💡Should you have one business or two?
You’re a multi-passionate, multi-talented creative entrepreneur. You can’t stick to doing just one thing.
You have 2 products or services. They’re different from each other, though maybe vaguely linked, and can be sold independently from one another or together. Both are created by you from your passions and capitalising on your talent & skill set.
But, you’re not sure if you should sell them both under one business, or if you should split them and have 2 businesses.
It’s a problem I had to solve in my own creative business. You can guess at what I decided on, because I have 2 businesses: I’m not Emma Veiga-Malta the brand designer AND creative business mentor. I have Bespoke Backdrops & Branding and I have The Creative Business Hub. Two very separate businesses.
There’s a reason why I separated my businesses, which you will understand further on.
This conundrum is one I help both my design clients with and the members in my business mentoring program.
My branding clients often want help naming their business, and arranging their products and services in a way that makes sense to their marketplace.
My members struggle with the same issues: many are multi-passionate and multi-talented. Should they sell everything under the one business name so it’s easy for people to buy from them? Or should they set up 2 separate business entities so not to confuse anyone?
To make your decision, there are a couple of questions you need to ask yourself:
👉 1. Who are the clients for your products & services?
If they are the same clientele then maybe they need to stay under one business. If they are serving very different people with divergent problems, needs and aspirations, requiring different messaging and marketing efforts, then separate them.
I chose to have 2 businesses because the client base for each is vastly different. The problems and solutions I offer in each business are not the same. Which means that the marketing messaging are very different. The services I offer are different too; design and mentoring.
Of course, there can be overlaps in clients. Some of my design clients became members of The Creative Business Hub. And some of my members have hired me to design for them.
👉 2. Are your products & services complementary or contrasting?
Consider these 3 creative business owners:
One is an artist, painting large canvases and creating hand-crafted jewellery. The second is a healer, with a Reiki practice but also producing music and audio for meditations. The third is a graphic designer with a side hustle selling bespoke aromatherapy blends.
What should these 3 creative business owners do – work under one business name or create 2 separate businesses?
The artist & jewellery maker is selling physical creative products; their customers are buying the beautiful fruits of the artist’s imagination. It doesn’t matter if they are drawn to their canvases or earrings. People just love her style, aesthetic, her vision and want to own a piece of that. Her products & services are complementary, so one business works perfectly.
The healer uses meditation, music & reiki as tools in his tool kit to help clients reach certain health or mental outcomes. The combination of any of the healer’s tools will bring well-being benefits to the client, which is why this is best left as one business, not two.
However, the graphic designer who also blends aromatherapy oils isn’t selling to the same type of client at all. A graphic design client is looking for vastly different outcomes than an aromatherapy client. Their products and services are not complementary, so it makes sense to split the business in two.
Of course it’s not always so black and white.
We’d need to dig a bit further into your specifics, but this a good place to start your decision making from. I hope you find some answers and opened your eyes to new possibilities.
Message me or leave your questions below. Happy to help!
Or grab a copy of my free video training ‘Creative Rockstar Makeover’ where I’ll help you with pricing, boundary setting, client attraction and money mindset. 👇