In episode #1474, we discuss why you should think about diversifying your revenue. If you rely on a single revenue stream, you risk getting into trouble when the economy takes an unfavorable turn. Tune in to hear when the best time for diversification is!
TIME-STAMPED SHOW NOTES:
- [00:25] Today’s topic: Why You Should Diversify Your Revenue.
- [00:49] The problem of having only one revenue stream.
- [01:08] If you are in an agency, think about how you can expand your services.
- [01:39] LegalZoom could charge people for setting up their corporation and renewing it.
- [02:00] Don’t diversify your revenue stream until you begin making some good money.
- [02:24] A drop shipping business is a great way to launch or start.
- [02:47] Consider the people in the restaurant business who put all their eggs in one basket.
- [03:15] It is easy to get into panic mode if your only income stream is hampered.
- [03:31] Think about what your existing customers can also be buying from you.
- [03:52] Take one step at a time and don’t compare yourself to the billionaires.
- [04:38] To stay updated with events and learn more about our mastermind, go to the Marketing School site for more information or text us on 310-349-3785!
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