Multiple Streams of Income Are Vital for Small Business Survival by Karon Thackston
I’ve seen it happen too many times. Online businesspeople get tunnel vision and – before you know it – all their revenue is coming from a single source.
That’s a dangerous place to find yourself!
Years ago, millions of website owners found all their traffic dried up overnight thanks to a Google update. Just recently, those who had built their businesses on a foundation of Facebook advertising got a major shock when Facebook’s algorithm changed.
If more than 50% of your revenue comes from one place (selling on Amazon, running ads on a single site, a specific group of customers, etc.) it’s time to branch out!
This 11-minute video will give you some easy ideas for diversifying your business. You’ll be able to draw income from a variety of sources and create a more stable business that will still generate revenue even if one channel fails.
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