One of the things that I somehow decided on early on in my online business career was that bigger was better. This meant that instead of having one or two websites (like everyone else), I would need 40 or 50. I think I assumed that more sites would equal more money and in some respects, I still hold to that ideal today.
But the truth of the matter is that bigger isn’t always better especially when you don’t have systems in place to deal with the magnitude of your organization. This can be problematic in both real world and online businesses when the business outgrows the original scope that was intended with it. It is at this stage that one of two things happen: either new systems are put in place to manage the larger organization or existing systems are used and the organization suffers.
Now in my case, it happens to be that I continued to add (and acquire) new websites at a ridiculous pace without considering the implications of doing so. At the time, I did have an income target that I was shooting for, so I figured if I had multiple sites each earning an average amount of net income per day that I would hit my monthly income target. It is something that most of us would come up with and in most respects seems pretty logical, right?
Well, at first it worked well. I was adding websites, marketing them, and seeing results. For the first ten sites or so, things went really well, with the sites surpassing my targets I had for the income that I was expecting from them.
After that, everything went down hill…
Lack of a Marketing Plan
As the number of sites that I had grew, I didn’t have a good way to market them effectively. If you have ever tried to market more than a couple of sites on your own, you know that it can be difficult to market them on a daily basis without facing burn out.
So, as it turned out, my marketing went from being good to very poor, and most of my new sites didn’t meet the income goals that I had set. In fact, though most of them did turn a profit, if you factored in my time, most of them were a big waste of time.
It was at that point that I realized that something was wrong, and I needed to step back, and figure out what was going wrong. After a lot of testing, I have finally come up with a system that works well for me and my online business, but it took some time to get there.
Does this happen in Real-World businesses too?
You bet – this happens all the time. Some good examples would be when a company has a really good year and has extra money to invest in other business ventures. I had a friend that had that “problem” after having the best year on record for his appliance repair business and he found himself as the owner of some apartments and a golf course all hundreds of kilometers from where he lived (that will be a subject of another blog post).
How do you manage your business growth?
The biggest thing that you can do to manage your business growth irrespective of the size of your organization is to do some sensible planning. This involves every aspect of your business (from manufacturing to sales) including the systems that you have in place to run the business.
It is also very important that you make sure to review how the business is doing on a regular basis and be proactive about addressing any problems. By taking an active role in managing your business and its growth, you should experience more successes and less headaches.
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