The Importance of Earning Money from more than One Business of the Same Industry.
In December I will celebrate my **^th birthday, and a thought came to mind while creating The Buddy Sharp Hair Academy. It became more obvious to me that my passion and knowledge of this great hair industry was going to outlive my physical ability to stand behind the chair and perform the services I so enjoy providing for my clients.
Knowing there are literally millions of stylists around this planet who are in the same place as I am, extremely talented in their skills set yet not able to continue their business due to physical limitations or nagging ailments they are experiencing makes it impossible to continue their styling careers.
Quite a few years ago I was listening to *Jim Rohn on a radio business talk show speaking about the number of Revenue Streams needed to become successful in your career. His talk was exciting and made good business since, so I took his advice and took it one step further. Every new business I started had to be in my area of expertise. That’s when I started developing different businesses from the same Industry to create separate revenue streams from my main source of income. Because I had more gallons of obligation than I had gallons of productivity left in my well, LOL. Translation for most non southerners, I had more years of financial obligation than I had years of productivity left in me doing hair behind the chair. These different side businesses from the same industry were and are still necessary to protect my total earnings and way of life in the case of downturns with any one of the many businesses that are a part of The Buddy Sharp Brand.
Every career has what I call the *Axle and Spokes relationship. The Axle represents your Industry by which you made your career and the way you earn your living. The Spokes represent the many Separate Businesses needed to support the main industry that provides dozens upon dozens of revenue streams created by these separate businesses. My career is a prime example of the axle and spoke’s philosophy. Operating several businesses that are being supported by the incredibly diverse audience and the needs of one very large industry.
This is covered in the course **“Axle and Spokes” at The Buddy Sharp Hair Academy Online Business and Marketing website.
This is just a small list of businesses supporting the much larger Cosmeceutical Industry.
Hair Styling and its many different services, Manicurist, Esthetician, Massage, Salon Owner / Spa Owner, Retailing Products, Fixed Location or Online sales, Product Distributor, Cosmetology Training for License, Instructors, Stylist Educational Trainings, Fixed Locations/ Online, Business Trainings, Speakers, Marketers, Coaches, Mentoring, Conventions and every business needs a support staff to run efficiently.
And the list can go forever.
Find a minimum of **two businesses to add plus your main business. Learn them, apply them and all will be protected if any one of them has a downturn.
Ok guys this is Buddy and I’m out of here.
- *Axle and Spokes course will be available January 2022 on The Buddy Sharp Hair Academy list of courses.
- **Does not necessarily have to be a part of this list of businesses
- Jim Rohn, was a great business mind and Speaker / Educator. You can of view his work on youtube
