December 5, 2016

[Video] Can I build 2 businesses at the same time? – Bobby’s Minute, ep. 71

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Of course you can! If you’re Elon Musk. If not, I have another suggestion.

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It’s a difficult question to remember, so i’m going to read it: I am building 2 businesses right now and I’m pretty involved in both products. What next? Can I build both of them at the same time? While we all want to think that we are Elon Musk and we can build at the same time Tesla and SpaceX, the truth is we’re not. Or at least 99.999% of us aren’t telling Elon Musk and even he is able to do that because he has a great team around him at  all these companies that can cover the day-to-day operations of the business, so that he doesn’t become a bottleneck and he focuses on the larger visions of the companies.

So, if you’re not Elon Musk (if you are: Hi! How are you? Great job with the with SpaceX!). If you are a millionaire and you can pay a great team around you, that’s again good. You may be able to pull it off, but if you’re not and if the companies are early stage companies, don’t try to do it.

If both companies depend on you, try to understand in which one you can add the most value and become the CEO of that company and for the other one, find a good CEO and get in the board to help them, but focus on just one company, because in the early stages, chances are that you’re going to go down with both companies compared to the chances that you’re going to survive.

So don’t try to do it all. Focus on one of them, find a good CEO for the other one and that’s it. FOCUS!

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