What is essential to successfully launch two entrepreneurial ventures concurrently?
This was selected as Best Answer I’d agree that you need competent management for both business but as an entrepreneur that has two successful business that are not related (IT Consulting and Organic Mold Remediation), I think the number one skill set is passion. If you don’t truly love one of the businesses you will not devote any time to it and your management team will see that and also give up. Along with passion, a good plan is essential. Every year I spend time and update our business plan but I also work with my management team to build their own business plans for their business units and have them describe not only to me, but the other team members, how they plan to achieve their goals. We then follow up on this quarterly. Having the management team identify their own goals, their own metrics, and their own measurement techniques gets them deeply involved so that when you are not there and are running the other business they will run it like their own. Hope that helps, Michael
