How does she manage multiple businesses?
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Here are some insights from trusted experts on managing multiple businesses:
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Gary Vaynerchuk emphasizes the importance of emotional intelligence and treating employees like family. He suggests that successful scaling requires strong relationships with direct reports and a mindset shift where the CEO works for the employees, not the other way around. This approach fosters a family business culture, which is crucial for managing and scaling multiple businesses effectively 1 2.
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Cal Newport advises separating tasks and having distinct quarterly plans for each business to ensure clarity and balance. He recommends being cautious of taking on too many demands and suggests potentially moving one of the businesses to a hobby status if it causes too much stress or logistical issues. This strategy helps maintain focus and reduces context switching, which is critical for cognitive efficiency 3 4 5.
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Daniel Priestley talks about the concept of owning multiple businesses within a larger structure, similar to how big corporations operate. Having multiple ventures allows for better problem-solving and delegation, which can prevent the owner from being overwhelmed by issues that could be handled by different teams. However, he also highlights the importance of reputation management and the potential stress if multiple problems arise simultaneously 6.
These experts suggest key strategies like emotional intelligence, well-structured planning, task delegation, and maintaining a healthy balance to manage multiple businesses successfully.
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