Benefits of having multiple businesses
Today we have tried our best to teach you about Benefits of having multiple businesses and we have elaborated some of the points that why you should not work on single business. There are two types of Entrepreneur : Those who own one company and those who own lots of companies. Those who own lots of companies can be recognized as ” serial entrepreneur”, which is always on the better side. Those who start one business may think themselves as “business owners”, which is always a headache for you because if you fail in growing one business, this can demotivate you and if you own multiple business then you can work on other if you fail in expanding your single business.
Now if you have started one company or any startup by you, then you can probably do it again. One business is not enough.
I will explain why.
1. MULTIPLE BUSINESS ASSURE THAT LIFE WILL NEVER BE BORING
Entrepreneurship is a rush. Let’s face it. Whereas most of people get into business to make a living , well i think that a life worth living includes starting businesses.
After having started a few, I will rightfully start more. Running a businesa is exciting in its own way, and I will prefer to continue to do so on a daily basis. Starting them however, has a set of unique challenges and thrills.
Keep starting companies and you will never face any boring day in your life.
2. MULTIPLE BUSINESSES CAN PROVIDE FINANCIAL SECURITY
If excitement isn’t your thing for which you work, then may be financial security is more palatable.
The reason is that if you are earning very low from your one business, then accurately you can manage from your other business which will not prove business as a burden for you.
Not every startup turns like Apple ($ 590 billions), facebook ($200 billions), Airbnb or Uber. Those companies are the rare exception, not the general rule. If you want to sit on a future mountain of cash, then you must know the Benefits of having multiple businesses to start more than one company.
3. YOU HAVE WASTED YOUR PERSONAL EXPERIENCE , IF YOU HAVE NOT STARTED ANOTHER BUSINESS.
One of the worst thing that you can do with your experience is to let it waste away. Experience is meant to be used, shared and acted upon.
When you have the experience of staring a successful company ( or any unsuccessful company), you can turn around and use that experience to do it again. Or, you can use that experience to teach others how to do it.
Experience is one of the most valuable takeaways from founding a company and is the fundamental need.
4. HAVING MORE BUSINESSES WILL MAKE YOUR MORE INFLUENCE.
Money is not the only thing that help in growing bigger with more businesses. Your influence grows along with the expansion of your business.
Serial entrepreneurs don’t remain out of the limelight long because of their experience , the are called upon to share their experience, speak at conferences, Participate in panels, provide interviews and write blogs.
This influence can be exhausting, but it is also rewarding. Influence is part of your personal brand and this influence comes from having multiple businesses.
5. MORE BUSINESSES WILL MAKE YOU BETTER
The first time you do anything, you can be slow. The second time you do it, you get a little bit better. The third time , you are starting to develop confidence. The fourth and fifth time, you feel like you are getting hold on everthing.
This is true for starting a business too. With every new business, you’re building your knowledge, brand, visibility, marketing experience, and other resources. Creating a business is even better than the one before.
So why would do it only once when you can get better with each successive attempt?
The more you start, the better you become. When you start your first business, it is the beginning of a promising and successful future as a serial entrepreneur.
Above mentioned are some Benefits of having multiple business, it is good for you, go and do it again.