Starting a business can be fun. Starting to get organized, get ready, get promoting, it all can be exciting. The prospect of beginning something new and building toward success may be long and exhausting but there is something thrilling about it. I have started more businesses then I have successfully run. You never know until you try, right? However, you can get to a point where you have too much to keep up with.
When I first got the thought in my head to start a business, I decided to try many things. I tried Avon. I realized I was not someone for outside sales. I tried child day care. That worked for about 9 years. I then tried Mary Kay and remembered how much I was not suited for outside sales. Of course, that was not before signing up for Barefoot Books since it was free. Did I forget to mention American Bear or something along those lines? Then I began to blog, freelance write and begin another business with a friend. Since then, I have started a facet of my active business, started another one and in the stages of beginning yet another business. Will I ever just settle down on one or two?
One advantage of having multiple businesses is having multiple streams of income. You can use one business to fund another until you finally settle one the main business you will conduct. It is nice to have a business support another one as it eases the burden on your personal finances.
One disadvantage of having multiple businesses is lack of time. You will have a hard time focusing on the success of one business if you continually start new ones. Each business needs to be tended to in order to grow. You may become distracted, frustrated and exhausted with all the work involved. Instead of earning more money you will be the head of several failing businesses.
Take my advice, it is okay to have multiple business but you need to grow one at a time. That does mean you need to wait to make your first million off of one before starting another. Just get a handle on it before branching out. Try businesses that complement each other for the best success.