Active Businesses - One versus Many

What’s the ideal number of businesses to have?

There are many views on how many active businesses a person should have. There are advantages and disadvantages for both extremes. The problem is choosing the right amount of active businesses. Having been at both extremes myself I believe I have found the solution.

Advantages of one business
With one business you have the advantage of being able to devote all your time that you spend on that one business, so that business will eventually be successful if you put in the work and if it is a good business.

Disadvantages of one business
There are many problems with only having one income source. So one business is not the way to go unless you can perfect that business and some how minimize the risk of losing that income source.

How about multiple businesses
A ‘program hopper’ generally doesn’t have success at all. These are the majority of people who haven’t found a good business and stuck with it. Everyone wants quick results on the internet. Like all other businesses the internet is no different, you need to put in the work to get paid.

The Solution
How about taking the best of both worlds? You have a few good businesses. Spend a little time on each of them. See which business is more successful then promote that business more than the other businesses.

This is a great plan for safety reasons. If you lose one of the businesses you have the other businesses that you can still make money with. The key here is that you don’t lose big by losing one of your businesses.

My personal plan takes it a step further and involves promoting a few of my great businesses that I am a part of in a way that I can promote them both, then separate them later for each business. This way I am promoting multiple businesses by promoting one link/page…

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