True Meaning of Diversification
We would rather give ourselves into chance rather than plan for the possibility of failure. I say this with the thought in front of my mind regarding our dependence on what we have been led to as “safety”. Are we truly safe?
My reference is to Financial Diversification of Income. We have been so ingrained to thinking we have to fully focus on the job (or career) that we are engaged in. Keep that tunnel vision and some day, you will make it (or will you)?
I was involved with a Network Marketing company that taught income diversification “their way”. They laid out their compensation plan and described the “7 ways you get paid” and they called that income diversification!!!!
If this is your plan, ask yourself this question to test the strength of your diversification:
If your product or company goes away, do you lose all 7 of those income streams?
If all of these income streams are tied to one product, service or company, then you do not have a solid plan for Income Diversification.
VIRTUAL CURRENCY, AN INCOME STREAM
In the article, Income Diversification With Virtual Currency, I wrote the following:
This brings me back around to the program that I am associated with and that is Compumatrix. Recently, we have embarked on a journey that involves working with Bitcoin. Since we have been on a parallel course, it only makes sense to work together.
I mention this because the Virtual Currency associated with Compumatrix is called Compuceeds. So, why are we talking about Bitcoin? Have you heard of the Forex Market? Just as in the trade between various Governmental currencies in the Forex Market, there is also trade among the Virtual Currencies. It just so happens that currently, Bitcoin is the most recognized of this market.
Beyond this fact, we have to look beyond this. Founder of Compumatrix, Henry James Banayat has often commented his desire for the membership of Compumatrix to use this business as a stepping stone to funding and starting other business ventures.
What plans do you have to diversify your income? Maybe you have done the same thing all your working life. Remember this:
If you keep doing the same thing, you will keep getting the same results!
If the results you are getting sufficient for your needs, then this is a great plan for you. However, as the economy changes, will you even be able to hold onto this plan?