Why You Should Diversify Your Revenue | Ep. #1474

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   Leave Some Feedback:   What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review.   Connect with Us:    Neilpatel.com Quick Sprout  Growth Everywhere Single Grain Twitter @neilpatel  Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.