martinz1995
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- Jan 12, 2022
- 28
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Hi so I currently operate a wedding photography/videography business, which is doing okay but I am thinking of investing in another business.
Now I know having shiny object syndrome is heavily frowned upon but the wedding photo/video industry is really declining. Marriages are declining and with the rise of smartphones, demand has also decreased a lot.
As a hedge against this, I am considering starting another business, one that isn't super high maintenance such as software (which I have some experience in coming from a software and marketing background) or even a YouTube channel to hedge against the declining market.
After I pay my team, insurance, marketing expenses etc. I'm thinking of putting some of the profits into another business. I know many advocate putting earnings into investments like stocks or even crypto for example but I think another business would yield better ROI (if successful)
Any thoughts or advice on whether this is a good idea?
Now I know having shiny object syndrome is heavily frowned upon but the wedding photo/video industry is really declining. Marriages are declining and with the rise of smartphones, demand has also decreased a lot.
As a hedge against this, I am considering starting another business, one that isn't super high maintenance such as software (which I have some experience in coming from a software and marketing background) or even a YouTube channel to hedge against the declining market.
After I pay my team, insurance, marketing expenses etc. I'm thinking of putting some of the profits into another business. I know many advocate putting earnings into investments like stocks or even crypto for example but I think another business would yield better ROI (if successful)
Any thoughts or advice on whether this is a good idea?
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