What is Diversification? In this video I continue with my story on the subject of diversifying income streams.
I tell how we went on to build a solid diversified business with residual income only to then again be tempted by immediate gratification and short term thinking.
If you have not read my first two posts on this subject please read them to understand the context of the story.
I tell my story on what is diversification now for a couple of reasons.
1) to illustrate why I believe diversification is so important and secondly I believe we do not have to make our own mistakes we can learn from other peoples “learning experiences”. I hope you can learn from mine.
In my next and final post in this series I will explain how I came to understand the importance of multiple sources of income, as well as the importance of leverage and residual income. Whether you are a traditional business owner, network or internet marketer or employee this is important.