Managing Multiple Business – So, you’ve caught the entrepreneurial bug, huh? You’re juggling more than one business at once and, let me tell you, it’s a ride. When I first started, I thought I was being clever by launching multiple businesses at the same time. “Why not diversify?” I thought. “It’ll be fun!” But, man, was I wrong about the whole “fun” part. It was intense—and honestly, a bit overwhelming. But after a few lessons learned the hard way (there were definitely some late nights and burnt-out moments), I can now say I’ve found a rhythm. So, if you’re managing more than one venture or are thinking about it, here are five strategies I’ve found essential in keeping everything running smoothly.
5 Key Strategies for Managing Multiple Business Ventures
1. Time Blocking is Your Best Friend
First things first, time blocking is a game-changer. When I first started splitting my time between two businesses, I was all over the place. I’d start one project and then jump to another without finishing anything. I was like a ping-pong ball bouncing between tasks. Eventually, I realized I was just spinning my wheels. The key? Structure.
I now block out time in my calendar for each business. I designate Monday mornings for Business A, Tuesday afternoons for Business B, and Wednesday for both businesses to overlap—whatever needs immediate attention. Doing this helps keep me focused. Without this structure, I find myself doing random tasks or checking my email too often. Time blocking forces you to focus on one thing at a time, and let me tell you, that makes all the difference.
2. Use Technology to Streamline Everything
I’ll admit it: I didn’t always lean into technology as much as I should have. I thought I could keep track of everything manually—big mistake. But now, I use a ton of tech tools to help manage everything. I’ll give you a quick list of the ones that saved me:
- Trello or Asana: These are project management tools that help you organize tasks and set deadlines. I put all my to-do lists for each business on there, and it’s so much easier to keep track.
- Zapier: I use this to automate repetitive tasks between apps. For instance, if someone fills out a form on my website, Zapier automatically adds them to my email list and sends a follow-up. It’s like having a personal assistant without the cost.
- QuickBooks: For finances, QuickBooks is a lifesaver. I don’t love numbers, but this tool helps keep me on top of everything, from invoices to taxes.
Don’t shy away from using tech to streamline things. It’s like building a support system that handles the grunt work for you, so you can focus on the high-level stuff.
3. Outsource Where You Can
This one’s tough for a lot of entrepreneurs, especially if you’re like me and think you can do it all yourself (spoiler alert: you can’t). There’s a point where you hit a wall. I was trying to handle everything—customer service, social media, finances, marketing—and all it did was burn me out.
I started outsourcing small, but important, tasks. For instance, I hired a virtual assistant to handle my emails and some social media posts. That freed up a chunk of my time to focus on growing my businesses, rather than getting lost in mundane admin tasks.
When considering outsourcing, be clear on what you need to handle and what someone else could do just as well, if not better. For instance, I didn’t want to outsource customer service because that personal touch matters to me. But bookkeeping? I had no business trying to balance those numbers. Find those areas where you can lighten your load.
4. Prioritize Like a Pro
It’s easy to think that everything is equally urgent when you’re running multiple businesses. But trust me—some things can wait. Over time, I’ve learned to prioritize based on urgency and impact. I had to learn this the hard way after working on a non-urgent project at 3 a.m. (not smart, don’t do it).
Here’s how I do it now: I break everything down by deadlines and importance. If something is urgent and will significantly impact cash flow or operations, that gets top priority. If it’s something that can be done next week without any real consequence, it goes on the back burner. Sometimes, I even ask myself, “If I didn’t do this today, would the business survive?” If the answer is “yes,” it’s a sign to push it down my list.
I also use the Eisenhower Matrix (you’ve probably heard of it). It helps me separate tasks into four categories: important and urgent, important but not urgent, not important but urgent, and not important and not urgent. This helps me figure out where to focus my time each day.
5. Take Care of Yourself (Yes, Seriously)
I can’t stress this enough: if you’re not taking care of yourself, you’re going to run out of steam—and fast. When I first started out, I thought working long hours was the key to success. I was up until midnight every night and working on weekends, telling myself it was all part of the grind. But burnout hit hard. It wasn’t pretty.
Now, I schedule breaks and downtime like I schedule business meetings. I take walks, I meditate (don’t laugh, it helps), and I make sure I get at least 7-8 hours of sleep a night. Honestly, I think I’m more productive now than I was back in those “grind” days. Taking care of yourself gives you the energy and mental clarity to make better decisions for your businesses.
So, there you have it. Those are the five key strategies that have really helped me manage multiple businesses without completely losing my mind. It’s definitely a balancing act, but with the right tools, mindset, and support, you can keep all those balls in the air without dropping them. Give these tips a shot, and remember, you don’t have to do everything at once. Small wins add up over time!
