Saturday November 21, 2009

smSmallBiz.com - SmartMoney's Small Business Site

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Work & Life: Running Multiple Businesses
For some entrepreneurs, running just one business isn't enough. Here's how they do it.
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ConnectGO Posted: 1:07 AM On August 7, 2009
I came across this article looking for solutions to help manage multiple businesses, and it made me feel good about what I am doing. I am running, and developing currently 5 businesses, and I have put at least 3 businesses on the backburner, which I also cannot wait to get started with but they are more long term businesses, they will take longer to generate revenue. Just in the past year I have gotten a lot better at delegating tasks, but I still have a long way to go. My next step is hiring someone to do many $10 / Hour tasks, and also another person to do many $15 / hour tasks. Right now it is a catch 22, because my financial obligations are high, but I am on the path to be able to do this soon and I can't wait, right now I have decided, I am just going to work 100 hours a week to correct my former financial decisions responsibly, and make the sacrifices now for future reward.
SARAH Posted: 12:16 PM On May 6, 2009
This is quite encouraging. I run a successful fashion business and now i want to start a food delivery business,they are both unrelated but i have learnt so much dos and donts from my first business that i think i might do this even better...i am still kinda scared though but more excited.
Social Entrepreneur Posted: 12:38 AM On October 6, 2008
I have to agree wholeheartedly with the final comment.
I now own 6 seperate businesses, with every business that I start I get better at understanding customer needs and bringing in the right staff from day one. Additionally, each business invariably teaches me something new that I can apply to make one of my previous businesses better.
Finally I would say the most valuable experience any entrepreneur can go through is that of buying another business. Only when you go through that process do you start to understand your own business in the context of total business value as opposed to customer value which is where most of us tend to get stuck (and hence have a hard problem selling the business later).
Go on, start another one, it will force you to become a better entrepreneur!
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