How to start two companies?!

[irishjoe]

Hi,

I am in a bit of a dilemma. I have been working on a project for the past six months which until recently I believed had died due to being ahead of the market. My business partner in this project recently submitted our proposal to a VC firm who are seriously interested in talking to us about funding it.

In addition for the past 4 months I have been working on another idea with another business partner. This one is net based and we have brought it to the funding stage also. I have pitched the concept and business proposition around and it has been received favourably.

It seems that bought projects are going to get funded by separate VCs.
My question is this, even though both ideas were mine initially I have been working with two separate business partners on the projects whom have been exemplary. What standing do I have to be able to remain an entity in both companies? Ie. a non exec director in one and executive in another? What options do I have open to me? Surely given the ease in which a net business is set up these days someone must have come across a similiar situation, if so I would be very grateful for some advice in this matter as I am perplexed as to what to do. I dont want to make a decision to go with one and not the other because they are completely non-competitive but with very satisfactory financial projections.

Anyways any advice would be well appreciated.
Thanks

[RLorenzen]

Why not be an executive in both of them? Unless your investors or partners don't want you being active in multiple companies at once, I do not see why you couldn't be CEO of both (or whatever titles you have arranged with the partners).

[hugh009]

PERFECT example of the Serial Entrepreneur where you work both projects! Learn from the book I recommended by Jake "Body by Jake" Steinfeld. GREAT read for you.

Hugh

[irishjoe]

Thanks everyone for your advice, has anyone come across the "problem" before personally and how was it received?

[RLorenzen]

Thanks everyone for your advice, has anyone come across the "problem" before personally and how was it received?

I hold executive positions in several companies. As long as you don't mind giving all the time required to run multiple businesses at once, you won't have a problem.