Balancing Multiple Businesses: An Industry Perspective

By Hayley Mears

Managing a single business demands significant energy and focus, however more and more of us are juggling multiple ventures at any one time. There are side hustles, projects, volunteer gigs, and even being a social media moderator feels like another part-time job. So many of us are wearing way more than just one hat. There are some incredible pros and some shattering cons when it comes to diversifying how many roles, jobs and projects we take on.

This entrepreneurial dance of having many projects on the hop simultaneously is something I have done my entire career, sometimes it’s a huge success, and other times it’s a huge failure. Both of these experiences just add another layer of knowledge, lessons and experience. Right now, I juggle three different industry projects Six Underground Media - my first baby, a creative agency that services the industry through marketing and branding.

Next is the Cutting Through the Noise Podcast, which I cohost with Stephanie Mason and the new addition to the brand portfolio is Watch This Space (formally known as The Secret Fox Education) in partnership with Mia De Vries. So, yeah, there is a lot going on and I want to share the good, the bad and the VERY REAL.

I can see how this hamster wheel of work could easily turn into burnout. The difference is, at this point in my life, I can see multiple steps ahead. I know how to listen to my body, lean into my intuition and hit pause to recalibrate. One of my favourite quotes is “learn when to rest, not to quit.”

So, what’s the secret? Well, I don’t know, but I know what does work for me and what doesn’t. This also comes from a place of having been at business rock bottom. 18 months ago, things were the HARDEST they have ever been in my time as a business owner. Clients were leaving, retiring, closing and cutting expenses like never before. Hindsight has highlighted that the reason this happened in such a short time frame was because we had government support during the pandemic. It kept businesses afloat and almost gave a false sense of security. But we emerged into a different era (one we were not expecting) and things changed. Lifestyles evolved, spending dropped, travel paused, employment shifted, and this meant that our clients changed. The consumer changed that took a year to really take effect so that we could see and understand the NEW consumer.

Take Immediate Action

One of my approaches that has served me well is always “take immediate action”. If something is starting to head south, don’t wait and watch in the hope that things will get better. If you do that, you’re digging yourself out of a deep hole and not a shallow hole.

Be Okay with The Tough Decisions

Every business has to make decisions at some point that will not be favourable with their team or brand partners. This is OK. The lead-up to making the call is usually much worse than implementing the decision. Once the band-aid is ripped off you have entered the next chapter.

Take Calculated Risks

If you see an opportunity, but it doesn’t quite fit the space you have to work with, get creative. Think about reformatting, rebuilding or segmenting the offering to make it fit with your framework. For example,

Not Every Business Action Needs to Have a Financial ROI

Over two years ago, when we launched the Cutting Through the Noise Podcast, with my partner Stephanie Mason, we knew that this would not be a money spinner. It was a platform for discussion and building relationships. The ROI in the relationships we have made has completely exceeded any expectations we could have had.

We have been able to shine a light on exciting new businesses that the industry had not yet discovered, and we were about to create new brand partnerships in the adjacent space with our primary businesses. The added bonus was this podcast brings value to so many hairdressers but is also great PR for us personally and keynote speakers and educators.

Return to Skills You Haven’t Been Using.

Another example of this is my return to education. I was so blessed to have the opportunity to work with my incredible friend Mia De Vries to rebrand The Secret Fox Education to Watch This Space. I now have the opportunity to dive back into the skill of a guest artist/host and be an industryfacing profile in the world of education. This is a great way to utilise existing skills and improve on that.

Pros of Diversifying Your Time and Business Offerings

1. Financial Security: Having multiple revenue streams can provide a safety net. If one venture faces temporary setbacks, others can sustain your financial stability.

2. Opportunities for Innovation: Engaging in various industries can open up cross-pollination of ideas, leading to innovative solutions and unique perspectives that keep your enterprises ahead of the curve.

3. Expanded Network: Each business comes with its own network of clients, partners, and collaborators, broadening your reach and opportunities for personal and professional growth.

4. Satisfaction and Fulfilment: Running multiple businesses allows you to explore diverse interests and passions, which can be profoundly rewarding.

Cons of Spreading Your Efforts Across Multiple Ventures

1. Time Management Challenges: With limited hours in the day, managing multiple priorities can lead to ineffective time management and stress.

2. Risk of Burnout: Constantly juggling multiple responsibilities can lead to physical and mental exhaustion. The signs are all too familiar—body aches, an adrenalinefueled rush from task to task, loud sighs of frustration, and deteriorating self-care habits.

3. Diluted Focus and Quality: Without adequate focus, the quality and growth potential of each business can suffer as attention becomes scattered.

4. Increased Complexity: More businesses mean more decisions to make, more crises to manage, and intensified logistical challenges.

The key to management is the constant evolution and assessment of what is working and what is not. Your life will forever be a long to-do list that you never get to the end of. You need to be ok with that and realise as an entrepreneur there is always more to do and more to learn.

If you have questions or feedback, I would love to hear from you. Please reach out

Hayley Mears

@sixundergroundmedia @cuttingthroughthenoise.podcast