I know you probably hate cliches as much as I do, but you know the one that says, "Don't put all your eggs in one basket?" It's true, especially when it comes to Internet marketing. In this article, I'm going to cover two specific areas where diversification is going to give you a better chance of succeeding than just throwing all your eggs into one basket and hoping and praying that you hit a winner.
The first area is the actual niche that you get into. Many people dive into one niche and that's it. They have blinders on when it comes to anything else. Now don't get me wrong, if you have a real passion for this niche and you just can't picture yourself doing anything else, sink or swim, then go for it. I know a lot of people who say to me, "Steve, I can't do something just for the sake of making money. I have to love what I do." Fine, if that's how you feel, then go for it. But, if making money is your primary goal, then you're better off trying to hit a few niches. This way, if one doesn't take off, another one might.
The second area is how you promote your business. There are many ways to promote a product or service online. One or two may not be right for you, either because they require too much money or too much skill. But pinning all your hopes on just one form of advertising is suicide. What if something happens to that avenue? What if changes make your ads ineffective? Then what? If you're relying on just one form of promotion to market with, you're taking a HUGE gamble.
Personally, I am involved in about a half dozen niches and I use about 20 different forms of promotion from text to video. I do enough that if any one thing goes sour, I don't suffer much. That's why I am a big believer in diversification.
And I am sure that after reading this, you will be too.
To YOUR Success,
Steven Wagenheim
