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Session 46: Diversifying Revenue Streams - Protecting Yourself From Dependency
Welcome back! Imagine having a single customer who accounts for 80% of your revenue - and then losing them overnight. That’s the danger of depending on one stream of income. Diversification protects your business and opens new opportunities.
Why Diversification Matters
Markets shift. Customers change. Technology evolves. By building multiple streams of revenue, you protect yourself from volatility and create resilience. Diversification doesn’t just reduce risk - it multiplies potential.
A Real-World Picture
Amazon began as an online bookstore. Today, it earns billions from cloud computing (AWS), streaming, advertising, and logistics. That diversification is why Amazon remains one of the most powerful companies in the world.
Humor Break
Putting all your income in one stream is like living in a one-room house. Cozy until the roof leaks.
Action Step for You
Write down one new way your business could generate revenue. It could be a subscription, a new product line, or a service add-on. Then take one small step toward testing it this quarter.
Closing
Diversification is your safety net - and your growth engine. Next, we’ll cover Financial Sustainability and Scalability - building a business that lasts.
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