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Benefits of having a line of business
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[QUOTE="btaliat, post: 244908, member: 26390"] I won't blame those that always have more than one source of income. Their reasons are truly justifiable- no one knows the real business that will end up make us rich. But as plausible as their reasons, there is no need to have more than one source of business. It does show that one is not so sure of what to do. Except of course, there is successful management of the other ones just as we see in the case of Elon Musk. But someone like Steve Jobs, Bill Gates etc focus more on only one source of income for many reasons. The fact that one will be well known for what one chooses to do. And there won't be too long before the person has a brand name is the number one reason. Most time, when we have brand name, we can easily be commanding the market and even turn to monopolist since we will be the best ok what we do. Ingaine Ferrari company banning Justin Bieber from buying their product-it is because they are the best in that line. In essence, if one has more knowledge in other areas of business or there is need for diversification, one may consider having different other business lines. [/QUOTE]
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