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HOW I OWN 26 BUSINESSES WITHOUT GOING CRAZY

HOW I OWN 26 BUSINESSES WITHOUT GOING CRAZY

Introduction

Owning multiple businesses simultaneously may seem like a daunting and overwhelming task, but with the right approach, it can be a manageable and successful endeavor. This article explores how the author managed to own 26 companies without losing their sanity. By studying successful billionaires like Musk, Bezos, Buffet, Munger, Zell, and Cuban, the author learned valuable insights and developed a better process for managing multiple businesses effectively.

Hiring: The Key to Success

One of the critical factors in managing multiple businesses successfully is hiring the right talent. No amount of excellent processes and strategies can compensate for bad hiring decisions. Recognizing the importance of hiring, the author emphasizes the need to trust your instincts when it comes to evaluating talent. If someone shows you who they are and it's not aligning with your company's goals and values, it's essential to make swift decisions and let them go. Hiring the right people significantly contributes to the overall success and smooth operation of all the businesses under your ownership.

Focusing on One Key Metric

Managing multiple businesses can quickly become overwhelming if you try to monitor and control every aspect of each company. To streamline operations and ensure maximum efficiency, the author recommends assigning each team or CEO within your businesses a single, specific metric to focus on. This clear and laser-focused approach allows everyone involved to concentrate on the most critical goal or indicator of success. For example, in their media business, the author instructs the CEO to focus solely on gaining 300,000 newsletter subscribers. This singular focus ensures clarity of purpose and prevents distractions from diluting efforts and resources.

Embracing a One-Page Culture

A one-page culture, inspired by Amazon's practices, can be highly effective in managing multiple businesses simultaneously. This concept involves establishing a set of guidelines and rules that serve as the foundation for decision-making, operations, and overall company culture. By clearly defining and communicating these principles, everyone within the organization understands what is expected of them and how they should conduct themselves. This streamlined approach fosters consistency, promotes alignment, and simplifies decision-making across all businesses.

Keywords

Multi-business ownership, Hiring, Talent Management, Focused Metrics, One-Page Culture, Simplicity, Decision-making, Business Management Techniques

FAQs

Q1: How did the author manage to own 26 businesses?

The author's ownership of 26 businesses was primarily driven by a desire for variety and overcoming boredom. They studied successful billionaires and learned from their processes, eventually developing their own approach to manage multiple businesses effectively.

Q2: What is the importance of hiring in managing multiple businesses?

Hiring the right talent is crucial for success when owning multiple businesses. It is essential to identify individuals who align with the company's goals and values to ensure smooth operations and prevent potential issues in the future.

Q3: What is a one-page culture?

A one-page culture refers to a set of guidelines and rules that serve as the foundation for decision-making, operations, and company culture. This streamlined approach ensures consistency, alignment, and simplifies decision-making across all businesses.