MBA1016 Should You Start a 2nd Business on the Side?

We get it. Entrepreneurship is addictive.

Sometimes, while we’re developing one business, we see an opportunity to start another. Currently, we’re juggling two companies ourselves. But at some point, you’ve got to set limits on the number of plates you’re spinning, so that you don’t end up sacrificing quantity for quality.

Today, we discuss the right (and wrong) times (and reasons) for starting a second (or third) business while maintaining your current company. With so many ideas and opportunities bouncing around in our heads, we independent business people need to prioritize the ripest fruit — or end up with more than we can handle.

Fortunately, there are ways to decide if your next big idea is really worth pursuing. Certain factors truly justify starting a new business, especially when certain resources can be shared or the products are complementary. It all depends on what you’ve got going now, and where you want to see yourself later. Get the details — Click Play!

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