Is monogamy in business is a positive or negative factor for entrepreneurs? Here's a guest blog to find out...

I don't know about you, but I have heard the question posed many times about whether or not you can successfully develop more than one home business at a time. I can't ever remember an expert or a person who has a vested interest in one particular company saying that it was a good idea to develop multiple companies at one time.

Now to a point, I can understand their logic. It's really not good to be double minded, but can you do it without being double minded? You don't want to confuse your prospects, but if you could do it without confusing your prospects, would it be a good idea?

I say without hesitation and without one little speck of doubt, yes.  Here is my justification, I never want to get blindsided and have the decision of one person or even a few people and/or changing times to have me scrambling to replace all of my income.

It was not that long ago that typewriters were all the rage. You could spend hundreds on a typewriter and get all of the fancy bells and whistles, so if you owned a typewriter company a few years ago, you probably could have lived like a king.  Today most kids have probably have never even seen a typewriter. As computers became more and more popular, if you did not have the foresight to get out and change your typewriter company to something else, then today you would probably be living under a bridge somewhere.

That was an example of an entire industry that is now basically extinct. A couple of years back, I worked in an industry that is still thriving today. The company that I worked for was one of the most respected companies in the world at that time, but today, just a few short years later,  it does not even exist and the former CEO is in jail.

I won't name the company, but the industry is telecommunications. It was a horrible feeling watching the news and seeing where a lot of people had lost their life savings and were now desperate at a time when they should have been taking it easy.

For these and many other reasons, I would say never ever depend on just one company. Always have a back up plan for your back up plan so that any one company going under will not devastate your finances.

Jeff Reed is an online blogger and business coach. He gives tips on how to succeed in this competitive industry and he provides free prescription discount cards to those in need. His blog, http://jeffandsharonreed.com is dedicated to providing tips and multiple opportunities to succeed.

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