What Joomla People Can Learn from Bear Sterns


Does putting yourself in a position where someone else can turn off all your income just by saying two words (?You?re fired?) sound like a safe and secure situation to you? Does having only one income stream honestly sound more secure than having 10?Steve Pavlina.

Not long ago a developer was told me that his wife wanted him to diversify away from Joomla. Not leave Joomla, just diversify. I’ve since talked with a lot of people who don’t seem to think its worth the effort.

She was right. Too many people who assume the Joomla gravy train will never end. It will. It might be next week or it might not be for many more years, but it will. You and I both need an exit plan. Relying on one income stream is dangerous, whether its a job or a website business.

Diversification Is Essential

“Some Bear Stearns employees have learned the hard way that putting all their eggs in one basket is not the best plan … Printed reports of Bear Stearns employees and retirees losing huge chunks of their company stock-based retirement holdings are already common. In one report, an employee for nine years said he recently lost $600,000 in Bear Stearns stock.” WallStreet.com

What is true for the corporate crowd is true for you and me. We need to diversify. Fortunately, many of us already have the necessary skills because we’ve been doing such for work client for years.

6 Ways To Diversify

  • Head over to CJ.com, find a high-paying affiliate offer and learn how to promote it.
  • Diversity your workload into another CMS such as Drupal or WordPress.
  • Start an e-commerce business of your own.
  • Build a local tourism site for your hometown.
  • Build some Adsense-optimized sites.
  • Buy revenue-producing domain names.

If you’re talented enough to make a living with a webdesign company, you can use those skills to profit in other markets. Simply being a coder or designer or SEOer isn’t enough and in fact, its downright risky. Don?t be afraid to go from SEO to CEO.

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