Balancing business

[johnkerr]

Hey guys,

I already run my own reasonably successful business as mentioned in my other post. I'm also trying to get a second business off the ground, my first business is turning a healthy profit but my second business is a long way off turning a profit but has maybe more potential long term. I never want to spend time on something that isn't returning money though. How would you guys balance your time with projects like these?

[v2Media]

Are you a family man John? Or is your time your own?

Being a family man, I find the time that goes into extra projects is taken away from family time. I have to be compensated for that. If the project has no prospect of income and contributes nothing towards the comfort and future opportunities for my family, I wouldn't do it.

In my days as a single man, I'd risk taking on projects with prospects of long-term pay-offs but no money up front. My time was my own and I was free to spend it how I wished. However getting married and having a family changes all that. If I were to carry on with risky projects like a single man, I'd consider myself a neglectful husband and father.

[YVB]

Scale and potential - is it scalable and you mention the possibility of better potential, it's then just scheduling time between the two and you have the benefit of an income while the new venture starts to gather momentum.

[jwmann2]

Hey guys,

I already run my own reasonably successful business as mentioned in my other post. I'm also trying to get a second business off the ground, my first business is turning a healthy profit but my second business is a long way off turning a profit but has maybe more potential long term. I never want to spend time on something that isn't returning money though. How would you guys balance your time with projects like these?

One thing at a time. Why not put more work into the first one? Your not seeing a return on money because your not putting the time into your second project. You only get out of it what you put into it.
Do you have a day time 9 to 5?

[AshleyWhiteBusiness]

Engaging in any online business is risky especially nowadays that trends seems to change from time to time. Sometimes it is becoming a trial and error.

Before I start a project i see to it that I have performed enough research to see if my time and resources are worth it for that project.

[shreyash]

You can add new services/products you are going to provide, along with your first and established business or we can say you can use your first business to establish the new one.Online promoting is also helpful in this.

[Linda Enever]

John I have businesses inside my business but it can be hard to manage. One of my major clients for Media Connections used to be my main business but I am spending the next 12 months transitioning management of that to my husband as he changes focus. For us it is about balance and transition and letting go and finishing up projects

Hope my ramble helps

[lancejeffersons]

Balance your time, set plans on what you will do for both of your businesses..Something like what to do for this business, what are the needs of this, and same for the other business..

[shreyash]

You can put your business listings on some online b2b portals..