How To Manage More Than One Businesses At One Time?

[Good-Guy]

The management of a single business is a really big issue. There are many issues and challenges that are linked with managing business. I believe that managing a business in a successful manner not only depends on the skills and talents of a person, in fact, I think that management of the business also depends on the kind and nature of the business itself! For example, if you are running a business that requires a lot of attention from you and a lot of determination from you, the more difficulty you will face in order to manage it.

If you run a really big business, but if that business is pretty straightforward and simple, then I do not think that you will face much issue while managing that particular business. The real problems comes when you try to handle more than one business at a one time. I have been reading many articles about how you could actually manage more than one businesses, but I believe that the only way to manage multiple businesses is by creating an effective strategy and hiring the right kind of staff for your business in case you are not able to handle the businesses alone. So, how do you manage more than one businesses?

 

[Alexandoy]

I have seen a movie about business where the owner was managing several companies. As chairman of the 3 companies he spends at least 1 day a week in each company to check on the executives and the operations. That movie was very similar to a real life chairman that I know who checks on her company every week. She would spend time to inspect the table of organizations regarding the promotions and the resignations. Any such movement in the executive level needs the approval of the chairman which means she is really working. Maybe her idea of a business is that it cannot be entrusted fully to the staff. Now that she is more than 70 years old that got me thinking when she would stop working. What would she get from working that way except money? You may think that I am a lazy person but I would rather enjoy my life with my riches than to work my butt until I become the richest in the world. That is crazy.

 

[Heartstrings]

In terms of managing more than one business, It's a bit challenging, especially those that don't really know how to handle it but are interested in having more than one,why because the money is there. I have seen where such persons have someone else who would help them run it and pay the person at the end of every month,it really makes sense though but such person has to be careful too, because you can never trust anyone,make sure you know every thing on the financial aspect of your business,make time to inspect.

It also depends on the type of business thou, Because there are some business that doesn't really need more of your time in physical. Who you employ also plays a big role here because you can't employ an incompetent person and expect your business to go well,in all know what you want and good for you,if you think you are capable of managing more than one business,it's a plus for you with more income.

 

[Shaf]

I have not had more than one business at a time, and even then it is tough to be efficient all the time.



Some things that work well when managing just one business can help you to navigate two or more businesses also well. One of them is having an effective plan which is followed as much as possible. Without this, you can run from one business to another without accomplishing anything at both especially if there's an emergency concerning one or a deadline for you to meet.

Another thing that people who run more than one business do is that they get a manager or supervisor for the one that requires less attention from them. If someone can do it, you will save time and money outsourcing it.

One mistake people make is trying to start more than one business at a time. It results in failure all the time, except if you get really skilled staff who do the work if establishing the business for you.