How to Make More Money With Less Risk

September 17, 2007

Are you one of those part-time business owners who worries about the risk of going into business full-time? Well, there are many ways to reduce risk. And it is possible to make more money with less risk by building business baskets. This means, creating multiple streams of income, so you don’t become reliant on just one source.

Some people might tell you that building baskets is the wrong way to go, but several highly successful business owners have proved them wrong. In fact, Felix Dennis, the multi-millionaire said he would still be broke if he hadn’t been in the business of building baskets. And he added that sometimes, you need to build several baskets until you find one that is amazingly profitable.

The important thing to remember is that after you’ve created one basket, you need to have it up and running and bringing in a profit, before you begin building the next basket.

Can you think of ideas for building baskets that don’t require a lot of time and effort?




Further Reading

Building Baskets To Create Multiple Streams of Income.
Multiple Streams of Income
How Radar Can Improve Your Business

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Posted by cathlawson | Filed Under Ideas, Running a Business 

Comments

2 Responses to “How to Make More Money With Less Risk”

  1. Asako on September 17th, 2007 7:41 am

    I also believe in building business baskets.

    Only challenge I am facing is as I recently quit my job, so I have not gotten the first money generating machine for me to start building the next one, yet. I am trying a few things, but still try and error for me. (Hence, I had to drag another person into my blog, as he is already into the second and third eggs after the first one)

    I think the first path is the most difficult part. I look forward to learning more from the Success Passcode.

  2. cathlawson on September 18th, 2007 11:29 pm
    Hi Asako - the first basket is definitely the most difficult. But, it will be worth it eventually.

    Those people who build more than 20 baskets before they make it must be very persistent.

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