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

[Elfinito]

You can still be successful with multiple businesses.
You just need to employ more man power and experience staff to help run the business.
Yo cannot do it all alone or you may incure some losses

 

[Partisan]

It all depends on how much capital you have you have enough capital to run multiple business and have multiple source of income is a good idea but if we don't have much capital to do that we just have to focus on one invest their capital and expect a good return because there's no two ways about

 

[Good-Person]

There are many people who have a hard time focusing on many businesses and this is why I recommend to focus on one business if you cannot concentrate on other businesses. You must do what you like. If you are not interested in multiple or different businesses, then run one specific business.

 

[Sotherefore]

I rather focus on one type of business and really be talented in the business perfectly than to focus on so many areas of business without having a proper concentration on those business... Most people are likely to succeed if they really spend much of their time and build one standard business than to looks into different type of business and lose concentration in all.

 

[Ub40]

I don't see anything wrong in running multiple businesses if one has the ability to do so as there are people who still succeed doing this. If one can't cope then he or she should focus on one business. That is just my opinion. Thanks for sharing.

 

[jay]

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's always a fools job to get your hands into so many things and still end up with not being perfect in any particular one. It's better to specialize in one and be a master in it. Invest all your time and money on it and grow it.

 

[kayode10]

It will be good to focus on one business when you are just starting out. You are going to lose focus when you are trying to run multiple business at the same time. You need to gather some knowledge before you are capable of running multiple business.

 

[Adebayonle7]

The cause of such failure is the inability to apply effective management strategies to the various businesses involved. There is nothing wrong in doing various businesses but make sure to have a solid business plan for each (proper management and finance plans plus proper monitoring and effective workforce) but overall, i would prefer to stick to one area of business, easier to monitor all the ongoing activities that will lead to business growth.

 

[jay]

Currently, I'm running only one business and it's going very well for. I'm not looking for any kind of business to start up because I believe that I won't have the time to properly manage it.

 

[Blessedsam60]

Maybe good or not. Multi source of income remains the best. Multiple businesses are quite good at least 2-3 can help ease the financial demand.

 

[Skysaint]

From the tone of your writeup, I think you mean for someone who's just starting business, whether it's best to start with one or to run multiple businesses? If that's the case, then it will be best to start with just one and when you are balanced you can now diversify

 

[Kane]

Some people are so good that they managed to run multiple businesses at a same time and still become successful. The success depends on your knowledge, skills, experience, expertise, as well hiring efficient workers to work for you.

 

[Laurentta]

It depends on the individual and the type of business. If an individual is to run multiple business, then he/she should not run up to about 4 large business, he/she won't be able to handle it. It should be all small business or a large business and the rest small.

 

[joy101]

Is really good to focusing on one business in order for you to be very serious with the business, instead running so many business.

 

[Godspower]

Running several businesses at the same time requires hardwork, concentration and dedication. At a point, it might be difficult to make maximal profit from both of them so it's better to focus on one.

 

[kayode10]

Chasing too much idea at once is a kiss of death. focus is very important when you want to achieve something worthwhile with the business you are doing. This is the reason why you need to focus on one business rather than running multiples at once.

 

[Good-Person]

Maybe good or not. Multi source of income remains the best. Multiple businesses are quite good at least 2-3 can help ease the financial demand.

I have always believed that having multiple sources of income is always a good idea and this because you can generate money through many income streams and if one business fails, you can rely on other sources.

 

[Dagm1]

It's a good idea to concentrate on one activity or one business at a time. You'll be able to take the business seriously while simultaneously concentrating on how to expand it.

 

[Ezekiel]

If there is a standard law that guides or tell us not to run multiple business then i would have,i personally think that only a start up business shouldn't have more than one business,then after some years or understanding the business,you can then start another

 

[Sotherefore]

Most people do not really understand this , they think that the best way for them to make money in life is to focus on so many areas of business, this is not always the best option because at the end of the day you will not be able to concentrate in all those areas you are dealing on,to me it is always better to deal with one alone at a time.