How many ideas can I work on at one time?
What a fantastic question. And I’m so glad you asked! (Wish people were sending in questions like all the big shots out there – maybe one day.)
It’s a question I have been asking myself all day. Actually, it’s a question I’ve been asking myself all year. Real talk.
I am currently co-running a business that I founded with some friends and I love it. It’s a blast. People love us, and we are making a difference in peoples lives. Pretty much checks all the boxes of a great early-stage venture.
Here’s the catch – I started this business to help out a friend – not because (insert business function here) is my passion.
To put it in layman’s terms (terms that I can understand), it’s not scratching my itch. Ever had a chigger bite? Yeah, that’s the kind of itch we are talking about. Not one of those junior varsity mosquito bites.
Sorry, getting back to the point.
Is it okay that I start working on other businesses or ideas? Can I work on multiple businesses all at once?
I’ve thought about this a lot and here’s my answer:
Yes, probably.
But at what expense?
Well, my current business will naturally get less of my attention which is almost certainly NOT good for business. And, my new ventures will not get my entire attention because I am dragging a lot of baggage into these new ideas/ventures.
Kinda seems like I am painting a clear picture of the right decision here, right?
If you’ve been following this.. (site?) at all, you already know that I do not claim to have all the answers for you. If you want the answers, go somewhere else. Trust me, there are literally thousands of people claiming to be “Business experts”. But, if you want true, real, and raw experiences straight from the mouth (fingers?) of someone who has yet to crack the code, you’re in the right place.
Based on what we’ve discussed here, it seems like my advice would be not to start multiple businesses and instead just focus on one at a time. This is probably good advice and it’s probably advice that a lot of successful entrepreneurs have followed. But it’s not advice that I am taking myself. To understand that, I must first share with you my current plate.
Here’s my current plate:
- 1 Day Job – remote, flexible, good pay, not exciting.
- 1 Early-stage Venture – 14 months old, +75K revenue, 4 employees, learned a TON.
- 1 App Idea – 3 weeks in, Wire-framing stage, very on the fence still, massive, massive upside. My moonshot.
- 1 Family Venture – Healthcare related, product build stage, innovative, financially promising.
- 1 Blog/Personal Site – Not my best effort, but still pretty fun.
What I hope you will take away from reviewing my plate is that
- Not everyone starts a business and makes a million dollars in their first year. It takes time for most. Sorry folks, I am not the Snapchat guy.
- If you have the blessing/curse of an aggressive case of shiny object syndrome coupled with a highly fertile idea garden growing in your head, well, join the club. I don’t think we are sitting at the cool kid’s table though (FYI).
I have a friend who gave his daughter (Yes, his daughter, people) the following advice: “Baby, sleep with as many guys as you can, that’s how you find out what you like!”
While I have yet to embrace this advice into my own moral code and life practice, the jury is still out for me, I do often consider it’s application to the topic of this article. Assuming you are in a position in life with flexibility (you have time), stability (day job or sitting on some cash), and minimal responsibility (no kids, no wife, no dependents), why the hell not try everything? How else will you find out what you like?!
See what I did there?
If I get hit by a bus tomorrow and get the chance to look back on my life and assess how I did, I can promise you that I will not regret having tried many different ideas and tinkered with many different products/services/businesses. On the other hand, if I were still at my first job trying to put away enough money to go start a business someday, well… Let’s just say I’m glad I won’t be in that position.