the startups.com platform about startups.comCheck out the new Startups.com - A Comprehensive Startup University
Education
Planning
Mentors
Funding
Customers
Assistants
Clarity
Categories
Business
Sales & Marketing
Funding
Product & Design
Technology
Skills & Management
Industries
Other
Business
Career Advice
Branding
Financial Consulting
Customer Engagement
Strategy
Sectors
Getting Started
Human Resources
Business Development
Legal
Other
Sales & Marketing
Social Media Marketing
Search Engine Optimization
Public Relations
Branding
Publishing
Inbound Marketing
Email Marketing
Copywriting
Growth Strategy
Search Engine Marketing
Sales & Lead Generation
Advertising
Other
Funding
Crowdfunding
Kickstarter
Venture Capital
Finance
Bootstrapping
Nonprofit
Other
Product & Design
Identity
User Experience
Lean Startup
Product Management
Metrics & Analytics
Other
Technology
WordPress
Software Development
Mobile
Ruby
CRM
Innovation
Cloud
Other
Skills & Management
Productivity
Entrepreneurship
Public Speaking
Leadership
Coaching
Other
Industries
SaaS
E-commerce
Education
Real Estate
Restaurant & Retail
Marketplaces
Nonprofit
Other
Dashboard
Browse Search
Answers
Calls
Inbox
Sign Up Log In

Loading...

Share Answer

Menu
Start Ups: Starting two businesses at once. Is it recommended for a new entrepreneur?
LG
LG
Liam Gooding, CEO of Trakio, Customer Analytics Platform answered:

In my personal experience, whenever I've tried to run multiple businesses, at least one or all of them have failed (failed meaning either zero or very little revenue)

Looking at my friends (95% of which are tech entrepreneurs or lifestyle business owners) any of them who have tried multiple businesses at once, either one or all of them have failed.

There's usually a period where you think "Hey this is possible, it's working great!" and you see a bit of growth or a bit of traction, but it's only 2 years in that you look back and realised that you have 2 projects turning over £50k each, when you could have had a single project turning over £500k

Now looking at your current situation from what you've told us:

1) Starting a business with a cofounder who is as committed as you is an order of magnitude better than starting something on your own

2) As a non-technical entrepreneur, I would advise staying away from the onlne business until you have either a technical cofounder or at least £100k in your back pocket in disposable investment

3) Does the clothing business excite you? I'm thinking not, as when something really excites you, you shouldn't even be considering anything else. So maybe neither of these projects are right for you.

My advice: go and get a job working for the company you wish you had created. Find a company where the product, industry, culture, brand... everything is something you love and wish you had done yourself. Work there for however long it takes to find something that creates a burning passion inside of you, and provides you with the right network, connections, experiences (and maybe cofounders or investors) to get it started.

My biggest regret in my entrepreneurial career is that I didn't spend any time looking at how other entrepreneurs had done it. I just read about it and dove in, and spent many, many hungry years making all the same mistakes that everyone before me had already made!

Talk to Liam Upvote • Share
•••
Share Report

Answer URL

Share Question

  • Share on Twitter
  • Share on LinkedIn
  • Share on Facebook
  • Share on Google+
  • Share by email
About
  • How it Works
  • Success Stories
Experts
  • Become an Expert
  • Find an Expert
Answers
  • Ask a Question
  • Recent Answers
Support
  • Help
  • Terms of Service
Follow

the startups.com platform

Startups Education
Startup Planning
Access Mentors
Secure Funding
Reach Customers
Virtual Assistants

Copyright © 2025 Startups.com. All rights reserved.