Have you ever thought about running more than one business? In this Expert Insight Interview, Ryan Kugler discusses the concept of a layered company. Ryan Kugler is the President of three companies – A5 Events, Ideal Content marketing company, and The Plan B wholesale business.
The interview discusses:
- Having three companies
- Managing three companies
- The Trifecta effect
Having three businesses might be time-consuming and challenging at times, but it also means that you have three sources of revenue. If one company is down with sales at the moment, there are other two that work well. Companies can be in different industries and have different names. For instance, an event company that organizes non-profit races, a marketing company that makes high-end marketing material, and a wholesale company that buys old inventory.
How to Manage Three Companies?
Even though you are managing three different companies, the process is the same for all. You invest in them and make sure that they do well. In the morning, you read emails for all three companies. When it comes to meetings and business calls, you learn to shift your mind to the specific one. A lot has to do with prioritizing things. For example, if the event company has some big event on Saturday night, the focus on Friday will be on getting everything done for the event. What brings the most revenue is the primary concern at that moment.
In a layered business structure, the same employees work for all companies. For instance, a person who deals with logistics will do the same job no matter whether he or she ships water bottles, luggage, or brochures. But still, working for three different companies allows for a change in what would usually be routine work.
When looking for a job in a layered company, people usually make the mistake of saying that they like to focus on only one thing. People who are good with numbers will be good at calculating any cost. What is needed instead are organizational skills and the ability to handle the high traffic volume.
The Trifecta Effect
Scoring the trifecta, in this case, refers to when all three companies work with the same client. Thus, doing an event, selling marketing material, and buying old inventory from the same client is an excellent way to maximize the reach and the revenues.
However, sometimes all companies require work to be done at the same time. The key, in that case, is making quick decisions and delegating. Making any decision, even one that later shows up as a bad one is still better than making no decision. And lastly, having a support team that you can trust to get things done is extremely valuable as well.
John is the Amazon bestselling author of Winning the Battle for Sales: Lessons on Closing Every Deal from the World’s Greatest Military Victories and Social Upheaval: How to Win at Social Selling. A globally acknowledged Sales & Marketing thought leader, speaker, and strategist. He is CSMO at Pipeliner CRM. In his spare time, John is an avid Martial Artist.