The $100 MBA Show: Episode MBA616 – Q&A Weekends: How to Juggle Two Businesses/Projects at Once

Release Date: May 7, 2016
Host: Omar Zenhom

Introduction

In Episode MBA616 of The $100 MBA Show, host Omar Zenhom addresses a pivotal question submitted by a listener named Vernon: "How do you juggle two businesses/projects at once?" Drawing from his extensive experience spanning over two decades in entrepreneurship, Omar delves into practical strategies and insights to effectively manage multiple ventures without compromising on quality or personal well-being.

Balancing Multiple Ventures

1. Establishing a Robust Schedule

Omar emphasizes the importance of a well-structured schedule as the foundation for managing multiple projects. He states:

"It's all about having a really good schedule, being very disciplined about the time you dedicate to everything."
(02:00)

By meticulously organizing his time, Omar ensures that each business receives the necessary attention. For instance, he outlines specific days dedicated to:

• The $100 MBA Show: Prioritized for daily podcast production, with episodes batched and recorded in bulk to maintain consistency and allow for flexibility, such as taking days off or going on vacation.

• Webinar Ninja: Allocated separate days for collaborating with developers, engaging with the customer service team, and managing software development and releases.

2. Time Blocking and Discipline

Omar advocates for time blocking, a technique where specific chunks of time are reserved for particular tasks or projects. This method helps in:

• Preventing Overlap: By assigning distinct time slots, he avoids the chaos of multitasking and ensures focused productivity.

• Maintaining Consistency: Regularly updating and adhering to his calendar minimizes the chances of neglecting any venture.

He advises:

"If you dedicate a certain amount of time for each project, block it out of your calendar like an appointment, you have to do it."
(04:30)

3. Managing Additional Commitments

When additional projects or opportunities arise—such as speaking engagements, interviews, or collaborations—Omar recommends:

• Carving Out Specific Time Blocks: Allocating dedicated time once a week for interviews or new projects to prevent them from disrupting the primary business operations.

• Negotiating Timelines: Communicating with collaborators to adjust schedules, ensuring that existing commitments are not adversely affected.

"When I took on a new project, I made sure there was time in my calendar to do the things I have to do my part of the project."
(05:30)

Key Strategies for Managing Multiple Projects

1. Batch Production

By recording multiple podcast episodes in one session, Omar creates a buffer that allows him to take breaks without halting the show's production. This strategy enhances efficiency and reduces the daily pressure of content creation.

"I batch episodes. I don't record one episode a day. I actually record a whole bunch in one sitting."
(03:15)

2. Delegation and Teamwork

Understanding the limitations of personal bandwidth, Omar leverages his team to handle post-production tasks. By delegating responsibilities, he ensures that each business operates smoothly without requiring his constant intervention.

"I could pass it on to post-production to our producer, Nicole, and she can work with our editor and everybody else involved."
(03:50)

3. Personal Engagement

Omar makes it a point to personally engage with his members, fostering a strong community and ensuring that customer service remains a priority. This hands-on approach builds trust and loyalty among his user base.

"I like to email our members personally. So I dedicate time for that on certain days of the week."
(04:10)

4. Flexibility and Adaptability

In the dynamic landscape of entrepreneurship, Omar highlights the need to remain adaptable. Whether it's adjusting schedules for unforeseen events or re-evaluating priorities based on project demands, flexibility is key to sustaining multiple ventures.

"If anything's going to suffer, then you need to think twice."
(05:40)

Personal Insights and Advice

1. Discipline Over Excitement

Omar candidly shares that juggling multiple projects isn't inherently fun; it requires strict discipline and hard work. He differentiates between the entrepreneurial desire for freedom and the necessity of structured effort during the growth phase of a business.

"That's what real entrepreneurs do. They get disciplined and they stick to a schedule."
(05:05)

2. Assessing Personal Capacity

Before taking on additional projects, Omar advises entrepreneurs to evaluate their own capacity. Understanding whether one thrives on variety or prefers focusing on a single venture is crucial in preventing burnout and ensuring sustained productivity.

"Do you like that variety or does that give you anxiety? You know, you don't have to do something you don't want to."
(07:15)

3. Focus on Impactful Projects

When faced with multiple opportunities, Omar recommends prioritizing projects where one's involvement can make the most significant impact. This approach ensures that efforts are directed towards endeavors that drive substantial progress and value.

"I would go with the one that I feel I can add most value in the project I feel I can add or make the most impact in."
(07:35)

4. Starting Small

For those embarking on their entrepreneurial journey, Omar suggests concentrating on a single project initially. This focus allows for deep immersion and mastery before expanding into additional ventures.

"If you're getting started, if your first couple years in entrepreneurship focus on one project, go all in and dedicate the time."
(06:10)

Conclusion

Omar Zenhom's insights in Episode MBA616 provide a comprehensive roadmap for entrepreneurs looking to manage multiple businesses or projects effectively. Central to his approach is strategic time management, discipline, and prioritization. By implementing these strategies, entrepreneurs can navigate the complexities of juggling multiple ventures while maintaining quality and personal well-being.

Omar closes the episode by reiterating the importance of focusing on what truly matters and ensuring that each project receives the attention it deserves:

"You can just do one thing and do it well. Alright, guys, I'll check you in tomorrow's episode. I'll see you then. Take care."
(10:30)

Looking Ahead

Omar invites listeners to submit their questions for future Q&A episodes and previews upcoming content, including:

• Next Week's Question: April asks, "Do I need an SEO expert to work on my website?"

• Monday's Episode: Featuring guest teacher Tom Hunt, who will discuss "How to Hire the Ultimate Virtual Assistant."

Listeners are encouraged to subscribe to ensure they don't miss valuable business insights in forthcoming episodes.

For more actionable business lessons and to join the community, visit The $100 MBA Show.