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Though the topic of this discussion is over broad here's my take.
Entitled the Tao of Revenue Diversification, copyright 2003, Hoax D. Hoaxr.
Like life, business is a matter of focus.
Like life, business is a matter of projects, sets of goals along a certain theme or path.
Like life, business is what happens when you're busy making other plans. (Thanks John.)
Diversification is a matter of widening one's focus.
When a camera lens widens its focus you see more in less detail.
When a camera lens narrows its focus you see little, but in explicit detail.
In the matter of business and revenue diversification your focus should be such that you can attend properly to all the projects within your view. You should be able to divide your time/focus evenly and efficiently amongst your goals, ensuring that each gets the attention it deserves to keep it progressing as close to its maximum potential as possible.
Conversly, your focus should also be such that should opportunity arise, you have the ability to see such opportunity coming and thus integrate it within your focus.
Exploiting opportunity and maintaining an efficient foundation are ying/yang.
Achieve balance.
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