Should You Pursue One or More Businesses?
In the course of developing a small or home business, many opportunities may come about. They’re not necessarily all at the same time.
- Some business ideas grow out of a hobby.
- Some may be a venture you explore with a partner
- Some may be a new idea with low initial expenditure
- Others may develop over the years as your circumstances change
Do you think an entrepreneur should follow one path of business regardless of circumstances, pursue it and hope you’ll experience success?
Do you think an entrepreneur should be aware of changing times and circumstances and be willing to change as necessary?
(Image: sxc.hu)
3 Comments
I think the answer to this question pretty much depends upon whether the businesses are in any way related or if they will end up pulling the business owner in too many directions. If there is some kind of core competency, like freelance writing or accounting, that all the services are built around, then having multiple related businesses to serve various clients can be an asset allowing you to win more business than a more narrow focus.
Thanks, Shawn, for stopping by Small Business Boomers and giving your input. I like your ideas. I agree that there are spin-offs that can result from a core business, something like I’ve done with my writing business evolving into speaking, workshops, scrapbooking and activities centering around the topics in my books.
[...] a post at Small Business Boomers, Should You Pursue One or More Businesses, I wrote about small or home business owners being involved in a number of businesses, some at the [...]