Over a year ago now, I made the decision to add another business to my stable and run three at the same time (Shining Academy, My Shining Year workbooks and doTERRA). While also homeschooling. Because YOLO and what can I say, I get bored and like to try new things.
This week, I’m going to share tips + tricks I’ve learned to running three businesses at the same time. And things for you to consider if you decide to multi-business it up!
And as always, not a complete transcript, but some notes.
- It’s useful to master one at a time and nail your marketing and systems in one before moving into other businesses
- Easier to do another business when it has the same target market – it cuts down on marketing and time
- Useful to have something that has a different income structure (i.e. recurring, passive, or with different pay cycles)
- Standard Operating Procedures are key for each business to run as efficiently as possible
- Looking at your Hedgehog Concept – What is a good economic engine, what are you passionate about and what are you excellent at? STICK TO IT.
- Have seasons/times for each businesses where you focus. For example, in my businesses –
- Workbooks now take a lot of time in September, then customer service and marketing November-January
- My doTERRA business has a lot of action happening at the end of each month
- My Shining Biz + Life Academy is steady throughout the year with monthly calls and course releases
- Map out your year of major launches/activities for each
- Get super lean on what is important, and what is not
So hope this is helpful to you as a multi-passionate-preneur!
You don’t have to give up all your dreams… you just have to get good and lean at one, then leverage that!
With love and abundance,