Thinking of opening up a second business? Think twice and think hard…

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Opening up a second business is a recipe for a disaster!

Well, at least the odds of success are not in your favour.

The family owned businesses I mentor are what I call ‘boutique’ businesses…

They don’t own the marketplace, they specialise in it.

They make good money without having the headaches of running a large number of complicated businesses…

To grow any business requires a lot of focused thinking, focused resources and focused employees…

QUESTION: Who is focusing on these ‘focuses’ when you’re focusing on another business opportunity?

To me and my clients business is a game.

Lets call your first business – ‘The Main Game’…

When your eyes are off the main game for a different second or third game, then your main game suffers…

Now, you might be thinking: “how do big businesses do it…how do they get involved in so many other businesses?”

Don’t get hoodwinked…big businesses get it horribly wrong too!

Just look at what’s happening to Masters Hardware and Dick Smith Electronics…both massive failures as secondary businesses.

To do it right (and it can be done) you need to get your main business in order, systemise it and reduce it’s reliance on your day-to-day management of it.

In our Grow Business Grow Boardroom Program I cover off on identifying what activities you are unique at and which ones you should NEVER be doing.

This is essential in being able to free yourself up from the daily grind of growing the main business.

This process will identify your number one profit growing activities and all other activities that don’t contribute to your profit growth will eventually need to be delegated…

And to delegate properly you will need to have a template which documents your ‘how we do it here’ uniqueness, just like McDonalds did.

This will ensure that things get done the way you want them when you’re not around on a day-to-day basis.

Once you free yourself from the daily grind, then you can start to look at other opportunities.

Our way of doing things is unique and it’s why it produces unique results for our clients…

We would love the opportunity to help you clear your head on what is the right way for you to accelerate your business… 

We highly recommend you watch this step-by-step case study of how we grew Beefy’s Pies into a Famous Aussie Icon from a small stressed out bakery into a family owned chain. Click here to get all the insights into their success…

Or if you have heard enough about how we work with our small business owners, then let’s have an off the record chat about your current situation and see what we can do to immediately guide you…click this link to see what time best suits you.

P.S. Ask if our Boardroom Program intake is open for enrolments…It works best for business owners who see the benefit of having us on as their ‘external partner’ so that they are not alone in the day to day decisions of their business. 

 

 

 

 

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About the Author:

George Bakrnchev is a business developer, psychology double major and the Founder of The Grow Business Grow Boardroom Program - a unique program dedicated to helping business owners break free from working long hours for very little return. He says that if working hard was the key to success, then those who work the hardest would have the most - look around you: they don't!
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