I have a business where I sell paintings via auction houses & eBay and making about 1000 -2000 $ per month. But since 2 years I started my little digital agency for restaurants. Which made me about 500 $ per month for 2 years and then my client went off .. I spend soo much energy learning sales skills, door to door etc. Watched hours of courses. Right now in 2021: I have 2 Realtor Clients whom I could not deliver the results because they didn't last longer than for 1 month. And most of the time is going to strategy calls or sending cold outreach following up, I also had some strategy calls with galleries because I am trying to try this niche out, but duo to lack of results and case studies, I couldn't close yet. But I am currently workin on it. My question to you : What should I do ? Should I only focus on one business, as it should be ? Because the art business is not taking much time. But the art business needs capital and I invested soo much time in figuring out which cold emails are getting attention in English that's why I want to get English clients as well and German ones too since I live in Austria but it makes my life much harder that way. What would you do if you look back at your life ? What I am missing ? Or what can I improve ?
If you have time to manage both businesses simultaneously, then do it. Try to find out the reason why your cooperation with a clients are so short and what can be done better. I believe you don't have to quit your digital agency business, try different approaches, new tactics of work
I think you should focus on building your business as it gives you good money and you are using your skills also.
Hey there, can understand your dilemma, if one business (art) is working well and not taking up two much of you time, then to diversify would be a good thing, ie not putting all your eggs into the one basket so to speak. Also agree with NicoleW regarding your clients. At the end you are the best judge however as you would like some suggestions going forward you are most welcome to try the FREE Business Analysis Tool. Basically answer a bunch of questions (on both or any other business you wish to do) and it will give you a breakdown of what the business looks like (even if it's a start up). Once you do this it will give you a handful of tips and recommendation going forward. It may provide suggestions you haven't thought of already. Regarding your question about what you would do looking back at your life I would say it is better to start something that is already working than start something from scratch that nobody wants. So doing diligent research first before undertaking anything and spending any money on it, or as you say time as well. Make making sure to look at all possible avenues available to yourself before you take the plunge would also have been some advice to myself if I was to be looking back I hope this is of some help. Best of luck Harvey
If you are making $1K-$2K per month "without much work" you need to ask yourself: if you put in more work, could you double those revenues? Triple them? What would you need to make for it to be enough for you? My inclination is to focus on what is working best for you now and get that as successful as you need to be satisfied. Once you have that, then you can think about diversification into another business.
If you have the time to run two enterprises at the same time, go for it. Try to figure out why your customer relationships are so brief and what you can do to improve them. I feel you do not need to close your digital firm; instead, attempt fresh methods and work strategies.
I would say that you should stick to selling paintings via eBay since it already has given you some results and helped you earn some money, although you didn't put too much effort into it. So, instead of trying different things, you should focus on one niche and try to work it out. Think about the strategy of how to improve things, change something in your approach, add some new elements, attract new customers, and so on. If you work a bit harder, you could make an even higher profit from it.
Wow, such an interesting story of yours. I am so proud of such people who want to do something significant in this world. My advice for you is to choose something that your heart loves. If you currently require money and you understand that the first business brings more money, then you should wait until you will be able to do what you really want, until you will receive a financial independence. I mean "independence" - to live the way you like don't paying attention to financials at all. Of course, all of us would like to do something that we really like in this life, but, anyway we have to suffer and have to sacrifice our time in order to do what we like. If you understand that the business which doesn't bring you solid sums of money but it's considered to be something that you really like can be prosperous in future (and it can if you believe in it) - then do it. Don't pay attention to funds.