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When they say not to put all your eggs in one basket...

Discussion in 'Making Money' started by SmoothKriminal, Apr 4, 2017.

  1. SmoothKriminal

    SmoothKriminal Newbie

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    I am new here and through the browisng i've been doing so far I have heard a lot of people saying not to "Put all your eggs in one basket".

    I have also heard a few people saying that you need to pick a method/niche and get started ASAP.

    So what should I do in this predicament? I am looking at all possibly IM methods and I have yet to take action on one. I want to choose one but does that mean im "putting all my eggs in one basket"?

    Help a noobie out!

    Thanks.
     
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  2. xReminisce

    xReminisce Regular Member

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    No, that's not what they mean.
    When they say "don't put all your eggs in one basket"
    Usually refers to, the method or traffic source.
    If you rely heavily on lets say SEO, and the next google updates kicks you out of Top 100, you are screwed completely until you can recover and re-rank those rankings.

    Of course, that can apply to the say for example. You were doing some shady stuff, and Amazon Affiliate decides to close your account. You should be well aware, doesn't matter which Affiliate or program or company you choose, there is always that chance.
    Which comes to the conclusion, you start off, when you understand the application and process of IM, when you are making money, then expand.
    Otherwise, you are just being jack-of-all-trades and master of none.
     
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  3. SmoothKriminal

    SmoothKriminal Newbie

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    So as a noob getting into IM, what advice would you give me?

    Currently I am most interested in a shopify dropshipping method.

    I want to get started already, I want to avoid paralyses by analysis and overthinking.

    Would it be best for me to get started with the above methof
    and then see how that goes? Would that mean I "put all my eggs in one basket"?
     
  4. virtualbyron

    virtualbyron Jr. VIP Jr. VIP

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    In my case, I began to have a normal salary income the day I put all my eggs in one basket... I mean I jump $300 to $1500 month in few month from one site, once you live from IM you will have the time and money to try many things, especially if you earn passively from SEO.

    So I suggest to do the same for your first income stream, then when all goes well diversify your income streams to be safe.
     
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    Last edited: Apr 4, 2017
  5. neo

    neo Power Member

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    Focus on one thing at a time. Do not worry about the eggs at this time.

    Once you started making money, scale it with multiple source of traffic and income.
     
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  6. SmoothKriminal

    SmoothKriminal Newbie

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    May I ask what method you followed and how you gained success? You can explain in as much detail as you like.

    Thank you all who replied, I really appreciate it.
     
  7. xReminisce

    xReminisce Regular Member

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    Start of thinking, are you going go with a "brand name" or are you going to be a niche website.
    Then start building your website.
    Before you think about ranking and traffic and anything.
    Build your website to make visitors enjoy surfing and feel safe purchasing from it.
     
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  8. SmoothKriminal

    SmoothKriminal Newbie

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    In your opinion, what difference would it make if I went with a "brand name" vs a niche website? If I went for a niche does that mean I shouldnt have a brand name? Is it possible to do both? Just a little confused.

    I appreciate you taking your time to answer me.
     
  9. xReminisce

    xReminisce Regular Member

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    Not particularly
    The main difference is
    A Brand name can be all sorts of things.
    Just like when you think of "Sony" there is electronics, there games there consoles right?
    But a niche would be more category based. Extending to only a group of products.
    & Of course, you still need a Name for a niche website. For example Using Washing Machine as an example. Magic Washers.

    But, choosing a niche is much easier, as it be easier to focus on your keywords once you start (assuming you want to use SEO as a traffic source)
     
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  10. SmoothKriminal

    SmoothKriminal Newbie

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    It all makes sense now, thank you so much!
     
  11. Sumuji

    Sumuji Registered Member

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    That's my problem right now. Trying to do several different things at once.
     
  12. virtualbyron

    virtualbyron Jr. VIP Jr. VIP

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    Sure I even made a journey thread, you can check it here, maybe it can help you a little to avoid my noob mistakes
     
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  13. Sumuji

    Sumuji Registered Member

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    I'm new and trying Shopify too. The problem is that I also try other things. I find myself signed up with three different affiliates. I'm on Facebook offering to build sites so I can give them an affiliate link. I'm trying to build up a new Twitter account so I can link my codes. I've signed up for different sites, some that I don't even remember why now.

    I'm at the point where i have admitted I'm trying too much too soon and I'm going to focus on one thing until I see profits.
     
  14. SmoothKriminal

    SmoothKriminal Newbie

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    Hey man, glad to see im not the only one. We should focus our time as newbies to learn A LOT about one thing. I'm sure as we get deeper into our project we will have gained knowledge that we can apply to different methods.