Balancing Multiple Businesses and Ventures is Tough, but Not Impossible
It’s possible that you have yourself involved in more than one small business or venture. That’s not a bad thing; having your hands on a few different projects keeps you busy, creative, and always thinking forward. That being said, keeping different projects in order, especially when they’re in different fields or realms of business, there are a few tips to balancing everything in your professional life.
Truly love the projects you are involved with One thing really stands out with small business professional is an emphasis on truly loving what you do. Now, entrepreneurs hear this a lot, but it has merit. When you are juggling several different ventures, you need to have a genuine love for each, or you will neglect the ones that aren’t true passion projects. It’s almost like a relationship -- without love, it begins to crumble and becomes a complete waste of time.
Make productivity a top priority as you have limited time daily for each venture
Managing multiple business ventures is a lot like juggling balls -- if you slow down and lose momentum, you eventually drop the ball. One thing that seasoned small business owners stress is the true value of the time we have each day. It doesn’t matter if you are a new entrepreneur attempting to bootstrap your first company or a seasoned pro with multiple seven-figures businesses in your portfolio. We all get 24-hours in each day and not a second more. One of your biggest concerns going into a situation with multiple business outlets is how you are going to effectively oversee the development, manufacturing, marketing and fulfillment of multiple consumer brands. Being as productive as possible and optimizing my workday will give you the most quality time to devote to each brand.
Evaluate the time and energy commitment before adding a new business venture
Entrepreneurs are a very confident bunch, and often think they can bite off more than they can chew. Many are guilty of this in the beginning, and they wasn’t successful because they was trying to do too much. Now, those still doing well have a good understanding of what they can and cannot realistically take on, and you really need to evaluate every opportunity on a case-by-case basis, as they all have varying levels of commitment requirements in terms of energy and time. Experiences where you run yourself thin show you that you need to slow down in order to get to my end goal faster. You may have more than a dozen consumer brands past the early development stage, but if you went 100 percent forward with each one at the same time, it would be a complete disaster. There's just no way you could effectively distribute your time between them all. Keep that in mind in any professional venture, let alone an attempt to balance multiple projects.
SA Capital Partners is here to help you when you start to acquire other businesses or begin to grow your own. With merger and acquisition expertise, as well as years of experience in corporate advisory, we’re here to make sure that these tips, as well as our financial services, keep you in control of all of your small businesses and ventures.
About SA Capital Partners:
SA Capital Partners is an innovative financial services firm that specializes in mergers & acquisitions advisory and capital raising for lower middle market businesses. We aspire to give all the tools necessary to complete any transaction. SA Capital Partner’s financial services industry specialists provide comprehensive, integrated solutions to banking transactions. Our breadth of services and industry knowledge allow us to understand each client’s unique business needs. Our goal is to make all financial services available to every small business.