Are You Throwing Money Away
This came into my inbox this morning and it is so true. I wish I could follow the advice
Splitting your efforts between multiple sites can be a very costly mistake.
It's like giving yourself a demotion instead of a raise.
I own multiple affiliate marketing websites and during a coaching course, I showed students an example of this kind of mistake.
I compared two websites I'd built.
The first was over a year old and making money every month.
The second was brand new.
The second site was more exciting to me than the first site so I'd thrown all of my energy into the new one for several months.
The good news is that I earned $2.92 in Amazon commissions from the new site.
The bad news is that my first site dropped a bit in Google's search results because of the neglect.
As a result, my commissions from the first site went down $61.41 during the time I was off working to earn $2.92 from the new site.
What I should have been doing was focusing on the first site because it's easier to grow the income from a site that is already making money than it is to make money from a brand new site.
If someone came to you and said “Hey, give me $61.41 and I’ll give you $2.92 back and we’ll call it even” you would laugh in their face!
But that is what MANY affiliate marketers do day after day after day.
Don't try to build multiple sites at a time. You're just delaying your success.
Instead, focus on ONE website until it is making at least $1000/month.
This is also why niche choice is so important. (You'll find I stress this often!)
If you choose a niche that can't keep your interest for an extended period of time then you will lose interest in growing your site at some point.
Choose your niche, choose your path and stick with that path.
That is how you turn your efforts into a consistent, growing income.
Recent Comments
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Hi Catherine,
Your post is very timely. I’ve been working on my MMO site for two years. The results are very modest. I created a new storytelling site designed to share and sell physical products I like. But I’ve held back for the very reason you discussed.
Should I work on two, or focus on one. And if it has to be one, which one. The older or newer site.
You helped me to make my decision to focus on my older MMO site. I am passionate about helping others find ways to make money online to finance their dreams. I think that your $1000 a month income generation is an excellent benchmark to use before working on my other site.
Thanks Catherine for helping me make this important decision.
Edwin
You stole my next blog post Catherine, LOL.
My immediate thought when Jay's 14-day webinar started was I wonder how many people are going to start a brand new niche website...
And probably end up eventually abandoning the site they're currently working on.
All of this is shiny object syndrome.
I'm pretty sure the Internet is awash will half finished projects and abandoned websites, simply because everyone's looking for the next best thing.
Basically, they're still looking for that magic button.
This is probably also why the vast majority of people fail online.
It's a little like opening an offline restaurant business, the deciding you want to sell shoes, and then deciding that you're a financial advisor.
Does that make sense?
Pick a niche, build your site and content, and don't come moaning to me until you've put your heart and soul into it for at least 2 years.
Most people aren't capable of doing this.
However, I love it when people prove me wrong.
Partha
Lara,
You'll only ever get complete honesty from me, so buckle up, here it comes.
Shiny Object Syndrome is anything in life that DISTRACTS you from your original goal.
You should be working, but you go on Facebook - Shiny Object Syndrome.
You want to go to the gym and exercise, but you decide to eat cake - Shiny Object Syndrome.
You are on a night out with your friends, but you are constantly texting your boyfriend - Shiny Object Syndrome.
For anyone new to online marketing this is the BIGGEST problem.
Everyone wants the "best", the "easiest", the "least work".
IT DOESN'T EXIST.
In fact, you have to work HARDER online for at least the first 2-3 years than you would in a "normal" offline job.
Many newbies will spend 6 months buying more-and-more programs, basically they are looking for something easy, a magic button.
After spending all their money the have achieved nothing.
Why?
Because they didn't TAKE ANY ACTION.
I can guarantee that EVERYONE will congratulate you for upgrading to Premium Plus (especially your personal coach because they have now made more commission from you).
But, allow me to ask you a question:
Have you completed all 50 lessons (or 70 lessons for Bootcamp) and have you created a website that currently has at least 10-15 articles on it?
If not, then you haven't used your Premium membership to the best of your ability before upgrading.
Premium Plus is great IF YOU USE IT.
Buying courses and upgrades DOES NOT GUARANTEE SUCCESS.
TAKING ACTION DOES.
So, now you have premium plus membership, USE IT.
Partha
I have seen in the past some people were simply repeating Jay's steps and building the site on the same niche. It was so bad that he used to ask people not do this.
On the other hand, about your "I wonder how many people are going to start a brand new niche website...", I would add ... and buy new domains here...
Hahaha, you know this Jovo.
I look forward to seeing the thousands of abandoned gardening domain names or websites in the near future.
Partha
hahaha, get out of my mind you, was thinking the same ,roflol
On a more serious note, I always advice; choose a niche that is at the intersection of love and money.
Great advice Partha. Your key takeaway is to put your HEART AND SOUL in your website for two years. I’ve been working on my first MMO site for two years. But I’ve not put my heart and soul into it continuously.
Hence, when I embarked on Jays 14-Day Series, I thought why not start fresh and do things better than I did before.
Then I started to think about the point you and Catherine made. Why?
I can structure my content writing process to what Jay is teaching. Similarly, I can get rid of plug-ins that I’m not using and incorporate the ones Jay is recommending.
Most importantly, write more content each week consistently using these tips. I can also pick the ones that are ranking and make improvements to those.
I like Catherine’s idea that until ones website is generating at least $1000 a month in income don’t start another one.
Perhaps I can also learn from you Partha. You speak truth to power in this business.
Cheers!
Edwin
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Very true. I have a few dormant sites. I put in A LOT of work into my first website but it isn't making much money, very little to nothing. I am now active on two websites since they're both about writing and I post on both frequently. I also decided to be more active on them because I noticed an increase in website visitors there.