Revenue Diversification (Entrepreneurial Finances) - Definition, Examples, Advice | Bolder Money

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Definition

Creating several ways for the business to earn money. Spreading income sources makes the company less dependent on one product or service.

What to consider

Align growth plans with market trends.
Set measurable and realistic targets.
Regularly reassess strategies to adapt to changes.

Real world scenarios

A small business in Austin plans to open two new locations after solidifying its brand locally.
An entrepreneur invests in digital marketing to drive online growth.
A startup in San Francisco targets new market segments to scale operations.

Related terms

Entrepreneurial Finances

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