Diversity Leads to Stability

Guest post by: Holly Murdoch
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The Quick Connection - By Holly Murdoch

Having one way to obtain a new customer, using only one vendor, having one assistant – if you are doing this in your business, it can be disaster. And I would even suggest that the reason why your business might be struggling is due to one the above reasons.

Your one vendor raised prices limiting your profit. Your one newspaper ad is not working. Your one networking meeting that you go to is no longer full and people are not referring. Your one big client is not paying on time. Your one assistant is fighting with her husband and cannot focus to stay on track.

Do you understand the problem with having just one?

Diversity leads to stability! At FreshStart Telephone, when Sprint kept raising our rates, I looked for other products to sell to my clients, such as cellular and calling cards using multiple vendors. When my biggest competitor advertised on the same radio station offering more services for less money, I relied on my other 83 ways to bring in a new customer. I made sure that only 10 percent of my business came from customers who spent more than $1,000 per month so that if they did not pay, I still had the other 90 percent paying for my cash flow. I always had two assistants – Rose and Lisa – so that if one was sick, I had a backup.

Check your business today to make sure that you are not relying on just ONE of anything!

written for w2wlink by Richelle Shaw

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About the Author: Holly Murdoch

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