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Just like in your investment portfolio, diversification is important for your business too. Before we dive right into the ways you can diversify your business, let’s define what diversification really is. In terms of investing, diversification means ensuring that you spread your capital amongst different investments. The reason to do this is so that your success is not contingent on one revenue stream. The same is true for diversification with your business. Being dependent on only one revenue source can put your business at risk. There are many concrete reasons that speak to the benefits of diversification, such as: Reducing the […]