is it wise to run Multiple Startup?

[Profwriter]

Your ability to do multiple tasks at the same time without errors or mistake will determine if you can run a multiple set up at the same time, but don't forget that every new set up is time consuming and requires great attention.

 

[Husnainali]

In business, running multiple businesses is a good idea, but it can't be done when you're just starting out. It will save you a lot of time, energy and money if you focus on starting a business early and then building a second one after the first one is finished.

 

[Onachukwu]

Multiple businesses can provide financial security. Notice, however, that is only successful startups. For every one successful startup, there are as many as nine unsuccessful startups

 

[springtech]

why do most young Business owner after taste of early success in business tend to be swayed by emotions of creating another with the hope of being successful with the two businesses.

The forget the saying of Confucius that man who chases two rabbits catches neither.

They forget too soon that the ability of an entrepreneur to focus on one thing is an important strength needed to drive a business.

what are your views on the topic discussed, is it wise to run Multiple Startup?

I wouldn't say it is wise neither will i say it is foolish. Rather i would say, it depends. It really depends on your capacity of the business owner.
Can he drive more than a business at a time. Does he have what it takes to run such multiple startups in terms of time, passion, commitment, funds etc
These are the key critical points to consider.

 

[Olanykie]

I've tried it before, if you cannot multi-task, running multiple businesses will get you choked. I single handedly run 3 business last 2 years after few weeks i broke down completely. It's not advisable if you don't have helping hands.

 

[Jlife]

it is not always advisable for one single individual to run a lot of business ,success in one part of business does not guarantee a success in another part of business, you may succeed in this one but you may not have an opportunity to succeed in another one you will like to establish.

 

[Oluwasayofunmi]

Concerning the question on is it wise to run Multiple Startup? From my own opinion, It is not wise to run multiple startup. To be successful in any business, one has to invest one's time and hardwork in it, which cannot be possible when running multiple businesses

Post automatically merged: Feb 13, 2021

Concerning the question on is it wise to run Multiple Startup? From my own opinion, It is not wise to run multiple startup. To be successful in any business, one has to invest one's time and hardwork in it, which cannot be possible when running multiple businesses

 

[Esther]

In my opinion I feel it's not wise cause you could get confused and mix up things and new businesses need time and attention and that will really drain you alot and so start one and when you are conversant with that one and you're okay and you have learnt a lot about business then you can start the other one . On at a time.

 

[Blessedsam60]

It's not really wise to start up two or more businesses when you don't have the required capital and the human capacity isn't enough. For a start, stick with the first business then from your experience you can be able to do your sword analysis to see your strength and weakness. Then you can know if you are capable of combining two or more businesses.

 

[Ltherman]

There is every chance that two business could exist with the founder being focused on them both especially when its within the same value chain of the business or when the businesses are inter dependent.
Never downplay the power of the mind and how much we can as a people.

 

[Kamon c4]

The philosophy of Confucius on business rarely works in modern world. It’s very advisable to run more than two business provided you’ve the capabilities and resources. Moreover It can serve as a good way to diversify your income

 

[maventiger]

That you cannot do it does not means that others cannot achieve it, though it may not be so that easy at beginning, know this at the back of your mind that, all businesses have there own risk, i will encourage you to go ahead, if one fail, the other will survive, seek more knowledge and capitals, for running two or more businesses at the same time consumes a lots of resources, time and energy.

@abayomibsk the same way entrepreneurs lose focus on their business and end up losing the two businesses. Same saying, "if one fail, the other will survive" easy to say but it doesn't happen that way in the business world. The burden of a single business alone is more than what most entrepreneur can shoulder how much more two.

 

[Diamond07]

why do most young Business owner after taste of early success in business tend to be swayed by emotions of creating another with the hope of being successful with the two businesses.

The forget the saying of Confucius that man who chases two rabbits catches neither.

They forget too soon that the ability of an entrepreneur to focus on one thing is an important strength needed to drive a business.

what are your views on the topic discussed, is it wise to run Multiple Startup?

Running multiple startups can be a lot draining, the ability to focus might be lost. It's better to focus on one and achieve success. The best thing to do is invest into other businesses and make passive income therein

 

[Blessingedidiong]

Starting multiple businesses is not a good idea. It will be so stressful and difficult to manage at a time. It is better to start the businesses one after the other for convenience and good management.

 

[Nicklas22]

It's not a wise decision to start up many business ventures, because you will end up losing in everything
You should just focus on one business, try to know everything about the business and you will definitely become successful in the business

 

[Mandypaul]

This could be as a result that they may not have a good understanding about the particular business they are trying to run. If a particular companies find success in one area of business they may not have the knowledge about another type of business that they should run, I think that is the reason.

 

[Kingsley]

@Kingsley thanks for your contribution. The topic discussed is if running a multiple business a wise decision for an entrepreneur not multiple streams of income. I would like to see your next comment on the topic discussed. kindly quote me when next you comment @kingseley.

@Kingsley thanks for your contribution. The topic discussed is if running a multiple business a wise decision for an entrepreneur not multiple streams of income. I would like to see your next comment on the topic discussed. kindly quote me when next you comment @kingseley.

Thanks for the clarifications, I quite agree that it will be in our interest to have multiple outlay of business in other to withstand this new economic situation.

 

[Mostee501]

Not necessarily because each and every entrepreneurship venture demands a dedicating and consistent effort. It's my opinion that multiple business start ups for young entrepreneurs is a certain distraction and ill advised. Concentrate on one and grow. Trusting the process is vital.

 

[maventiger]

Thanks for the clarifications, I quite agree that it will be in our interest to have multiple outlay of business in other to withstand this new economic situation.

@Kingsley you are welcome. But in a situation where one of the business cannot be operate independently, it becomes a big problem dividing your attention between the two. Is it not better to face one and be successful than face two. Owning a business is not an easy task.

 

[Nuonuh]

The reason behind why most entrepreneurs anticipate to start another business while one is running well is to diversify means of realizing profit but if the owner of the business does not have enough resources, he should not try it.

it's not really about running multiple start-ups... It's how good the business plan is.. And how good your budget stands firm.. You don't literally run them alone... division of labor and different mindset can make multiple business grow well