Any idea/Advice starting two startups at the same time?
- July 24, 2017 at 3:30 pm #173005
I have two ideas related to each other whether it is worthwhile to run two startups simultaneously or one by one? Maybe I should unite them?July 24, 2017 at 3:45 pm #173006
How much sleep do you need?
There are tasks which will be easier to do at the same time rather than doing them twice and you may have better supported purchasing power to procure for or advertise two businesses at the same time but it depends on the business/industry and your energy levels.
There is a cost implications of running two businesses – mainly doubling your company accounts costs, company formation costs, business stationary costs which you could save if you kept it as one entity.
You need an accountant to advise on the tax point of view.
For me there is more logic having one successful, secure company rather than two mediocre ones because you spread your resources too thinly when starting them up.
- This reply was modified 3 weeks, 2 days ago by Ant..
Startup specialist with large amount of sales and marketing experience working with SMEsJuly 27, 2017 at 11:27 am #173176
It depends how linked they are to each other. But honestly, I’d advise you to focus on one first.July 27, 2017 at 5:01 pm #173195
Focus on one first if I were you. If they’re that closely linked, can you not just do them both together?
Don’t want to end up like this
Handyman business. Part-time Bristol PlumberJuly 31, 2017 at 9:54 pm #173375
As I understand, your ideas depends on each other so if it is truth, unite them and try to bring into life 1 big startup. Good luck!
Interested in innovations, startups. Have own food business.August 9, 2017 at 10:39 am #173634
I would struggle personally focusing on two start ups as a founder knowing how hard it is to do 1.
If you have done multiple start-ups successfully and have it down to an art then rock on! I know people have done it to a great deal of success but I just think it comes down to the individual and their ability.
If your a first time entrepreneur I would strongly suggest focus your energy and intent on 1 and make it a success. There will always be more ideas.
Startups, fundraising, crowdfunding.August 12, 2017 at 12:33 pm #173743
Hi! I know a lot of successful entrepreneurs who managed to grow their several businesses at once. I like diversity and I’ve started 2 online projects at the same time. Here are my advices:
Don’t separate the two—lean on what you know. Not starting another business is a waste of your personal experience.
Remember, choosing your team is more important than choosing your kind of business. Your team will be the frontline of your business. Treat your team with the passion, energy and focus like your business depends on it because it does.
“Our ability to come up with ideas is a blessing and a curse. It’s great that we’re constantly inspired and optimistic, but it can sometimes be hard to focus on one idea for long enough to turn it into a successful business,” Richard Branson says.