How Long Should You Work In A Business, Before You Start An Additional One?

Discussion in 'Growing and Managing a Business' started by amwarner, Nov 6, 2013.

  1. amwarner

    amwarner
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    What I mean by my question is, say you have a website that you've been working in for about a year or two and it's starting to take off. And then you have another idea based on research and asking questions that you really think could be something and could be profitable.

    How long should you work on that first business before starting up something else? Because you'll need to divide your time accordingly to make sure both websites are running properly and getting your attention.

    I'm asking this because I have an article on my website that's generating alot of page views ... more than I imagined and I recently, I had an idea for a website that would be perfect for that specific topic. Plus it's related to my original topic that my main site is about. But I don't want to have too much on my plate just yet.

    Any ideas?
     
    #1 amwarner, Nov 6, 2013
    Last edited: Nov 6, 2013
  2. Markmm

    Markmm
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    Hello,

    I think you should start to do it while you can because now days opportunities are not always here. You have an idea and you think it could be profitable ?? go for it.
    After, there is of course a lot of things to consider (family time, work, etc..).
     
  3. amwarner

    amwarner
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    I understand what you're saying, thanks for the reply. I don't want to burn myself out ... plus there is family time to spend as well. But like you said, opportunities are not ALWAYS there.
     
  4. medicalbillingso

    medicalbillingso
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    There is no matter about how many business you are running? But real thing is how many business you are running successfully. So when you know your business is going well, thereafter you start another business.

    Thanks
    Medicalbillingsoln
     
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  5. alicemenezes

    alicemenezes
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    Hi amwarner! nice to know that your first website is now doing well. I think you can start a new one now. When you have existing business, I will suggest to start new with small. I mean you can start your another business with small and slowly you can take up to a good high.But at the same time you need to give equal importance to your earlier existing website.
     
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  6. kabirsingh157

    kabirsingh157
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    I do not believe you need to work in a business before you start one. I am a live example of this philosophy. All I had was an idea that I wished to look a parallel business related to website development on a b2b marketplace like this. I found one which dealt in content writing and I pitched to them if they would like to work with me. Just a simple registration on the mentioned site and I had for myself a business to earn from. And yeah, I am doing pretty well. ;)
     
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  7. gregcooper410

    gregcooper410
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    I believe once you finish the start-up phase of your business and understand the operation of your current business, you can move on to your next business. Just make sure that your current business will be running regularly and you will not burn your self out. The only drawback is that you may not have brought your current business to it's full potential once you move on to the next so soon.
     
  8. amwarner

    amwarner
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    This makes sense, however the second website would be complimentary to the first website. But you're correct, burning myself out is a worry. I guess it's really all about organization.

    - - - - Posts Merged - - - -

    I agree, it's all about balancing both and making sure they both get needed attention.

    Thanks for the input.
     
  9. Henry Calvin

    Henry Calvin
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    Don't think too much. If you have a genuine idea, implement it. If it doesn't work, learn from your failure and do it again.
    Never be afraid to take a big step. Big steps always make you a bigger person and more successful. And failure always helps you succeed!!
     
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  10. RoseAb

    RoseAb
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    Is it a possibility that you could add your new idea to your current site? Probably you have thought of that already and there is a good reason you don't want to do it that way.
    But if you could, then it would be less work, especially in the maintenance.
     
  11. isisplinfo

    isisplinfo
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    Any new business requires atleast 365 days! Then one should decide to move ahead with that or to leave it. However this is not thesame with online business. People run 10-20 websites together successfully.

    I am not an expert but in your case, if your first project started giving you some results and if you are feeling that this one is in stable stage now, You can outsource regular activities for that project and start a new project.
     
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  12. bizwizgenie12

    bizwizgenie12
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    Hi,

    Presuming that this question is still relevant to you after first posting it about two months ago, my take is that you may juggle as many balls in the air as you are comfortable with, without dropping any ball _and_ without feeling over-stretched. The advantage in the business of website development and maintenance is that their entry and exit is relatively inexpensive - if you realize that something is not working as well as you had envisaged, you can exit with minimal damage. My advice is to give the idea of a second site a try. Who knows, along the way you might feel motivated to launch a third a third or even a fourth site?

    Hope that helps.

    Sanjay ~ corporate Guru
     
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  13. amwarner

    amwarner
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    Yea, I understand where you're coming from but at the present moment, it wouldn't make sense to merge the two. Actually, how I've gone along to build that second site, it's pretty much a stand-alone site. My big problem right now is organizing my time accordingly to give each of them the attention needed.

    - - - - Posts Merged - - - -

    Yea, I have thought about outsourcing alot of stuff with my main site, and I've started to do that actually. However, there are still alot of stuff that I'm very hesitant to outsource at the moment. Maybe overtime, I'll realize that to free up more time to make them both successful, I have to outsource more things.
     
  14. amwarner

    amwarner
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    Thanks for the advice, it is a juggling act right now but both sites are something that I truly enjoy. I'm not sure how alot of people are able to manage 20 sites ... I guess they're just very good at managing their time ... which is something I need to work on to make both of these projects of mine successful.
     
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  15. NodePacket

    NodePacket
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    Just make sure that your current business will be running regularly and you will not burn your self out. The only drawback is that you may not have brought your current business to it's full potential once you move on to the next so soon.
     
  16. aspecialist

    aspecialist
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    There is no specific time, day or year of having another business. If you think you are now capable of having a new one, then go on. Nowadays, online business is very popular that everyone jump into it. They got various ideas on how to sell online and probably got a good income out of it. If you need some business advise just don't hesitate to get a help from business expert or you may also consider attending seminars and training to learn new ideas and techniques on handling a business.
     
  17. PrashantBhurke

    PrashantBhurke
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    If you are planning to start your business, then it is good. But starting a new business without good experience and knowledge can be a risk. I would like to suggest you to first decide which business you will be going to start. Make a good plan for all your business operations like office location, employee recruitment, finance, investment, future growth, etc.
     
  18. jeff hardy

    jeff hardy
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    • Promotional Links are not allowed in normal forum posts. This post has been edited to remove a promotional link.
    I do not believe you need to work in a business before you start one. I am a live example of this philosophy. All I had was an idea that I wished to look a parallel business related to website development on a b2b marketplace like this. I found one which dealt in content writing and I pitched to them if they would like to work with me.
     
  19. Kimmymarkks

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    I think it's only safe to more on to a new company when the first one is running smoothly. That means the staff is well equipped and can handle the company without your presence. Also, there is a strong customer base and positive profits. If the first company is still up and running when you decide to take on another company there is a higher chance it will fail since it will not have your full attention anymore.
     
  20. Gerry Speck

    Gerry Speck
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    Well, I would like to share my friend's experience. He worked as a business analyst for 6 Years, then business consultant for 8 years and now after a lot experience in this field he is planning to start a new business. The time doesn't matter here. Because this experience will help him a lot in his business growth.
     
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