HOW TO MANAGE MORE THAN ONE BUSINESS AND ATTAIN SUCCESS
Entrepreneurs need to possess discipline and good management to successfully run more than one business. An average man thinking to the direction of business sees himself growing and not being stagnant for months. Often times, entrepreneurs decide not to have more than one business because they do not know how to successfully run more than one. In this post, we will highlight a few steps that will help entrepreneurs learn how to manage more than one business and attain success.
In an economy like Nigeria, we put hands into different sources of income to meet up with the desired life we want. Now, it is one thing to startup and it is another to keep it going while gaining profit and achieving success.
Few steps to manage more than one business and attain Success
1. Have a Plan That You Follow Religiously
This sounds archaic but very important, in the times of our ancestors this was mostly done, they usually arrange the activities of the day and follow them till it becomes a part of them that they do not have to think so hard before knowing the next step of the day or even the activities of the months.
A very popular saying goes ‘You do not plan to fail but you fail to plan’, whatever is been planned is well executed with consistency and diligence. Plan a list of things you should do and goals you should be able to meet at the end of each day, this list should be written according to the level of importance E.g Meeting a particular customer target shouldn’t drag importance with getting a new frame for your office space.
2. Using One Space for Both Businesses
At the start of a new business managing one space for both businesses reduces cost and helps you have eyes on both businesses at every given time. Now if you do not have enough space to accommodate your employees you can simply get them to work from home (online) and hire a Virtual Assistant to follow them up with work. The pandemic hasn’t been the best thing this year but has definitely taught us a lot of things we wouldn’t have known if we didn’t experience it.
3. Bring the Two Businesses Together
Two businesses can not be handled the same way following the same process because they have obvious separate ideas and might not even be in the same niche. Creating a business plan including marketing, recruiting team members, and determining online tools can all be done together thus bringing the two businesses together managing time and resources.
4. Employ Experts on Each Area of the Business
When you have experts running these businesses with you it relieves you of too much work, rather than multitasking and handling different aspect where you aren’t an expert in e.g digital designs, you have experts taking control of that and this gives you a lot of time to focus on the core issues of each business that is the foundation of the business that cannot work without you.
5. Set Goals That Pushes You to Do More
Running more than one business at the same time is not something easy to do. The dedication needed triples and that is why you should be sure to set goals that motivate you to do more having at the back of your mind that you have to report to yourself. As much as you set goals that push you to work better and smarter also do not set unrealistic goals within the shortest time span.
“It must be borne in mind that the tragedy of life doesn’t lie in not reaching your goal. The tragedy lies in having no goals to reach.” —Benjamin E. Mays
These few steps mentioned in this post will help entrepreneurs learn how to manage more than one business and attain success.
As a business owner, if your struggling with getting the right strategies to run your business, feel free to contact us here to find out how we can help you put an end to that challenge.
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