How To Make Money Online By Building A Portfolio Of Websites
Personally, I think the best way to make money online is to build a portfolio of established websites. And the secret to any type of successful portfolio, whether it’s stocks, Real Estate or websites, is diversity.
Why build a portfolio of many sites instead of just concentrating all of your efforts on one? For the same reason Donald Trump invests in more than one piece of Real Estate. Markets fluctuate, interest declines, competitors enter the scene. The Internet is a lot bigger than most people imagine and, as a marketplace, it changes almost daily. Putting all of your eggs in one basket is never a good idea. Just ask the guys at Napster.
Why diversify? If you’re good at building one type of site, why not just wash, rinse and repeat? Again, for the same reason mentioned above. It’s never good to put all your eggs in one basket. Let’s say you’ve had a ton of success building affiliate sites around digital info-products that you find at Clickbank and all of a sudden Clickbank ceases to exist. How long will it take you to rebuild those sites around other products and how long will you be without income while you’re waiting for all those new sites to rank?
And why do they have to be established websites? Well, let’s define ‘established‘, first. An established site is one that’s ranking well in the search engines. Searchers are finding the site and you have steady traffic, every day, generating steady, reliable income. It takes some time and a lot of work to turn any site into an ‘established‘ site but if it’s not established, then what good is it? Any flash-in-the-pan site can produce income for a short period of time. But being able to rely on that income, month after month, is what matters most in the long run.
What types of sites should you include in your portfolio?
The types of websites you can build and the methods of generating income are limited only by your imagination. But you should treat your website portfolio just like your would your other investments and include a mixture of high, medium and low maintenance sites with varying levels of income.
Take advantage of popular products that might have lower profits but consistent sales. An affiliate blog built around a particular niche takes a certain amount of upkeep and it can take time to get it established in the search engines and in the marketplace. The income earned from an affiliate blog is somewhat lower because you’re paid a percentage of sales, however, once established, it becomes relatively maintenance free and can be a steady source of residual income for a very long time.
A website built to promote your own products can be more time consuming and requires an investment of time, and possibly money, in creating your product. But you’ll also generate more profit in the long run and it, too, can become a steady source of residual income for years to come.
Take a risk with trending products and use PPC advertising to send traffic to simple landing pages that you’ve set up or directly to an advertiser’s sales page. Setting up simple landing pages takes very little time at all and it’s a fast way to generate a lot of sales before your competitors jump on the band wagon.
It’s also wise to concentrate on more than one type of product. You may think that you’re only good at promoting diet products but marketing is marketing. If all your sites are built around some type of diet product and tomorrow some doctor said it’s healthier to be fat, then you’d be out of business quicker than you can say ‘Jack Sprat’. Break out of your comfort zone and diversify your product selection as well as your marketing methods. It’s better to carry a dozen eggs in a dozen separate baskets. That way, if you drop one, you still have eleven left!
Too often Internet marketers forget to look at the work they do online as a business. But that’s exactly what it is. You’re investing time and money – in some cases a lot of money – and you need to look at your ROI. Just like any good business person. Just like Donald Trump.
And Donald Trump would never think of spending all of his time and money on just one Real Estate project. You’ll make more money online by building a diverse portfolio of established websites than you will if you just pin all of your hopes on one website.
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