View Full Version : Business dilemma
17-01-2003, 05:40 PM
Anyone out there ever started two new business simultaneously?
I am working on starting an online shop for men clothing accessories and out of the blues a friend offered partnership in a new recruitment agency. The offer is tempting with less startup cost compared to mine, but on the other hand I am just about getting there with my business idea. I am thinking of going ahead with both at the same time.
Who's being there before and what advise would you give and most importantly, why?
17-01-2003, 06:36 PM
One step at a time.
From my experience starting your own business takes a lot of time, effort and motivation. You have to give it 100% commitment.
Go with the idea you are most interested in as your heart has to be in it too.
Im sure you will make the right desicion.
19-01-2003, 07:31 PM
Thank you Elena.
I would just like to add:
Keep being helpful as you are and you will not lack help when you need it, 'cos what you give goes round and round and comes back to you.
With a helpful attitude there is no limit to your altitude.
See you at the top.
I started 2 at once and also had my Network Marketing buisiness already up and running..Bearing in mind the N.M buisiness is part time and runs itself the other two were totally hands on and i can tell you its damn hard work..Remember that you cannot totally commit 100% to either so you have to use your time wisely.
I should imagine you will not need to be spending to much time with the online buisiness so maybe thats a bonus..Think carefully on what you expect to get in return for your efforts,if one's not worth the effort,then dont bother..
All the best of luck.
20-01-2003, 09:41 PM
if I was you Id spend about a few months concentrating on ONE business analysing the market, constantly going over and adding costs and benefits, do a SWOT analysis, dont just look at the short term future, look at the long term, ie. entry into the EURO, inflation, taxes, gdp, consumer confidence, wars in IRAQ. One of the most important factors to be considered is the competition, but also can your idea create demand, is the good elastic and inelastic, are there substitutes, is it a luxury good etc.
Basically stick with one idea but thorughly go over in your mind what your getting into. Entrepreneurs such as Branson, Stanley Kalms etc took months preparing before they started their businesses, but once they did start they created mass demand.
23-01-2003, 07:25 PM
Hi Desoldya and Choc,
Thank you so much for your contributions, they are food for thoughts and I hope to make the best decision.
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