If you've been around for a while or even if you're still young, the cycle of business boom and business busts is a familiar one. We've seen established companies who have been in business for decades shut their doors as well as internet startups who take the industry by storm and then just fade away.
How many times have we witnessed a business enter the marketplace and skyrocket to incredible success, only to see them shut their doors in a couple of years. Here today and gone tomorrow. But what causes that to happen? Is it the product or service itself, is it the changing marketplace or is it just poor management by the company?
Fact is,, it could be any one of those factors that causes their demise, but there's something else that's the real culprit for many companies that go under. They are a one trick pony.
So it seems pretty clear, if one of the main reasons companies fail is because they are not diversified and rely solely on one product or service, then that is something you want to avoid.
Companies have learned the hard way what can happen if you rely on just one product or service to drive all of your revenue. People's preferences change as does the marketplace. Remember 'Blockbuster'? It wasn't too long ago that they were dominating the movie rental industry and now they are gone. The marketplace changed and they didn't adapt and couldn't compete.
Think about all the companies today that have multiple streams of income. Apple has the Mac computer, but they also have the iphone, ipad and itunes to name just a few. Microsoft has Windows, but they also have Outlook, Powerpoint and Excel. They even have the hand in broadcast television. Facebook owns Instagram and Google owns Youtube. Are you beginning to see a trend here?
Here's a perfect example in the Consumer Goods industry. One of the leaders is Procter & Gamble and take a look at just a sample of their product line...
Pretty impressive right. Most people don't even realize that all those products are part of one company. They have all their bases covered and if the marketplace were to change for one of their products and sales were to nosedive, it wouldn't have nearly the same devastating effect it would if that was their one and only product.
In reality the online marketplace is no different from brick & mortar or any of those huge computer and internet companies we just mentioned. Don't ever think you just discovered a product that's the 'Goose That Laid The Golden Egg' because geese don't live forever and their egg producing years are limited.
So the real question is not whether you should diversify your online business, but rather how to do it. Sure you can scour the internet searching for various products and services that you can market as an affiliate, but that can be very time consuming and a real hassle. It' can also be challenging to determine which products are best and which companies are solid.
That really isn't the most appealing way to create multiple streams of income online. The ideal situation would be one that offered online entrepreneurs a way to market the best products from the top people in the industry, all in one place. Well that exact business model is available right now.
Here's the real kicker. Not only are you given top-notch products to promote, but you are also given the sales funnel to market those products too! There has never been anything like it before and please don't confuse this with Clickbank or JvZoo. Not even close.
Tony T Blum has been marketing online for nearly 10 years and has been involved in the home business industry for over 20 years. He is a former CPA and financial advisor and continues to do sports play-by-play for college and high school football and basketball.