Joint business or separate

Discussion in 'Growing and Managing a Business' started by inspire_08, May 12, 2009.

  1. inspire_08

    inspire_08
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    Hi

    I will be setting up in bookkeeping and later set up a Virtual Assistant Service. I am wondering whether its better to launch those businesses separately.

    I'm thinking cost wise it would be cheaper to launch a Virtial Assistant Service and provide bookkeeping services within. Another side is saying I should do them separate as I may loose potential bookkeeping clients who may be looking for a bookkeeper rather than a Virtual Assistant.

    What do you think?

    Thanks
     
  2. DEADMAN

    DEADMAN
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    I guess they're both separate business from business point of you.

    When you provide jointly, you may not get the profit you desire. So, launching them separately will help you alot.
     
  3. Fergal

    Fergal
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    You certainly seem to be busy. From advertising a spectacles website on TV to setting up a niche directory to selling software and ebooks online and now considering providing outsourced business services?

    Personally I'd suggest concentrating on one business until you have systems in place to manage it efficiently, it has achieved some level of success and is reaching your targets. Then you can use the skills and experience you have picked up to launch your next business.
     
  4. Moonpeach

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    I think that you should do them seperatly as they both have nothing to do with each other. If you do it together it could hurt your SEO and it would have nothing to do with what yoru site would be
     
  5. scifi

    scifi
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    HI! inspire_08

    Welcome to the BAF community..
    as you have mentioned that first you are interested in setting up a book keeping business & later a virtual assistant business, in this regards I would like to give you suggestion that first focus on your book keeping business for a certain period, also work out your break-even point. Then after that decide whether it is profitable to carry on the same business as such or it need change. If you decide that your book keeping business is going profitable then open the virtual assistant business jointly with it otherwise go for a seperate venture...!!!
     
  6. kingmurtaza196

    kingmurtaza196
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    I agree Fergel..

    Inspire_O8 u should first stream line ur 1 work/business then go for another. Conditions aren't favorable to start a new business.. If u still think u could manage it, u should keep both of the business separate as they both are totally different from each other..
     
  7. TimeRider

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    I think it's better to start Virtial Assistant Service if you think you will loose Book-Keeping Clients when you start Book-keeping service. Else, you will need a book-keeper to run the business efficiently because without a book-keeper, it will be little difficult.
     
  8. simplyjo

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    I totally agree with Fergal.
    I too started out with several niches when I first got into affiliate marketing- Slowly, I realised that focus is the key. So, stick to one business and see how it goes - If it works well, I'd say you can focus on that itself and triple your earrnings - Why bother going through the pain of setting up another ?
    Just my 2 cents.
     
  9. panaache

    panaache
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    Hi

    See in my opinion, if you have a good and in-depth knowledge about the business you are planning to get into , then you can set it seperately !
    But, even if you are a little doubtful about it, surely plan for a joint one !
    Hope this would help you in making a better decision !
     
  10. Mahlo

    Mahlo
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    Both have advantages and disadvantages so you should decide by yourself which one is better for you.
     
  11. Nazreen

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    I'm also in the opinion of keeping these two businesses separately. One business doesn't have anything to do with the other. But doing them separately doesn't mean that you cannot promote your other business from another though.
     
  12. jumeira123

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    Any business,if it has a proper business plan in place will be a success.Once a business is running smoothly,you can focus on the other one.
     
  13. nishant1500

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    I agree with almost everything said above. Both the businesses are separate. Even if you wish to launch them both - its better to them them a separate identity. The scope in bookkeeping services is pretty good - but its hard to find willing clients (I own one myself)
     

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