After having interviewed a few entrepreneurs who own and manage more than one business, I noticed a few similarities between all their personalities. One very pertinent character I found similar among all of them is the sincere passion for loving what they do. It seems like they first realized they loved it then they decided to turn it into a profit-making model. Then, they all expressed the same sentiment about how loving what they do is more important than making money. But of course, the money becomes important when you have to pay a staff and keep up with expenses.
Based on my observation, here is a list of things that makes a successful multi-business owner:
- Genuine passion for what they do
- Happy to give back or pay forward
- Keep a healthy relationship with staff/employees and vendors
- Understand how important marketing really is
- Continued education
- Network! Network! Network!
- Web Presence – Social Media
- Time Management
Owning multiple functioning businesses is not for everyone.
According to Bloomberg Business Week: “Having one successful company makes it easier to start a second one, but it’s also a risky venture that—if not done correctly—could jeopardize not only the new company but the established one as well.”
Without further a due, I would like to introduce to you a friend of mine and one whom I admire due to his passion for turning his hobbies into businesses. Watch the video to learn more about Brian Masayon, owner of PTRN-Care Inc., Hobam Photography, M Productions and Events and Colony of Healers Clothing Line.