Ian Wiedenman blog

I grew my company ITW Creative Works from a start-up to a thriving creative development agency through strategic business growth and strong client relationships.

Why I Believe Diversification is Key to Business Success

Why I Believe Diversification is Key to Business Success
Business Strategies Entrepreneurship Startup Growth 12 min read 4 comments

Discover why diversification is key to business success through the journey of solopreneur Ian Wiedenman, who expanded from a single project to multiple innovative ventures.

Introduction: The Journey of a Solopreneur

Hello there! I’m Ian Wiedenman, and if you’re reading this, you’re probably curious about the ups and downs of my solopreneur journey. Well, grab a cup of coffee (or tea, if that’s your thing) and let’s dive right in.

Being a solopreneur is a lot like being a one-person band. Imagine juggling multiple instruments while trying to stay on beat and create something harmonious. It’s challenging, exhilarating, and sometimes downright exhausting, but oh boy, is it rewarding when things come together!

My journey didn’t start with a grand vision or a meticulously planned roadmap. It began with a single spark of an idea—Somiibo. I was just another guy with a passion for technology and a dream of creating something impactful. I poured my heart and soul into it, working late nights and weekends, fueled by copious amounts of caffeine and sheer determination.

But here’s the kicker: success didn’t happen overnight. There were moments of doubt, times when I questioned my sanity, and plenty of trial and error. Yet, each setback was a lesson in disguise, teaching me resilience and pushing me to think outside the box.

As Somiibo began to take off, I realized that sticking to just one project, no matter how successful, could be limiting. The world of technology is ever-evolving, and to stay ahead, I needed to diversify. This epiphany was like a lightbulb moment, illuminating a path I hadn’t considered before.

So, buckle up as I take you through the highs and lows, the learnings and un-learnings, and the exciting ventures that followed. From Somiibo to Slapform.com and StudyMonkey.ai, it’s been one heck of a ride, and I’m thrilled to share it with you. Let’s get started!

The Birth of Somiibo: A Single Project’s Success

Picture this: a bright-eyed solopreneur with a head full of dreams and a heart brimming with ambition. That’s where my journey began. Fresh out of the hustle and bustle of corporate life, I decided to spread my wings and explore the uncharted territories of entrepreneurship. My first baby? Somiibo.

Now, you might be wondering, what exactly is Somiibo? Well, it’s an all-in-one social media automation platform designed to help users grow their online presence. Think of it as a digital assistant that tirelessly works behind the scenes, ensuring your social media game is strong while you focus on more pressing matters, like perfecting your coffee-brewing skills.

Creating Somiibo was no walk in the park. It involved countless late nights, gallons of coffee, and a fair share of tech glitches that made me question my life choices. But, as they say, no pain, no gain. Slowly but surely, Somiibo started to take shape. It went from being a rough concept scribbled on a napkin to a fully-fledged platform with a loyal user base. The thrill of seeing my creation come to life was nothing short of exhilarating.

But here’s the kicker: while Somiibo was a success in its own right, it taught me a valuable lesson about business diversification. As the platform gained traction, I realized that putting all my eggs in one basket might not be the smartest move. Sure, Somiibo was thriving, but what if the social media landscape changed? What if new regulations or algorithm updates threw a wrench in the works? The thought was enough to keep me up at night.

That’s when I started to explore the concept of business diversification. I stumbled upon an insightful article on Entrepreneur that highlighted the importance of spreading your business risks and tapping into new markets. This idea resonated with me on a profound level.

Diversification, as it turns out, isn’t just a fancy buzzword thrown around in business circles. It’s a strategic approach that can safeguard your entrepreneurial journey from unexpected hiccups. By branching out and creating new projects, you not only mitigate risks but also open up new avenues for growth and innovation.

The success of Somiibo was a stepping stone, a launchpad that propelled me towards exploring new horizons. It was the spark that ignited my passion for creating diverse business ventures. And as I ventured forth, armed with the lessons learned from Somiibo, I knew I was on the right path.

In the end, Somiibo wasn’t just a project; it was a catalyst for change. It taught me the essence of adaptability and the power of diversification. And for that, I am forever grateful. So, if you’re out there, teetering on the edge of your entrepreneurial dream, remember this: success often starts with a single step, but true growth comes from diversifying your journey.

Stay tuned as I dive into the next chapter of my adventure, where I explore how expanding my horizons led to the creation of innovative projects like Slapform.com and StudyMonkey.ai. Trust me, it’s a wild ride you won’t want to miss!

Why Diversification Matters: Lessons Learned

When I first dipped my toes into the entrepreneurial waters, I had no idea just how tumultuous and rewarding the journey would be. Somiibo, my maiden project, started as a one-man show, and boy, was it a wild ride! You’d think that pulling off a successful project would mean smooth sailing from then on, right? Well, not quite. It wasn’t long before I realized that putting all my eggs in one basket could be a risky game. Here’s why diversification has become my mantra for business success.

Let’s face it, the market is unpredictable. One day, your innovative tool is the darling of the tech world, and the next, a new competitor or an unexpected market shift can throw a wrench in your plans. By diversifying, I’ve spread my risks and created multiple revenue streams. It’s like having a safety net for my entrepreneurial dreams. For instance, when Slapform.com and StudyMonkey.ai joined my portfolio, it was like adding new strings to my bow. These projects didn’t just bring in additional income; they also opened up new learning avenues and customer bases.

Now, you might be wondering, “Isn’t managing multiple projects a juggling act?” Absolutely! But that’s where the fun lies. Each new venture brings its own set of challenges and rewards, keeping the entrepreneurial spark alive. Plus, it’s a fantastic way to avoid burnout. Working on different projects means you’re constantly shifting gears, learning new things, and staying engaged. It’s a bit like having a buffet of business opportunities, each one offering a different flavor.

Another lesson I’ve learned is the power of cross-promotion. By having a diversified portfolio, I can leverage the success of one project to boost another. For example, users of Somiibo might find Slapform.com incredibly useful, and vice versa. This interconnected ecosystem not only enhances customer retention but also maximizes the reach of my marketing efforts.

And let’s not forget about innovation. Diversification fosters creativity. When you’re working on varied projects, you’re continually exposed to different problems and solutions. This cross-pollination of ideas can lead to breakthroughs that you might not have stumbled upon if you were laser-focused on just one project. It’s like being a bee hopping from flower to flower, collecting the best ideas and bringing them back to your hive.

But don’t just take my word for it. Plenty of successful entrepreneurs swear by diversification. According to an Inc. article, diversifying your business can be a strategic move to ensure long-term success. And honestly, seeing the tangible benefits of having multiple ventures has solidified this belief for me.

For those who are curious about the nitty-gritty details of my journey and the lessons I’ve learned along the way, I’ve written about it extensively on my blog. The adventure from Somiibo to Slapform.com, and beyond, has been nothing short of enlightening. It’s a testament to the fact that diversification isn’t just a buzzword—it’s a vital strategy for sustainable growth and innovation.

In a nutshell, diversification has been my secret sauce for navigating the unpredictable seas of entrepreneurship. Whether it’s mitigating risks, fostering innovation, or simply keeping things exciting, having multiple projects has been a game-changer. So, if you’re on the fence about branching out, my advice is simple: dive in and explore the myriad opportunities that diversification can bring to your business. You never know what treasures you might uncover.

Expanding Horizons: From Slapform.com to StudyMonkey.ai

After the success of Somiibo, I found myself at a crossroads. Should I bask in the glory of a single triumph, or embark on new adventures? Naturally, I chose the latter. It’s like they say, “Variety is the spice of life,” and in business, diversification is that spice rack you can’t do without. So, I set my sights on new horizons, starting with Slapform.com.

Slapform.com was born out of a simple idea: streamline the process of creating and managing online forms. It wasn’t rocket science, but it was a necessity for many businesses. The response was overwhelming, and Slapform.com quickly became a go-to tool for startups and established companies alike. This venture taught me an invaluable lesson: even the simplest ideas can blossom into successful projects if they address a genuine need. Startup success often hinges on solving real-world problems in innovative ways.

But why stop there? My entrepreneurial itch was far from scratched. Enter StudyMonkey.ai, an entirely different beast. This project aimed to revolutionize how students and professionals approached learning and productivity. With AI-driven tools, StudyMonkey.ai offered personalized study plans, productivity hacks, and a whole lot more. The leap from web forms to AI-driven education tools might seem gargantuan, but that’s the beauty of diversification. Each project, no matter how distinct, builds on the experience and insights gained from the previous ones.

One might wonder, how do you juggle such diverse projects? The secret lies in recognizing that each venture, while unique, shares a common thread: innovation. Whether it’s simplifying form creation with Slapform.com or enhancing learning experiences with StudyMonkey.ai, the goal remains the same – to innovate and provide value. Plus, let’s be real, it’s a lot more fun this way!

Through these journeys, I’ve documented my experiences and lessons learned, hoping to inspire others on their entrepreneurial paths. You can read more about my adventures and insights in my blog posts on turning a single project into a thriving business empire and expanding beyond Somiibo.

Diversification is more than just a strategy; it’s a mindset that keeps the entrepreneurial spirit alive. It pushes boundaries, fosters innovation, and, most importantly, makes the journey an exhilarating ride. So, whether you’re a budding entrepreneur or a seasoned business owner, remember this: diversify, innovate, and never stop exploring new horizons. For more insights on mastering the art of diversification, check out my detailed guide here.

Conclusion: The Future of Diversified Business Ventures

As I reflect on my journey from a solopreneur with a single project to a diversified business owner, I can’t help but feel a mix of pride and excitement for what’s to come. Diversification has been my secret sauce, the magic ingredient that has turned a simple idea into a thriving empire. And let me tell you, the future looks brighter than ever.

Let’s face it, sticking to one project can be a bit like putting all your eggs in one basket. Sure, it might work out, but what if it doesn’t? By spreading out my efforts across multiple ventures, I’ve managed to not only mitigate risks but also tap into a variety of markets and audiences. Slapform.com and StudyMonkey.ai are just the beginning—each new project brings its own set of challenges and rewards, keeping things fresh and exhilarating.

But wait, there’s more! Diversification isn’t just about having multiple projects; it’s about creating a synergy between them. Each venture feeds into the others, creating a robust ecosystem that supports and enhances every individual component. It’s like having a well-oiled machine where every part plays a crucial role in the overall performance.

Looking ahead, I see endless possibilities. The tech landscape is always evolving, and with it comes new opportunities for innovation and growth. I plan to continue exploring different niches, experimenting with new ideas, and pushing the boundaries of what’s possible. Whether it’s launching a new app, developing a cutting-edge tool, or entering an entirely new industry, the sky’s the limit.

And let’s not forget about the invaluable lessons learned along the way. Each project, successful or not, has provided insights and experiences that shape my approach to new ventures. It’s a continuous cycle of learning and adaptation, and it’s what keeps me on my toes.

As I write this, I’m already brainstorming the next big thing. Will it be a groundbreaking AI application? A revolutionary platform for solopreneurs? Only time will tell. But one thing’s for sure: the journey of diversification is far from over.

For those of you following along on my blog, thank you for your support and interest in my journey. If you’re a solopreneur or an aspiring entrepreneur, I hope my experiences inspire you to think outside the box and explore the power of diversification. It’s a wild ride, but trust me, it’s worth it.

Until next time, keep dreaming big and diversifying even bigger. Here’s to the future of diversified business ventures!

For more insights and stories, check out these articles on innovative strategies for solopreneurs and the evolution of my business.


Follow my journey as a solopreneur, and my evolution from launching Somiibo, a single project, to expanding my empire with multiple innovative projects like Slapform.com, StudyMonkey.ai, and more