As a business and investment person please never put all your eggs in one basket because its very delicate and can destroy all your
efforts and Labour of long term and that is why the rich have almost six to seven source of income to puts money in their pocket.
Once one goes down, the other goes up. Diversify to different sector to hedge and manage all forms of risk and losses.
We are in a volatile world now and stability will not be found.
Only you can stabilize anything with the KNOWLEDGE AND INFORMATION You carry and how fast you act on it.
Proper diversification is the way out of poverty and financial struggle as an investor and business person.
Create a simple and proper plan to deal with it or meet a consultant that can. That is why no rich person has one business or the other.
Dangote own dangote sugar, dangote cement, nascon and real- estate property. Jim ovia owns zenith, cyberspace, real estate and others.
Oba- otudeko owns the largest share in firsbank, owns Honeywell ad real-estate and landed properties.
Bill gates own Microsoft, owns shares in many companies and real-estate properties.
BUFFET owns share in over 20 companies and collect multi-billion dollars as dividends year and own bond too
Never put all your eggs in one basket because of:
- Market volatility
- Economic recession
- Political upheaval
- Environmental factors
And many more factors can make the basket fall and all the eggs scatter and that means all your efforts wiped off in a flash.
That eggs you put on one basket can lead to hardship and even poverty if care is not taken.
For example, if you invest your money in only one stock and that company crashes, all your effort is wiped off.
Or you put all your effort in that your job and on the long run the company goes bankrupt or you get fired, you put all your eggs in one basket without creating another source of income.
Know that there are different ASSET CLASSES:
-PAPER ASSET ( SHARES, BOND, TREASURY BILLS, MUTUAL FUNDS, FIXED DEPOSIT, COMMERCIAL PAPERS and Others)
-REAL ESTATE: LAND, RENTAL PROPERTIES( HALLS, BUILDING AND OTHERS)
-BUSINESS( Fully owned, partnership, online and many more
-COMMODITIES ( Gold, silver, agriculture and others)
The rich all diversified and don't rely on a single source of income because of the depth level of financial education they have.
As you continue in your journey to create wealth seek the right knowledge and diversify properly to manage any form of losses and you don't feel the huge impact and never put all your eggs in one basket.