Being a business owner can be exciting. And once you have one successful business, and have mastered your processes, it becomes easier to start several ventures and run them succinctly. So how do you run several businesses at once and stay sane? Sapphire Gray explains.
Have Robust Systems
Your systems are your business. Systematising your business is key to success, not just in running one business, but running several businesses. Your business should run like a well oiled machine. You should know when payments are coming in, and you should be able to predict certain things. Not being able to predict will drive you insane, and it will mean that you will be working around the clock. Having effective systems will enable your businesses to run smoothly.
Have an Awesome Team
Don’t’ try and do everything yourself. You will get burnt out very quickly. Hire people that are smarter than you to get the job done, and focus on the management of the business. Too many people start businesses, and end up doing everything, from client work to sales and marketing. You can only get away with doing this for so long, before you start to feel drained. Hire passionate, able people that are sold on you and your enterprise and that have some kind of skill. The rest will fall into place. Oh, and don’t micro-manage people. It’s good to monitor, but micro-managing people will make them feel incompetent. A good accountant and lawyer is an essential part of your team, so hire well in these areas.
Have Regular Meetings
It’s your job to run your businesses, not work in them at all times. Have regular team meetings to see what is happening, and to identify any potential issues that might arise so that you can deal with them. Also, think about using project management software so that you can keep up to date with things in between meetings. This will ensure that all of your businesses are running smoothly.
Learn to Say No
Being an entrepreneur can be time consuming, so it is important to learn to say no and to switch off. Set personal boundaries so that you do stay sane. Don’t work all hours of the day. Take time out for yourself, and look after you, mentally, physically and spiritually. That might be ensuring that you have a lunch break everyday, or that you finish work at a certain time. The key to running several successful businesses and staying sane is having structure, systems, a good team and not working yourself to the ground. If you can achieve this, you will have the best of both worlds.