Episode #1474
Why You Should Diversify Your Revenue
August 15, 2020

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!

 

Links Mentioned in Today’s Episode:

 

LegalZoom

Andrew Wilkinson

Tiny Capital

 

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