“Don’t put all your eggs in one basket.”
Owning multiple businesses can pose a challenge for entrepreneurs, but there are strategies you can employ to juggle various businesses and make them all successful. Owners of numerous startups must be incredibly organized and manage their time wisely so that all their businesses get the attention they need. Hiring the right people for all your different companies can help you manage the workload and leverage the expertise of others.
Entrepreneurs can run multiple businesses and turn a profit by giving each project the attention it needs and looking for ways to maximize resources between the different companies. Here are some helpful tips on how to manage more than one business:
1. Choose Projects Wisely
2. Share a Location
3. Schedule Your Days
4. Track Your Time
5. Leverage Your Assets
6. Create Reports Regularly
7. Hire the Right People
8. Learn from Past Mistakes
9. Prioritize Work-Life Balance
Elon Musk is one of the most famous entrepreneurs and a role model to many. He has founded and is still actively involved in over 5 different successful companies. But if you’re keen, you’ll realize Elon didn’t start all these businesses at once. He started one at a time, and then after a couple of years; he started another. There’s a reason for this. In this post, I will share with you reasons why it’s a dangerous move to create more than one business simultaneously.
Wiley Graydon is one such example that one can learn from how to find ease and balance in more than one business. Having spent 46 years in Music and 16 years in Transportation, Wiley has proved himself a successful multiple businesses owner. He is an entrepreneur, CEO, concert pianist, and educator.
He runs the most successful boutique Freight Agency in Central Florida with 146 agents and three (3) satellite offices. They broker freight via Full Truckload, Parcel, Intermodal, Cargo Ships, and Air Freight. They have just begun Medical Human Organ transport. And also he runs a Business Master Mentoring Program in which he guides young business owners and educates them on anything from business practices to business etiquette. Currently, 86 entrepreneurs are enrolled in the programs he offers.
Being an unconventional concert pianist/educator who started a Transportation company that Grossed over $50 million in 2021 motivates many people who get to know him and read about his work and successes. Very recently, his company was selected as one of the Top 10 Shipping Services Companies in 2022 by “Logistics and Transportation Review Magazine.”
Looking at his professional track of Wiley, one can tell that throughout his learning and enacting those learnings. He has been accomplishing the goals that most entrepreneurs only dream of and barely get to achieve even then.
There isn’t any fixed path to becoming a successful entrepreneur. That is why Wiley teaches everyone a lesson that stay connected to what you feel drawn towards, and that will eventually lead you to success as he did; choosing one career line first and then feeling the same motivation when choosing some completely different line is what needs to have the focus on because this is one thing that people fear doing.
Becoming fearless when you do this will lead you to the higher good of your growth, personally and professionally, which is essential.