Strength in Geographic Diversification
I live in Canada where we have had to live with the odd case of devastating weather that could crippled my conventional business. About 10 years ago there was a massive ice storm in Eastern Ontario that took out the power grid for weeks. It didn't effect Bread Roots but it could have. I was glad we were serving other areas which were not effected.
It's hard not to see all the weather related and now oil related catastrophies in the U.S. At present anybody in the fishing business in the Gulf don't even know if they'll have a business in a month's time. Some of these people have been fishing all their lives. Now they could get wiped ot by something totally out of their control. It was the same with Katrina and lesser disasters that have happened all across the USA.
There are other disasters looming like the shortage of water in Arizona and the desert areas as a result of the underground aqueduct getting depleted.They have no idea how much water there is underground. Great? What would happen to real estate values and jobs then? While we talking about "no idea": They also have absolutely no idea how much oil is actually available for world consumption. That's a scary thought. I sure hope we are far less dependant on oil than we are now when it finally runs out.
This disaster scenio is all too real for many people. What can they do about it? Well you could start a home based business via the internet that was not just based on the area in which you live. You would be diversifying your income not only by type of income but also by geographic location. This is also a good idea if you live in areas that are chronically depressed as in the "Rust States".
So unless you've got a fantastic job with the government or already own a business that already has these features, I might be a good time to consider adding something to your income column: like a home based small business that's not just based in your home town or your home State or even your own home country.
In my case, I live in a relatively small country in population so marketing to Canadians is limited. With my home business on the web, I can market to the whole USA and the World. This opens up huge possibilties that don't exist any other place. Diversification of income is the real secret to being well off and staying that way. This is one good way to do it that's not going to cost you are whole lot to get started. Check it out.
Colm Maher 1 716 402 1615
Syke me at colmbonne
