It is true that only wise people know not to put all of their eggs in one basket for several reasons and I’m going to tell you why!
However, most folks out there would do something like that since they probably have no idea how much they’re risking losing it all.
And this could be in anything in life, especially for business purposes such as your only income source!
I remember many years ago when I first started getting involved in entrepreneurship and business companies, my first one at the age of 18 years old did well for the first 2 years and then it failed.
Yet, that was my ONLY income source at the time, and guess what?
I lost it all and I had no money coming in anymore.
Which I had to work extremely hard once again to build another new business since I was not willing to go back to having a “job” and work for someone else and make them richer.
So this is what I’m trying to say why it is super important not to have all your eggs in one basket! Keep reading.
What Does It Really Mean by Having “All Eggs in One Basket”?
Well, the name says it exactly as it is!
If you have all your eggs in one basket and you’re carrying it and you end up falling or “dropping the basket”, you lose it all since they’ll break and you’ll be left out with nothing.
Yet, we use this form of thinking for all life aspects as well, and we should consider it a very clever way of handling all the things in our lives!
So to me, it basically means that if it is your ONLY resource that you’re depending on as a single possibility without knowing the consequences of losing it, you shouldn’t do it…
And people who are depending on just this single source, they’re probably not aware that it can be a huge risk and come to an end since you just never know what could happen!
Now in terms of money, what I mean here is that you shouldn’t just have one single income source or a single “job” because the moment you lose it, you’re heading towards poverty and hunger.
Can you see what I’m saying there?
And again, that is why it is very important that you know this!
Here’s another story of mine that could serve as an example.
One time when I was having fun every day, going out every night and fooling around, I had only a pickup truck and some cash as well as one business company that was bringing me some income flow every month.
And if you have read some of my other posts here, I do mention that I was robbed by my so-called “best friend” where he did an incredible plan to steal my truck and most of my money as well.
Therefore, I was left with NOTHING like the money I had leftover was gone and I couldn’t afford to get myself another car, therefore, I was relying ONLY on this vehicle to take me around and the small amount of cash that I had and of course, the one single business company at the time.
Which I came to a point in life where I needed to borrow money from my mom to start my life all over again… Ughh I don’t like to remember it!
So again, I learned that I shouldn’t put all my eggs in one basket as this is a life lesson that I will take with me forever!
How NOT to Put All Your Eggs in One Basket?
Very simple, just have a backup source or as I may, have more than ONE!
If it’s a business company, invest in other different business models, or look forward to creating another company/brand but on a different platform because if it’s the same, it won’t really count, and here’s why!
For example; you have a business selling products on Amazon, and then you create another account to sell other different products there, and if they somehow end up closing the platform, you lose it all!
So having a different type of business model will work the best!
And if it’s like me, a car?
Have either another vehicle or of course, you should have enough money stacked up to be able to buy another one if you lose that car that you most need in your life, you know what I’m saying?
But again, this is just an example since it is a liability and not an asset!
But remember, It is for all types of purposes in our lives! And as long as you know NOT to put all your eggs in one basket and actually have different plans, then that’s the way to go.
In fact, most multi-millionaires and billionaires have up to 7 different types of income sources coming from different directions!
And that is the reason why they are wealthy because they know that it is super risky to leave all their eggs in one single basket, or as I may say, invest in just one single market.
You know, when I’m single, and as a true alpha ‘stallion’ man, I actually have more than one hot girlfriend and that is because the moment I and the main principal girl fall apart for any reason, I have another or others that will take over their spot!
That way, I would never be a “lonely wolf in the forest” hungry to catch a pussy cat if you know what I mean and that’s a smart way if you really think about it!
I mean I love sex, believe it or not, I don’t think I can go a full week without it…
So that’s one of the reasons I choose to have more than one!
Bottom Line Conclusion – Goal
So your goal and everyone else’s should be to reduce the risk of losing it all regardless if it’s a business or something that is all yours or not!
You know, Elon Musk one time was on a honeymoon with his back-then wife and he got fired from his OWN company as a CEO that he and others found in 1998…
So imagine if he only had that one single source of income? Therefore, one thing I like to remember is that nothing on this Earth is forever!
As we all know, life is a big rollercoaster going up and down!
I mean, today could be great, but tomorrow could leave you with nothing and lose everything, you just never know!
But if you take my advice here and invest in several other ventures, that is the best way to go and you’ll never feel disappointed when you lose something that you relied on all your life, especially in businesses.
Just don’t risk everything you have in one single resource, idea, or plan!
Therefore, since one basket of eggs is an extremely higher risk of loss, how about you have multiple baskets with the eggs separated in each one of them which will be many times safer than risking it all at once.
That also means even if you “think” you have full control of what happens to that basket, you’re still risking it regardless of how safe you think it will be.
Again, a wise man won’t risk it all, but a fool would! So choose your destiny very wisely!
It’s just like when having sex and you know you have a large load to shoot, and therefore you don’t only risk yourself having sex at one single position, but you try different positions for you and your partner to have the most satisfying sex you’ll ever have!
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So have you put all your “eggs in one basket” before? You know, I’m here to give you a hand. So ask me anything, any personal questions or if you find something unclear, just drop them below! I’ll get back to you ASAP!