In 1990, a wealthy parent of one of my students took me golfing. We spent the afternoon discussing business, which was a great way to divert his attention from my poor golf skills.
He was enthusiastic about high finance and imparted a piece of advice that stuck with me: focus on building one business and avoid distractions. His mantra was single-minded growth.
At that time, this advice seemed perfect. As I gained local success, I noticed how people began approaching me with various investment opportunities. Thanks to his advice, I could decline offers that might have distracted me from my primary focus.
Eventually, I felt limited by my two schools. I sold them to create NAPMA and Martial Arts Professional magazine, which became pioneering entities in the martial arts business world.
Over the next decade, NAPMA grew into a multi-million dollar business, helping thousands of schools. My influence expanded, and I wasn’t hesitant to share my opinions on the martial arts industry.
However, my vision often conflicted with individuals who had more financial resources and litigation expertise. This led to a series of costly lawsuits that ultimately resulted in the loss of my company, my car, my marriage, and my platform. Programs like Little Ninjas, MAPro magazine, Fast Defense, and Cardio-Karate were all lost, and I’m still dealing with significant legal fees.
This experience highlighted the downside of single-minded focus. My exclusive reliance on one revenue stream—NAPMA—meant that when it failed, so did my income.
This story underscores the importance of diversifying income streams. Just as a table needs multiple legs for stability, your financial health requires multiple revenue sources.
The key is to avoid chasing every new opportunity. Be selective and say “No” to most offers, especially those in MLM and network marketing. Instead, focus on creating complementary income streams related to your expertise but independent of each other.
I’m grateful for the support of my Martial Arts Teachers’ Association (MATA) members, many of whom have been with me from the start. Their support allowed me to expand and avoid past pitfalls.
Projects like Empower Kickboxing, MartialArtsWebsites and MATA have each become profitable ventures with their own income streams. Though they are different, they complement each other well.
