Marketing School | Digital Marketing | Online Marketing

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