When your business reaches a certain level of success, it’s easy to start looking at other ventures to build. As it was when you started your first successful enterprise, that spark to build something new is always going to be there for entrepreneurs. But…is it a wise move to start something new…or should you put even more effort into expanding what you already have?
In Episode 17 of The Business Equation Podcast, host Nick Bogacz covers the topic of building on your current ventures versus starting a brand new business in detail. If you have the personnel to keep your present business running efficiently, accepting the challenge of starting something new may be in the cards. However, have you truly maximized all the streams of revenue your present business can deliver? There is a lot to think about when faced with this decision, and today’s podcast will help guide you in the right direction.
You will learn:
- How to judge what you know vs. what you don’t know
- Why you should expand your current business as much as possible before branching out
- Why adding as many income streams as possible to your business is a key component to your success
- Why you should always ask yourself, “What do you really want from your business?” before EVER making the decision to start a new venture
- Why it’s important to “ride the horse that got you there” until you can ride it no more
Nick is also a published author! Click here to check out his book, The Pizza Equation: Slicing Up How to Run a Successful Pizza Enterprise.
MUSIC CREDIT: Theme music for The Business Equation Podcast – Never Forget by Gareth Johnson & Chris Bussey, via www.audionetwork.com
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