revenue diversification

Revenue diversification means generating income from multiple sources rather than relying on a single one. This approach helps protect a business or organization from risks if one revenue stream declines or stops. For example, a company might sell products, offer services, and generate income from licensing or subscriptions. By spreading income sources, the organization becomes more stable and can better withstand market fluctuations or economic downturns. It’s a strategic way to enhance financial resilience and sustain growth over time.