Contributor Zechariah Newman discusses 4 ways to easily operate more than one business/location in the article “4 Tips to Help You Run Multiple Businesses,” featured on Entrepreneur’s website.
“I run several businesses, and I have run them very poorly. But, I have also run them successfully. When I started as an entrepreneur, I had one restaurant; now I have two restaurants and am an online presence where I coach, write and speak,” writes Newman in the article. “When you grow across multiple platforms, you have to change how you operate as an owner.”
Newman continues in the article by offering four simple strategies to running multiple businesses:
- Have a notepad. Newman explains that although there are apps that allow you to take notes and write down to do lists, having a pen and paper in hand might help you remember what you have to do more clearly. And, notepads help you stay more organized and focused. “Focus and intensity are required to have momentum and with more than one business you can lose momentum which is the lifeblood of business,” he continues in the article. “When your mind wants to go elsewhere, write it down and refocus on what [you’re] working on now.”
- Define business locations. Working in different physical locations can help your memory and also help you maintain mental boundaries. “We remember by location much better due to microevolution,” states Newman in the article. “Get in the habit of working on businesses in different places, even if it’s on the computer at various parts of your house.” Or if you prefer a more hands-on approach, make sure to check in on your multiple car care sites instead of just focusing on one location.
- Develop a solid team. The more your business grows, the more you need to spend developing and managing your team. Having a solid team is critical to your success as a multisite owner. Your team will be at the front-lines. It’s imperative to keep them interested and happy at work.
- Know your numbers and have a report system in place. You must know what numbers matter most to your business’ success and conduct reports weekly (at minimum). This measurement will enhance your business’ performance by clearly showing any improvements or setbacks. “In my pizza parlors, I have reports done weekly showing gross and net sales, customer counts, food cost, labor and out-the-door averages,” shares Newman in the article. “All these numbers will help or hurt my business and can make a significant impact fast. Get reports on the numbers that matter [to] your [businesses] to maintain control.”
You can read the entire article on easy ways to grow your business here.