I run several online businesses and have an office based team of staff that work across them all. My problem is that I feel I have a lack of focus and direction (due to having multiple businesses) and I'm sure the staff feel confused at times too. All businesses produce an income, but none are doing anything "amazing" or as good as they could. I'm torn; I like having multiple income streams (not reliant on one thing) but at the same time I'm frustrated with lack of progress across them all. What should I do? Get rid of some businesses to clear my head, delegate/structure it better or something else?
Running multiple business at one can dilute your focus and creates blind spots for issues to creep in. The companies I have coached over the past 6 years all find that a focussed offering and singular model is a better option for scalability.
That said, it is not entirely impossible to have multiple businesses. You will need to employ outstanding management/leadership teams that share your vision to hold the space for you. In doing so, you can protect what you have built and structure each company strategy in line with your overall strategy.
I work with companies and entrepreneurs to help design and implement strategies and work to transform leaders and leadership. If you would like to speak more about this, feel free to set up a call.
Answered 5 years ago
Access 20,000+ Startup Experts, 650+ masterclass videos, 1,000+ in-depth guides, and all the software tools you need to launch and grow quickly.
Already a member? Sign in