There are various benefits of running distinct business’s simultaneously, says multipreneur Ram Goel
There’s always a cushion of financial security in owning multiple ventures as in the event of failure of one, another can take over
An entrepreneur who manages many businesses is often asked these questions as to why he is trying to accumulate more than he can handle or why he is trying to distract himself instead of focusing on one business or why he is trying to seek opportunities outside his domain. Answers to such questions are only known to a multipreneur who is aware of the various benefits that tag along with running simultaneous ventures at a time. Let’s find out the answers from a serial entrepreneur who has strived hard to build his businesses and has learned it the hard way. He sheds light on the benefits of owning more than one business as he has been handling multiple ones at a time and the results have been exceptional.
Ram Goel runs three ventures from different sectors like aluminum, food & beverages, and hosiery and has grown each to exponential levels with his accurate business management skills. He says that starting multiple ventures helps one expand his network to such an extent that the contacts or associates from previous businesses play a major role in advancing the new establishment to some extent. According to Ram, running more than one business at a time gives you financial security in the event of failure of anyone and that’s one of the major reasons one should opt for more than one at a time. Furthermore, expertise in different fields also enhances your experience in different sectors.
“Every time you start a new venture, you try not to repeat the mistakes you did in the past venture, and that helps you to refrain from doing things which are harmful for the smooth operation of the current business. A lot of unavoidable mistakes can be controlled if you have experience running multiple ventures and that helps a lot according to me,” says Ram who himself and been there, done that. Starting multiple businesses is every bit as exciting but there are risks, disappointments, and loads of stress also associated with it which one should be aware of and tread their path carefully to succeed in all.