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Everybody should be a millionaire if you think about it...

by fin
15 replies
Think about it: instead of building 100 sites you could build one in a niche you are passionate about, people spend money on, and you can constantly keep improving.

Now even if you worked hard providing massive amounts of free content and sold 1 book per year for 10 years -- you would only need 10,000 true fans who buy all your stuff.

Sounds a lot easier than throwing money and hundreds of mini sites.

Do you think?
#millionaire
  • Profile picture of the author Ron Douglas
    I agree. That's very similar to what I actually did.
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    • Profile picture of the author fin
      Originally Posted by Ron Douglas View Post

      I agree. That's very similar to what I actually did.
      It just shows: delivering excellent content/products and having an excellent retention rate can produce wonders.
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      • Profile picture of the author Chrisbroholm
        Originally Posted by fin View Post

        It just shows: delivering excellent content/products and having an excellent retention rate can produce wonders.
        I think you set it up a little black and white. Yeah sure if you CAN just out of the blue pick a topic and an execution that will deliver these huge results stick with one site, but it just seems like the effort involved is exponential.

        Many start 100 websites to find the gem and then build a huge site out of it. Other just don't like the maintenance involved with a big site or feel like a smaller site offers larger returns on investment.

        I do agree that building a huge site is nice, but I think you are also leaving yourself vulnerable to being banned from your monetization sources, you still have to find the niche first and even then...can you pull it off? Running that good a website requires incredible dedication and work ethics, whereas building the smaller sites you can piss about a little bit and some of them are even mostly set and forget.
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        Check out my blog GenuineOnlineMarketing.com where I talk about building Amazon and Adsense Niche Websites.

        Over 800 Amazon Reviews for $1 - No way?

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        • Profile picture of the author danr62
          Originally Posted by Chrisbroholm View Post

          I think you set it up a little black and white. Yeah sure if you CAN just out of the blue pick a topic and an execution that will deliver these huge results stick with one site, but it just seems like the effort involved is exponential.

          Many start 100 websites to find the gem and then build a huge site out of it. Other just don't like the maintenance involved with a big site or feel like a smaller site offers larger returns on investment.

          I do agree that building a huge site is nice, but I think you are also leaving yourself vulnerable to being banned from your monetization sources, you still have to find the niche first and even then...can you pull it off? Running that good a website requires incredible dedication and work ethics, whereas building the smaller sites you can piss about a little bit and some of them are even mostly set and forget.
          With a site like that you can create your own monetization sources as long as there is a payment processor that will work with you.
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  • Profile picture of the author Irwin Dominguez
    I agree with your approach 1M%. People just have a different approach of finding that niche. Like others have mentioned already; some people throw up a bunch of niche sites; see what "sticks" and grow it to an authority site after doing some research. That's the route I took - how big will the authority site get; that's TBD but I knew all along that's what I wanted to do.
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    • Profile picture of the author fin
      Originally Posted by irdominguez View Post

      I agree with your approach 1M%. People just have a different approach of finding that niche. Like others have mentioned already; some people throw up a bunch of niche sites; see what "sticks" and grow it to an authority site after doing some research. That's the route I took - how big will the authority site get; that's TBD but I knew all along that's what I wanted to do.
      Yeah I was just trying to say that it makes sense to concentrate on producing excellent content and offers so people will repeatedly buy from you.

      It just makes it 10x easier if you sell to 1 person 10 times rather than 10 people once.

      I understand people need to find their niche first.
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  • Profile picture of the author PassiveIncomeTeacher
    I agree. Some good work on the front end, before you start, can lead to have a successful online business without having 100 small sites. It really should begin with Customer Development and not a product.
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  • Profile picture of the author 100k
    Great... lets all sell 1 ebook for $10 every year for 10 years and be millionaires.

    DERP DERP!

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    Rent this space.

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  • Profile picture of the author Ewan Lumsden
    Banned
    I'm concentrating on the one big site at the moment to try and bring in maximum profit. I don't like having lots of mini sites, I prefer the one big project.
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  • Profile picture of the author Andyhenry
    Originally Posted by fin View Post

    Think about it: instead of building 100 sites you could build one in a niche you are passionate about, people spend money on, and you can constantly keep improving.

    Now even if you worked hard providing massive amounts of free content and sold 1 book per year for 10 years -- you would only need 10,000 true fans who buy all your stuff.

    Sounds a lot easier than throwing money and hundreds of mini sites.

    Do you think?
    No.

    I think it's much easier to sell 100 books from 100 sites than 10,000 books from one site.
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    nothing to see here.

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    • Profile picture of the author fin
      Originally Posted by Andyhenry View Post

      No.

      I think it's much easier to sell 100 books from 100 sites than 10,000 books from one site.
      So you think it's easier to sell to 10,000 customers rather than 100 customers 10 times?
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  • Profile picture of the author jgrigs711
    I agree with you. It is much better in the long run to build a massive and legitimate business that you can turn into a brand name. When was the last time someone received a lot of praise for an affiliate site promoting 1 product? However if you build a following then you will can always scale up.
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    • Profile picture of the author Andyhenry
      Originally Posted by jgrigs711 View Post

      I agree with you. It is much better in the long run to build a massive and legitimate business that you can turn into a brand name. When was the last time someone received a lot of praise for an affiliate site promoting 1 product? However if you build a following then you will can always scale up.
      On the other hand - not every wants to spend all their time on one thing and create a brand to sell later, and when domains are so cheap, sites are so quick to make and seo is so easy to do, and you can run 1000 sites making full time income using only part time hours and zero stock, zero risk, zero customer support and if you do nothing for the next 10 years you'll still get commission checks every month for that whole time - of course it's a model some people will prefer.

      A little organisation and planning up front and residual income for life.
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      nothing to see here.

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      • Profile picture of the author fin
        Originally Posted by Andyhenry View Post

        On the other hand - not every wants to spend all their time on one thing and create a brand to sell later, and when domains are so cheap, sites are so quick to make and seo is so easy to do, and you can run 1000 sites making full time income using only part time hours and zero stock, zero risk, zero customer support and if you do nothing for the next 10 years you'll still get commission checks every month for that whole time - of course it's a model some people will prefer.

        A little organisation and planning up front and residual income for life.
        I understand what you're saying.

        I guess what I was really meaning was in my original statement was that you wouldn't need to do all that extra work. It doesn't need to be 1 single site. That was just for effect.

        All I was meaning was you would only need to convince 10,000 people to buy. Then they would look forward to your next products and buy without needing to be sold to.

        It doesn't just need to be 1 site, or you don't just need to sell 1 $10 book every year.

        It was just an example of how easy it could be if people would buy your stuff without being sold to.

        Maybe better for people who find selling or SEO tough. Better just to concentrate really hard on getting a customer for life.

        Of course your way would work good as well. I guess it just depends.
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        • Profile picture of the author Andyhenry
          Originally Posted by fin View Post

          It was just an example of how easy it could be if people would buy your stuff without being sold to.
          Yes - that's certainly a good thing. But it does take a LOT of work to get people like that lined up, so it's by no means an easy option.
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          nothing to see here.

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