Put All Your Eggs in One Basket?

by Vince Runza Online 43 replies
Too many Warriors are scattering their attention among different ways to make money. That's because there's no underlying plan or strategy behind these efforts.

It's the Warriors that get serious and bring a laser-focused application of effort behind ONE plan or strategy that take their business to the next level. So, should you put all your eggs in one basket? Andrew Carnegie thought so:

"But there's one literary mystery I want to see cleared up tonight!" said Mr. Carnegie. "It has been rumored that I am an author. I am. I will confess it now that I hold Mark Twain's affidavit - his signature - that I am the joint author of 'Pudd'nhead Wilson.' I can prove that the following passage was taken bodily from the lips of Andrew Carnegie:

" 'The fool saith in his heart: Do not put all your eggs in one basket.
" ' But the wise main exhorteth thus: Put all your eggs in one basket; then watch the basket.' -

"He took that from me!"

Mr. Carnegie sat down amid roars of laughter. He had outwitted Twain himself.

From The New York Times, December 22, 1905 Joan of Arc Startles Twain
#main internet marketing discussion forum #basket #business plan #eggs #focus #focused effort #implementation #planning #put
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  • Profile picture of the author GailTrahd
    Interesting concept - All your eggs in one basket could mean in one niche? One or two similar means of marketing? One way of building websites? Or just only selling information products online as opposed to branching out and using direct mail or phone call centers.

    In my case would that mean just selling PLR or only staying in the niche of providing support products to IMers? Someone selling dog training information - does that mean selling just information about dogs, just information about training dogs or just information and physical products in dog training? Or would it mean not branching out to physical products and ecommerce?

    Interesting thought - I'd love to hear what people have to say about this!
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    • Profile picture of the author Steven Wagenheim
      Vince, maybe my business strategy is all screwed up but I have my eggs in
      so many places that if one of those places fell off the face of the Earth, I
      wouldn't even notice.

      Good, bad?

      I don't worry about it as long as I keep having record breaking months.
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      • Profile picture of the author David_Thompson
        Originally Posted by Steven Wagenheim View Post

        Vince, maybe my business strategy is all screwed up but I have my eggs in
        so many places that if one of those places fell off the face of the Earth, I
        wouldn't even notice.

        Good, bad?

        I don't worry about it as long as I keep having record breaking months.
        Hey Steven,

        maybe you need to get yourself
        huge basket to hold all the stuff
        you have mate....

        Now that isn't a bad idea when you
        think about for a sec, one basket to
        carry but inside it holds many different
        compartments to carry stuff in...LOL

        --David
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      • Originally Posted by Steven Wagenheim View Post

        Vince, maybe my business strategy is all screwed up but I have my eggs in so many places that if one of those places fell off the face of the Earth, I wouldn't even notice.

        Good, bad?

        I don't worry about it as long as I keep having record breaking months.
        If your business is totally dependent upon your ability to perform, a sudden inability to type might answer that question for you, Steven.
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      • Profile picture of the author jhongren
        Originally Posted by Steven Wagenheim View Post

        Vince, maybe my business strategy is all screwed up but I have my eggs in
        so many places that if one of those places fell off the face of the Earth, I
        wouldn't even notice.

        Good, bad?

        I don't worry about it as long as I keep having record breaking months.
        Hey Steven, I love the point you said record breaking months.

        I believe this needs lots of FOCUS too and watching that particular basket for that month to make sure it breaks the record of previous month.

        Interestingly this is what I have done since my product launch. My profit for this month has doubled. =)

        Of course thanks to the many Warriors' help and advice.

        Cheers,
        John
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    • Profile picture of the author KarlWarren
      The trick is, finding lots and lots of eggs, and a very big basket.

      I'm with you on this one... when I focused solely on growing my graphics
      business, my income started to grow exponentially. It doesn't look like the
      growth will stop either.
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      • Originally Posted by KarlWarren View Post

        The trick is, finding lots and lots of eggs, and a very big basket.

        I'm with you on this one... when I focused solely on growing my graphics
        business, my income started to grow exponentially. It doesn't look like the
        growth will stop either.
        Plan + focus = quantum leap in results. Well done, Karl!
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        • Profile picture of the author ExRat
          Hi Vince/Brad,

          Thanks...I found this advice helpful
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          • Profile picture of the author Andrew Wilson
            I strongly believe we can do only one thing well at any one time - that is focus.

            But our definition of what that one thing is can be a tad broad.

            For example, I can identify a whole string of revenue streams feeding my bottom line. I do not see each one as being a different thing, they are pretty much all about the same purpose - I help people to attain their goals. No big fuss or song and dance. Almost all (I ain't perfect) of my revenue comes from that purpose,even though the form may vary.

            And there's more.

            All of my revenue streams feed my overall life goals (many of which I have attained over the past few years). I defined those goals quite a few years ago and every one of my revenue goals is designed to support my life goals.

            Now, I am looking at new life goals, compatible with those already attained or in progress, and all my revenue streams will continue to feed and be compatible with those life goals.

            It makes my life easy and relatively stress free.

            Upthread somebody mentioned Warren Buffet as somebody who did many things in comparison to Bill Gates. Well, actually Warren does just one thing and does it very well (actually he is probably a statistical outlier more than anything else) He is an investor. Each investment is simply one more facet of the one 'thing' - investing.

            For many of us the issue is not doing too many things but not defining the purpose that those activities serve. We need a single purpose and then our activities all become as one.
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          • Profile picture of the author davebo
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            • Profile picture of the author Bev Clement
              Vince I knew you were old :p

              I have lots of eggs, but most are related in one way or another, so they stay as part of the plan and in that way they fit into one basket.
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              • Profile picture of the author ShayB
                I would like to give a newbies point of view.

                When I first came to this forum, all I knew is that I wanted to make money online. I had no idea how to start.

                I started reading. And reading. And reading. My eyes started to cross!

                I joined the Private Forum. And began reading. And reading. And reading....

                If I tried to start every great idea on this board, I would be very busy - and probably making zero money.

                As it is, I waited until I saw "the" WSO for me, and signed up. Now I am focusing on that one particular method and starting with focused baby steps. I am putting my eggs in one basket and growing that nest egg.

                I feel the results will be far better than if I simply tried a little of everything.
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                • Profile picture of the author naruq
                  I agree that you need to focus on your basket. However, I believe that you need to develop multiple streams of income from a variety of baskets.
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                  • Profile picture of the author JeffersonB
                    I like stevens approach, but i think it takes at least a year to get anywhere near that.. a least a month per product for then to move on and keep them all going.. i don't know but would take a while and i would like to get there
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                    • Profile picture of the author JohnMcCabe
                      I see a lot of people on this thread who talk about having different baskets, and they're simply describing an assortment of tools.

                      Let's switch occupations for a moment...

                      We're all carpenters for the moment. We've been tasked with building a table and set of chairs.

                      We pick out the perfect wood.

                      We use tools to create assorted pieces - hammer, saw, chisel, plane, etc to create a table top, legs, chair seats, legs and backs, etc.

                      We take that pile of pieces and assemble them into something that looks like a table and chairs. We apply a decorative finish and call it good.

                      Did we really split the 'eggs' into multiple baskets?

                      I say no. Each individual technique and tool was brought to bear on the main goal - build a dining set.

                      On a larger scale, if we take that same set of tools and use them to build desks, cabinets, bed frames, chests, and so on, are we then putting eggs into multiple baskets?

                      Again, I say no. It's all one basket called 'build furniture'.

                      Now if we tried to build furniture, run a restaurant, drive a taxi, teach school, do some telemarketing and repair cars - all at the same time - we'd have so many baskets we'd likely kick some over just reaching for others.
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                      • Profile picture of the author Scott Ames
                        I think one should make sure one egg hatches before trying to hatch the others. It would also be wise to make sure that chick is fed and can grow on its own before trying to hatch more.

                        The more chicks one has the better, but its hard to grow them all at once.
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                        • Profile picture of the author davebo
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                          • Profile picture of the author Kay King
                            The "multiple streams of income" is one of the most quoted and least understood theories of IM.

                            In a recent post about a person who HAD created millions within one good marketing niche - a new member claimed it couldn't happen because the secret was "multiple streams of income".

                            FACT: Before you create multiple streams, you have to have that first trickle moving along.

                            Buying a nice assortment of baskets and buying one product or program to start for each basket - is a recipe for IM disaster. That seems to be what many people do.

                            On the other hand, if you fill up one basket and it starts running well with minimal daily support from you.....it may be time to add another basket and start filling that one up. Attempting to balance a bunch of half-full baskets at one time means running frantically from one to the other to keep your eggs from breaking.

                            Ok, I don't want that omelet now. Think I'll just eat a piece of toast.

                            kay
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                          • Profile picture of the author JohnMcCabe
                            Originally Posted by davebo View Post

                            John, that example was horrible and inaccurate. It sounds like you're saying that something like "Make Money Online" is a basket. So we all need to go out and drive taxis to be diversified. That's almost as ridiculous as saying that having all my businesses on planet earth is not being diversified because if the earth explodes and I have to move to mars, I will have nothing in place.

                            When most people talk about the eggs in one basket, they are talking about it in reference to the stock market. Don't put all your money in Ford stock, diversify into a mutual fund. Don't have all your money in the stock market, diversify into real estate, bonds, money market, etc. You can't look at it at a macro level and say "Investing" is one basket.
                            I see your point, and where my example was incomplete.

                            If we go back to my furniture building analogy, concentrating on building furniture - a wide variety of pieces for a wide variety of clients - could be considered diversified. Building one style of table for one vendor, and counting on that one vendor to supply your whole income, is dangerous no matter how closely you watch that 'basket'.

                            When I said:

                            Now if we tried to build furniture, run a restaurant, drive a taxi, teach school, do some telemarketing and repair cars - all at the same time - we'd have so many baskets we'd likely kick some over just reaching for others.
                            I didn't mean for people to imply that I thought that was desirable. Trying to watch so many baskets that you end up stepping on some of them is wasteful and counterproductive.

                            The way I read what you wrote, INVESTING is indeed a basket. Individual stocks, funds, bonds real properties, etc. are the eggs.

                            MAKE MONEY ONLINE is way too broad. Affiliate selling could be a 'basket' with article submissions, blogs, lenses, hub pages, PPC campaigns, review sites, etc. as the eggs.

                            A particular niche could be a basket, with things like ebooks, membership sites, podcasts, videos, etc. as the eggs.

                            Does this help me make my thoughts more clear?
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                            • Profile picture of the author Terry Hatfield
                              Gosh guys. . . I can't remember where I put my basket!!!

                              Terry
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                              • Profile picture of the author ExRat
                                Hi John/Dave,

                                I don't know why you're arguing about 'at which level eggs are put into different baskets.'

                                I know builders who use carpentry as part of their package.

                                I know carpenters that specialise in certain aspects of woodwork only.

                                What matters is the individual/company.

                                Some people are much better at multi-tasking. Perhaps they get bored with one thing. Perhaps they like setting things up but hate growing them.

                                Other people get nothing done when their focus is split. If they focus on one thing until it's as complete as it can be, they prosper. If they allow themselves to start a new thing before finishing the last, nothing works properly and they fail.

                                Different strokes for different folks.
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                              • Profile picture of the author Ken Leatherman
                                I have to go back to the theory that when you focus on one basket, with one egg to sit on and keep warm, you stand a much better chance of hatching that one egg more quickly. Whereas if you keep hopping from one egg to the next egg, you may never keep the eggs warm enough to hatch.

                                This was a very hard lesson for me to learn. But once I set down on one egg and kept it warm it hatched. And in six months, it has enabled me to start sitting on another egg, to continue to add more eggs to my basket.

                                Folks you need to understand that it's just not the money that you benefit from when you do this. It is that huge sense of self-satisfaction, you receive, when you have seen a project through to the finish.

                                The amount of money you realized, may have been small, but now you have a track record which will stay with you. That sense of reaching your first goal will be the catalyst to drive you on to the next goal.

                                I'm 65 years old and getting younger every day, but I'm now focused on growing my business one hatched egg at a time. Yes, it takes longer but it's good sound eggs.

                                Ken
                                The Old Geezer
                                P.S. Do I have egg on my face now or is my cholesterol level through the roof.
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                                • Profile picture of the author davebo
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                                  • The arguing over terminology, verbiage and similes reminded me of this epigram:

                                    Battles are for ego-trippers;
                                    Wars are for money-grippers!
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                                    "The will to prepare to win is more important than the will to win." -- misquoting Coach Vince Lombardi
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                                    • Profile picture of the author Keith Boisvert
                                      After being I think the last person on earth to read Rich Dad Poor Dad, I blew through that and picked up the Cashflow Quardrant and the Financial IQ one as well.

                                      In one of the books, I believe it to be the Quardrant one, he talks about Business Owners on one side(the right) of the quadrant. These are owners that if they stop going to work one day..their business would dry up.

                                      While the business owners on the other side are not active in the business(es) they own, and have hired people to run them, allowing them to focus on more businesses or enjoying life, whatever pleases them.

                                      I guess my point here is that by perfecting one business, automating it or getting someone to run it for you, THEN moving on to another makes really good sense to me.

                                      But if you have an internet business that requires YOU and only YOU, then what do you really have? Are you limiting yourself? There is only so much of YOU to go around.

                                      So I think we all want multiple streams of income, but like stated above, get one thing at a time working good, and if you can automate it or outsource it and still make a profit...knock yourself out and then move on to a new egg!!

                                      Just my .02 which probably is waaaay off, but that's the route I am taking anyways.

                                      keith
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                                      • Profile picture of the author Christie Love
                                        My concept is to never put all your eggs in one basket. Let's say you strickly make all your money via article marketing. You write tons of articles and forward them to your article directory of choice such as EZA. You are meeting your goals each month. Now, let's say EZA decides they want to shut down completely. Where are you now???? Broke!

                                        Now, If you had 1 or 2 other business projects on the side that were bringing in a decent amount of money, like Steven said, you wouldn't be directly affected. You have other things to fall back on.

                                        I have a full-time job now, but I am also working to build my IM business. Even though my passion is with IM, I still went back to school to get my MBA. Therefore, I will always have something to fall back on. In my opinion, you should never put all your eggs in one basket, yet be focused and organized with your plan(s) so they are all working for you effectively.

                                        I do agree, however, that if you have multiple projects going at one time and you are NOT seeing results from any of them, then you should definitely focus on perfecting one before branch out to other areas.
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                                        • Originally Posted by Christie Love View Post

                                          My concept is to never put all your eggs in one basket.

                                          [Snip of spelling errors and errant thinking]
                                          You're missing the point -- the basket has to be entirely under your control, Christie!

                                          Since you are working full-time for someone else, your opinion regarding the original post is tainted by your need for security. Give up your security and see if you can tolerate living like that.

                                          I can.
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                                    • Profile picture of the author TOPGUN08
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                                      • Originally Posted by TOPGUN08 View Post

                                        I keep all my golf balls in one bag. If I was to keep my golf balls in several bags it would take me all day and most of the night to play a round of golf.
                                        There ya go! Nailed it in two sentences!
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                                  • Profile picture of the author JohnMcCabe
                                    Originally Posted by davebo View Post

                                    Exrat,

                                    I'm not arguing, I'm just pointing out that post had the entire concept of 'eggs in one basket' wrong. And the fact that john said that all investing is considered having your eggs in one basket doesn't help his agument...because that's a silly comment.
                                    I wasn't trying to argue, either. We're obviously not looking at the same thing.

                                    Dave has closed himself off from any definition but his own, and chosen to use words like "ridiculous" and "silly".

                                    So we're obviously never going to be able to have an actual discussion, much less an argument. I don't want this thread deleted, so I'm bowing out now. No hard feelings, Dave...
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                        • Profile picture of the author jhongren
                          Originally Posted by Scott Ames View Post

                          I think one should make sure one egg hatches before trying to hatch the others. It would also be wise to make sure that chick is fed and can grow on its own before trying to hatch more.

                          The more chicks one has the better, but its hard to grow them all at once.
                          Hey Scott, I love the analogy of the chicks. Sound cute and very relevant.

                          As we have more eggs, we have more chicks. We got to continue to harnest them while watching over them closely.

                          John
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                          • Profile picture of the author Phil Jacobson
                            So what are the eggs here?


                            I would call them this: effort, concentration, organised planning and the execution of those plans.

                            So all your eggs in one basket I would say simply means: putting all your energy into that which you are doing. First Things First. Finish What You Start. Follow Through. Getting results. The chicks.


                            So, it's fine to have lots of baskets, but like someone alluded to LET THEM EGGS HATCH
                            and don't go to your next basket until they have.


                            I know that I am the biggest culprit of Basket Hopping before my eggs hatch.


                            This thread is about me in a lot of ways. I gotta make sure I hatch something from these eggs I have now before I jump to the next one. You guys are providing great enforcement towards that end.

                            Many Thanks

                            Phil
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                        • Profile picture of the author ShayB
                          Originally Posted by Scott Ames View Post

                          I think one should make sure one egg hatches before trying to hatch the others. It would also be wise to make sure that chick is fed and can grow on its own before trying to hatch more.

                          The more chicks one has the better, but its hard to grow them all at once.
                          I like this analogy.
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    • Originally Posted by GailTrahd View Post

      Interesting concept - All your eggs in one basket could mean in one niche? One or two similar means of marketing? One way of building websites? Or just only selling information products online as opposed to branching out and using direct mail or phone call centers.

      In my case would that mean just selling PLR or only staying in the niche of providing support products to IMers? Someone selling dog training information - does that mean selling just information about dogs, just information about training dogs or just information and physical products in dog training? Or would it mean not branching out to physical products and ecommerce?

      Interesting thought - I'd love to hear what people have to say about this!
      In my experience, it means pulling your head up from whatever task you are doing and asking, "What am I trying to accomplish, as an end goal?" If you come up blank, you know you haven't got a solid plan.

      You need a vision for what you want to reach and where you put all your effort. I want independence and a fully automated stream of revenue that can be tended by outsources while I go play with the things I want to do. To that end, I'm busting my butt helping offline businesses develop a dominant Web presence. Once this is set up, it runs on autopilot, with some occasional maintenance that can be done by a drudge.
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  • Profile picture of the author Brad Spencer
    Originally Posted by Vince Runza Online View Post

    Too many Warriors are scattering their attention among different ways to make money. That's because there's no underlying plan or strategy behind these efforts.

    It's the Warriors that get serious and bring a laser-focused application of effort behind ONE plan or strategy that take their business to the next level. So, should you put all your eggs in one basket? Andrew Carnegie thought so:

    "But there's one literary mystery I want to see cleared up tonight!" said Mr. Carnegie. "It has been rumored that I am an author. I am. I will confess it now that I hold Mark Twain's affidavit - his signature - that I am the joint author of 'Pudd'nhead Wilson.' I can prove that the following passage was taken bodily from the lips of Andrew Carnegie:

    " 'The fool saith in his heart: Do not put all your eggs in one basket.
    " ' But the wise main exhorteth thus: Put all your eggs in one basket; then watch the basket.' -

    "He took that from me!"

    Mr. Carnegie sat down amid roars of laughter. He had outwitted Twain himself.

    From The New York Times, December 22, 1905 Joan of Arc Startles Twain


    Going from my days doing nothing online (many baskets) to becoming successful (one basket and watching it), I can attest to this fact.

    There are many billionaires or billionaire families that own many things. Buffett, the Pritzkers (Hyatt hotels, etc), or Carlos Slim (Latin American telecom mogul/investor), etc that all own many things. However, one could define them as "investors" and that is what they do. Other's like Bill Gates, Andrew Carnegie, or John D. Rockefeller made their fortunes doing one thing better than anyone else.

    Who is better? I would say the latter. The reason is that if you read about the "investors" it was always one thing they did that made their fortune...they just kept doing it. Buffett made some great investments in insurance and reinvested the cash into more things. W/o the insurance money though, it'd be difficult to replicate Berkshire Hathaway. Slim bought when Mexico was in the crapper after the peso collapse. The Pritzkers were brilliant businessmen 100 years ago, and the children built the business up over time with hotels and industrial products being huge. So you see, they did one thing well THEN expanded.

    Ok, now why did I tell you all this business history? The point is...DO ONE THING WELL then expand. This is pivotal to everyone out there who wants to become successful. You have to have "mini" successes and then leverage them into bigger and better things.

    Remember no one builds a list of 500,000 w/o first building a list of 1,000. No one makes a million sales without making their first sale.


    Hope this inspires someone to take action and get started!


    Cheers,



    Brad Spencer


    PS- If anyone is interested in learning more about this type of idea...PM me and we'll talk
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  • I will look at it closer. Thanks Ed
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  • I think it's a good idea to be diversified online and have several, independent streams of revenue. Given the rate at which things change online, it only makes sense not to put your eggs all in one basket.

    The problem with most newbie internet marketers, though, is that most of them suffer from severe cases of information overload and end up running around like a chicken with it's head cut off trying to make money online.

    In fact, this pretty well describes me and my online marketing efforts over the past couple of years.

    I finally realized that you really just have to tune out the rest of the world and focus on a single money venture at a time, which is actually alot harder than it sounds when everyday your inbox is flooded with hyped up IM info product offers promising easy riches.
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    • Profile picture of the author ExRat
      Hi,

      This thread's still cool.

      Keith,

      Just my .02 which probably is waaaay off, but that's the route I am taking anyways.
      It made perfect sense to me and I'm with you on that point.

      Vince,

      Since you are working full-time for someone else, your opinion regarding the original post is tainted by your need for security. Give up your security and see if you can tolerate living like that.
      Great point too.

      Zachary,

      I won't quote your whole post but every part of it hits the nail for me.

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      • Profile picture of the author Amy Bass
        I agree with you about having one main business strategy. For me that is Niche Blogging and that has paid quite well for me. I do have different niches though, so in a way I am getting the best of both worlds.
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        • Zachary's summation is very good. Indeed, I call it apposite (go ahead, look it up).:confused:

          Everything starts with ONE focus, but you can find many streams of revenue to supply your income. That's what I'm doing...
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  • Profile picture of the author Jarod Lam
    Here's my thought on this...

    If you can't make 6-figures with ONE site, building another 100 sites won't work either.

    The reason is because you're just repeating the same mistakes a hundred times.

    Jarod
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    • Profile picture of the author alexander13
      Focus is the only way to go and is why doing your market research is so important. Google is too complicated and web businesses too hard to get up and running to be attempting the old 'have 50 adsense sites making $1000/mo' model anymore.

      That just doesn't work.
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      • Profile picture of the author AndrewCavanagh
        Vince is spot on here.

        Most people when they're starting out in internet marketing spray their focus everywhere trying dozens of different ideas.

        Their business strategy is like the "idea of the week".

        And they never get good enough at any one thing to make any real money...eventually they quit or they're just perpetually seeking the next new thing that will magically make them rich.

        When you're starting out you need to focus in on building exceptional skill in one area or an exceptional presence in one small niche.

        That way you'll be making a full time income in a few months or even a few weeks.

        From there you can move out to expanding into other subniches or building other skills.

        But you have to start somewhere and being half arsed at a dozen different things doesn't work too well.

        Kindest regards,
        Andrew Cavanagh
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        • Originally Posted by AndrewCavanagh View Post

          When you're starting out you need to focus in on building exceptional skill in one area or an exceptional presence in one small niche.

          That way you'll be making a full time income in a few months or even a few weeks.

          From there you can move out to expanding into other subniches or building other skills.

          But you have to start somewhere and being half arsed at a dozen different things doesn't work too well.
          This is the key to how I got started. I wasn't effective until I started doing the one thing I did best -- researching and presenting "how-to" information as an outsource for other marketers.

          Now, I'm using everything I learned from all that research to build a solid, long-term business promoting local brick-and-mortar businesses and professionals.
          Signature
          "The will to prepare to win is more important than the will to win." -- misquoting Coach Vince Lombardi
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          • Profile picture of the author AndrewCavanagh
            I started making good money out of internet marketing when I focused heavily on copywriting.

            I was a very good writer with good marketing knowledge and a lot of real world business experience so I studied all the greatest ads and started picking up business clients who wanted their websites to make more sales for them.

            I charged very little to begin with but I was making a modest living and studying like a maniac.

            I bought or traded services to get marketing and copywriting courses from some of the greats like Gary Halbert, Dan Kennedy and especially Jay Abraham.

            I devoured that stuff listening to audio as much as 14 hours a day.

            After I started charging more and more for my copywriting services I reached the point where if I thought a copywriting course or product had any value for me I would buy it.

            I was very tightly focused on becoming a really exceptional copywriter.

            And it worked.

            With this approach I was making a good living within 6 months and an exceptional rate per hour worked within around 14 months.

            I could work 4 days a month and make a good full time living.

            That was the coolest part.

            I also learned a tremendous amount about how to integrate online and offline marketing in small businesses (the real world application is a whole lot different to the theory).


            Having worked with many online marketers over the years I can tell you that most are really good at one skill and have developed other skills over time.

            It's that specialization that gives them enough of an edge to stand out in the marketplace and make a great living.

            In fact if you wanted to test what I'm saying just go through a list of the names of successful internet marketers you've heard of and think of the first thing that springs to mind.

            For example:
            John Reese - SEO
            Perry Marshall - Google Adwords (pay per click)
            Joel Comm - Google Adsense (getting paid per click)
            Jim Cockrum - Ebay
            Michel Fortin - Online copywriting
            Jim Edwards - Ebook marketing
            Rosalind Gardner - Affiliate marketing

            Now it would be dumb to try to compete with the market positioning of these guys.

            But you can find a ton of sub niches even in these niches that are easy to dominate.

            And in many cases if you do it well these leaders in internet marketing will even promote your related but non-competitive products.

            But the first step is to get really good at something or to really dominate a niche (it certainly doesn't have to be a niche in internet marketing).

            Kindest regards,
            Andrew Cavanagh
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            • Profile picture of the author JohnB23
              My advice for a beginner...you've got to get an education.

              -Find one author or guru that you really like and study it INTENSLY. You won't get knowledge through cursory glances. Or ordering tapes or books, and maybe reading them, maybe not. Maybe playing the tape, maybe not. Maybe buying a new tape player or CD player, or new headphones. You have to take it seriously.

              There are alot of gurus and authors, I've studied Jay Abraham the most. He puts on seminars that most people couldn't do in their lifetime. He sold $5,000 and $20,000 seminars 20 years ago. That'd be $40,000 today.

              Draw a list of what the guru/expert does and how he/she succeeds. And how the average person would do it. It's like night and day. That's why they're the guru!

              -Specialize. Go deeper than anyone else with a guru/expert. Get different seminar tapes. Get old ones. Get ones you can't think you'll ever find. Make a wish list of products/tapes. If other people on a marketing board are talking about "X" with a certain expert/author, go "5x" or "10x". Find more of his sales letters or do more google searches of his name. You'll pick up nuances.

              -Dive into the real stuff, don't just mess around with freebies or free reports.

              -Tune out the rest of the world while listening to it. Don't listen to something great/profound, and then drown it out, by going online afterwards, and forgetting what you know, or blurring it with junk. A mistake I made.

              Pretend it's just you, the guru/expert, and the marketplace. Forget all the noise and other peoples opinions.

              My approach is education first, then do something.

              You waste too much time doing things haphazardly or reading online inconsistently.

              You really can't lose with a good education first.
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