Should I put all my eggs in one basket?

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Just a quick question. In retirement, I was told to "diversify" my portfolio. In starting a business, I was told you don't want all of your work coming from one source, because if you lose that source, you don't have a business! Should I be doing the same this in relation to WA?

I have heard several people say that they lost their ranking, when google makes a change to their algorithm, and it is only a matter or when not if. So should I totally be relying on one website or one niche, for income? I think this WA is the real deal, but I have yet to make a sale. As they say, "All good things take time."

Let me know if you have any advice, comments, or questions.

In it for the long haul,

Lynn

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Recent Comments

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Some sound advice in the comments below. I've always believed that it is best to diversify. Your investments need to be in different venues. So does your website(s). Social media is huge for the diversification!
Always pay attention to the advice from the discussions and blogs. It will keep you abreast of the changes from Google. You can make adjustments at that time. Hope that helps.

Some sites you create will do well and others will not.

it really depends on how you see it I am planning to have 3 great sites in different area's that way there is different income streams, either way it depends how much time you want to put in and how much you can manage to

At the end of the day - I think it comes down to personal taste. I think when you're learning it's better to work on one - but there's plenty of other people who would disagree with that. I just think it's unwise to make the same mistakes on multiple niches. And unless you can afford to outsource a lot of work, it's difficult to run several at once. :) Beverley

Hi Lynn. You haven't been here very long, so it's not surprising you haven't yet made a sale. All good things do take time..

I love Brenda's 'If you have all your eggs in one basket, get some more eggs and baskets.'

I agree with betcha and the others who say start with one and while you are working on that you'll have ideas for new niches. At that point the technical things like choosing a theme and making it all look the way you like will be easier, so you can then concentrate on keeping the first site ticking over and writing more content for the second site.

Hope this helps.

Hi - I've always been taught "not to put all your eggs in one basket" but regarding traffic sources. Make sure you have multiple ways of sending traffic to your sites. However, this doesn't hurt to diversify in niches but if they are evergreen, e.g. health, wealth, etc. you are probably okay.

Lynn, I am working on my first, however I am leaning towards another, the more content I add the more I think boy that would be good. So I guess I am saying get the first one going, then do another. If you have all your eggs in one basket, get some more eggs and baskets. haha. Hope this helps.
Brenda

It's not a bad thing, to have eggs, but keep looking for more and get more baskets! That could be such a "deep" comment, or as simple as diversification.

Just simple, I am a simple girl.
Brenda

Different strokes for different folks. I think most of us have to find multiple niche ideas in order to create long-term success, but I bet there are a few who are naturally positioned for success in just one or two areas. Which one are you? It depends on the what you bring to the table. As for me, I'm still new and I've got my head down working on my first project, but whenever I look up from it, I see more niches for as far as the eye can seeeeee......

Ditto that!

I believe you should work hard on one niche, get it going and then open another one, while keeping the one going. This gives you time to recover if the worst should happen to a website. Three and four would not be bad either!

Hi Lynn! In relation to investing and retirement, diversity helps those who truly do not know what they are doing.

Robert Kiyosaki has said many times that if you know what you are doing then it doesn't matter what the "market" does because you will be able to profit either way it goes.

Another guy by the name of Warren Buffett said that diversifying is for those who are ignorant.

I think the same goes for WA. In time you will be able to chose a new niche quickly based on changes in the so-called market of Google algorithms in order to capitalize.

One more thing both of those smart and very rich guys say is that multiple streams of income helps to mitigate the risks. So yes, choose a few different niches and work them all to create "diversity".

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