The worst number when it comes to running a business

The worst number when it comes to running a business

I'm sure that you've heard the saying "Don't put all of your eggs in one basket" when it comes to running a physical business or online business.  When it comes to making money, you won't want to rely on one method to bring in the bacon or one advertising platform that is your bread and butter lol.  You'll need to diversify your income streams in order to keep a healthy business running for a long time.

If you have multiple income streams that are healthy, you don't have to worry about much.  I'm not just talking about advertising methods either, you'll need multiple websites bringing in sales, not just one.  This will ensure that if one of your websites starts to fall off, your other ones can bear the lower sales of the first and keep you afloat.


If you haven't figured it out by now, the worst number when it comes to running a business is 1.

An online business is probably one of the easiest to start up due to the low investment it takes to get a website up and running and begin marketing.  But having just one product on that website probably isn't the best thing to do.  If you have 10 products, put them all on one website and set up a second website that sells 10 different products in a different niche.  You need to mix it up and jump around when it comes to niches, you never want to get too complacent within one because then you're leaving money on the table all over the place.

A few ways to avoid the dreaded #1


Sell eBooks
A proven method to generate sales is selling an eBook.  You can pick a niche then sit down and write about a bunch of topics within that niche.  You will need to offer your potential buyers something unique that fills a gap within the niche in order to convince them to purchase from you.  You can also write similar books that mimic high selling ones and undercut the pricing, just be sure to write everything in your own words so that you don't get accused of copying everything.  One of the best things about eBooks is that you usually only have to write them once and they will stay live on marketplaces for years to come  


Be a middle man
When it comes to selling other peoples products all you have to do is pretend the service or product is yours and mark the price up so that you make a good profit.  Obviously you'll need to do some market research to make sure that they item you want to sell will actually sell.  You'll also need to figure out if the marketing campaign will make you go bankrupt or if it will be easy to dominate with a low investment.  I've stumbled into some niches where I was paying $2.10 per click and making a 900% ROI for a long time   But there was a ceiling to the profits and I could never get them too high due to the amount of traffic I could get through PPC methods.


Membership Websites
When it comes to having a membership website up and running, you better know what you're talking about.  If you have people signing up for your site and you know less than they do, they will instantly cancel their membership and spread reviews that you're a fraud all while they start filing a charge back on their purchase.  Give your members a good amount of content, giveaways and anything else you can to keep them happy.  They will be paying a membership fee and that means they will want to be treated like kings and queens lol.


Become a Consultant
Becoming a consultant could mean pretty much anything because you can literally pick any niche and help people out lol.  I've done some SEO consulting in the past and it pays pretty well, but it's definitely a lot of work.  You will need to be an expert in your field and that means you can also charge a premium.  The only downside to this is that you need to build a presence online before getting people to notice that you know what you're talking about.  You can set up a consulting website and show any awards you've received or link to any pages giving your services recognition.


Freelancing
Just like all the service providers here on seocheckout.com, you can become a freelancer who offers work for a one time or monthly payment.  You will have to register on all types of freelancing type websites and micro jobs websites in order to maximize the size of your marketing net in order to pull in clients.  At first it will feel like there isn't any traffic coming to your service pages because you won't be getting many buyers, but don't worry.  You won't be getting many buyers coming to you for work because you don't have many reviews and you're a newbie.  To counter this you will need to sell your services lower than what the average is just to get some reviews and potentially turn your buyers into return clients.  I've dont this for some of my SEO company and I will offer some low priced services in order to get them to buy.  They will then see how powerful our cheaper services are and they usually sign up for something much more expensive since it will yield better results for them



When you start working online it can actually pretty overwhelming because there is a ton of information you will have to learn.  This isn't like a basic job where you can do 2 weeks of training and then run the store, you will need to do months and months of work before you're even at a basic level.  After your basic level you'll still need to keep studying and testing in order to figure out what works for you.  Bootstrap your profits and you will usually be able to start advertising all your services and snowballing your profits



In Conclusion:
You will need to avoid the dreaded #1 by building your income streams.  You will need a few streams up and running before you can start feeling secure.  Everything can be pulled out from under you if you just have one website with one money making method being used for it such as PPC.  Your advertising accounts can get banned with the bat of an eye, so try not to rely on them.



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Thanks!

Razzy