MBA1016 Should You Start a 2nd Business on the Side?

The $100 MBA Show

Omar Zenhom

Entrepreneurship, Business, Careers, Marketing

4.8 • 2.2K Ratings

🗓️ 31 May 2018

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

We get it. Entrepreneurship is addictive.

Sometimes, while we’re developing one business, we see an opportunity to start another. Currently, we’re juggling two companies ourselves. But at some point, you’ve got to set limits on the number of plates you’re spinning, so that you don’t end up sacrificing quantity for quality.

Today, we discuss the right (and wrong) times (and reasons) for starting a second (or third) business while maintaining your current company. With so many ideas and opportunities bouncing around in our heads, we independent business people need to prioritize the ripest fruit — or end up with more than we can handle.

Fortunately, there are ways to decide if your next big idea is really worth pursuing. Certain factors truly justify starting a new business, especially when certain resources can be shared or the products are complementary. It all depends on what you’ve got going now, and where you want to see yourself later. Get the details — Click Play!

Transcript

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0:15.9	Heyo! Welcome to the $100 NBA show because it's more than just finding out why others were successful
0:22.0	It's finding out how you will be successful. That's why we deliver daily 10 minute business lessons for the real world.
0:22.6	I'm your host, your coach, your teacher, Omar's at home.
0:26.5	I'm also the co-founder of the $100 MBA, a complete business training and community online
0:31.3	over at 100 MBABA.net.
0:34.0	And in today's lesson you will learn,
0:36.0	should you start a second business on the side?
0:39.0	As entrepreneurs, we get great ideas all the time.
0:43.7	We come up with ways to solve all kinds of problems.
0:46.7	But does that mean you should turn that solution into a business when you're already
0:51.1	running one?
0:52.1	I'm sure that many of you have thought about
0:53.8	starting a second business, the third business, even a fourth business,
0:57.3	while you're running your current business or businesses. I certainly have and
1:02.0	have done it. So in today's lesson I'll be sharing with you
1:05.0	when is a good time when is it right to start a second business or an
1:10.5	additional business let's say and when is it a bad idea?
1:14.0	Let's get into it. Let's get down to business.
1:17.0	Today's episode of the 100 R&B8 brought you by Long Tail Pro, a step-by-step system
1:26.4	to help you quickly discover thousands of profitable easy-to-rank keywords for almost any niche.
1:32.1	Visit Long Tail Pro.com slash MBA
1:35.0	and use coupon code MBA for a free trial
	...

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