owning more than one business

Discussion in 'Growing and Managing a Business' started by elids1979, Apr 20, 2010.

  1. elids1979

    elids1979
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    hi,
    I have a few ideas that i want to realize soon , eg. selling branded clothes throught the internet, establishing a language school, and also selling fast food in special occasions etc.
    my question is, can someone have , lets say 3 businesses running at the same time, every business, with a diffrent partner, if none of those requires 100% of my time so i can divide it. your input would be appretiated.
    does anyone here runs more than one business?
     
  2. Alexishost

    Alexishost
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    You can!

    firstly , You must take time to write down business plan, or simple plan on how you operate your business- Funding- marketing-adminitration.

    How much time commitment are you willing to give for your business.

    another solution :
    You may start one,make it profitable, and move to another business

     
  3. jycegrcia

    jycegrcia
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    I thing running 3 business at a time is really hard to manage, even though if you are having different partners you have to pay attention on what is going on everywhere. I don't think that without sparing any time you can successfully run all the three business.Before going through this I think you should do proper planning.
     
  4. ShawnLim

    ShawnLim
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    yea, running a few business in the same time can be disastrous if you dunno how to manage it.
    especially at the beginning where everything may be new to you.

    there are a lot of successful marketers running many businesses in the same time, across different niches as well. however, they did it after they know the rule of the game and after they have succeed in a small niche or industry.

    if i'm you, i will choose to stay focus and pour in all my energy into just one business until it succeeds only then i will decide whether to go on or start another business.
     
  5. Fergal

    Fergal
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    I'd agree with Shawn. The best approach would probably be to focus all your time, energy and resources into a single business, until you get it up and running successfully or alternatively have made a decision to try something else. This will give your first business a greater chance of success.

    Once you have a successful business up and running you will have a much better understanding of what works and what doesn't work and you will have learned a lot about business on the way.

    In summary, take one business, give it your absolute best for six months and then re-evaluate your position.
     

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