Focusing in one area of business is better than running multiple businesses

[Hrtbeat]

I hv seen many entrepreneurs running multiple businesses in other to generate more profits but failed compared to one who owns a single business. What should hv been the cause?

 

[Toyoabasi]

I hv seen many entrepreneurs running multiple businesses in other to generate more profits but failed compared to one who owns a single business. What should hv been the cause?

It still balls down to poor planning.
There are business people who run multiple business and still make it, and others who run just one and fail at it.
I will advice that whatever scale of business we intend to take, we should be focused on adequate planning before starting up.

 

[JoeTom]

This is key when it comes to establishing a business and getting good results overtime, a situation where you are not consistent in your business makes it crumble.

 

[Mayox25]

If running of multiple businesses impact negatively on the business then a proper review of the operations must be done. Getting managers to run Some of the business will be a good thing.

 

[nimzy]

To some extent it can be said focusing in one particular business is .ore better than having multiple forms of business that you can not manage it effectively for the benefit of your self or for the purpose of generating income. some if the entrepreneur has multiple business but all are not moving effectively.

 

[Kubiat-Abasi]

Focusing on one prospect at a time is mostly advisable although, if you're good in multitasking then you can combine as many as you wish still effectively.

 

[Kelly5]

There is absolutely nothing wrong in people running multiple businesses. What makes the difference is the level and amount of planning that has gone into these businesses that would determine whether they would survive or fail

 

[Mfoniso Nyah]

Focusing on one thing or business first is good. You will be able to take the business seriously, you'll also be able to focus on how to grow the business.

 

[Niftyyem]

I hv seen many entrepreneurs running multiple businesses in other to generate more profits but failed compared to one who owns a single business. What should hv been the cause?

This submission is generalized and if I must say, very wrong. A huge percentage of successful entrepreneurs hardly stick to one thing. They mostly create a brand that encompasses several things which may be related or even unrelated sometimes.

 

[tyrim88]

One thing most people don't understand is that specialisation gives room to mastry,and once you have stayed long enough in your field and gain experience over some period of time then you become an authority in that field,then you can diversify into other sector,and employ managers to manage those sections and you oversee.

 

[eLdavis]

Though you have a valid point that focusing on one in most cases is better than having your attention dividend. From another point of view, there is no specific law that says on has to focus on just one business. It all depends on the individual, if he or she can handle it then go ahead. It is advisable not to start all at the same time, find a way to fully establish one before going to the other.

 

[Seno inyang]

Focus on one area of business first, get used to it and grow in it, getting more ideas to expand on other businesses. Give quality time to a new business first, get reliable hands in it and have more funds before thinking of expanding.

 

[Tislad]

Well running multiple businesses is additional money to your pocket thou and make you expand you coast beyond boarders but only if you really can manage it.

 

[Abigael]

I think it is truly best to focus on one business at a time. That way, you don't end up failing in others because you don't have time for all of them. You can start expanding once you get enough resources to run other businesses.

 

[Immilash]

yes focusing on one business is also a great idea ,it helps you to give out your full attention and concentration ,but you can also hire a employee to help you take care of some of the aspects, don't try to divert your attention , just focus on one business that's if you don't have someone to help you.

 

[Stnicholaz]

I hv seen many entrepreneurs running multiple businesses in other to generate more profits but failed compared to one who owns a single business. What should hv been the cause?

It actually difficult running multiple businesses at the same time. Managing a single business is very tasking not talking of having two or more. It is better to focus and grow one business until it is very stable to the level it can managed without you.

 

[alberello75]

@Hrtbeat
I do agree that it is much better to focus on one area of business.
This is also because, first of all multiple businesses also involve more costs. And moreover it involves a lot of attention to following many activities at the same time.

 

[Kvngsammy]

Those entrepreneurs who keep running multiple businesses and failing haven't had a good grasp of one before delving into the other. It's just like the old saying "Jack of all trades, master of none".
It's always good to master one skill, business, area of interest before trying to branch out

 

[Expert]

Maybe the entrepreneur realizes not being able to be in two businesses at once and so management becomes disorganized. Or maybe the entrepreneur saw good earnings with one business and overestimate they can earn more if such business is duplicated. A business thriving in one location doesn't necessarily mean it will thrive in a different location.

 

[Bright7777]

I don't think so, it depends on the business knowledge that the individual has if he is able and willing to engage in multiply businesses then that is fine but if he can't then we should focus on one.