Multiple Streams of Income
photo credit: darrenstone
A woman recently visited Columbia to see her good friend’ who use to work on wall street up until 4 years ago. They moved back home to open Rodrigo’s own business that started out with five employees. Today Rodrigo’s business has grown to over 300 employees.
In addition to his brokerage business, he owns a few eateries and now has recently gotten into the winery business. This is a classic example of multiple streams of income. If one business is having a bad year, one of the other two that he owns is bound to determined to keep him above water.
This empresario isn’t stopping there – he has investments in other businesses as well and is looking to add more to his “portfolio”. When I asked him how he’s able to juggle so many balls in the air, he credits the book Rich Dad Poor Dad, which he read years ago.
It will definitely be interesting to see how many other new and different business’ that Rodrigo opens up and juggles along with the business’ that he already proudly owns and operates.
Could you manage so many different business at the same time?
Jack Zufelt on March 12th, 2009 3:47 pm
Classic example of solid business strategy. Great blog.
Tony Melvin on March 12th, 2009 7:44 pm
This is very good advice for anyone trying to make it today’s economy. I would advise anyone to try to follow their lead.
Nuno on March 13th, 2009 2:12 pm
Diversification lowers your risk, but it also adds complexity.
Balance is everything!
M!hai @ Freshome.com on March 14th, 2009 3:56 am
Wide diversification is only required when investors do not understand what they are doing. Rather than diversify, wise investors focus and specialize.
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