Diversification Essential to Succeed Online

Written by Marc on October 24th, 2008

I know that there is a lot of talk about diversification when it comes to investing in stocks or mutual funds.  But when it comes to business (specifically online business), it seems that this subject is quite often overlooked.

There are many people that will tell you that the way to succeed online is to create a site, optimize it, and market it and the money will come.  Now, I suppose there is a possibility that it could happen that way (take for example Facebook.com as an example), but chances are that it won’t.

Unfortunately, it can sometimes be hit or miss when it comes to the success (and revenue) that a website will generate and that is why you don’t want to have to depend on just one for your online success.  Take Google for example: they just don’t depend on their search engine for revenue – they have other web properties such as YouTube, Blogger, Feedburner, and other websites in their online portfolio, making money for them every day.

If instead you develop a large number of web properties, you are not putting all of your eggs in the same basket and you will end up with some sites that perform amazingly well, some that are mediocre, and some that do poorly.  But the point is that your business will be a sum of those accomplishments, and with many sites in your organization, you stand a better chance of succeeding in your online endeavors.

Some ideas for diversification of your online business can be simple things such as setting up a Squidoo lens, a Hubpage, adding an article to Gather, or contributing some "intel" to Qassia not only help develop new assets, but do not take up any of your time.

If you were to take some time each and every day to diversify your online portfolio and add new revenue channels to your portfolio, you will be following the recipe to success online.  Try it out, and let me know how you make out.

Read more articles on Business Ideas and Online Opportunities.

One Response to “Diversification Essential to Succeed Online”

  1. Hi Marc,

    I agree that diversification online has long been overlooked and agree that Squidoo, Hubpages, Qassia and similar places are an excellent method to use.

    I have been reviewing several Search Engine Optimization courses lately, mainly by the Stompernet Team and by Brad Callen – and it is refreshing to hear them (and their teams of experts) recommend that marketers spread their traffic generation strategies across several mediums to cater for the peaks and troughs.

    A timely piece Marc.

    Charly.

Leave a Reply

CommentLuv badge