I have a client who decided to be more than an entrepreneur. He decided to open three businesses simultaneously, so is now a multipreneur.
Granted, the three businesses are all tied together so there is some vertical integration, but each is a standalone operation that he is looking to grow beyond the initial steps.
The client will be utilizing a single physical space for all of the businesses and will more than likely be utilizing the same software for the bookkeeping and management of the businesses.
The client will be the bank, financing the operation while working with partners. So a finance company was established to protect the investment.
The second company is a contracting company, the client has skills in this area and so has one of its partners; so all of the construction work will be done under this general contractor company. There will be written loans from the finance company to cover the costs of materials and sub-contractors. Based on the skillset they are also looking for other clients for whom to do work for as well.
The third company is an LLC which will be the owner of the properties that are being bought. The down payments will come from loans from the finance company and mortgages will be coming from banking relationships that have been established.
The team that was pulled together is what makes this multipreneur interesting, as mentioned, one of the partners has a general contractor background, and another is a realtor tasked with the finding of property deals and a break on the commissions on the sales.
The administrative functions all fall into place allowing this to potentially provide great synergy moving forward.
So this multipreneur has a strong chance of succeeding based on structure and planning. Since this is not an original idea, there is an underlying proof of concept since this model has been implemented previously by others. To achieve success, control and supervision need to be implemented along with good decisions and tight budgeting need to be made.