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James Williams posted a new Starting A Business thread on 3/17/2008

Starting Multiple Businesses

I have created a couple of business plans for ideas I have had for a while. I am thinking about launching multiple companies at the same time instead of just picking one to start and focusing solely on it. Has anyone used this approach in the past? Was the multiple launch approach successful? What sort of issues do I need to watch out for? I appreciate any and all feedback.

Regards,
Bizdevguy
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Dominic Rossi Responded on 3/26/2008


Have you every operated a business before? Starting just one is going to require just about every resource you possess: physically, mentally, emotionally and financially. Pick just one plan that you would really enjoy doing and concentrate on that one. If successful, you can always look at other ventures down the road. IMHO.
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Demetrius Kilgore Responded on 3/31/2008


Thats a valid point, but it solely depends on the type of businesses you are starting. Are they brick and motor businesses that require you to be there, or are there businesses that practically run themselves. I have multiple businesses and I can get a everything done from the touch of a button my laptop or the dial of a button on my phone. this weighs heavily on what u are doing, example: if one of the businesses is a restaurant theres no way u would want to start two because that restaurant alone will require all of your time mentally, physically,and emotionally.
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Reid Robbins Responded on 4/9/2008


i have multiple businesses. In the past, I operated multiple businesses under one company and found that I could add in related businesses as I went, having my staff functioning in all businesses at the same time. I brought in specialists to operate areas of the business that I was unable to handle myself as well as outside contrators. just don't try to do it all yourself.
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Bill Seneff Responded on 4/13/2008


Obviously , not enough info yet as to how or if they are related or the degree in which your time is required to start them. If related and can be paralleled, absolutely. If not, then how much time is required and do you have help starting them? You become the over-seeing party.
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Glenn Wang Responded on 5/1/2008


I think its a whack idea,doesnot make sense,spreading yourself too thin
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James Williams Responded on 5/2/2008


Excellent point Glenn. The more people I speak to are all telling me to focus my efforts on one idea. I appreciate the constructive feedback.
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Jerry Lisman Responded on 5/11/2008


Many good points!! I agree with the statement of how intense it is starting one, let alone multiple businesses at one time. I believe the only way this can successfully be accomplished is through the development of partnerships with people you know and trust and will work as hard as your would. Unless you have a large warchest to fund the hiring of qualified managers, I think a multi-business startup is probably headed to disaster.
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Demetrius Kilgore Responded on 6/5/2008


Yes you can say that again. Time consuming, and not to mention stressful.

-Demetrius
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Bill Seneff Responded on 6/6/2008


I vote for the development of a large warchest if they can run together.
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Wendy Bates Responded on 7/1/2012


If you have had previous business experience, then you should be ok with opening several at once. However, if you are new to doing a business, then I would suggest opening one to make sure you know all the ins and outs of basic business. Then I would venture to open more, but that is just my opinion. Best wishes in your decision.
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David Nikolic Responded on 9/12/2012


Hi,
My advice to you would be to just start with one business.Handling one business is itself a great task. Starting a business not only requires money, but along with that there are many other things which one needs to keep in mind. Before starting many business at one go, first start off with one and than think of expanding your business.
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Sanjeev Chainani Responded on 12/4/2012


Hii All,

Investment Banker provides the right contacts, to real wholesalers, and helpful advice


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Ivan Carrey Responded on 1/16/2013


I would go for multiple businesses but giving more focus on the main cash cow. And improving other businesses slowly along the way. In that way, you are protecting your main cash cow and building other possible cash cows as well.
Best Regards - Ivan
- Holytraffic


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Mr. Kelly Johnson Responded on 2/12/2013


I say one at a time. Pick the one you think will be the easiest to start and turn a profit with in the shortest amount of time. I worked on an invention for many years. It was a quite substantial invention that wasn't going to be easy to market and sell. And really, I only thought I knew how to market it and make a profit. Then I decided to stop working on it so I could focus on one of my other inventions that was very simple and inexpensive. I did this so that I could learn how to take a product to market and turn it into a profitable business.
Now that I have succeeded, and learned how to do it. I am now picking back up where I left off with the larger invention. Only this time I am armed with experience and a little extra revenue to invest. Focusing on just one business instead of both, or jumping right into the bigger business was the smartest thing I ever did.
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Albert Disuza Responded on 2/13/2013


If you are competent, have resources and manpower, you can think of multiple businesses. Otherwise, focusing in one business will definitely give you better result that many.
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Casper Joe Responded on 2/21/2013


Multiple Business is good plan of a business. To plan any business we need a market research, through this research reports we get know about current status of the market, industry requirement.
http://www.aarkstore.com/
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Leading distributor of Market Research Resource. Across 250000 business market reports available, covering market research reports,company profiles, swot analysis and industry analysis.

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