When you grow across multiple platforms, you have to change how you operate as an owner. If you are a small company, you can micromanage, be unorganized and lack focus and still survive, maybe even thrive to a degree. However, the larger your business grows, the more these flaws will be seen.
These tips will help you run multiple businesses.
There are cool apps like Evernote that help in writing lists, but, nothing replaces pen and paper. Notes are necessary for multiple reasons, the king of which is focus. When working on one business, have a notepad always by you.
When other projects or businesses pop into your mind, write it down and refocus on your current plan to be effective. Focus and intensity are required to have momentum. With more than one business, you can lose momentum, which is the lifeblood of business. When your mind wants to go elsewhere, write it down and refocus on what your working on now. Notepads will help you to stay organized and focused.
2. Physical locations
We remember by location much better due to micro-evolution. Get in the habit of working on businesses in different places even if it’s on the computer at various parts of your house. Locations defined for business will help you to maintain boundaries mentally and recall when you need to.
The larger you get, the more you need to spend most of your time managing and developing a team. The only way to run multiple things is to have a solid team. Your team will be the frontline of your business. Treat your team with the passion, energy and focus like your business depends on it, because it does. Work with a team to build and multiply your time and energy.
Know what numbers matter to your business and have reports done at the minimum weekly. Measurement improves performance and reports are your measurement showing improvement or drop-off within the business. Get reports on the numbers that matter to your businesses to maintain control.
Extreme focus is required to build multiple companies that are thriving. Build one business at a time until you get a solid team in place, then you will have the bandwidth to work on your next business. With focus and energy, you can build an entrepreneurial empire. Focus on one business at a time, form a team and know your numbers.
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