Better to stick to one thing?

5 replies
Was wondering, right now im "majoring" in website flipping. Im doing it and hope to get good with it over the next couple months. My question is this though. How many people, once they start making good money (good being whatever your expectations are), do they diversify? Do they diversify because what they do is getting boring or because now with the extra income they can outsource everything an making income that way too. I can totally see also how people start making their own products, heck if I had money and time on my hands I would too! Anyways, maybe I have answered my own question! Thanks for now!
#stick #thing
  • Profile picture of the author Barry Unruh
    Let's take a look at your site flipping business.

    You should be creating a targeted niche site, monetizing to build value before selling it.

    What if one of your sites starts making good money? Won't you take that site and start building it out a little further to make it into a great money maker?

    Keep the sites that produce, flip the rest. That is one formula for you to diversify, while you concentrate on "one thing".
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    • Profile picture of the author Tasso Pepi
      Originally Posted by KansasDragon View Post

      Let's take a look at your site flipping business.

      You should be creating a targeted niche site, monetizing to build value before selling it.

      What if one of your sites starts making good money? Won't you take that site and start building it out a little further to make it into a great money maker?

      Keep the sites that produce, flip the rest. That is one formula for you to diversify, while you concentrate on "one thing".

      Good point... I am a strong believer that becoming a master of 1 thing is better then being average at alot....

      But if like was stated in the above reply... If you get a great result somewhere that is not expected you have to adapt and be prepared to captilise on it...
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  • Profile picture of the author sloanjim
    Better to be master of one industry (which there can be several off shoots) then "Jack of all" If you look at all the wildly successful people /businesses they dominate their industry...not Jack of all ok at many.

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    too many things going on leads to stress. Take it easy. Do not be greedy. Stick to one and master it.
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  • Profile picture of the author nyrsimon
    ANthony,

    Be careful not to catch the VERY common bug of jumping from one great thing to the next.

    UNWELCOME TRUTH: There is money to be made in all aspects of IM but it takes HARD WORK, PERSEVERANCE and EFFORT. Yes there are plenty of get rich quick posts, products and WSO's - the reality is they are the exception. Most money is made through hard work and diligence.

    Get some momentum going on your flipping biz. Already in your choice of words you may be already thinking about jumping to the next great thing ("Right now I'm majoring in...") - maybe your subconscious is already looking for the next gig (just my VERY BAD psychology effort!!!)

    Just my viewpoint...

    Simon
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  • Profile picture of the author Zabrina
    Definitely stick with one thing for a reasonable time! At least two or three months, pick a length of time that works for you and put your all into it for this long. After you've put in a ton of effort over a reasonable period of time, if it still isn't working out, you could try something else.
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