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Have you heard of diversifying your investment portofilio? No? Well, it's extremely famous in financial planning. Those financial planners will tell you that in order for you to minimize risk of lost, you should have different types of investment to generate multiple income streams. This is to lower your risk of putting all of your eggs in one basket. Do you know that the same concept applies to your online business? Let's say you have a niche website targeted for dog owners and you're making a good income each month from it. Do you know how fragile an internet business can be? Once someone find out how profitable your online business is, it doesn't take a rocket scientist to figure out how you've achieved it. Don't believe me? Here are some food for thoughts for you. If you are getting traffic from Jv partners, what's stopping your competitors from contacting them to offer a better compensation than yours? Ooh. You think your Jv partners won't take the bait because they are your friends. Fine. What happen if your competitors end up becoming their friends by end of the month? Heck, they might be sipping coffee together at StarBucks! Oops. You've just lost 50% of your income when that happens. Or maybe, you are getting traffic from the search engines. With today's easy-to-use software, it's just a matter of time before your competitors figure out how you get top ranking at Google.com. Is it fair for me to say that they'll want to copy you legitimately to get the same success as yours? And here's the scariest part of all - As long as they are not copying apple for apple, they have the rights to copy you! You can't stop them from contacting your Jv partners. You can't stop them from writing the same book as yours but with a different angle. You can't stop them from reading your salesletter and hiring a better copywriter to write for them. The only way for you to 'save' yourself is to have more than one niche sites. So, if you have 4 niche sites and each of them is generating the same amount of income, you know that each site is giving 25% income to you. If one of your niche sites is taken over by the competitors, you still have 75% income to support you financially. And remember, we don't live in an ideal internet marketing world. Your website hosting, email database and etc can give you unforeseen problems. And you can be wiped off overnight because of this. Prevention is ALWAYS better than cure. If you already have a profitable niche market, don't just sit in front of your Tv hoping to cash out money from it each month. Build more online niches, then you can do whatever you want with ease of mind. If you need to make sure you have a profitable online niche, you can use Niche CheckList to check it out. Go to: http://www.nichechecklist.com Copyright 2005 Patric Chan How To Be Funny! - Earn 60% of $49.95 per sale! One of a kind niche e-book teaching people how to be funny in just 7 days flat! Instant Adsense Empire. - Build your Adsense Empire today - Buy our complete network of Adsense Websites. Article Index: | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 |
More Articles:1. The Psychology of Online Selling By Graham Jones Why do we buy things? Well, some thing are out of necessity; we need food and water to survive. But which food do we buy? You see we do have a choice, which means we make decisions to buy one kind of food against another. That means our choice can be influenced - even for 'essentials'. So even though a principle reason for buying something is 'out of necessity' the chances are you didn't HAVE to but 'that one'. You made a choice, conscious or otherwise.A common factor behind such choices is th… 2. Solution Catalog - Getting More Out Of Your Searches The Fast And Easy Way By Courtney Rouse Are you Tired of being Burned by your Internet solutions? Take advantage of a solution catalog with a difference, where your needs are thoroughly researched before they are presented, thereby providing you with trusted results.Permit me to share some beneficial experiences with you if you have the time. My earlier encounter with the Internet caused me to accept offers that later turned out to have very little credibility.I got conned into free give-aways which aren't really free and was soon… 3. For Those Who Are Really Sick Of Their Jobs Working For Others By John Woon If you’re given a choice of making $500 as a one-time payment OR getting only $100 but paid this amount every month for 20 years if not for life, which would you choose?If you work only once and get paid many times over, you’re earning a RESIDUAL INCOME. Of course you’d choose the latter.Elvis Presley today “continues” to earn residual income even after death because his records continue to “work” for him due to continued demand from his fans.Therefore it goes without saying that in order to b… 4. Why No Online Marketing is a Failure (It's Only a Test!) By Alexandria K. Brown Just yesterday a colleague of mine, whom I'll call "Sandy," asked my advice about marketing her new information product online. She saw some of my banner ads on a particular Web site, and wanted to know if she should put her own up there.I said they didn't work that well for me, but I suggested she try it, because it was a site often visited by her target market."But how do I know it will work for me?" she said."You don't," I answered."What?" she said."Test it!" I said. "Try anything for a bit… |
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