The biggest challenge of most small businesses is having side chicks before their marriages are well established.
-I have seen this thousands of times,one has a small business and that small business start to grow well.
-It is generating income and they are some excess cashflows
-Instead of reinvesting and expanding that business to reach new heights you see people start to open new side hustles on the side.
-This is done with little to no accounting for these cash flows being moved from the main business.
-I will just give you an example of one guy he was running a very good school,money started coming instead of building his own school,he kept renting it and someone had said to him there is money in farming.
-Whoever is telling people there is money in farming without any farming experience should be arrested ๐๐
-Anyway fast forward like in any marriage,if one starts to focus on side chicks,the main marriage will fail.
-He started spending a lot of time at the farm,the idea was a school can operate without me at which he forgot that he was micro managing it without proper parallel structures!
-My take is focus on the main business and reinvest in it until you know there is nothing more that can be done and start building another one.
-When you start building another one make sure you have clear records of how much money has been spent from the main business,offer that as a loan!
Stay faithful,stop looking for side chicks!Focus!