I first read the book Antifragile back in 2013.
It had a huge impact on how I view the world… both in everyday life and in business.
The author talks about lots of important concepts in the book but the overarching idea is that it’s important to build antifragile systems.
Systems that thrive under stress, chaos and uncertainty.
If something is fragile, it breaks under stress. Like a drinking glass that shatters when you drop it on the floor.
If it’s robust, then it’s resistant to stress. Like a plastic cup. If you drop it, it bounces and you pick it up unharmed.
But something that’s antifragile goes a step further. It actually gets stronger under stress. Imagine a cup that gets stronger after you drop it.
Or think about your muscles. You stress them in the gym by lifting weights. And they respond by getting stronger.
Building antifragility is important because there will always be outside stressors and chaos that we can’t foresee.
If you build a fragile system, it’ll break.
If you build a robust system, it might survive. If the stressor isn’t too big.
Even a plastic cup will break if you drop it from high enough.
But an antifragile system will get stronger from the stressor.
This concept is important for you when you’re building your business.
You don’t want it to crumble at the first sign of trouble, you have to make it antifragile.
But how do you do that?
Well… there are lots of ways to build antifragility into your business.
An important one is to make your revenue sources antifragile.
In most businesses, there are 5 revenue levers… 5 sources that can generate income for you.
- Affiliate Sales
Most entrepreneurs only use one or two.
They build their entire business around a course. Or affiliate sales. Or their consulting service.
Well what happens when things change? When the economy hits a downturn? When your industry gets disrupted?
And people aren’t willing to pay your consulting fee anymore?
Or you’ve burnt out your list with affiliate promotions and they’re not responding anymore?
“One is the most dangerous number in business”
– Dan Kennedy
You can’t build a resilient business around 1 or 2 income sources.
The key to making your business antifragile is to have all 5 levers working for you.
You should be selling affiliate products AND your own products.
Sell your coaching AND courses.
And you should have some kind of continuity income built into your business.
Then you can easily adapt to market conditions as things change and evolve.
You’ll have a business that actually gains from chaos, instead of imploding when conditions aren’t perfect.
When everyone else is scrambling to change their business model in order to survive, you’ll be able to adapt quickly.
So start building out your 5 revenue levers. It’s an important step to building a business that lasts.
– Dave D’Ambrosio
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