Are you faithful or do you cheat?

by Tom B Banned
81 replies
Do you work multiple niches or concentrate on one? I would love to hear the reasoning for your decision.


I concentrate on one market. I find it more productive to focus on maximizing revenue in one market. I haven't yet found a way to stop coming up with ideas/products for that one particular niche.


I don't believe in diversification when it comes to multiple markets. If you pick the right niche you won't have a problem surviving compared to picking a niche with little growth.


I think working multiple niches will slow growth tremendously while you are able to grow at a much faster pace when concentrating on one. You are maximizing resources instead of spreading them out.


There is no right or wrong answer with this, just open conversation. So, are you faithful to one niche?
#cheat #faithful
  • Profile picture of the author sbucciarel
    Banned
    I'm a cheater. I have 4 ecommerce sites, all in different markets plus a couple of other income streams that are more service related.
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    • Profile picture of the author Tom B
      Banned
      Originally Posted by sbucciarel View Post

      I'm a cheater. I have 4 ecommerce sites, all in different markets plus a couple of other income streams that are more service related.
      Ha! It took me over 6 years to finally get you to admit that.

      Do you market the ecommerce sites similar? Like some people do strictly article marketing or seo.
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      • Profile picture of the author sbucciarel
        Banned
        Originally Posted by Thomas Belknap View Post

        Ha! It took me over 6 years to finally get you to admit that.

        Do you market the ecommerce sites similar? Like some people do strictly article marketing or seo.
        No ... I diversify that too. Pinterest pins, press releases, ads on busy related blogs, facebook pages, google plus business pages. The only article marketing I do is putting unique articles on them that I write myself. No article directories.
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        • Profile picture of the author MissTerraK
          Hmmm,

          My two niches are closely related and both are service oriented. You can do one without the other or both together.

          So If I cheat, at least I keep it within the family! :p

          Terra
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          • Profile picture of the author Tom B
            Banned
            Originally Posted by MissTerraK View Post

            Hmmm,

            My two niches are closely related and both are service oriented. You can do one without the other or both together.

            So If I cheat, at least I keep it within the family! :p

            Terra
            Can you cross sell products to the same customers? Meaning, is there a group of customers that would be involved in both niches?

            If you didn't get caught cheating, did you really cheat? :p
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            • Profile picture of the author MissTerraK
              Originally Posted by Thomas Belknap View Post

              Can you cross sell products to the same customers? Meaning, is there a group of customers that would be involved in both niches?

              If you didn't get caught cheating, did you really cheat? :p
              Haha!

              I do actually combine both for a couple of clients.

              I write, record and mix guided imagery for one company and another I was initially asked for my recording which sprouted to writing as well, and then to writing, recording and mixing radio advertisements.

              So maybe I'm faithful after all!

              Terra
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              • Profile picture of the author Tom B
                Banned
                Originally Posted by MissTerraK View Post

                Haha!

                I do actually combine both for a couple of clients.

                I write, record and mix guided imagery for one company and another I was initially asked for my recording which sprouted to writing as well, and then to writing, recording and mixing radio advertisements.

                So maybe I'm faithful after all!

                Terra
                Great to be able to leverage the two markets. Since you are now faithful, we can put the halo back on your head.
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          • Profile picture of the author Internetoholic
            I was cheating. I really tried to earn on everything I found with Internet Marketing whatever it was.

            But finally I realised that being loyal with people gives the power, internal motivation, more money and it all consumes less energy to being successful.

            I hope everyone will get to that point. Life will be easier for all of us (:
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        • Profile picture of the author Tom B
          Banned
          Originally Posted by sbucciarel View Post

          No ... I diversify that too. Pinterest pins, press releases, ads on busy related blogs, facebook pages, google plus business pages. The only article marketing I do is putting unique articles on them that I write myself. No article directories.
          Jeez, do you sleep?
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          • Profile picture of the author sbucciarel
            Banned
            Originally Posted by Thomas Belknap View Post

            Jeez, do you sleep?
            Funny you should ask. I've been an insomniac since my teens. If I get 4 hrs, that's a full night. I usually go to bed around 11 and read for an hr and get up around 4am. Then sometime in the afternoon when I feel a bit drained, I take a small cat nap and then I'm good to go. My mother was just like me or I like her more likely. We had identical schedules.
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            • Profile picture of the author Sandra Martinez
              I tried many different niches... but my path of success/failure took me to center in 3. They are not exactly connected, but they are coherent. I can be just me in all of them and can talk about them openly (some people would prefer not to listen, but that is not my problem).

              I do have tons of dinosaurs floating around, they bring some money (very lil, but hey! I don´t even remember they exist most of the time).
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              • Profile picture of the author Tom B
                Banned
                Originally Posted by Sandra Martinez View Post

                I tried many different niches... but my path of success/failure took me to center in 3. They are not exactly connected, but they are coherent. I can be just me in all of them and can talk about them openly (some people would prefer not to listen, but that is not my problem).

                I do have tons of dinosaurs floating around, they bring some money (very lil, but hey! I don´t even remember they exist most of the time).
                Interesting Sandra. It sounded like you tested a few in order to get 3 to concentrate on. I never really thought about testing markets like that.

                I always ended up in a market that I needed a solution for. I was originally in real estate and developed software for investing. It was for me and I ended up selling it before I even knew anything about online marketing.

                That brought me to this forum and I started out just selling some programs to make some extra coin in the wso forum. I learned a lot about this market and eventually started building tools I wanted to use and, luckily, others wanted it as well.

                So that led me to testing in this market to the point where I know it and now have too many products and not enough time syndrome. haha

                I could get back into the real estate investing market but it would take me time to come up with a slew of products. It just doesn't make sense at this point and probably won't for a long time.
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                • Profile picture of the author Sandra Martinez
                  Originally Posted by Thomas Belknap View Post

                  Interesting Sandra. It sounded like you tested a few in order to get 3 to concentrate on. I never really thought about testing markets like that.

                  I always ended up in a market that I needed a solution for. I was originally in real estate and developed software for investing. It was for me and I ended up selling it before I even knew anything about online marketing.

                  That brought me to this forum and I started out just selling some programs to make some extra coin in the wso forum. I learned a lot about this market and eventually started building tools I wanted to use and, luckily, others wanted it as well.

                  So that led me to testing in this market to the point where I know it and now have too many products and not enough time syndrome. haha

                  I could get back into the real estate investing market but it would take me time to come up with a slew of products. It just doesn't make sense at this point and probably won't for a long time.
                  Well, the testing came a bit out of ADHD, and a bit because of one of my service businesses.

                  I taught myself web design when I realized that research and healthy kids did not go well together. It happens... no matter how well your left side of the brain is trained, a woman is a woman, and I am instinct first, everything else later. (and proud )

                  One thing lead to another and I ended up centering in technical writing. Doing guides for this industry, especially testing traffic strategies. Thing is.. I don´t like to talk the talk, I need to show. So for each guide I wrote in my life I have a website up and the promotion tested in place.

                  I was only selling the guide, not the whole thing. So I put up my affiliate links in them and let them be.

                  In some cases I was able to apply new strategies to sites I already had up, that was good. But in many others, had to create something new due to niche preferences of the client.
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                • Profile picture of the author Sandra Martinez
                  Originally Posted by Thomas Belknap View Post


                  I could get back into the real estate investing market but it would take me time to come up with a slew of products. It just doesn't make sense at this point and probably won't for a long time.
                  Maybe you can center in a hobby now. You earned it.
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                  • Profile picture of the author Tom B
                    Banned
                    Originally Posted by Sandra Martinez View Post

                    Maybe you can center in a hobby now. You earned it.
                    haha Yeah, I should but being a sadist I will probably work more. I get a thrill out of business and product creation. I think part of it is seeing how big you can get but also knowing the opportunities are limitless.

                    This is one of the reasons I enjoy doing business online.
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                    • Profile picture of the author Sandra Martinez
                      Originally Posted by Thomas Belknap View Post

                      haha Yeah, I should but being a sadist I will probably work more. I get a thrill out of business and product creation. I think part of it is seeing how big you can get but also knowing the opportunities are limitless.

                      This is one of the reasons I enjoy doing business online.
                      Oh.. I got that part. I mean that your NEXT NICHE can be about a hobby.

                      Hoe about boats? small planes?
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                      • Profile picture of the author Tom B
                        Banned
                        Originally Posted by Sandra Martinez View Post

                        Oh.. I got that part. I mean that your NEXT NICHE can be about a hobby.

                        Hoe about boats? small planes?
                        Actually, since you mentioned that, I am going to get into the travel niche.

                        I plan on traveling a lot and will set up a blog, do some video and share my experiences. I don't care too much if I make money as long as I get the tax deductions for travel expenses. haha

                        Even though I am very excited about this, I am a little worried about how much time will be taken up if I do what I want. I may have to scale it back some. I don't want to take away too much from the main business.

                        Someone has to replace Anthony Bourdain when he retires. I just didn't want to replace that bald guy who eats nasty stuff.
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                        • Profile picture of the author Sandra Martinez
                          Originally Posted by Thomas Belknap View Post

                          Actually, since you mentioned that, I am going to get into the travel niche.

                          I plan on traveling a lot and will set up a blog, do some video and share my experiences. I don't care too much if I make money as long as I get the tax deductions for travel expenses. haha

                          Even though I am very excited about this, I am a little worried about how much time will be taken up if I do what I want. I may have to scale it back some. I don't want to take away too much from the main business.

                          Someone has to replace Anthony Bourdain when he retires. I just didn't want to replace that bald guy who eats nasty stuff.
                          The travel niche is awesome! If you take the time to hook with the locals, you will knew a completely different place than the brochures. I did that to each one of the places I had the luck to visit.

                          There are always small places, lost corners no many know about... and the food.... Much better than the chains that are getting cloned all over.

                          I learned how to make trout a la Navarra from an old lady in a supermarket in Pamplona. How to make a good rice from a Brazilian lady from Fortaleza. How to make pancakes from a lady who sold them in the streets of Paris... can´t beat that.
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  • Profile picture of the author Chris Silvey
    Well I believe that one secret for these Guru's is after setting a good foundation and reaching a certain level, they can outsource a good portion of the work.
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    • Profile picture of the author Tom B
      Banned
      Originally Posted by Chris Silvey View Post

      Well I believe that one secret for these Guru's is after setting a good foundation and reaching a certain level, they can outsource a good portion of the work.
      Good point.

      To even take it further, one could hire a specialist in each market. You, in essence, become a manager. Still, there are limited resources. Do you spread them out or concentrate on one?
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  • Profile picture of the author markcr
    Banned
    One now. I made a huge mistake of trying to get into industries and it lead to frustration and wasted time. Never again. ONE now!
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    • Profile picture of the author Tom B
      Banned
      Originally Posted by markcr View Post

      One now. I made a huge mistake of trying to get into industries and it lead to frustration and wasted time. Never again. ONE now!
      I would love to hear what lead to the frustration and wasted time.
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  • Profile picture of the author markcr
    Banned
    what i do not understand is when someone tell you how well they are doing in niche. It's so easy, so much money, such a great life style etc...

    Then a week later he's into another niche, working that one as well.

    It puts me off. The more Niches they are in the less I am likely to believe the hype.
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  • Profile picture of the author markcr
    Banned
    I do not care what people claim there is no free and easy lunch in ANY industry. It takes effort, contacts, time, effort, vision, an edge, failing and growth. There is NO passive business.

    There are only so many hours in a day. You either focus in one biz or you split your time and effort and you'll find the results are "split as well.

    I.M.H.O.

    I would love to hear what lead to the frustration and wasted time.
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    • Profile picture of the author Tom B
      Banned
      Originally Posted by markcr View Post

      I do not care what people claim there is no free and easy lunch in ANY industry. It takes effort, contacts, time, effort, vision, an edge, failing and growth. There is NO passive business.

      There are only so many hours in a day. You either focus in one biz or you split your time and effort and you'll find the results are "split as well.

      I.M.H.O.
      Yeah, I found that to be true for myself as well.
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    • Profile picture of the author sadneck
      Originally Posted by markcr View Post

      I do not care what people claim there is no free and easy lunch in ANY industry. It takes effort, contacts, time, effort, vision, an edge, failing and growth. There is NO passive business.

      There are only so many hours in a day. You either focus in one biz or you split your time and effort and you'll find the results are "split as well.

      I.M.H.O.
      I'm in three niches, but while I do agree that there is no easy launch Mark, and that it does take effort, time, contacts, vision, etc, I do not agree that since efforts are split, so are the results. I find, once I concentrate in one area, I can reach the goals I set for, and then I will continue to manage the niche and keep it flying, but I will set my concentrate in another area. I never let anything slide.

      Perhaps thats just me.

      Andrew
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  • Profile picture of the author markcr
    Banned
    I mean do you think Rodger Federer would have become the player has has if he's have put effort into growing an E-bay biz on the side?

    You don't see Tom Cruise running a side business do you?

    To be world class takes 100%, laser focus. Same with biz
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  • Profile picture of the author markcr
    Banned
    You have to be dead careful chasing the "grass is Greener on the other side" and greed.

    IMHO run one biz you enjoy..worse case you work in a biz you enjoy. If you have free time....go for a hike, play with your kids, go to the beach etc.. Don't then spend that time working in another biz.

    Life has to mean more than biz and money or you'll end up in the looney house.
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  • Profile picture of the author markcr
    Banned
    I mean there are people who run a few businesses. But they work on them not in them. It's not for me though. I find every business always has a huge headache around the corner.

    Yeah, I found that to be true for myself as well.
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    • Profile picture of the author cashp0wer
      I am a cheater - I have my favorite niche that I go to first -but then I have 3 other sites that I also work with. They all do well for me so cheating must not be that bad.
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      • Profile picture of the author Tom B
        Banned
        Originally Posted by cashp0wer View Post

        I am a cheater - I have my favorite niche that I go to first -but then I have 3 other sites that I also work with. They all do well for me so cheating must not be that bad.
        Do you work the 3 niches based on enjoyment? I know some people feel "safer" being in multiple markets. I find it interesting as to why people decided to pursue their business model. I am always interesting in learning.
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  • I agree with focusing on 1 or 2 niches at most. I myself work exclusively on 2 niches.
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  • Profile picture of the author bhmseoservices
    I work on about 3 niches. It's a good way to diverse your links and online presents on the web.
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  • Profile picture of the author sarlat
    Warren Buffet is a very wealthy guy and he operates in multiple different niches
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    • Profile picture of the author seriousjake
      Originally Posted by sarlat View Post

      Warren Buffet is a very wealthy guy and he operates in multiple different niches
      Nice understatement of the year.
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      • Profile picture of the author myob
        My marketing model is based on the observation that people are multi-dimensional and have a wide variety of interests. Once a prospect becomes a satisfied customer, they are most likely to continue buying as long as you consistently meet expectations in service and quality of products. As examples, think of niche variety in offline shopping malls, department stores, and the success of sites like Amazon.
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        • Profile picture of the author Tom B
          Banned
          Originally Posted by myob View Post

          My marketing model is based on the observation that people are multi-dimensional and have a wide variety of interests. Once a prospect becomes a satisfied customer, they are most likely to continue buying as long as you consistently meet expectations in service and quality of products. As examples, think of niche variety in offline shopping malls, department stores, and the success of sites like Amazon.
          Interesting post as usual Myob.

          Is this a ecommerce site?

          I understand how Amazon can take a broad customer base and pull interests out of people based on what the user is searching or the types of products being viewed.

          Do you do something similar?

          I imagine you have some sort of customer interaction telling you their interests.
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    • Profile picture of the author Tom B
      Banned
      Originally Posted by sarlat View Post

      Warren Buffet is a very wealthy guy and he operates in multiple different niches
      Imagine how little he would accomplish if he ran all these companies he purchased ownership in.
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  • Profile picture of the author DianaHeuser
    I am a cheater, but only until I can afford to remain faithful.

    My passion is writing, but until I become the next J.K. Rowling (in non-fiction), my offline consultancy and technical services are my 'affairs' that fund my 'true love'

    Di
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    • Profile picture of the author Tom B
      Banned
      Originally Posted by DianaHeuser View Post

      I am a cheater, but only until I can afford to remain faithful.

      My passion is writing, but until I become the next J.K. Rowling (in non-fiction), my offline consultancy and technical services are my 'affairs' that fund my 'true love'

      Di
      Very cool. I can tell people I knew Diana when she was a cheater. :p

      Is the consultancy and services in one niche?
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      • Profile picture of the author DianaHeuser
        Originally Posted by Thomas Belknap View Post

        Very cool. I can tell people I knew Diana when she was a cheater. :p

        Are the consultancy and services in one niche?


        No Thomas,

        My offline local clients require complete websites, e-commerce solutions, lead generation and social media marketing. They are not in a specific niche but they fit into a specific demographic that I have identified as the right market for my business right now.

        My other site provides services and graphic design for Internet Marketers/Online Entrepreneurs who don't have the technical skills to setup sales pages, auto-responders, product launches etc.

        Di
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  • Profile picture of the author realnetworker
    I think we may start out with what we thought was right because we were trained by the wrong person i.e. someone who 'cheated' taught us that we should cheat too So I began as a huge cheater, but started seeing that no way was it gonna work! Just did not have enough time and resources to make all the niches/sites successful. So narrowed it down to my 3 favorite ones - it is much more fun this way!
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    • Profile picture of the author myob
      Originally Posted by Thomas Belknap View Post

      Is this a ecommerce site?

      Actually, it's just very faithful relationship marketing. My system qualifies and consolidates leads generated from 68 unrelated niches.
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      • Profile picture of the author Tom B
        Banned
        Originally Posted by myob View Post

        Actually, it's just very faithful relationship marketing. My system qualifies and consolidates leads generated from 68 unrelated niches.
        I think I misunderstood your previous post. I was under the impression you were selling products in a variety of niches to one customer. So a customer signs up for a growing dandelions newsletter you would not only sell him info on the dandelions but also other products that they may be interested in like how to look cool in street racing.

        Instead, it sounds like you focus on niches with a variety of products that you can make multiple sales on for each customer.
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        • Profile picture of the author ChoincStar
          I think it's good to diversify.

          How does that saying go?

          ..."never put all of your eggs in one basket"

          That being said, if you're doing really well in one niche, that's great. At some point though, if you've got that somewhat automated it doesn't hurt to strike out and see what other income generating niches you can break into.

          If you learn how to "master" one niche, you can apply what you've learned to anything you want. It can be much easier to start profitable ventures once you've done it a few times already.
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          • Profile picture of the author Tom B
            Banned
            Originally Posted by ChoincStar View Post

            I think it's good to diversify.

            How does that saying go?

            ..."never put all of your eggs in one basket"

            That being said, if you're doing really well in one niche, that's great. At some point though, if you've got that somewhat automated it doesn't hurt to strike out and see what other income generating niches you can break into.

            If you learn how to "master" one niche, you can apply what you've learned to anything you want. It can be much easier to start profitable ventures once you've done it a few times already.
            Do you think a niche like dating or health will go bust?
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          • Profile picture of the author Sandra Martinez
            Originally Posted by ChoincStar View Post

            I think it's good to diversify.

            How does that saying go?

            ..."never put all of your eggs in one basket"
            The problem with the multiple niche approach is that you can´t put your face on them, you can´t do videos, you can´t do interviews. For a simple reason... you can´t be an expert in EVERYTHING.

            As time goes by, it is being tougher to keep a niche going without showing a real person behind.

            The relationship with your customers is a relationship, whether it grows in time or dies.

            But if the facts and your bank account refutes my sayings... more power to you! Cheers!
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        • Profile picture of the author myob
          Originally Posted by Thomas Belknap View Post

          I think I misunderstood your previous post. I was under the impression you were selling products in a variety of niches to one customer. So a customer signs up for a growing dandelions newsletter you would not only sell him info on the dandelions but also other products that they may be interested in like how to look cool in street racing.

          Instead, it sounds like you focus on niches with a variety of products that you can make multiple sales on for each customer.
          Well, almost. Actually my style of marketing is centered on demographics rather than niches. Marketing in a wide selection of niches through targeted publications is my method for generating prospects of specific demographics. These prospects are in the professions such as doctors, lawyers, scientists, engineers, academia, clergy, etc, including related specialists and businesses.

          For example, a niche such as mesothelioma will have books and/or products serviceable across all of my targeted demographics. In addition, they often have broad interests in other topics/niches, which opens up more sales opportunities, referrals, and frequent recommendations to peers. This model perhaps is best summed up as "totally faithful relationship-marketing".
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          • Profile picture of the author Tom B
            Banned
            Originally Posted by myob View Post

            Well, almost. Actually my style of marketing is centered on demographics rather than niches. Marketing in a wide selection of niches through targeted publications is my method for generating prospects of specific demographics. These prospects are in the professions such as doctors, lawyers, scientists, engineers, academia, clergy, etc, including related specialists and businesses.

            For example, a niche such as mesothelioma will have books and/or products serviceable across all of my targeted demographics. In addition, they often have broad interests in other topics/niches, which opens up more sales opportunities, referrals, and frequent recommendations to peers. This model perhaps is best summed up as "totally faithful relationship-marketing".
            Ah, very cool. Yeah, it make sense and I never really thought about approaching it that way even though I had advertising and marketing classes in college.

            You are a very faithful guy then.

            Actually, I can see it working out pretty great. I am sure you can see it working as well. haha

            The first thought that comes to mind would be magazines like GQ. Anywhere from skin products, clothing, electronics, and so on.

            Lot's of different products promoted to that group and it is information wanted and not really pushed.
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  • Profile picture of the author Nicholas H
    I cheat haha.

    But for an upcoming project I will be focusing on a niche that I know a lot about, and that will be my main project for a while.

    No paying for content, re-writing, just me pumping out HQ articles on a subject I know Inside and out

    Saves money, and seems as If It will be fun
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  • Profile picture of the author Michael Ten
    Lololol. In this way, with niches, I cheat. Lolol.
    In relationships with women, I do not cheat. That is wrong.
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    • Profile picture of the author JohnMcCabe
      Originally Posted by DianaHeuser View Post

      My offline local clients require complete websites, e-commerce solutions, lead generation and social media marketing. They are not in a specific niche but they fit into a specific demographic that I have identified as the right market for my business right now.
      Thomas, this comes closest to describing my approach. I've found a specific group or class of people (a market) which I identify with and understand. Serving that market has taken me into several niches, at least as that word is used here.

      If you look at the people, I'm faithful. If you look at the mix of products and services, I'm not really cheating - more like polygamy than cheating.
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      • Profile picture of the author Tom B
        Banned
        Originally Posted by JohnMcCabe View Post

        Thomas, this comes closest to describing my approach. I've found a specific group or class of people (a market) which I identify with and understand. Serving that market has taken me into several niches, at least as that word is used here.

        If you look at the people, I'm faithful. If you look at the mix of products and services, I'm not really cheating - more like polygamy than cheating.
        John, and Di if she wants to answer, have you ever just decided to enter into a niche yourself after servicing a client?
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        • Profile picture of the author DianaHeuser
          Originally Posted by Thomas Belknap View Post

          John, and Di if she wants to answer, have you ever just decided to enter into a niche yourself after servicing a client?
          Thomas I have.

          The challenge is always the time and the capital to get that project started, while still trying to cover your monthly expenses in a new business. I have only been doing this full time for about a year now. It takes time to build up a solid business and there are many learning curves and mistakes along the way.

          I cannot afford to get distracted until this consultancy business of mine is consistently generating sustainable income and I have enough staff trained to handle all the technical stuff.

          If all goes according to plan, then in another year's time I will be in a position to take on a particular project that I have in mind.

          Di
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  • Profile picture of the author Troy_Phillips
    When I first came to the WF I was all over the board. I had a site in the herbal market with 7 or so sub-niches under it.

    I also ran a sports related niche as well as an offline to online local business type niche.

    This was not counting running, or at least overseeing, 3 non-related offline businesses. I got hurt pretty bad a couple years ago and honestly had to sell two of the offline businesses at about $0.48 on the dollar just to get enough money to get back to walking around again.

    5 years ago I sold a IM/MMO based business and had to do a 5 year no compete. Was fine with me because of the herb and sport niches. I really thought I made enough money there not to ever really need to do anything online except as mostly a hobby. I found out the hard way that with no medical insurance, there is no such thing as "enough" money.

    The sports niche is something that required physical involvement and although I can get around fairly decent now, I will never be that physical again. I still make decent money sending them leads but it is not what I consider full time money. The herbal niche still does well but is not a passion by any means.

    After the first of the year I am going into the IM/MMO niche 100%. The market is starved for someone to step in and actually teach something real and not false hope. I have a virtual army of affiliates offline to help me because I have spent the last year building relationships with Distributors of some larger print newspapers in Atlanta, as well as local newspaper editors, department of labor employees, .. shoot .. even the mailman. Mutually beneficial relationships are a wonderful thing all too often overlooked.

    While everyone else will be fishing from the same old solo ad ponds I will be reaching people that never thought of using a computer to supplement their income but are in need of making some money. The news distributor themselves are reaching over 200,000 people a week.

    I guess you could say I am a cheater who is dedicated to becoming faithful.
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    • Profile picture of the author Tom B
      Banned
      Originally Posted by Troy_Phillips View Post


      I guess you could say I am a cheater who is dedicated to becoming faithful.
      Hard core on the non compete. I hope you got a lot of money for that business.

      The one thing I would like to point out from you post, Troy, was the hustling offline.

      I don't think many people understand how powerful that really is. They get too caught up in the techniques discussed on forums like this and don't see the bigger picture.

      I was selling software before I even knew what online marketing was. There are clubs, all over America, that would meet once a month that was ideal for my product. I got a list of those clubs and contacted each person in charge about promoting my product for a cut.

      It worked out quite well.
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      • Profile picture of the author Troy_Phillips
        Originally Posted by Thomas Belknap View Post

        Hard core on the non compete. I hope you got a lot of money for that business.

        The one thing I would like to point out from you post, Troy, was the hustling offline.

        I don't think many people understand how powerful that really is. They get too caught up in the techniques discussed on forums like this and don't see the bigger picture.

        I was selling software before I even knew what online marketing was. There are clubs, all over America, that would meet once a month that was ideal for my product. I got a list of those clubs and contacted each person in charge about promoting my product for a cut.

        It worked out quite well.
        Actually the no compete would have been well worth it if I had not of gotten hurt, got better then woke up a year later and not able to move my left side of my body at all.

        Offline is like finding a new fishing hole no one else has ever fished. Our local newspaper only goes out to like 20,000 people but the owner let me set up a redirect for his affiliate link to a product and he is placing the ads in better spots than I could have actually paid for. After the first ad he wanted to know if we could do more.
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  • Profile picture of the author dragtastic
    i think everyone of us goes through multiple niches before we find the "one" and stick to it.

    Learning everything you can about a particular niche is very time consuming, but pays off well in the long run
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  • Profile picture of the author Sharpay
    I'm a cheater, because I'm new.

    I have multiple niches that I work in, and multiple that I concentrate on. It's supposedly a good idea to have one big project and work on that and only that until you establish it, but I think that depends entirely on your mindset.

    Personally, I want to know everything there is about what relates to my big niches. One thing that they all share in common: the need for traffic. They all get them from different methods, and they all have different results.

    So I've been getting my feet wet with free methods -- meaning the same methods you pay for, except you're paying for the experience. I've used arbitrage -- that's been going alright, but it's never been a huge passion. Just something I wanted to test out to see how it works.

    I've written & sold articles. That went pretty well, although I was looking for clients in the wrong area and getting underpaid. Even still, now that I know how to get paid what I'm actually worth, I don't do it anymore because it bores me to write about other topics & that reflects in the quality of my work.

    I've also been successful; successful means making a profit, not a living--I only made the equivalent of a couple of bucks in all of the niches and methods I've tried so far if you spread it out over how long I've been trying.

    But now that I've had this experience I'm almost ready to concentrate and start buckling down on just one project. The others will exist and be maintained, but they wont be my main focus.
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  • Profile picture of the author sbucciarel
    Banned
    I think the reason that I'm a cheater is that I'm primarily a web developer. I like building sites. They take time to develop and promote so while developing new sites in new niches, I offer other service oriented stuff to keep the income flowing while other projects are in the development stage.

    You're a software developer Tom, and I'm a web developer but still need to put money in the bank account while developing new sites.
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    • Profile picture of the author Tom B
      Banned
      Originally Posted by sbucciarel View Post

      I think the reason that I'm a cheater is that I'm primarily a web developer. I like building sites. They take time to develop and promote so while developing new sites in new niches, I offer other service oriented stuff to keep the income flowing while other projects are in the development stage.

      You're a software developer Tom, and I'm a web developer but still need to put money in the bank account while developing new sites.
      Cashflow is a tricky part of business.
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      • Profile picture of the author Sandra Martinez
        Originally Posted by Thomas Belknap View Post

        Cashflow is a tricky part of business.
        Indeed... it is complicated. Especially when you are in the tricky period of finding your voice.
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        • Profile picture of the author AprilCT
          I am a big believer in not spreading yourself too thin. On the other hand, I also believe that a single egg in your earnings basket isn't the smartest way to stay solvent, life always has a curve ball coming and life can change fast.

          Learn how to do one niche really well, organize and run it right to maximize earnings. Then protect your income with two or three more niches that could be geared up to earn a lot more if necessary.

          Dang, do I have to say I believe in cheating? I don't see any difference with more than one biz interest than I do in, say, collecting old posters and an interest in square dancing.
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  • Profile picture of the author Benjamin Ehinger
    Originally Posted by Thomas Belknap View Post

    Do you work multiple niches or concentrate on one? I would love to hear the reasoning for your decision.


    I concentrate on one market. I find it more productive to focus on maximizing revenue in one market. I haven't yet found a way to stop coming up with ideas/products for that one particular niche.


    I don't believe in diversification when it comes to multiple markets. If you pick the right niche you won't have a problem surviving compared to picking a niche with little growth.


    I think working multiple niches will slow growth tremendously while you are able to grow at a much faster pace when concentrating on one. You are maximizing resources instead of spreading them out.


    There is no right or wrong answer with this, just open conversation. So, are you faithful to one niche?
    I agree with you, sort of. I work one niche, as well, but work many sub-niches within that niche. I used to try and work multiple niches and was actually trying to manage almost 50 different sites at once. It got me nowhere, so I sold most of them and cut back to just one niche. Things have been much better since.

    Benjamin Ehinger
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  • Profile picture of the author 07
    I guess I am a cheater too, I work in all good wealthy niches that I can reach. having different niches and approaches just secures you from being slapped, like all been slapped by google with its penguins and pandas.
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  • Profile picture of the author Sue McDonald
    I believe that you should start with on market or niche and make sure that is successful before thinking of going to another. When you have conquered the first one and getting a solid income from it you can go and look at others that interest you.

    I am not adverse to having multiple streams of income but I think in the beginning you have to focus on one niche or sub niche. Some niches are so large you could have a multiple number of sub niches within the one.
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    • Profile picture of the author JohnMcCabe
      Originally Posted by Thomas Belknap View Post

      John, and Di if she wants to answer, have you ever just decided to enter into a niche yourself after servicing a client?
      Thomas, it's been a few years since I had actual clients, but I get what you are asking. I think.

      After getting into several niches, either because I liked them or thought they had money, I found myself trying to understand several different markets.

      I took a step back, and thought about who I wanted as my ideal customer. I came up with a profile, and then started looking at what people who fit that profile were into and willing to spend money on. If I thought I could provide value, I entered that product category.

      What has happened over time is that I can offer (under a variety of names) information tailored to that group of people in diverse fields ranging from travel to food to sports and hobbies.

      That's what I meant by being faithful to one group of people while offering things in multiple niches.
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      • Profile picture of the author Tom B
        Banned
        Originally Posted by JohnMcCabe View Post

        Thomas, it's been a few years since I had actual clients, but I get what you are asking. I think.

        After getting into several niches, either because I liked them or thought they had money, I found myself trying to understand several different markets.

        I took a step back, and thought about who I wanted as my ideal customer. I came up with a profile, and then started looking at what people who fit that profile were into and willing to spend money on. If I thought I could provide value, I entered that product category.

        What has happened over time is that I can offer (under a variety of names) information tailored to that group of people in diverse fields ranging from travel to food to sports and hobbies.

        That's what I meant by being faithful to one group of people while offering things in multiple niches.
        Kind of cool to get paid to learn different markets. Gives you the ability to jump in as a product creator while taking care of current cashflow.

        I have a couple of markets I am interested in. I have plans for my main market and, to be honest, I don't know if I want to build it as big as my original plans. It would require a lot of my time and effort and it gets a little boring after some time. haha

        So, there are other markets, like travel and real estate, that I could get into.

        From a purely business standpoint, I would be better off concentrating on the main market. From a personal standpoint, I want to get into the travel market simply because I love to travel.

        My main focus in the new year is hiring staff to take care of the main market more and develop plans I can hand off to a manager.

        I guess that is why I was interested in what others were doing.
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      • Profile picture of the author DianaHeuser
        Originally Posted by JohnMcCabe View Post


        What has happened over time is that I can offer (under a variety of names) information tailored to that group of people in diverse fields ranging from travel to food to sports and hobbies.
        John,

        The 'variety of names' concept really does not make sense to me. We all know that it takes time and effort to build up credibility in your own name as it is.

        To build up a relationship online requires blogging, commenting, providing excellent value to your customers and ultimately people get to know your personality and what you stand for.

        Trying to to do that with multiple names must be exhausting. My gut feeling is that I would be diluting my message because I would have to focus on different persona's.

        But maybe I am missing something here?

        Di
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  • Profile picture of the author Stuart Walker
    I have my fingers in multiple pies from ecommerce to SEO to niche websites in multiple areas, to Clickbank to Amazon and more. Diversity is the key for me!
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  • Profile picture of the author Silas Hart
    I'm a bit confused by the title and it's relation to the actual message in the original post.

    I don't see how having more than one website or business can be compared to the definition of cheating.

    I operate a conglomerate. I can manage several businesses as once, online and offline, and from different countries. Not doing so and focusing on one doesn't make sense to me personally because I do have the ability to operate several with very little drawback other than hiring assistance to keep my businesses running withoutrequiring 100% of my presence, which in my opinion would not make my businesses a "Business" but more so branches of assisted self employment. Plus, I wouldn't have diversification, which is my security and not just an option of several sources on income.

    I got started on eBay, if I simply kept with it and didn't force myself into other markets to bring in additional sources of income, I would have probably lost whatever ranking I do have on eBay due to bigger competition. I could Never become an eBay seller that can compete directly with Amazon. If I didn't, something would have happened along the way such as a random suspension, or hacked PayPal account and forced me out like it does with several other "medium sized sellers" - all of which has happened to me in the past... it was because of my multiple income streams that allowed me to go 3 months without an account and still survive which would have crippled many others. It was investing into real estate and becoming a landlord that gave me the financial security to take risks on eBay and even hire staff to run my business for me. My large eCommerce website is an amazing source of income, but it's backed up by my niche websites that sell the same exact products to a more direct audience of consumers.

    Most of the people in the online world won't get an option to sell out their business to competition. There isn't that tangible factor in every aspect of a business. Sometimes, when a competitor arises and they beat you in your market... they won't always be willing to buy you out to eliminate so you can still walk away with something in your hand, they will just take your market and keep looking forward. Walmart does't move into town buying up small businesses inventory and relocating it to serve to their customers at their own big store... but say you own a couple stores, and you own a couple service based companies in markets where Walmart doesn't compete in.... you can sell off your stores inventory and lock the doors, and focus your attention to your back up companies. Sure WarriorForum is great as an income source and business to Allen Says, but it Can be replaced.
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    • Profile picture of the author Tom B
      Banned
      Originally Posted by Silas Hart View Post

      I'm a bit confused by the title and it's relation to the actual message in the original post.
      It was a play on words. I thought I clarified more in my op.

      I don't see how having more than one website or business can be compared to the definition of cheating.
      Well, you are limited in resources like the rest of us. Those resources can be time, money, knowledge, etc...

      I fully believe you can be more productive by concentrating your efforts into one thing.

      For example:

      It takes time to learn a market. You need to know what problems the market is facing, how to solve those problems, how to communicate with people in your market, and how to reach those people in your market...

      Once I go through that, I can start building my products and marketing plan. That takes time.

      The more products I sell to the same customer, the more profit per customer I get. That means I can advertise more and pay more to gain a customer.

      I am trying to maximize my time and resources.

      On the flip side, if I am in multiple markets, I will have to go through the process of learning the market, creating solutions for the market and marketing plans to get my solutions to those customers.

      Why would I want to divide my time between two markets when I can pump out more products for one? At some point, you will end up with a greater return on your resources by focusing. Well, at least for me.

      Plus, I wouldn't have diversification, which is my security and not just an option of several sources on income.
      Why don't you think it isn't safe working just one niche? Markets like dating, health, wealth have been around forever. They are not going anywhere.

      Diversification slows growth.


      I got started on eBay, if I simply kept with it and didn't force myself into other markets to bring in additional sources of income, I would have probably lost whatever ranking I do have on eBay due to bigger competition. I could Never become an eBay seller that can compete directly with Amazon.
      Ebay, Amazon are not markets or niches. They are selling platforms. If you look at Amazon, you will see they focused on selling books and the sales process. Growth was their focus. Bezos wasn't running multiple companies at that same time.


      Most of the people in the online world won't get an option to sell out their business to competition. There isn't that tangible factor in every aspect of a business. Sometimes, when a competitor arises and they beat you in your market... they won't always be willing to buy you out to eliminate so you can still walk away with something in your hand, they will just take your market and keep looking forward. Walmart does't move into town buying up small businesses inventory and relocating it to serve to their customers at their own big store... but say you own a couple stores, and you own a couple service based companies in markets where Walmart doesn't compete in.... you can sell off your stores, and focus your attention to your back up companies. Sure WarriorForum is great as an income source and business to Allen Says, but it Can be replaced.
      It isn't about selling a business or being able to replace income. It is about maximizing resources to grow faster. Each Walmart store isn't a separate company working a separate market. They carry similar goods and cater to similar markets in each store. They have systems in place for that market.

      The Warriorforum wasn't really intended to be a money making business.

      Like I said, there isn't a right or wrong answer to my question. You seemed to not understand what I was asking so I thought I would try to clarify.

      Ok, so you're a cheater like everyone else on this forum besides a few of us.
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  • Profile picture of the author etelligent
    We were faithful for many years. But we just started cheating... feels good

    I think it's cool to expand and be more creative. Take things to new heights that some niches not really offer. or better yet, network with people who can sell your stuff in new markets, that they wouldn't in others. Volume VS Profit.

    Just do what's the most fun! and what you love!
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  • Profile picture of the author Auzan
    Banned
    [DELETED]
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    • Profile picture of the author JohnMcCabe
      Originally Posted by Sandra Martinez View Post

      The problem with the multiple niche approach is that you can´t put your face on them, you can´t do videos, you can´t do interviews. For a simple reason... you can´t be an expert in EVERYTHING.
      You don't have to be an expert in everything. You do have to be able to identify real expertise and connect with it, though.

      Even in the subjects in which you are expert, you can't know everything.

      Originally Posted by DianaHeuser View Post

      John,

      The 'variety of names' concept really does not make sense to me. We all know that it takes time and effort to build up credibility in your own name as it is.

      To build up a relationship online requires blogging, commenting, providing excellent value to your customers and ultimately people get to know your personality and what you stand for.

      Trying to to do that with multiple names must be exhausting. My gut feeling is that I would be diluting my message because I would have to focus on different persona's.

      But maybe I am missing something here?

      Di
      One way to keep it easier is to simply draw the various personae from my own personality. But you are correct - once you get past a few different identities, it can get a bit schizophrenic.

      Another thing I work at is keeping all of the personae focused on a similar message.

      As I've honed in on a demographic/psychographic market that I play well with, the need for multiple identities becomes less important. When I was bouncing around trying to 'fill multiple baskets with eggs', I chose names that fit those baskets. Truth be told, many of those pseudopeople will fade into the sunset in the coming months.
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  • Profile picture of the author markcr
    Banned
    Agreed. Imagine you want to hire the veryt best heart surgeon in the world. Money is no object...but he's away doing a seminar on S.E.O. Hmmm....think I'll pass on him.

    Most people fail....Most people run many businesses, See the connection? To create a multi million dollar business brand would never give you the time to dabble in other things.

    And Warren Buffet ran one biz. Berkshire Hathaway investments. He doesn't run "offline SEO" in his spare time. A 1 trick pony. According to msot here he was wrong. All $10BN+ off it.

    The problem with the multiple niche approach is that you can´t put your face on them, you can´t do videos, you can´t do interviews. For a simple reason... you can´t be an expert in EVERYTHING.
    Want to build a brand, make it big. Foucus on one thing!
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  • Profile picture of the author markcr
    Banned
    I am an old timer. I think it's lying and not the way to go at all.

    The 'variety of names' concept really does not make sense to me. We all know that it takes time and effort to build up credibility in your own name as it is.
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  • Profile picture of the author markcr
    Banned
    95% of people fail

    95% dabble in many businesses.

    Maybe they are connected?
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  • Profile picture of the author PunjabiYaaar
    I understand your concern. But i would prefer to work with multiple niches. There are strong reasons behind that. I am working in this filed for three years. If i work with two niches I know that one niece may click but another niche may not click. I prefer to do some sort of experiment in this filed. Just do it and see the result. Best of luck.
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  • Profile picture of the author Sharpay
    Sounds like most everyone here is "polyamorous" with their niches, haha!
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  • Profile picture of the author HKSEO Jonbones
    As many fingers in as many pies as I can get. All day long, son.
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