Stick to What you Know
January 21st, 2007 by asianTom
I’ve tried many different types of businesses on line, and the ones that have become the most successful are the ones I have an in depth knowledge of. It also helps if you have a passion for the subject you are involved with.
Many times I have read about a successful business and tried to enter or emulate the business with little success usually cause I had no passion in it. I once read about a perfume site that was doing $10 million a year in sales, and thought I could do the same. I bought the domain names and started developing a site. After a few days the idea just fizzled and now the site sits unfinished.
What I have realized is that the thing I am most passionate about, continues to make me the most money. My focus now is on only a few things in a very niche market. When you’re looking to start a new business to get into a new venture, my suggestion is to stick to things you know or have a passion about.
If video games are your passion, start a gaming site. If pets are your life, start a site or business revolving around animals. When I look at the people that are extremely successful, they all have one common characteristic. They were head over heels about what they were doing.
Hey Tom: So what type of things are you into: adsense , arbitrage, affiliate…
And, do you create sites on topics you’re familiar with like? Once you tap all those ideas, how do you find new ones?
Thanks
Hi Rick, I use adsense, and some affliate, but my success has come from private advertisers for my member based sites.
I stick to topics I know and when I run out of ideas I look to hobbies or subjects that interest me. A good place to find new topics is to read magazines dealing with business those have really helped me. What kind of sites are you running?
2 Very niche real estate sites. Doing just about $5k monthly part time w/ adsense. I was doing a couple thousand monthly - topline - w/ affiliate offers and ppc, but it was time consuming and at the end of the day was only yielding 20% on my $ which doesn’t make up for the time spent.
Not sure what to do next since I’m at top of SERPS for my main adsense sites and upside is limited with the current portfolio of sites. And, not looking for that incremental increase….
Rick I know what you mean. Finding new ideas can be tough at times, and with real estate not being hot as it was could hurt your sites. I’m interested in taking a look at your sites if you want to share….
that’s true bud, i tried to imitate other business sites only to fail in it because I don’t passion in it
Hey guys, hope you don’t take offense to not sharing my sites. They are so niche and so non-competitive that you could get a site up and rank right behind - or ahead - me in a couple months…not saying that you would, but anybody who reads your blog might.
I actually just came across a very interesting MLM offer. I work for an online marketing company and my client asked me (we built his website) to become an affiliate in an MLM. It hasn’t launched yet so it’s ground floor (no upfront expenditures or anything shady).
Anyhow, the company did $2billion with their last MLM. I’ve never done anything like this… what’s a good way to find out about building and promoting an MLM product….?
why don’t you share with us your sites so there can be some frame of reference. Email them to me, thanks.