A MOGUL’S ADVICE FOR RUNNING SEVERAL COMPANIES AT THE SAME TIME
If you are a smaller business you can micro-manage, be disorganized or lack attention and still persist perhaps even flourish to a degree. However, the bigger your business gets, the more these weaknesses will be visible. When I started to enlarge my little enterprise, there was a period where growth nearly ruined me I needed to change and I knew it. My failings of shortage of focus and hands-on management almost undid what I had built-up.
These guidelines will aid you in running multiple companies.
I recognize that there are super-techy apps that help in taking notes, but for me, not anything replaces a good old fashioned pen and paper. Something in handwriting things helps me to remember, and I live for crossing things off or tearing out a sheet of paper and chucking it into the fire. Notes are essential for many reasons, the ruler of which is motivation. When working on one business have a scratchpad by your side. When additional projects or companies pop into your awareness write it down then re-focus on your existing plan to be effective. Concentration and passion are obligatory to have momentum and with more than one company you can lose impetus which is the life force of industry. When your attention wants to go to a different place, write it down and re-focus on what you are working on now. Notebooks will support you to stay organized and fixated.
I work on each of my locations in each site and my other companies from my private office. These differing areas help my memory. I supposed this was odd but then I watched this film by Lewis Howes and Jim Kwik. It pointed out that we recollect by locality much better due to micro-evolution. Get in the routine of working on your different businesses in different places even if it’s on the laptop in different parts of your home. Settings defined for work will benefit you to uphold boundaries psychologically and remember when you need to.
The bigger you become, the more you need to spend the majority of your time running and developing your team. The only way to run numerous companies is to have a rock-solid crew. Your squad will be the vanguard of your business. Handle your group with the passion, liveliness and concentration like your company depends on it, well, because it does. Work with your team to shape and reproduce your time and energy.
INTELLIGENCE & REPORTING
Know which numbers matter to your company and have reports done weekly at a minimum. Measurement advances performance and data-intelligence's are your measurement displaying development or drop-off’s inside the business. In my locations or offices, I have reports done constantly displaying gross sales, net sales, client counts, material costs, labor costs, and per person averages. All these statistics will help or hurt my company and can make a substantial impact quick. Get reports with this data that matter your businesses in order to preserve control.
Great focus is mandatory in building up multiple companies to the level of prospering. Build one company at a time till you get a rock-solid team in place, only then you will have the “bandwidth” to work on your next one. With attention and lots energy, you can build an entrepreneurial kingdom.
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About the Author: Lalanii Wilson-Jones, MBA is a dynamic business leader based in Dallas, Texas who owns & operates multiple companies across several industries. Her range of talents and experience makes her an ideal candidate for strong economic partnerships all over the world, a great mentor and a great source of information that can change the mechanics of any sized company.
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