I think what the great industrialist meant was to focus. He focused on one thing at a time and made that enormously successful. Focus with laser beam intensity on one project at a time and complete that successfully. Then move on to other projects. You'll also do better on the subsequent projects as you gain from a better knowledge base, experience and confidence level from past successes.
Enormous opportunities exist now.
It is a time for rethinking the strategic role that technology will play in your business future. It is actually very good that the river of venture capital cash has slowed. I think that in the long run most of us will be better off if we have to figure out early on how to serve customers and not worry about having someone fund huge amounts of venture money. That builds lots of critical skills. It is too easy to get fat and happy when cash is sloshing around too easily.