Any of you run more than 1 7 figure businesses

by YoungCaesar. Posted on Sep 14, 2020    0    7


Hi Guys

I currently run a 7 figuere online business. I'm at the helm of it, I do have a team that supports me but it still keeps me busy.

My former boss (VC) wants me to helm a new project that's a really great fit for me and my skill set.

I'm concerned about the time/effort needed across both businesses.

I look at the Elon Musks and Jack Dorseys of the world and wonder how they are able to helm multiple HUGE companies as CEO.

Not saying I'm cut from the same cloth, just wondering is it possible? Even at a smaller scale? Two or more 7 figuere, low 8 figuere businesses.

Anyone out there who does this?

Thanks!


Comments

tvera2020 1

If you delegate with excellent partners that also care about the business, you can do both.

If your personal life wont suffer, go for it.

ConsultoBot 1

You probably need a general manager for your current 7 figure business that does what you are doing. You need to convert into a goal setting and guidance role and leave execution to your staff.

cworxnine 2

Your former boss doesn't care about your business or what it requires, he cares about using your labor. Tread carefully. Elon deserves respect but his work life looks very unhealthy.

LeadsKiwi 11

Yes.. You do not do it alone... I own many businesses and 2 of them (CBD company and my SEO company) are over 7 figures and another (elderly care) is Fast approaching that mark hopefully by April 2021.

I work only 6 hours a day on average. I have managers, employees, accountants and many others who help make my stress level near 0 and make it all run smoothly. I could never do this alone or would want to try to

  YoungCaesar 1

Super interesting! Appreciate your response.

I have partners in 1 business - in your case, if you have partners, how did they feel about your "disappearance" so to speak to stand up the other business line?

I'm concerned about being in two places at once. I get once the business is stood up you can find team members to cover areas for you but otherwise how did you handle it?

LeadsKiwi 6

I don't disappear at all. I am always available when needed. I set up a structure and protocols that work.

It took years to build this system but works great now. I spend a lot of time on new businesses i start and have my team help me along the way.

You can not be in 2 places at once and you need to understand that. This is why you delegate tasks off.. This is why you hire employees. You have a role and your partner has a roll and your employees have rolls.

New businesses i start with no loans and i start very cheap as possible incase they fail i don't lose much. I then set up my structure and go to work. We delegate tasks between my partner(s) and I and are clear what our rolls are. Then once sales come in we do not take a paycheck but expand and hire employees to relieve stress and workload. Then it becomes profitable and we take our paychecks.

Every business I have has one of my partners working full time in the business. I cant work full time at them all and no one expects me to.

Boarders0 1

You said it very well.

OP if you are worrying about being everywhere at once, you are showing your managers either 1) they can do what they want, you are there always to clean up. Instead of doing their jobs of managing. Or 2) they are un necessary.

You got to work on your business now not in it. Set it up so your people can run it themselves.