Arman Arzumanyan became a serial entrepreneur starting from his early teens, venturing into e-commerce and building a highly successful SaaS startup with his partners. Arzumanyan is currently navigating the metaverse and Web3.0, while making astute investments in cryptocurrencies and NFTs.
How does he juggle between diverse business endeavors with such ease and efficiency? Here are four ways that Arman Arzumanyan recommends will help you stay on track while running multiple ventures.
Find Common Ground between Different Projects
Although you may be faced with the prospect of running two or more completely divergent businesses or projects simultaneously, Arman suggests that the sales and marketing strategies and online platforms and tools to manage these businesses may not be very different.
As long as you can meld some of the tools, processes, and formats together, it will eliminate duplication of effort and save you time and cost. If you want to do more with less, think creatively and standardize the business processes and strategies wherever possible.
Prioritize the Mission-Critical Tasks
Arman recalls that whenever he would seize a new business opportunity, while the previous ventures were still work-in-progress, he would face naysayers that would tell him it is impossible to succeed this way. However, he has demonstrated how you can make it possible through his accomplishments.
Arman Arzumanyan says that the secret is to prioritize the business matters that matter the most instead of sweating the small stuff. Embrace the most challenging and most important tasks first while delegating, outsourcing, or de-prioritizing the minor things. That will invariably put you in a strong position and complete control of the speed and direction of your overall enterprise.
Use Digital Tools to Stay Organized
In Arman Arzumanyan’s experience, you can simplify your daily work schedules and team management with basic digital tools. He suggests to choose a good cloud-based app for your business to-do lists that you can access from anywhere, any time, and across any connected device. These apps provide ways to help you prioritize your worklists across multiple ventures and even color-code them project-wise.
This lets you stay aware of every business aspect at a given time and quickly identify any matters that need your urgent attention. Arman says that he also uses time-tracker tools that continually evaluate how much time he is spending on a particular venture and alert him if he is unknowingly ignoring some area of business over another.
Create a System for Periodic Reports and Analytics
Things will never go perfectly according to plan, whether you are running a single business or many businesses at once. Therefore, Arman Arzumanyan emphasizes that you must create a system to receive periodic reports and data analytics that gauge performance and allow you to identify deviations and make a timely course correction.
With a constant focus on customer feedback, sales revenues, costs, and profitability in each business venture, you can continue to calibrate your operational strategies, maintain accountability, and stay in sync with your business goals and targets.