Yes, running several businesses all at the same time on top of starting off multiple different projects is definitely a challenge. Spreading yourself thin over many projects all at once is definitely something that can make a lot of things, a lot of your projects, a lot of your dreams go nowhere. However, that being said, you can actually make it happen. It’s not necessarily easy, but with the right focus, tools and people it can be done.
I love to do a multitudes of things. Not just in my areas of interests and hobbies, but also in business. I like a lot of shiny objects that present themselves to me – so to speak. The challenge is of course how to master the in-all-places interests and actually achieve the results you hope and strive for.
One of the best ways to tackle this and your ambition for running multitudes of things all at the same time is to utilize people or teams and tools. The people factor is what you would come to expect hiring the right people for the various jobs at hand. The right people can make it possible for you to achieve the right results. It’s an obvious part of the equation you might expect me to suggest. Finding and getting that perfect right team is a different matter altogether. Not always very easy. Not always without some struggles, set backs and frustration – not to mention pain. Further details on people, hiring people and managing people I will leave for a future discussion. But going back to the other part of the equation leaves tools.
One of the very important tools for running your business – and even more so, running several businesses – is your P&L statement, reviewed on a regular basis, and your budget.
Yet, I’m often astounded by just how many business owners and entrepreneurs I meet on regular basis from all over who seem so unaccustomed to actually placing much effort and attention to this. If you wish to have a lifestyle that will afford you the income gained from running a business (or several) you need to utilize these tools. A budget will show you the viability of your business. Of course your budget can be completely off, but I do not see why it would be extremely off unless you didn’t do your budgeting work decently to begin with. A monthly review of your P&L statement (your profits & loss statement) will tell you if you are on track, lacking or perhaps hopefully ahead. It can also let you know if you need to do some adjustments to the way the business is run (or the way in which your team is running your business).
If you know your numbers well, then you can to a greater extend actually step away from the business and have others take care of most of the operations for you. Why? Well, because if you know your numbers well and you review your business numbers on at least a monthly basis, then you can very quickly access whether you are heading for the results you are striving for. If you are not you should relatively quickly be able to see where in the equation things go wrong and thus find out where it is that you need to address your team’s attention towards.
The Plan For Success System
I’m in the midst of finalizing a small program on this exactly topic.
The program was born out of a chapter that I wrote for a great book-collaboration I was invited to do with one of my own mentors, Mr. Brian Tracy. You must know Brian Tracy. If you don’t, you are really missing out. I highly suggest you get acquainted with his material (there is a lot!). The book-collaboration resulted in the book called The Only Business Book You’ll Ever Need. It became an instant best seller on Amazon when it was released earlier this year. Among the other co-authors you find Robert G. Allen, with whom I have also worked and Masterminded and who has a long string of best selling books behind him and who has sold over a billion dollars worth of information products. Yes, that’s a billion with a b. Leigh Steinberg, who is the real life character of Jerry Macguire, portrayed by Tom Cruise in the the film of same name, also contributed to this book. I have had the great fortune of meeting Leigh on a few occasions and he has many lessons to share from his world. My friend Larry “The Connector” Benet is also part of the book collaboration along with a few other very remarkable people that I’m quite happy to be associated with and whose names you may know (or should get to know). In other words, the book is filled with insights from a lot of great people who have achieved much and who have made a remarkable life.
I expect the special program that looks a little further in depth of this particular aspect of running a business to be released within a week, so be sure to keep a look out for it. In fact, may I suggest that you sign up for my newsletter, so I can advice you on its release and/or progression?