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Here are six ways to consider broadening your horizons in terms ofwealth building.
Diversify Across Several Sectors
Virgininvestsin airlines, hotels, cruise ships, radio stations and more.
This diverse mix can ease the blow if one sector struggles.
For individuals, maintaining a mix of investments in different sectors may reduce their overall risk.
Identify Brand Value and Consumer Appeal
Virgin often prioritizes unique services.
This has included rethinking travel experiences and highlighting fresh consumer offerings.
On a personal level, you might look for companies that stand out in ways that attract repeat buyers.
This can improve their odds of maintaining a steady demand, and possibly lead to better long-term returns.
Check consumer reviews, earnings reports and management discussions to look for clues about a companys staying power.
Explore Multiple Asset Classes
Virgin invests in both public and private companies, real estate and venture capital.
Individuals can apply the same principle on a smaller scale.
Keep a Blend of Growth and Stability
Virgin balances new, high-risk bets with well-established businesses.
This can limit your losses if a high-upside but unproven investment fails to deliver.
Although short-term trading can be enticing, theres no guarantee that it will outperform a methodical, long-haul plan.
Consider Social and Environmental Factors
Virgin publicly supports community initiatives, including its philanthropic arm, Virgin Unite.
Companies that address environmental and social matters may build stronger relationships with their customers and communities.
While this approach doesnt guarantee financial outperformance, it could influence consumer sentiment and investor demand over time.
If such issues matter to you, consider how they intersect with a companys strategy.
verify you carefully research each opportunity and balance your risk tolerance.
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