Ensuring the success of one business is challenging enough, so what happens when you are in charge of more than one business with multiple headquarters? Since graduating from college, business owner Guy Bennallack has owned 52 companies and specialized in construction.
Q: What are some of the issues you face managing multiple businesses?
A: As an owner, you want to be involved in the daily operations of your company, but that is not always possible. With employees at multiple locations, there is too much to track. Add to that the amount of paperwork and bookkeeping per business and you can understand how one person could not possibly handle it alone.
Q: How do you resolve these issues?
A: The answer to these problems lies in whom you hire to assist you in the management of your disparate interests. A highly-specialized, trained, and motivated management team can alleviate the stresses of running multiple businesses and contribute to diversity in problem solving and other issues.
Q: What is the key to effective management of the managers?
A: A strong leader, in business or otherwise, knows how to delegate responsibilities. While you may want to be involved with everything, that can be a lot of balls to juggle, making it easy for any or all of them to fall to the ground. So it is important to know your people and what they can do, so you can give them the correct direction.
Guy Bennallack is the CEO of HBR Management, Inc., in Las Vegas. He owns and operates multiple businesses related to the construction industry.