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Life & BusinessTop 20 of All Time

Top 20 Business Posts of All Time: #18 The Importance of Diversification

by Grace Bonney

As we count down our Design*Sponge Top 20 Business Posts of All Time, I love getting a chance to revisit some of these lessons and remember just how timeless they are. Today’s #18 post is all about the importance of diversifying your business and income sources. This is even truer now than it was back in 2015 when Lisa Hackwith and Erin Husted of Hackwith Design House shared this with us. They walked us through some great general advice on how to get your business started on the right foot and how to constantly be thinking about change, evolution and diversifying how and where you find income to protect yourself in the long run. For today’s influencers and brand creators, these lessons are something lived every day and they really capture the spirit of our “slashie” culture where everyone wears multiple hats as the boss/maker/promoter/seller of their own companies. xo, Grace

#18: The Importance of Diversification

  • Who Contributed This Piece: Lisa Hackwith and Erin Husted of Hackwith Design House
  • DS debut: February 2015

Photography by Hackwith Design House

Some highlights:

  • Start with what you know and love: When starting a new business, begin where you are comfortable. Surround yourself with people smarter than you. Keep in mind that if you don’t love what you’re doing, it will be incredibly difficult to put in the time to make it succeed.
  • Take risks: As usual, we agree with Amy Poehler, “great people do things before they are ready.” While it’s easy to want to keep researching, practicing, and preparing, at some point, you have to dive in.
  • Trust your instincts: By the time you’ve done the work to start your own business, your gut will know things that your brain can’t necessarily identify. Go with your gut. Common sense matters in business. 
  • Diversify: Part of diversification is making room for the next idea. You can build a business on elbow grease and adrenaline alone, but to maintain it, you have to take time to rest, to be inspired. 

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