[caption id="attachment_4194" align="aligncenter" width="300" caption="Multitasking (Photo: examiner.com)"][/caption]

The preaching from morning to evening in all corners of the nation hits the message. Develop the entrepreneurial mindset. So in our thousands we have taken the cue and joined the lucrative path, some of us leaving monthly secure paying jobs as one of our writers, Ndinda notes in her article.

However, I have observed this idea of people adopting the art of  'Jack of all trade's. Many entrepreneurs want to take up several lines of business engagements to 'diversify' their sources of income. It is a world of survival for the fittest anyway, isn't it? That is all okay, but is everybody capable of managing these engagements at one go?

It could be a way of securing the future and the other businesses like in the case of seasonal fluctuating businesses but there are several things one needs to consider when committing themselves to more than one undertaking.

1. Cost Effects- Look at these costs in terms of how one business is impacting negatively on another trying to get it through its financial difficulties.

2. Expertise - In most cases when you want to run several entities that are not related, you must be having an idea of what it takes to do so. However, you might not posses sufficient expertise in all the four or five fields you venture into. This could force you at some point to hire expert services, or let go of that investment.

3. Opportunity Cost - You always need to calculate the cost of letting go of one entity to focus on the other. You will be surprised how low the margin could be.

4. Competition - Your attention will be thoroughly divided and this could be dangerous for you when it comes to beating the competition for each sphere of the business.

If you are considering running more than one business, the following points may help your decision: (Courtesy Word Constructions)

• One very seasonal business reduces the workload and stress for much of the year
• Businesses that compliment each other allow easier cross promotion and development
• Having a manager for at least one business gives you diversity and opportunity without the increased workload and juggling of running multiple businesses yourself.
• It is generally easier to focus on starting only one business at a time. Once it is established, you can consider starting another.

So when you decide to 'Jack of all trades', just be cautious lest you become master of not a single one of them.