What's Wrong With Doing Multiple Different Businesses?

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TheSphinx

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Hi guys, I need an advice for my case.
I'm doing a full time income from "Affiliate Sites + SEO as a traffic source".

I've been several months and I feel there's nothing really new, it's just building links/PBNs/finding niches etc.. I just spend several hours per week to follow-up with the process and see how everything goes.

So I decided to think about "Dropshipping + Paid traffic" and starting in it seriously.

I didn't start yet but I'm not sure If I can do both well or not? some people says you should focus on ONE thing get so successful in it & the Snowball effect "a situation in which something increases in size or importance at a faster and faster rate" So they recommend for me to keep scaling the affiliate sites and don't mess around with another business model like "Dropshipping".

What do you guys think? Is there anyone doing totally different things here? Let me know!
Thanks so much. :-)
 
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Do not listen anyone who says you can't, and most important do not limit your self!
just compare risk and profit, be smart
Good luck, never giveup
 
Jack of all trades, Master of none = stick at what you kow best and scale it up.

Don't keep your eggs all in one basket = diversify to reduce risk.


Nobody can really answer this, if you outsource you can do 2 income streams easily. Doing it all yourself, is time consuming.
 
"quién mucho abarca, poco aprieta" or maybe in English is this "Don't bite off more than you can chew"
 
I think 2-4 businesses is the ideal amount really. But it all depends. They might be super scalable, so you could run 10! I'd always try and have more than one though incase it tanks.
 
cryptocheese said:
Do not listen anyone who says you can't, and most important do not limit your self!
just compare risk and profit, be smart
Good luck, never giveup
Click to expand...
Thanks so much! Good words..

MisterF said:
Jack of all trades, Master of none = stick at what you kow best and scale it up.

Don't keep your eggs all in one basket = diversify to reduce risk.


Nobody can really answer this, if you outsource you can do 2 income streams easily. Doing it all yourself, is time consuming.
Click to expand...
Yes, I just started to lift my hands from several things in the affiliate sites part. So it's not time consuming at all right now.
Thanks for the advice!

jamie3000 said:
I think 2-4 businesses is the ideal amount really. But it all depends. They might be super scalable, so you could run 10! I'd always try and have more than one though incase it tanks.
Click to expand...
Exactly, thanks!
 
If I was you a just scale what bring me money now and focus on long term investment on offline, like a house or land.
 
El Duque said:
If you chase 2 rabbits you will get noone. Russian proverb

I recommend you the book: One Thing by Garry Keller.
Click to expand...

If someone rapes your rabbit to death you have no food. If you have two rabbits you still have food ;-)
 
Stick to one thing until it is successful. It sounds like your aff sites are at a point where they can now manage themselves and flow money into new businesses. No need to do 1 thing forever, that's a recipe for disaster.

Feel free to expand your wings, you might find even more success in your new ventures.
 
Some millionaires have said: “Never depend on a single source of income.”
This means doing multiple business is not wrong.
 
Your "job" is IM and everything goes.

I've read a great book that is based on Charlie Mungers thoughts. All the bussinnes are the same if you follow a specific set of rules.

So you can do more than one job, offcourse you can't jump in a new line of work, and neglect your niche sites. But testing and starting small can open your eyes and give you new ideas about your core work.

Since you are intensivly thinking about it, it means you have a good starting point.

Best of luck!
 
Of course you can, if you like to read I recommend the book.
The 10X Rule, by Grant Cardone.
there shows how you can get results 10 times greater than what you are getting now.
but having to do 10 times more than what he is doing now.
 
If you're a ONE MAN ARMY then i would strongly suggest you to keep scaling up what you are doing already instead of trying to master different skills and businesses.

However, if you are looking forward to actually outsource people for your new business then you can definitely jump on to new opportunities.
 
roberth07 said:
Of course you can, if you like to read I recommend the book.
The 10X Rule, by Grant Cardone.
there shows how you can get results 10 times greater than what you are getting now.
but having to do 10 times more than what he is doing now.
Click to expand...
The 10X Rule is a great book, I read it before yup. Thanks
 
Every person is different but if you are only you, stay only on one business strictly if you want to succeed
 
There is nothing bad about it. The issue is that running a single business is very hard. It requires your attention all the time. You can run multiple businesses if you think you are capable of it. You need to know your capabilities and then make the decision but know this there will huge losses if you make the wrong decision.
 
There is nothing bad in running more than one businesses. The only problem is that running a business takes a lot time and effort from your behalf. You need to give it your undivided attention. I hope that you will be successful in all your ventures but please, focus on one business.
 
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