Building an online business is daunting to everybody. I doubt anybody who is making money online will say otherwise. When I started over 10 years ago I was excited and dreamed of fast cars and flash houses but still it was scary. Today I don’t have a particularly flash car nor do I have a flash house but I have a lifestyle that makes a lot of the people around me jealous and that for me is worth more than a Ferrari or a Porsche.
Whats harder than starting a business online? trying to save a business that is crashing around your ears… I have had to do this a couple of times in the past and this is not only stressful but sole destroying however I got through it and I am now stronger because of it.
I have realised over the years that you should not have all your eggs in one basket you should have a portfolio of businesses in different niches and don’t rely on one affiliate program.
I made this fatal mistake last year and I watched my income plummet, I then have had to work day and night to build it back up and even now it is still in jeopardy. Why? Because there is always a risk that an affiliate program will close its program and for all those eBay affiliates that have had this done will realise its a big burden having to move to another program.
I am lucky enough to still have my ebay affiliate account and its still doing brilliantly but there is always that risk it could get terminated.
What will I do if it does?
Well I would move my shops to either Amazon or even any other affiliate program that sells what what I am promoting or I would simply flip the site and make a quick return.
I went from hero to zero in one month, when ebay changed its payment structure I was effected badly I was making an obscene amount of money then BANG! I was only making beer money!
Since this has happened I have now built sites targeting other niches and affiliate programs and now if any one of my sites get terminated I know that my other sites will keep paying my bills and I will have a enough of a cushion to get back up again.
SO you would think that after two crashes I would have learnt however I have but not in a way that you would think obvious! I still build sites the same and still target eBay but now I build lots of sites that also have amazon products on them and so although my ebay ROI is much less the risk is effectively a lot smaller.
What I am trying to say is that you need to keep an open mind and not rely on one program to pay your bills…
If you build a business based on the success of another business you are only as secure as the company that you are relying on. NOW this does not sound too bad but what if adsense shuts its program down? How many people would lose there homes?
You business model is only as strong as the foundations its built on… and all these newbies that come online discover adsense is fantastic and build 1000 thin sites and make good money then google slaps them and it comes crashing down again! what can they do? nothing diddly squat!
I build my sites for the user and fill them with good content and regular updates and this is why I make a lot of money from my affiliate endeavors and that is why google loves me and my sites that is why business does not rely anymore on other companies even if google slaps me I will still rank very well in Bing and yahoo so I will see a drop but I wont lose an income.
This is my opinion… whats yours