December 16th, 2010, 09:30 PM
Si it better to start a new business or spend that work on your existing one?
What I mean is I know people that have several businesses and some that have only one.
I always think of new businesses but never start it because I think if I put that work into my main business it will pay off better.
What do you think?
December 20th, 2010, 12:36 AM
It totally depends on the new venture, and how related it is to what the existing company does.
As am example, if your company name is ABC Cleaning Products, and you are looking to sell a new line of eco-friendly dog food, then you should probably think about a different company, or at least a different trading name to go under. But, if the new product is a new type of degreaser, then keep it under the same company banner to improve your product line.
January 27th, 2011, 10:30 AM
Is your main venture something you enjoy doing? if so, then you'll put more time and effort into it.
I tend to believe if its something you enjoy, and you would do as a hobby, then no need to look further.
That being said, it doesn't mean you can't have more than one venture. I definately wouldn't spend your time and energy in anything that didn't interest you.
Also there is a certain "satisfaction" that comes along with meeting milestones in your business. If you hop from one thing to another, you may not hit those milestones "Ever".