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[[File:Eggs in a basket.jpg|right|thumbnail|350px|"Don't put all your [[egg]]s in one basket" - Popular saying.]]
According to Collins Dictionary, Diversification is "the act or practice of manufacturing a variety of products, investing in a variety of securities, selling a variety of merchandise, etc., so that a failure in or an economic slump affecting one of them will not be disastrous."<ref>[https://www.collinsdictionary.com/us/dictionary/english/diversification Diversification - Collins Dictionary]</ref>
According to Collins Dictionary, Diversification is "the act or practice of manufacturing a variety of products, investing in a variety of securities, selling a variety of merchandise, etc., so that a failure in or an economic slump affecting one of them will not be disastrous."<ref>[https://www.collinsdictionary.com/us/dictionary/english/diversification Diversification - Collins Dictionary]</ref>
According to Investopedia, "Diversification is a risk management strategy that creates a mix of various investments within a portfolio. A diversified portfolio contains a mix of distinct asset types and investment vehicles in an attempt to limit exposure to any single asset or risk."<ref>[https://www.investopedia.com/terms/d/diversification.asp Diversification], Investopedia</ref>
According to Investopedia, "Diversification is a risk management strategy that creates a mix of various investments within a portfolio. A diversified portfolio contains a mix of distinct asset types and investment vehicles in an attempt to limit exposure to any single asset or risk."<ref>[https://www.investopedia.com/terms/d/diversification.asp Diversification], Investopedia</ref>
Articles on diversification for investing:
'''Articles on diversification for investing:'''
*[https://www.investopedia.com/terms/d/diversification.asp Diversification], Investopedia
*[https://www.investopedia.com/terms/d/diversification.asp Diversification], Investopedia
*[https://www.investopedia.com/investing/importance-diversification/ The Importance of Diversification], Investopedia
*[https://www.investopedia.com/investing/importance-diversification/ The Importance of Diversification], Investopedia
*[https://www.fool.com/investing/how-to-invest/portfolio-diversification/ Understanding Portfolio Diversification]
''See also:'' [[Diversification for a business]]
== Diversification and personal/business income ==
''See also:'' [[Multiple streams of income]]
[[Multiple streams of income]] is an [[economic]] concept that is applied to either personal or [[business]] use whereby the person or business entity seeks multiple sources for [[income]] that have some level of separateness so that in the event that one stream "dries up", the other sources will continue and prevent a catastrophic situation from occurring.
== Revenue diversification for a business ==
''See also:'' [[Revenue diversification and businesses]]
Diversification is a risk-reduction strategy for a business involving adding products, services, locations, customers and markets to your business's portfolio.<ref>[https://www.tradecommissioner.gc.ca/guides/spotlight-pleins_feux/spotlight-diversification-pleins-feux-diversification.aspx?lang=eng Spotlight – Market Diversification]</ref>
Diversification is a risk-reduction strategy for a business involving adding products, services, locations, customers and markets to your business's portfolio.<ref>[https://www.tradecommissioner.gc.ca/guides/spotlight-pleins_feux/spotlight-diversification-pleins-feux-diversification.aspx?lang=eng Spotlight – Market Diversification]</ref>
'''Articles on revenue diversification for a business:'''
*[https://web.archive.org/web/20210310022157/https://www.forbes.com/sites/melissahouston/2021/03/04/the-importance-of-revenue-diversification-in-business/?sh=2eb10d712b4e The Importance Of Revenue Diversification In Business], Forbes
*[https://web.archive.org/web/20230530015106/https://www.forbes.com/sites/melissahouston/2023/05/24/empower-your-business-by-diversifying-income-streams/?sh=6e3a621e4864 Empower Your Business By Diversifying Income Streams], Forbes
*[https://web.archive.org/web/20230606221217/https://www.forbes.com/sites/williamcraig/2015/04/24/business-diversification-the-risk-and-the-reward/?sh=f35147c7d09c Business Diversification: The Risk And The Reward], Forbes
== Diversification for an economy ==
== Diversification for an economy ==
"Don't put all your [[egg]]s in one basket" - Popular saying. The phrase is said to be first used in the novel “[[Don Quixote]]”, where it was written “It is the part of a wise man to keep himself today for tomorrow, and not venture all his eggs in one basket.”<ref>[https://www.languagecouncils.sg/goodenglish/resources/idioms/dont-put-all-your-eggs-in-one-basket DON’T PUT ALL YOUR EGGS IN ONE BASKET]</ref>
"Don't put all your [[egg]]s in one basket" - Popular saying. The phrase is said to be first used in the novel “[[Don Quixote]]”, where it was written “It is the part of a wise man to keep himself today for tomorrow, and not venture all his eggs in one basket.”<ref>[https://www.languagecouncils.sg/goodenglish/resources/idioms/dont-put-all-your-eggs-in-one-basket DON’T PUT ALL YOUR EGGS IN ONE BASKET]</ref>
== See also ==
== See also ==