I’ve had a huge response this week to my messages about diversification and launching new income streams.
Yesterday I shared a very important message, copied below. Read it now if you haven’t yet.
I promised that we were putting the final touches on a meeting next week, to give you a demo of an unbelievable business model that pretty much anybody can add to what you’re already doing.
“The Simple 2-Step 'Hidden-in-Plain-Sight' Side Business That's Paying Regular People $100K to $1 Million+ a Year in Their Spare Time - GUARANTEED!"“
The signup page is ready, and you can sign up here.
It’s next Thursday at 2 central. Hope to see you there.
Below is my message from yesterday. Have a great weekend!
Turns out this is pretty controversial
Wow. Wasn't expecting this level of response and debate!
Well, the apple cart got knocked over.
When you call out a sacred cow, a lot of people are going to fuss.
That’s what happened Monday.
In my message here I said that I don’t agree with the common wisdom that the best path to success is to “focus.”
The idea that you should focus on only one thing in your business just might keep you small.
Yes there are exceptions. But most people making less than $200k a year likely would be well served to put a couple more irons in the fire.
I did it when I was starting. I kept doing it. I still do it today.
There is a concept in business and marketing philosophy which says you can either have a “branded house” or a “house of brands.”
What they’re talking about is product lines / acquisitions / divisions. There are example of large companies that have a number of distinct brands with unique names. Proctor & Gamble for example, has Tide, Gain, Bounty, Tampax, Old Spice, Crest, Vicks, etc, etc. Nobody knows of any product called Proctor & Gamble. This is a house of brands. On the other hand, a branded house would take these various brands and put them all under one name. Like Apple. They have watches, headsets, laptops, tv service, etc, etc…all called Apple.
What does this have to do with us little guys? I bring this up to make a bigger point. Where would these companies be without diversification? Where would they be if they had said “we just need to focus on this one thing we do?” They wouldn’t be anything near what they are today.
So why is it ok for big companies to pursue diversification, multiple product lines, and new initiatives…
…but it’s commonly accepted wisdom that us small businesses need to FOCUS.
I think it’s hogwash.
Now, sure, you can spread yourself too thin if you go too crazy.
But that’s not what I’m suggesting. I am advocating that you put a couple more irons in the fire. Doing so will future proof your business and cause you to increase income.
I practice what I preach. Currently I do consulting work, sell some books on amazon, I do affiliate marketing, I am selling courses / training programs, I am involved in a trucking company, and a farming operation, as well as a couple rental properties. And I keep my eyes open for new opportunities.
I find that MOST of the very successful people I know also have a number of irons in the fire.
I can’t think of any off the top of my head who are only involved in one thing.
All of this has led me to the conclusion that it’s time to kill that sacred cow of focus, and instead embrace the fact that most entrepreneurs succeed by doing a few different things.
If this resonates with you, and you’re interested in bolting on a new income stream…but are looking for some inspiration and/or wondering “what should I do?”…
Here are 2 resources to help you answer that question.
First…
I had a discussion last year with my team, back when I had long hair…on our show Mostly Business, sharing examples of things we are doing to diversify our income streams and build little empires.
Hearing us might spark some ideas for you, and give you a framework for how to arrive at the right thing.
Here’s that:
Second…
There’s one specific type of business that is a perfect addition for a lot of people. It’s under the radar so most aren’t aware it even exists, which makes it even more ideal.
I’ve invited the top expert to share how it works, and show examples of how people are doing it.
I’ve invited the top expert to share how it works, and show examples of how people are doing it.
<< Click here for details and to reserve your spot. >>
It’s imperative in today’s business climate to always be staying on top of what’s new and keeping your mind open to new opportunities. So I recommend you join us. This is a real business that takes effort, not a gimmick…but it’s one that not many people know about. It’s exciting.
I hope these ideas are inspiring you to think differently about your business, and just might spark the thing that takes you to the next level.
Talk to you soon,
Josh
Josh Turner
Multiple times Inc 500 + 5000, WSJ Bestselling author, dad, #LetsGoBlues, top LinkedIn expert, helping small businesses get more leads and clients online, killer of sacred cows.