Comments on: A different way to diversify …

By: Can you diversify a business? « How to Make 7 Million in 7 Years™

Can you diversify a business? « How to Make 7 Million in 7 Years™ — Tue, 04 Nov 2008 09:41:11 +0000

[...] if you want to blaze the business path … hang about, because Dustbusterz has a GREAT question for you: Tell me here ,if I am wrong in my assessment. I believe diversifying(i.e. buying or [...]

By: AJC

AJC — Wed, 10 Sep 2008 00:37:06 +0000

@ Dustbusterz – There are some great reasons TO enter into multiple businesses and great reasons NOT to (that I will go into in an upcming post); diversification was never on my list … until now

By: dustbusterz

dustbusterz — Tue, 09 Sep 2008 22:50:29 +0000

Tell me here ,if I am wrong in my assessment. I believe diversifying(i.e. buying or starting many businesses) is better than having all your money tied into just 1 business.
Currently, we own about 5 small businesses, which bring in small amounts of cash. Our intent here is that we will build these businesses up gradually over a set time frame , and at the same time, continue to buy or build more businesses to add to our income stream.
By having these several businesses, we somewhat mitigate future problems if say,1 of these operations should suddenly be stricken with cancer and we are unable to restructure and save it.
So having 10 smaller businesses (1 goes bankrupt or gets sold) it is less of a drain on your income stream as having all your cash in only 1 or 2 bigger businesses.

By: AJC

AJC — Mon, 25 Aug 2008 22:45:33 +0000

@ Scott – Voila, indeed

By: Scott

Scott — Mon, 25 Aug 2008 19:21:25 +0000

Great post! That’s what I have my mind on right now, purchase the building my practice is in, continue to use as much of my practice’s cashflow as possible to continue making other commercial real-estate purchases, rent them out to businesses, repeat, let them simmer and viola!