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?
I launched my first two companies concurrently at age 19. I was successful because I understood both markets well. Having multiple businesses is only useful if you understand their markets thoroughly.
Your ability to communicate objectives, hire the best fit team and scale each business is routed in your knowledge of your target markets.
Divest yourself of any business you are unsure of because uncertainty weakens your focus not the number of companies.
Answered 5 years ago
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