Welcome to my How to Manage Multiple Businesses at One Time blog post. I have a question, How do you manage multiple businesses simultaneously? – My sincere recommendation is, don’t. Don’t try to manage multiple businesses simultaneously. I think for most entrepreneurs, most entrepreneurs that I advise and consult with, I almost always recommend them, to just focus on one thing and do that very, very well. I don’t think for most business owners, they should be involved with so many businesses. Because it takes so much effort, and so much time and energy, just to make one business work, I mean, business is tough enough. And when you are trying to make two things work.
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Now I’m not talking about you being an investor, that you have someone else running it, right. If you invest in a business, you got someone else running that business. A CEO, a General Manager, that’s great. But if you’re actually managing multiple businesses, it’s very, very challenging. So, depends on your business model.
Now, however, if you are one of those serial entrepreneurs, meaning that you get bored, like me, easily. That you want to be involved with different things, and you don’t mind being involved in different industries, because, you kind of enjoy the process, you like learning new things. And you do want to manage those. Now, this is what I do, I’m not saying that this is what you should do. You want to build a core team, this is your Navy Seal, this core team, helps to run, it helps to manage, it helps to advise all your other companies.
So imagine if you have a core team like that. And then whatever you want to add to your portfolio, really, this is the core team. But you could have a leader, a COO, a CEO, a General Manager for that particular business. And they are the one’s that’s driving the day-today, right. So you can add to that. But really, it goes back to this core team. Until that business, it’s big enough. Meaning, generating enough revenue, then that business probably in the eight-figure range, then this business could have its own kind of management team, right.
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They are running the day-to-day, and they’re reporting back to the core, this executive team, but, this is the team that actually makes it work. Think of this, in the beginning, they’re borrowing a lot of resources from the mother ship, right. Until they get big enough, they become their own mother ship, and they kind of operate on its own, but, you still have a lot of synergy communication between all these entities. And that’s how you manage it.
So, in short, the way you manage it, is actually, you don’t manage it, you have other people managing it, but you have very good systems, and reporting system and you’re measuring the metrics and having the right person, the right seat, managing those things, and then you’re fine. Each business is its own entity. But then this core, this is how you help all these other businesses become smarter.
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Great example. Let’s say you’re running Facebook ads. You already know the best practices. You know what works. Then you know how to drive cold traffic to offers. Here’s a business that you start, or you invest, well, these guys, the new people, they don’t have to start from scratch. They don’t have to go through the school of hard knocks, they can plug into the mother ship and say, hey, already here are the best practices. Do it this way. Oh great, now you just reduce the risk, and eliminate a lot of learning curve, right.
You already know, how to build a team. You already know, how to drive traffic. Then You already know, how to do all these things. So they are tapping into what works. Not trying to figure what works. The products and services industries might be different. But really, the intelligence, this is what is valuable. So, that’s what I do. How do you manage multiple businesses simultaneously. It’s having the right system, the mother ship, plug that into that, plus, then have the right leader, leading each of those businesses.
Final Opinion:
So I hope this blog post was helpful and kind of explanation How to Manage Multiple Businesses at One Time. I’m an internet marketer. I’ve been running an internet business since 2012. I’ve been making thousands of dollars. And I’ve worked in a number of different fields but place, where I’ve made most of my money, is affiliate marketing. If you do want to learn more about making money online and even starting an affiliate marketing-based business, which any products it doesn’t require any customer support or fulfillment or any of that jazz. Then check my No #1 Recommendation.
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