Dont Put All of Your Eggs in One Basket
As it relates to business, your 'eggs' are your time and money. Your 'baskets' are your revenue sources and business ventures. You dont want to spend all of your money and all of your energy on a single business venture, or stream of revenue... lest you get caught with nothing at all if the bottom falls out of that one basket.
In an online business, this means having both multiple niches and multiple streams of income - as well as multiple marketing strategies. You dont want to create 100 websites in 100 different niches and use Google Adsense to monetize them all. And you dont want to have 100 different streams of income all flowing from one website. In order to be successful (and stay successful), you have to diversify.
This is the reason that I am constantly testing new marketing strategies, new niches and new opportunities online. Not only am I creating multiple streams of income for myself, but I am learning which combinations work best - which result in higher profits and lower maintenance.
I've caught plenty of flack over the years for various things. Most recently for offering the Death of Adsense report through my site, and talking about it here on my blog. Also for joining the PayPerPost network and getting paid to include text links in my blog posts. Actually, there hasnt been much I've done that hasnt brought a negative comment or two from somewhere.
Constructive criticism I love. Flaming, insults and rude comments I just take with a grain of salt. We're all here to learn, test and make money. And as long as there are opportunities and creative ideas to be had, I'll be here talking about them - openly and honestly (at least as much as my biased opinion & limited viewpoint will allow).
Ironically, the two most recent money-makers through my Internet Marketing sites that caused so much negativity... have already earned more than the one money-maker they both 'questioned'. I'm referring to Google Adsense vs PayPerPost or Pay-Per-Lead Affiliate Programs.
While everyone was running around claiming that Adsense is NOT dead, and bashing the author of that controversial report, I was silently comparing the earnings that resulted from both Adsense clicks and report-giveaways. Likewise, I kept an eye on my running balance at PayPerPost and my running total for the week at Google Adsense.
You guessed it - Google Adsense doesnt even come close to competing against the other two. Not on this blog, anyway.
Of course, this blog is not "optimized" for high-paying keywords. This blog is not heavily promoted using blackhat (or even off-white-hat) methods. This blog was never set up to be a big Adsense earner. It's here so that I can write, and so that you can read. And you know what? Most blogs are...
Most people who LOVE to blog are not huge Adsense earners. They are simply bloggers. On the flip side, most big Adsense earners (who earn primarily from their blog) are not really bloggers. My point - which is my opinion, I might add - is that Google Adsense is not the best way to monetize a true blog.
It can certainly bring in a few hundred good dollars, so I'm not suggesting you strip it off your blog (that's entirely up to you). But how many of you could realistically live on what you earn from Adsense clicks at your blog? Not many at all, I assume.
If you diversify and also include relevant text links and cool offers in your blog posts, you will be adding value to your content... and also going from one stream of income to three. Of course, in order to make that work for you - and increase your income potential - you have to make sure that you are truly adding value for your readers.
This means choosing offers, or even Sponsors, that compliment your content and that your visitors would genuinely be interested in. It also means placing it in such a way as to compliment your content instead of annoying your visitors. And it means using copy that lets them know that they would be interested in it, and why, instead of displaying it as a blatant advertistement.
Yes, it's possible to make money without killing your credibility. And yes, it's possible to earn money while doing your visitors and readers a service. Give it a whirl! Test a few new revenue sources and marketing strategies and see how it pans out for you 😉
Technorati Tags: dont put all of your eggs in one basket, monetization, internet business, making money online, multiple streams of income, payperpost, ppl, pay per lead, cpa, google adsense
About Lynn Terry
Great post Lynn,
You hit it RIGHT in the head there... blogger..blog.. adsense marketers..well...create adsense sites.. great article.. as you know the saying, if they aint taklkinh about ya, ya doing something wrong!
That mean you must be doing something very right.. ;o)
I still don't understand why some people dont get it.. I mean are we to spend hours posting to blogs..for just the fun of it?
Jason Cain was right years ago when he said it on his blog.. you knew that as well as I..
Blogging is fun, and its a great community to be in, but it still has to pay for itself.
If we couldn't at least earn a little from our blogs, as a reward for posting quality, we wouldn't have as much fun or time to do it...cos we would have to do other things to earn and we would.. as you say blogs are ONE avenue..
I know you would admit as much me.. our blogs are NOT the main income we have, its just a part of the income, its reward for having a good blog, posting quality..
Would the knockers rather you didn't blog?
I would RATHER you got your reward for posting something worth my time reading, and that means you continue to post things worth my time reading.
Take care Lynn.
Rob
oops.. that should be "bloggers blog.." left the s out!! doh..