Having
diversified sources of revenue is important for the same reason.
Like investments, your top priority in growing your business should be to
diversify your sources of revenue.
Rather than seeking to merge with local rivals to avoid competition, regional banks should try to find other ways to
diversify sources of revenue, FTC officials have said.
Over the past three decades, fee income has played an increasingly significant role on bank balance sheets.5 In 1999, the Federal Reserve Bank of Minneapolis noted that increased competition from deregulation and technological innovation was driving banks to seek new sources of revenue to remain profitable.6 In 2004, research from the Federal Reserve Bank of Chicago showed that the growth of fee income was the result not only of deregulation but also of an emerging sense among banks that fees could
diversify their sources of revenue.7
Not exact matches
But Waghorn says Hess's wide range
of oil reserves, including fields in Guyana, will help
diversify its
revenue sources in case prices stall at current levels.
«We currently derive a significant percentage
of our
revenue from a single
source, the production
of animated family entertainment, and our lack
of a
diversified business could adversely affect us.»
For this reason, it's important to learn how to
diversify your
revenue streams and not rely on earned income as the sole
source of funds.
Falling oil prices around the world have meant that Canada must
diversify its
revenue sources and take advantage
of other economic opportunities.
Bollinger points out that Wells Fargo can survive the flap in the long run because it has
diversified revenue sources, market share in key financial products, a large national distribution network and a cheap base
of deposits.
Many
of Templeton's European holdings, in particular,
source significant portions
of their
revenues from outside the region, yet investors have been focused only on their fiscally troubled domiciles despite their
diversified revenue streams.
«We are determined to
diversify our
revenue sources as a means
of increasing our income, and are working on strategies that will enable us to identify and pursue new funding opportunities in the government and corporate sectors,» she said.
«Upon completion
of this acquisition, Griffin - American Healthcare REIT II will add a significant international presence to an already extensive national footprint, creating one
of the largest and best
diversified healthcare REITs in the world in terms
of geography,
revenue sources and asset types.
Cost - cutting is an obvious
source of increased profits — but many companies are looking at the
revenue side, too,
diversifying their services to reduce their reliance on sales as their main income
source.