Oct 24, 2018
Most business owners know it’s important to have multiple revenue streams. If one stream tanks, even for a season, the others give you a safety net to keep going. Despite this knowledge, it’s hard to focus on other revenue streams when you’re so busy trying to just make the main one work.
That was Gini Dietrich, founder and CEO of Arment Dietrich PR and Spin Sucks. In 2010, during the heat of the recession, Gini had to lay off half her team. The unfortunate reality was that when purse strings got tight, communications and PR were one of the first budgets to get cut.
This wake up call pushed her to figure out a way to build more revenue streams. Her company may have survived this time around, but there was no telling what could happen if another disaster struck. Her company simply needed more passive income to fall back on apart from client retainers.