14th May 2025 - Diversification
Hello, beautiful souls. Welcome to today's takeaway. I had an incident last night, which has reminded me of why it's so important that you have multiple ways of connecting with your audience and multiple ways of basically diversity in your business, all round, diversity in your income streams, diversity in the ways that you market yourself, diversity in the way that you connect with people. Because when one thing changes, if you are only solely relying on that one, whether it be platform or one income source, or one on big contract or whatever it might be, when that comes to an end or when something changes or shifts there or when a problem happens, everything else in your business is affected. So yesterday I had my Facebook account temporarily suspended. It's back now, but there are parts of it, like my monetization as a creator that are still in suspension.
(01:02)
Now, why it was suspended, I don't really understand because the post that they have flagged has absolutely nothing that goes against community standards in it. But that's a whole different thing. The point was, is that I realized that my audience of 6,000 people is primarily there on Facebook. Some of them, like 500 of them follow me also on Instagram. Some of them I do have on my email list, a good portion of those individuals on my email list. But wholly and largely my biggest audience base is my Facebook profile, which means that when I lose, that I lose access to thousands and thousands of potential buyers in my business is important to me. Now that I think about and I already have been, but I need to really double down on this. If you think about expanding and growing my email list, expanding and growing my Instagram account and looking at other audience expansion activities, but where I definitely 100% bring those people over to my email list so that I always have control and access to that audience base.
(02:22)
Now, for me, I don't generally use Facebook as a stream of income. I do am part of their monetization program, but it's not a big focus of mine. But again, it is not a bad focus to have. It's not a bad idea to diversify your income streams between whether it be your products, services, having multiple products and services, whether it be that you are doing some work that is perhaps business to business, another work that is customer to business focused. It doesn't hurt to have diversity in your income streams because you never know what's going to happen. Same with if you're working one-to-one all of the time, actually having some kind of passive income is also going to support you. If there's ever a time where you are too unwell for a longer period to be able to work full time, you get the picture. So today's topic is just diversification. How can you add more diversification in your business to protect yourself?
