Eenie, Meenie

By: Eva Gregory

Diversification - a word familiar to most successful entrepreneurs; is a rule of thumb for not being caught by surprise. To find many things to invest money in, or different types of services to perform, so that if the bottom falls out of one market, project, or client all is not lost. It is the foundation for “multiple streams of income," a phrase that has become very popular in the last several years as more and more people search for avenues to make money and build financial security. An example of multiple streams of income is someone who is an actor, a director, a producer, and a writer. Always having something to fall back on when something else may not pan out. Diversity is an awesome business plan that has kept many people from going bankrupt, not just the wealthy, but small business owners as well. Can you think of someone that has a small business who performs various tasks? What about a virtual assistant that performs book keeping, tax preparation, and customer service for clients? By offering multiple services that will appeal to various clients, it allows income to flow into the business from various sources, so that no one area will dry up leaving the business owner without a single source of revenue.

Diversity works well for business, but can the same principle apply to personal life? Absolutely! Business is not the only road that can become a little stale and predictable.

It’s a fresh source of goals, ideas, and challenges that keep wonderful new things flowing in all factions of life. Generating multiple streams of ideas for enriching life is as limitless as you allow. Would you like to pursue a new job opportunity or a new field of study? What about several within the same field that will make you a more valued employee, or a couple of fields of study that will make you more marketable? The beauty of successful stream selection is finding something that you truly enjoy, because things fall into place almost seamlessly when they are a natural fit. So tune into you – your needs, desires, and visions, while deciding on your next stream.

Like most aspects of life, when diversifying, success comes that much quicker when others are asked for their assistance and input. Use your passion as a foundation for assembling a team to help you achieve your goal, and always be willing to act in kind for someone else. It may be their idea that you’ve been asked to collaborate on that brings you oodles of success. Whether it’s your stream or theirs, teamwork may be the added ingredient that will make the stream flow like a mighty river.

So, the next time you’re feeling a bit boxed in and would like to stretch your wings – remember to look at all of your options and to not just settle on one - diversify. Pursue one for now, build it to success, and then move on to the next, and the next, and the next. It is the one true way to always stay on top—by being prepared for a worse case scenario and never having all of your eggs in one basket. So start thinking about what new business you’d like to branch into, the new ideas that will take you on a different path, and the new goals that will bring you closer to your passion. In real estate it may all be about location, but in life and business it’s all about diversity, diversityFree Articles, diversity.

Motivation
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