s hand at a variety of professions or skill sets presents a significant obstacle to achieving true mastery.  This “jack of all trades” approach necessitates spreading one’s time and energy thinly across various areas, hindering the development of in-depth knowledge and expertise in any one field.  Imagine a gardener attempting to cultivate a dozen different types of vegetables simultaneously.  While they may manage to keep each plant alive, their efforts are unlikely to yield the same level of quality and abundance as someone who focuses on cultivating just one or two crops.  Similarly, a professional who dabbles in various skillsets may possess a basic understanding of each, but they are unlikely to attain the level of knowledge necessary to excel in any one area and be seen as a leading expert.

Mastery may not seem as alluring or enticing, but it pays long-term to be an expert.  The age-old adage “a jack of all trades is master of none” carries significant weight in today’s diverse and competitive professional landscape.  While possessing a broad range of skills can be advantageous, it can often come at the expense of achieving mastery in any single area. Conversely, focusing on and fostering mastery in a specific field unlocks a multitude of benefits, leading to a more fulfilling and successful career in the long run.  Mastery allows:

• Focused Commitment – Achieving mastery requires a dedicated and focused commitment. This involves identifying a specific area of interest and channeling one’s time, energy, and resources into a singular pursuit. This dedicated effort fosters a deeper understanding of the chosen field, allowing individuals to delve into the specifics and nuances that elude those with a more casual approach.
• Sacrifice and Risk – The path to mastery is not without its challenges. It often necessitates sacrifices, such as dedicating time to learn and practice.  That time could have been spent on other endeavors. It also involves taking calculated risks, venturing outside one’s comfort zone, and being willing to endure the initial difficulties associated with acquiring new skills. However, these sacrifices and risks are ultimately investments in one’s future success and fulfillment.
• Anticipate Pitfalls – As author and life coach Stephen Richards said, “The master has failed more times than the beginner has even tried.” As individuals progress on their journey of mastery, they develop a keen understanding of the field they are exploring. This allows them to anticipate potential pitfalls and challenges, navigate around them with ease, and develop strategies to overcome any obstacles that may arise. This foresight translates into greater efficiency and effectiveness in their work.  The master avoids costly and painful mistakes.
• Greater Efficiency and Far Fewer Errors – Through mastery, individuals develop a deep understanding of the tools and techniques necessary for their chosen field. This translates into increased efficiency in performing tasks, as their movements become more refined and their problem-solving skills become sharper. Additionally, their thorough understanding of the subject matter minimizes the likelihood of errors, leading to higher-quality work and increased confidence in their abilities.
• Increased Confidence – The process of mastering a skill or field inherently builds confidence.  As individuals overcome challenges, witness their progress, and gain recognition for their expertise, their belief-in-self and self-assurance strengthen. This newfound confidence shines through in their work and interactions, making them more-effective leaders and collaborators.
• Reduced Competition – Perhaps the most significant benefit of achieving mastery lies in the reduced competition one encounters. By specializing in a niche field, individuals set themselves apart from the vast pool of generalists. They become highly sought-after experts within their domain, which opens doors to unique opportunities and positions them for greater success within their chosen career path.

The Dabbler Downfall of Westinghouse

Founded in 1886, Westinghouse established itself as a leader in various sectors, including electrical appliances, radio broadcasting, and nuclear energy. Their early success stemmed from a combination of innovative products (e.g., the air brake for railroads, the electric toaster) and strategic acquisitions. However, their diversification strategy over time led them to spread their resources across a wide range of unrelated industries, which ultimately proved challenging. 

1. Lack of Focus – As Westinghouse entered new markets like medical imaging and financial services, their focus on core competencies arguably diminished. They struggled to maintain the same level of expertise in each sector, potentially hindering their ability to innovate and compete effectively.  This was a classic example of the ‘a jack-of-all-trades is master of none’ adage.
2. Spread-Thin Resources – By venturing into diverse fields, Westinghouse faced the challenge of allocating resources efficiently. The need to manage numerous business units with varying levels of profitability could have hampered their ability to invest sufficiently in any single area.
3. Loss of Identity – The sheer breadth of their operations may have led to a lack of clear brand identity for Westinghouse. Consumers struggled to associate the company with any specific product category or expertise.

While not solely responsible, the lack of specialization likely played a role in Westinghouse’s decline. The company faced several other challenges in the late 20th century, including increased competition.  Global competitors with a more focused approach emerged in various sectors, putting pressure on Westinghouse’s market share.  They also had financial troubles in the 1990s, culminating in multiple mergers, acquisitions, and ultimately, a 2002 filing for Chapter 11 bankruptcy.

It is important to acknowledge that Westinghouse’s story is complex and multifaceted. Several factors contributed to their downfall, not solely their lack of specialization. However, their case serves as a cautionary tale highlighting the potential challenges of over-diversification and the importance of maintaining focus and mastery on core competencies for long-term success.

Finding the Sweet Spot

An emphasis on mastery does not negate the value of acquiring a breadth of knowledge and experience. Having a diverse skillset can be beneficial in certain situations, allowing individuals to adapt to changing environments and explore new opportunities. However, the key lies in striking a balance. By dedicating a significant portion of one’s time and energy to mastering a specific field, individuals can unlock a unique set of advantages, ultimately leading to a more fulfilling and successful career.

In today’s dynamic world, the pursuit of mastery is more crucial than ever. By choosing to specialize and dedicate themselves to achieving expertise in a specific area, individuals can unlock a plethora of benefits, including increased efficiency, reduced errors, enhanced confidence, and a significant reduction in competition. While the path to mastery may be challenging, the rewards it offers are undeniable. By embracing the spirit of focused commitment and embracing the challenges that come with it, individuals can carve their own path to success and become true masters of their chosen craft.  The Master commits to greatness in every action they take.

Quote of the Week

The difference between the amateur and the professional is in the mastery of details.

Charles F. Glassman 

© 2024, Keren Peters-Atkinson. All rights reserved.

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