Running More Than One Business?? of Course You Can!

For many men and women the notion of starting and operating multiple businesses effectively started out as just the kernel of an idea that slowly picked up steam: the logic being if it's possible to successfully run ONE business, then it's possible to effectively operate MORE than one business as well! But what are the principals involved in starting and operating multiple businesses effectively? Inspiration and perspiration can only get you so far. Much more important are ORGANIZATION, SYSTEMS and COMMUNICATION. Let's take a look at each:

I. Organization

The term "organization" as used here actually has two meanings: (a) staying organized in terms of how you manage several businesses and (b) the organization or team of individuals you have under you that runs your multiple businesses. You'll notice that both facets of organization depend on one thing: PEOPLE, because if you think you can starting and operating multiple businesses effectively is something you can do alone, than you are sadly mistaken and most likely doomed to failure.

The only way starting and operating multiple businesses effectively is to put other people in charge and have them follow your game plan while at the same time empower them with the trust to make decisions.

This simple idea as stated above - commonly referred to as "strategic management" -- often gets dressed up with even fancier names. But at the end of the day it's YOU the manager creating a game plan and gathering a team of think-outside-of-the-box individuals who can carry that game plan out. You can change the product - in fact most entrepreneurs rarely operate multiple businesses that revolve around the same service - but the strategy of moving forward remains more or less the same.

Now whether you're talking about 1 employee or dozens, it's up to you to get them fired up about what they are doing. And guess what -- people (like car parts) can be replaced if needed. If your employees (I like to call them "team-members) are living and breathing your agenda then it's time to find someone else.

In short, it's up to you to convert your team's "talent" into "performance!"

II. Systems

So now we'll assume that you have your team in place, they are fired up, they are willing to do what is necessary to share in the success of this business. Now is the time to mak the transition from baby steps to normal strides. With a rough idea of what your game plan is, you should block out some time each week to review said plan and re-focus on what your specific goals and objectives/deadlines are as well.

You might even want to consider this "pre-planning" because as you si down you're your team you will look for inputs from everyone with their respect to their special sphere of influence: one person is in charge of finances, another is in charge of legal matters. It's kind of like one big brain-storming session where you look to get as many ideas on paper as possible. Over time these ideas will translate into who your client base is, what your price-line is, what markets and media to hit, etc.

Here's a little secret: the best business strategies continually evolve. They are constantly massaged, enhanced, revised, and reworked. The Donald Trumps and Richard Branson's of the world would never rely on the same business strategy each time they come out of the gates and neither should you. When you come up with what looks like a solid business plan, give it a break for a week or so and then get with your team to review it.

II. Technology

You may wonder what technology you need if you're opening up a hair salon, but at a minimum all businesses can benefit from a few basics:

A). Computers: Basically it's a matter of what will serve you best -- does your business rely on spreadsheets and databases? Do you produce a lot of graphics? Are you - as the manager always on the go as you jump from one business to another? Common sense can answer a lot of your questions and believe or not the sales representative can probably answer the rest. Is it a Laptop or Desktop you need? The answers will become apparent when you brainstorm with yor team.

B) Phones: Again - what are the needs of your business? Does everyone need a cell-phone? Will Voip-service be more economical? Does your projected workload demand multiple phone-lines or just one. How about call-forwarding. Keep in mind that many times the business owner/manager will get too much -- more phone "bells and whistles" than is actually needed. Having said that, a high-speed internet hookup can save you big bucks in the long run.

C) Printers: Establish what your printing and copying needs are and then be realistic about what you need. A multi-task printer/fax machine may be all you really need.

When it comes to technology, you'll notice that the common thread here is "be realistic." Although your need for technology will almost certainly be a reflection of the type of business you run. And at the same time, you may well ask yourself just how much technology you actually need to accomplish the goals you've set for yourself.

III. And finally, a few words about YOU

YOU - the brainchild of this whole notion of starting and operating multiple businesses effectively. You may have come up with the idea and your commitment no doubt outweighs everyone else on your team, but you simply can't run the ship alone. As we pointed out earlier, the success of starting and operating multiple businesses effectively demands trust on the part of the manager. To that end:

- Delegate.

- Don't micro manage.

- Always ask for input from your team.

Starting and operating multiple businesses effectively CAN be done. It's not rocket science, but conversely you need to recognize your own strengths and weaknesses and surround yourself with an imaginative and dedicated team that will see your ideas reach fruition!