A diversified income. Can help you to stand the test of time. Many people did not know this in business. Did you know that if you have $1,000,000 and you decide not to invest everything into one single business, but he decides to diversify and do other things with it, it’s lessening your chances of getting bankrupt, provided that you put the money in a very good projects all around.
Let’s say you have $1,000,000 now in the account. I want to do a particular project. Fine.
A little principle states the 8020 rule, so you might decide to invest 20% in the real business and see how it goes. Then take it step by step to the business group. The remaining 80% of your money still divided into four.
Look for two more order business that is sustainable. And you think that they’re very good, Invest 20% into each. One of them and have your time then that means you are keeping 40 business still kept somewhere as a savings to help in case the first business, the one the original 20% that we are onto in the parental principle, the original business you want to do you have a 40% resources to still help it to boost it back up in case.
Anything happening in the future, this is one of the most healthiest week to do business that you can never find.
But these days, immediately people get a funding for a business, invest everything into the business and the business crash, so goes everything that is invested. An idea and if is a flat that was rented or employee that you got in a very high amount of money by the time the business and there will be nothing less in that business to sell an argument for bankruptcy, the business will just fizzle out. Out of the world, just like that. This is not the right way to do business. Always stick to the parental principle of 80-20.
