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And here is the prime condition of success, the great secret: concentrate your energy, thought, and capital exclusively upon the business in which you are engaged. Having begun in one line, resolve to fight it out on that line, to lead in it, adopt every improvement, have the best machinery, and know the most about it.
The concerns which fail are those which have scattered their capital, which means that they have scattered their brains also. They have investments in this, or that, or the other, here there, and everywher. “Don’t put all your eggs in one basket.” is all wrong. I tell you to “put all your eggs in one basket, and then watch that basket.” Look round you and take notice, men who do that not often fail. It is easy to watch and carry the one basket. It is trying to carry too many baskets that breaks most eggs in this country. He who carries three baskets must put one on his head, which is apt to tumble and trip him up. One fault of the American businessman is lack of concentration.

To summarize what I have said: aim for the highest; never enter a bar room; do not touch