Don’t Put All Your Eggs In One Basket

NEWS.com.au:

Owning your own business is all very well but don’t put all your eggs in one basket in case times get tough and your main income source goes belly-up.

You really don’t know what hard work is until you work for yourself.

There are no paid holidays, no days off, no sickies and often no pay cheque until your business starts to take off and there’s something left over once all the bills are paid.

After a while, you might employ some staff, start to earn a regular profit and be faced with the dilemma of where to invest your hard-earned dollars.

In its infancy, most business owners will reinvest all their cash back into their own enterprise to maintain control of their own destiny.

But diversification is the key to any great entrepreneur and it is important to avoid putting all your eggs in the one basket in case it goes belly-up.