apparently, four is a good number

[CaptainAmerica]

Holy smokes, what have I done?

Bear with me, because I'm tired, and probably delirious. I have four businesses. Yeah, you read that right - four. Why? Well, it seemed like a good idea at the time....

Look, I know it's not tenable. But needs must.

Here they are, with a little detail:

1. A lab supply business that I inherited, and is about 80% automated. I need to keep up with inventory and do a bit of marketing in July, but it's pretty self-sufficient. Just a tiny amount of money coming in, because it's a microniche. I could and should expand my product line.

2. A consulting business that I started 2 years ago, while I was depressed-and-getting-better. Two productivity booklets and a new book on startups. Plus the 6-week program is almost ready. But I stink at marketing. Absolutely clueless about where to find customers. No, actually, I can find them (I've had several clients, several). I don't know how to reach them or orchestrate the conversations.

3. So I got a job today, selling insurance. It's part time, so I can still work my other businesses, and the owner is paying for the licensing. I figure a year of actual sales will teach me more than I could ever learn any other way.

4. I know you're all going to smack me for this, but I bought up shoot-back.com. Yes, I did. And ordered t-shirts. As soon as the shirts are shipped, I hit the button.

I must be mad.

Oh, so what drives all this? Carrots and sticks, baby; carrots and sticks.

Sticks: 5 kids, some in college, and 2 cars and a house that need maintenance. Credit card debt. And a whopping student loan.

Carrots: the loans and house paid off, kids not struggling for college money, FU money, the boat, the horses, the travel. Being able to buy the talent I need. Not missing out on the next African adventure.

I know that my stuff is good. I know that I have the ability to make good on the plans. And thank god, I take my vitamins.

 

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[InnovateDesign]

I would focus on one. You will not be able to really grow any of your four businesses and learn what you need when you have 4 to focus on. Find the one that has the most potential and drop the other 2-3.

 

[biophase]

Why did you get a job? Sounds like the other businesses aren't making enough money??

 

[AgainstAllOdds]

while I was depressed-and-getting-better. Two productivity booklets and a new book on startups. Plus the 6-week program is almost ready. But I stink at marketing. Absolutely clueless about where to find customers.

You were depressed, so you decided to teach people how to start a company? Even though you're working a job to finance the business that teaches people how to create a successful business?

 

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[CaptainAmerica]

Yes.
The depression came because I identified too strongly with my previous job - they laid me off, and I lost myself. I had already started my own consulting business. I know how to run the technical operations for a company. I don't know how to market. I thought I could learn it and/or contract it out. And I've done... okay. But I don't want to do 'okay'. I took the new job to learn how to sell, not to finance my work.

 

[CPisHere]

Apparently four is NOT a good number (it could be for someone else, but it isn't working for you).

Focus exclusively on the lab supply business because it already has traction. Double the monthly profit by the end of this year. Once you've done that, you can consider doing something with the other "businesses".

 

[JokerCrazyBeatz]

So are all these business profitable ?

 

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[Tapp001]

Wow, that's a lot of activity. I'm sorry about the job, though. I also just took a part-time job to learn selling, though I as of yet have no businesses.

Lots of people here recommend focusing, and it looks like you have two things that are really worth focusing on: the lab supply company and the consultancy. Maybe you could compare the two to find out which one creates more value and best meets the fastlane business criteria, and pour your focus into it.

As for Shoot Back, I think it has some awesome potential, but right now I think it’s your Shiny Object. It’s not a bad idea, but its going to require some validation and testing, and that will eat time and resources you pour into either of your two functional businesses. Maybe you can sell the domain for a quick a profit? There must be a domain marketplace where you could sell the idea of Shoot Back to another entrepreneur, or even a community group.

Doing this would take reduce your projects from four to two – one potential fastlane and one job with homework. Don’t forget that even if your boss is going to pay for your insurance license, you still have to study for it on your own time. It may even be worth looking for another sales job where you don’t need to earn a license.