Economy
How to Effectively Manage Multiple Businesses Same Time
By Anton van Heerden
“What do you want to be when you grow up?” It’s a question that most of us heard by the time we were four years-old, with the expectation that the answer would be a single profession or career.
But times are changing fast and many people are now rejecting the idea that they should choose to define themselves by only one job for life.
Many young professionals and entrepreneurs are embracing the idea of pursuing multiple professional interests in search of better earning power or more personal satisfaction.
Becoming an accountant doesn’t mean that you need to give up your dream of running a restaurant on the side; taking on a job as sales rep doesn’t stop you from earning some cash pursuing a passion such as freelance writing.
Serial entrepreneurs who move from one business to the next are becoming more common; so are entrepreneurs who run more than one business at once.
Sage research shows that 94 percent of young entrepreneurs in Nigeria and 82 percent in South Africa expect to start more than one business in their lifetime. The most common reason for wanting to do so is that they believe they have so many great ideas to share with the world.
If you’re an entrepreneur, there are many reasons to start up a second (or third or fourth…) business.
For many people—and this is often true for African entrepreneurs—one business isn’t enough to cover their living expenses. They might need to run a taxi service and offer part-time maths tuition to make ends meet.
It could be that your existing business has hit its maximum growth potential, so you could get better returns by investing your cash and time in a new venture. Or you might want to diversify your income streams to reduce your financial risks.
Alternatively, you may simply want to pursue a passion project that allows you to spend at least part of your workday doing something you love.
Managing multiple business interests can be tricky and demands great discipline.
At the Sage Summit this year, we learnt that there are many well-known people such as Ashton Kutcher who are involved in multiple businesses other than just being an actor. Such business owners whether big or small have one common trait – passion.
Here are a few ideas about how you can juggle multiple business interests:
Bed down your first business before starting another
Starting a new business venture has a major strain on your time and your money for at least a few months. If you try to start two businesses at nearly the same time, one or both will suffer from the lack of focus. Be careful of overcommitting yourself when you have limited capital, time and energy to spend. Ideally, your first business should be stable and providing you with a constant income before you try to launch the next one.
Be choosy
The problem that many entrepreneurs face is not a shortage of (seemingly) good business ideas and opportunities, but an excess of them. Pick your projects carefully and dedicate enough resources to them to give them a good chance of taking off. But also be brave enough to walk away when a side project will not be a success.
Hire a talented team
If you want to run multiple businesses, you’ll need to accept the fact that you’ll need to delegate more of the day to day operations to your team. It’s important to find people who you trust and work well with so that you can be comfortable leaving them to get on with it while you’re busy elsewhere. It can work well to share skills across your businesses and work with the same external consultants.
Get advice about how to structure your businesses
When you decide to diversify, you’ll need to look at the right structure for your different businesses. It might make sense to simply add your new line of business to an existing company, or to treat it as an associate, or to set it up as a completely new company. Discuss the pros and cons with your financial and legal advisors, with a view to minimising risk and optimising cost efficiencies.
Share infrastructure and skills where you can
Don’t double up on skills, services and infrastructure when it isn’t necessary. For example, you might be able to share an IT backbone, receptionist and an office between two or more businesses. As an extension to this thought, if you’re thinking about expanding into a new business or market, why not look at ideas that can leverage off the skills, infrastructure and assets you already have in place?
Be a time management and multitasking master
Use IT systems to save you time—ditch the spreadsheets and use proper accounting and payroll software, for example.
Learn to prioritise: perhaps focus on sales first, then marketing and admin.
Make time first thing in the morning or at the end of the day to take care of admin and email when there is no one else in the office to distract you.
Schedule your time carefully.
Outsource low value tasks or delegate them to juniors.
Closing words
Take South African serial entrepreneur Shezi Ntuthuko for example, who says that being an entrepreneur “does become easy after the first 10”. It takes hard work and human sacrifice to turn a dream business idea into a way of life. It is the entrepreneurial spirit that makes the difference all over the world.
By Aduragbemi Omiyale
The profit after tax (PAT) of Lafarge Africa Plc for the first quarter of 2026 more than doubled to N97.95 billion from N48.64 billion in the same period of last year.
This was largely driven by volume-led revenue growth, sustained cost discipline, and prudent financial management.
Analysis of the results filed with the Nigerian Exchange (NGX) Limited, the leading provider of innovative and sustainable building solutions noted that it improved its net sales by 35 per cent year-on-year to N334.88 billion from N248.35 per cent in the corresponding period of 2025, supported by improved volumes, enhanced plant stability, and distribution efficiency, while operating profit went up by 97 per cent to N141 billion.
According to the chief executive of Lafarge Africa, Mr Lolu Alade-Akinyemi, these numbers “reflect continued progress in executing our strategic priorities” and also “underscore our continued focus on delivering sustainable value to our shareholders.”
He stated that sustained revenue growth and continued progress on cost and efficiency initiatives were responsible for the rise in operating profit.
Mr Alade-Akinyemi noted that the company will continue to leverage the industrial and technical expertise of its partner, Huaxin Building Materials Ltd, to further enhance operations and unlock additional efficiency gains.
He stated that the company would continue to focus on disciplined capital deployment and tight cost control in its operations while unlocking opportunities aligned with its growth priorities, explaining that the company’s volume growth, evident in sustained momentum in consumer demand, resulted from easing macroeconomic pressures and reduced global supply chain disruptions.
“We anticipate continued market expansion from Nigeria’s infrastructure and construction sector demand, underpinned by improving economic fundamentals and demand across key segments.
“Within this context, we remain focused on capturing volume growth opportunities across its operating markets, while maintaining disciplined cost optimisation initiatives to safeguard margins amidst global tensions,” he said.
While expressing profound appreciation to customers and loyal stakeholders for their support, he noted that the company would continue to do its best to deliver consistent performance and long-term value to shareholders.
“Our sustainability-led growth model continues to anchor our long-term value creation agenda, supported by the effective execution of our strategic priorities and an unwavering commitment to operational excellence,” he added.
By Adedapo Adesanya
The average price of refilling a 5kg cooking gas cylinder surged 12.60 per cent in March 2026 to N7,655.73 from N6,799.18 in February 2026, according to the latest estimates by the National Bureau of Statistics (NBS).
The NBS disclosed this in its Cooking Gas Price Watch for March, released this week.
It disclosed that on a year-on-year basis, the 5kg price climbed 4.55 per cent from N7,322.49 in March 2025, as Nigerians suffer the ripple effect of the Middle East crisis.
Kaduna had the highest state price at N9,212.21, followed by Lagos at N8,909.73, and Taraba at N8,802.78, while Bauchi recorded the lowest at N6,295.40, with Osun at N6,457.35, and Ondo at N6,598.10.
By zone, the North-West led at N8,137.81, trailed by the North-East at N7,890.53, while the South-South had the lowest at N7,300.95.
For 12.5kg cylinders, prices jumped 15.62 per cent month-on-month to N19,652.83 from N16,997.94 in the previous month, and rose 6.48 per cent year-on-year from N18,456.24.
Nasarawa hit the highest at N23,418.12, followed by Kaduna at N23,030.52, and Akwa Ibom at N22,816.74. Bauchi was lowest at N15,738.50, then Osun at N16,143.38, and Ondo at N16,495.25. The North-West zone averaged at N20,701.66, with the South-East lowest at N18,432.63.
The rise in the price of cooking fuel came as the closure of the Strait of Hormuz affected prices of liquified natural gas (LNG) and over 10 billion cubic feet per day (Bcf/d) of global LNG supplies. Coupled with other issues like volatile exchange rates, global market swings, and high transport costs to northern rural areas, the cost continued to bite.
LPG, priced in US Dollars, faces higher landing costs from Naira devaluation and imported supply reliance.
By Aduragbemi Omiyale
The one-for-three bonus share issue proposed by the board of Nigerian Exchange (NGX) Limited has been approved by shareholders.
The approval was given at the 65th Annual General Meeting (AGM) of the organisation on Wednesday. They also authorised the payment of the proposed N2.00 per share dividend for 2025.
Shareholders applauded the board and management for the group’s performance and strategic direction, urging continued focus on growth and long-term value creation.
They okayed the re-election of Mr Umaru Kwairanga as the chairman, Okechukwu Itanyi as an independent non-executive director, and Mrs Ojinika Olaghere as an independent non-executive director.
Speaking at the event, the president of New Dimension Shareholders Association, Mr Patrick Ajudua, commended the leadership of the firm for delivering a strong financial outcome, noting that the results reflect both improved market conditions and deliberate strategic execution.
“The numbers speak to a business that is gaining strength and direction,” he said.
Similarly, the chairman of the Progressive Shareholders Association of Nigeria, Mr Boniface Okezie, lauded the group’s commitment to innovation and infrastructure development.
“The market is becoming more forward-looking, supported by strong leadership at the Group level. Initiatives around market infrastructure and participation are yielding results, and this is positive for investors,” he noted.
Mr Kwairanga, while addressing investors, appreciated them for their continued support and reaffirmed the board’s commitment to sustainable value delivery, saying, “The progress recorded reflects the strength of the group’s strategy and the performance of its operating businesses.
|As a board, our responsibility is to ensure disciplined oversight, uphold strong governance standards, and position NGX Group to deliver sustainable, long-term value to shareholders.”
The chief executive of NGX Group, Mr Temi Popoola, said, “This next phase is about deepening momentum. Our priority is to scale infrastructure, broaden participation, and unlock new pathways for capital formation.”
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