Scientific wealth building secrets! - #7 - Diversification
This is a series of articles about studying general scientific ideas to create a wealth building system that works according to the laws of the Universe. These concepts come from observing our environment. Scientists have discovered that the laws of nature follow certain patterns. Some physical laws seem to be present everywhere, from the tiny atoms to the enormous stars. Everything on the physical realm tends to be influenced by these laws, therefore they can be applied to your businesses too as you will see in just a few minutes. The whole series contain the following articles . . .
7. Diversification Diversification is everywhere in nature. Life is not about one thing. It is about many things. It is as the saying goes “variety is the spice of life.” On this article I will share information with you about diversification and how you can apply this concept to your business. There is a great deal of diversification in the Universe. Planets are different from each other. The same with stars and galaxies. They differ in shape, size, color, internal structure, etc. There is a diversified uniformity in the Universe. For example, living things contain carbon as one of their components. A cell is the basic smallest structural unit of life. There are many common similitudes like these among living organisms, but their all differ in size, color, specie, habitat, life span, physical strength and many other aspects. The same happens with businesses. If you focus on developing only one product, you may be very successful at it, but most businesses try to market at least a few products. People love to have options. For example all cars have a similar basic structure: a vehicle useful for transportation with four wheels, an engine, a windshield, etc. What makes an individual choose a car instead of another is the details. Often small details make a big difference. The same happens with the products or services that a business can offer to its clients. When your clients come to you, they may not like a product that you show them just because of its color. By making small changes and giving people more options you can increase your sales. Another way to apply diversification to business is to set up multiple streams of income. You can do this by increasing the sources of income within your business. Also you can start new businesses and make different investments. As the saying goes: “Don’t put all your eggs in one basket.” Also “diversification is the only free lunch.” The idea is to not diversify all at once, but rather, one step at a time. If you try to do everything at the same time you may get stuck. A good idea would be to start a business and diversify your streams of income within that business. It could be for example to offer different products and services to your clients, so they have options to choose. Then, once the business becomes profitable, you can diversify and set up another stream of income and another and another, etc. Investments are a good option too. Many investments allow you to receive passive income, so you don’t have to be constantly working to earn the money. The idea of diversification is very important. If you put all your efforts into one project only, you are taking a risk. Multiple streams of income are specially good to back up unexpected money problems when they appear out of nowhere. That’s why many wealthy people have different businesses instead of only one. As you can see, these are just basic examples of how you can apply scientific laws to your businesses and become more profitable. On this article I shared information with you about diversification. You can learn about other physical laws and their applications to wealth building techniques from my other articles. EasyWebRiches © 2006
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