How many serps is too many to try

BlackBaller

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I knocked out a website about 5 weeks ago. About 30 pgs, good bit of text and graphics. Basic template, cut and paste, a little customization. Most of this is manual, took me about 8 hrs from registration to completion.

Started on a backlinking program. All manual, just my usual sites and tricks. No herculean effort - yahoo shows 550 BL's, some of which are from repeated domains due to sitewide links on other sites I own.

I checked today and I'm now on the 1st page (1/2 way down) of SERPs for my keyword term out of 494,000 exact matches.

I'm kind of stuck in my own little rut. What other niche or market should I go after? I know how to do it, just can't pick the best opportunity.

Variables:
1) profitability
Is there an affiliate program? How will I monetize it?
2) competition
<500k seems pretty easy. I've also managed to land top spot for other terms up to 2.7 million results... but that's *much* harder.
3) strategy
Should I build a super site, build up authority and PR and use that to drive other sites? Or am I better off continuing on with my semi-individual efforts?

I'm sure there's no 1 right answer for these questions. Just sort of ruminating and trying to get a discussion going.
 
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