1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Many of you already know this, but just in case here is a first hand warning!

Discussion in 'Making Money' started by gasman, Oct 30, 2011.

  1. gasman

    gasman Junior Member

    Joined:
    Jan 25, 2010
    Messages:
    135
    Likes Received:
    49
    I started in IM a few years back. I built some websites, I bought a bunch of crap products.. you know the usual newbie stuff. Well I started making a ton of money using PPC (adwords)... Enough that after only a week of scaling it up I was thinking "wow I"m going to be set for life in a year at most" well about 4 weeks into it I got my adwords account banned (still not sure why they were very vague)

    Anyway, I learned the most valuable lesson I have ever learned in my entire life from that experience. NEVER EVER EVER!! put all of your eggs in one or even two baskets. Sense that experience I have spread out as much as I can I will literally dabble in anything that may make me money, from content writing for a penny a word, to a large authority site, to selling on Amazon. I find something that works, scale it, and outsource it as much as possible so i'm not spending all my time doing the work. (many of my projects after outsourcing only make me a couple bucks a day, but if I profit from it, and dnt have to put anymore time in it, then I consider it a success.)

    The reason I'm even making this post is because, I had an authority site in which I worked very hard on and was my main project for a while now.. I was making a killing like when i first started with adwords. Well as with many sites all of a sudden GONE no warning no nothing... and I don't mean it doesn't rank as well any more I mean it's deindexed.. may come back may not who knows... point being is that I'm fine.. I have enough other eggs that even though it suck I will be fine..

    Once you find something that's great, but DON'T stop there, find something else, then something else.. you will be glad you did.

    (Please no pm's about methods and stuff I won't answer them so don't waste ur time:cool:)
     
    • Thanks Thanks x 7
  2. YugiMutou

    YugiMutou Junior Member

    Joined:
    Oct 27, 2011
    Messages:
    114
    Likes Received:
    153
    Occupation:
    Dreamer
    Location:
    The Matrix
    Thanks that really help me Im a super noob....but intrigued with this Internet Marketing and other things around it ....I still find myself lost but I think with hard work maybe in a year I will be on a better path...
     
    Last edited: Oct 30, 2011
  3. dizz

    dizz Elite Member

    Joined:
    May 19, 2009
    Messages:
    2,068
    Likes Received:
    1,774
    Occupation:
    This... AND MORE!! :D
    Location:
    Texas
    I worked around till I have a lot of projects that make decent money that run auto then you worry less about loosing an acct.

    Dizz
     
  4. djhickory

    djhickory Jr. VIP Jr. VIP Premium Member

    Joined:
    Apr 3, 2011
    Messages:
    136
    Likes Received:
    13
    the the second time i read that phrase today, lol
    "don't put all your eggs in one basket"
    it's a fact of life, it's all about trial and error
     
  5. onthegoaudio1

    onthegoaudio1 Regular Member

    Joined:
    Dec 17, 2009
    Messages:
    330
    Likes Received:
    188
    Occupation:
    Full Time IM
    Location:
    US
    Home Page:
    I have my hands in so many different things, I forget about some until a check comes. Thats the first thing I learned in IM. Don't just make Money, make that shit come from all over... ;)
     
  6. GreyWolf

    GreyWolf Executive VIP Jr. VIP

    Joined:
    Aug 17, 2009
    Messages:
    1,930
    Likes Received:
    5,387
    Gender:
    Male
    Occupation:
    Artist / Craftsman
    Location:
    sitting at my PC
    It's not really about trial and error, although there is definitely a lot of that involved in IM as well.

    What it's actually "all about" is diversification. It's a term commonly talked about regarding financial portfolios, but it applies equally as much to Internet Marketing.

    The more diversified you are in the methods you have bringing in money, the less likely anything can happen that will affect all your income at the same time.
    :pirate:
     
  7. exXtr@

    exXtr@ Power Member

    Joined:
    Aug 27, 2009
    Messages:
    526
    Likes Received:
    246
    Occupation:
    IM
    Location:
    Belgium
    I hear ya on this one , I had 3 main methods working for me last week. One got totally screwed ( the site I was exploiting got patched ) , and the other is working only half as good. And that happened in a matter of 3 days.

    And I been running those methods for over 1 year both of them.

    My gf keeps telling me to focus on one thing , but that's bs , diversify as much as possible.

    Listen to this guy folks , these words are wise
     
  8. Mutikasa

    Mutikasa Power Member

    Joined:
    May 23, 2011
    Messages:
    575
    Likes Received:
    212
    my opinion is, neither focusing on one thing neither diversify is long term solution.

    Point is, you have to start making money. So, if u aren't making any money there's no use in diversifying, you have to focus until you make some money. Best way for that is to copy someone else's idea and improve it a little bit. Then, after u are making some money on semi-autopilot you start expanding. Invest earned money in something else which is related to previous niche so u can easily promote. In that way u leverage resource from first business to accelerate the second. And so on...

    Synergy, merging and acquisition is the key to empire.

    En joy