Everyone is different. I have friends who can build and run multiple businesses at once. However, I have never understood how they can do it. I find building one business challenging enough and would be completely overwhelmed with multiple ones.
Covid poses an interesting twist to this dilemma. The Pandemic hit businesses completely differently and randomly. Some industries were destroyed, and others flourished for no rhyme or reason. It makes me wonder if we would be better off having interests in very different businesses – to hedge our bets.
I own two businesses - an event production firm and an event rental company. My industry was gutted and both my husband and I ran these businesses. Since COVID we have changed our perspective, we have started a new business outside our industry and I’m focused on creating multiple streams of passive income . Diversifying our incomes in every way possible. I’m taking the effort I put into my company and applying it to creating a portfolio of income streams that can withstand.