I MANAGE multiple businesses.
I say manage because I don't run them by myself, I have a great team that helps me.
I just couldn't do it myself.
I own a B&M retail store that I have 4 full time employees, and 2 part time employees. I started this in 2006 and worked alone 12 hour days, six days a week for the first year, but when it began to really become profitable, I began to hire the help I needed. I currently am working on our processes and procedures to scale this business and open another location. I want to get it done right as I believe this could become a chain of stores. My major concern is to make sure all the processes are in place before pulling the trigger.
I have several niche websites. The first was started in 2000. I didn't know the first thing about ecommerce but I really KNEW my market. I was an expert in my field because I had worked it for the majority of my adult years. I knew if I could find the vehicle to market the products, I would have a decent chance at succeeding. Not guaranteed, but at least possible. Then the internet opened up for anyone to show their wares 24 hours a day, and I jumped on board. The first site grew quickly, and I realized the possibility of opening a second similar niche website which when online in late 2001.
We ship 95% of our products and dropship 5%. Both sites are quite profitable. I quit my j.o.b. in 2003
In 2008 I started a manufacturing business with a partner and a $500 investment. We now have 32 branded products and 24 major dealers throughout the US. This company has the potential to develop into a nationally recognized brand and both of us realize that but our other interests seem to be our priority. We each average only about 5-6 hours weekly on this little project, but it brings in 5 figures every month. Its almost embarrassing.
Lastly, I also sell on Amazon. I have 3500 products that we ship out of our store. I've only begun to utilize FBA in the last 2 months on a couple of products just to see if it would really benefit. We ship out over 100 packages daily on AZ.
So, long story short, I do believe you can have multiple businesses but you've got to have a team to help you run them. There is no way I could do it all myself, nor would I want to. I provide incentives so that as the businesses grow, so does their paycheck. I want to bring my team along for this great ride. And it excites me to see them get excited when they see that monthly bonus. To me, that is what its all about.
I find my time has become more precious and I've turned down some real opportunities that at one time I would have jumped on. I think that is what happens when you have systems in place that continue to churn out enough income to live good.
Its not easy, but it is simple, just keep working your plan, and plan your work.
I say manage because I don't run them by myself, I have a great team that helps me.
I just couldn't do it myself.
I own a B&M retail store that I have 4 full time employees, and 2 part time employees. I started this in 2006 and worked alone 12 hour days, six days a week for the first year, but when it began to really become profitable, I began to hire the help I needed. I currently am working on our processes and procedures to scale this business and open another location. I want to get it done right as I believe this could become a chain of stores. My major concern is to make sure all the processes are in place before pulling the trigger.
I have several niche websites. The first was started in 2000. I didn't know the first thing about ecommerce but I really KNEW my market. I was an expert in my field because I had worked it for the majority of my adult years. I knew if I could find the vehicle to market the products, I would have a decent chance at succeeding. Not guaranteed, but at least possible. Then the internet opened up for anyone to show their wares 24 hours a day, and I jumped on board. The first site grew quickly, and I realized the possibility of opening a second similar niche website which when online in late 2001.
We ship 95% of our products and dropship 5%. Both sites are quite profitable. I quit my j.o.b. in 2003
In 2008 I started a manufacturing business with a partner and a $500 investment. We now have 32 branded products and 24 major dealers throughout the US. This company has the potential to develop into a nationally recognized brand and both of us realize that but our other interests seem to be our priority. We each average only about 5-6 hours weekly on this little project, but it brings in 5 figures every month. Its almost embarrassing.
Lastly, I also sell on Amazon. I have 3500 products that we ship out of our store. I've only begun to utilize FBA in the last 2 months on a couple of products just to see if it would really benefit. We ship out over 100 packages daily on AZ.
So, long story short, I do believe you can have multiple businesses but you've got to have a team to help you run them. There is no way I could do it all myself, nor would I want to. I provide incentives so that as the businesses grow, so does their paycheck. I want to bring my team along for this great ride. And it excites me to see them get excited when they see that monthly bonus. To me, that is what its all about.
I find my time has become more precious and I've turned down some real opportunities that at one time I would have jumped on. I think that is what happens when you have systems in place that continue to churn out enough income to live good.
Its not easy, but it is simple, just keep working your plan, and plan your work.