10 Serial Entrepreneurs Share Tips on How to Manage Multiple Businesses

If you're ready to launch your second or third company, we've asked ten serial entrepreneurs to share their recommendations on how to balance it all.

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6. Keep it simple.

When running more than one business, it’s important to try to simplify the day to day administrative tasks of running multiple businesses.  The simple tasks from paying your monthly bills and managing numerous staff and products or services to conducting a weekly management meeting can quickly take over the bulk of one’s time versus the bigger picture needs of a company – to grow.  By creating systems and processes, as well as outsourcing as many tasks as possible, it  will  allow a business owner to focus more time on creating new products, services, customers and revenue for each business.

Dreama Lee, President at Efficient Enterprises, Inc. and Intern Profits: @DreamaLee

7. Just do it.

All too often I hear people talk about all the businesses they want to start but they can’t since they are already doing x, y and z. Starting and running multiple companies at once has given me the opportunity to learn twice as much in the same amount of time. Face the issues now and learn from your mistakes, the average entrepreneur starts 11 businesses. You’re going to make mistakes, it’s not a bad thing but the faster you can discover or overcome them the better off you’ll be.

Jake Brenner, Founder at House Biscuits  and JakeIs: @Jake_Brenner

8. Streamline.

Your original idea is was outside the box, innovative and groundbreaking. Fantastic.  Your next job is to figure out how to streamline your business process for that idea into a workable, easy to duplicate model so that the next big idea can be carried out with minimal added time and effort.

Consuelo Bova, President and Jeffrey Bova, CFO at For The Fit  and Smart Mouth Learning: @His_Style

9. Stay positive.

The best advice I can give to any serial entrepreneur is to always stay positive and keep your end goal in mind. Every single day will bring road blocks and challenges, but if you always maintain a positive mindset and remember the reasons you are involved and passionate about a project, those challenges will be only small stepping stones for you to learn from and use for your next ventures. Stay confident about accomplishing your dreams and keep a firm eye on the end result.

Alexa Rose Carlin, Founder at Hello Perfect and Designer at OmniPeace: @HelloPerfectt

10. Maintain your vision.

Juggling multiple companies involves having a clear vision of where all your companies are headed and how they will get there.  Empower your team to help you reach this vision, and hold others accountable to know their part and make it happen. Make sure you and your team are doing the right things at the right time.

Matt Shoup, President at M&E Painting and Shoup Consulting: @MattShoup

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