If you’re an IT professional service firm, the chances are that you’re already successful in what you do. But what happens when you’re hit with an idea for a new business venture, and you feel like you can’t pass it up? Running multiple businesses simultaneously can be challenging, but it’s not impossible. In this blog post, we’ll go through some tips on how you can run multiple businesses successfully as an IT professional service firm.
- Coach someone who can take care of operations
If you want to run multiple businesses, you need to delegate tasks. You can’t do everything yourself, and if you try, you’ll only burn out. Find someone you trust to take care of the day-to-day operations of one or more of your businesses. This person can be a partner, a manager, or someone you’ve hired specifically for this purpose. Train them on the ins and outs of the business and create clear communication channels to ensure that you’re always in the loop.
- Bring your businesses together in the same place
One way to make running multiple businesses more manageable is to bring them together in the same location. By doing this, you can save time and resources on commuting and logistics. It’s also easier to manage and oversee the different ventures when they’re in one location. Consider renting office space or even purchasing a property to house all your businesses.
- Use the same processes
As an IT professional service firm, you probably already have a set of processes and systems that you use to run your business. Use the same processes for your new ventures. This will not only save you time and resources, but it will also make it easier to manage the different businesses. If you’re introducing new processes, make sure to document them, so everyone is on the same page.
- Don’t sweat the small stuff
When you’re running multiple businesses, it’s easy to get bogged down by small details. Don’t sweat the small stuff. Focus on the big picture and the things that will move your businesses forward. If you’re worrying about every little detail, you’ll burn out quickly. Instead, prioritize the tasks that are most important and delegate the rest.
- Bring in expert help
When you’re running multiple businesses, you’ll inevitably face challenges that you’ve never encountered before. That’s why it’s essential to bring in expert help when you need it. Whether it’s legal advice, marketing help, or financial guidance, don’t be afraid to bring in experts who can help you navigate the challenges of running multiple businesses.
- Always be reporting
Finally, it’s crucial to keep track of how your different businesses are performing. Create regular reports that highlight the key metrics that you’re tracking, such as revenue, expenses, and profitability. Use these reports to identify areas where you can improve and make adjustments to your business strategy as needed.
In conclusion, running multiple businesses as an IT professional service firm is challenging but not impossible. By delegating tasks, bringing your businesses together, using the same processes, prioritizing tasks, bringing in expert help, and creating regular reports, you can successfully manage multiple companies. Remember to understand your limitations, divide and conquer, and always keep an eye on the big picture. Good luck on your next adventure!