All Your Eggs In One Basket?
But what happens if the niche or investment you so much enjoy suddenly stops working for whatever reason? Are you going to be able to pick up and move on, or are you going to be dumbfounded and lost in a sea of mediocrity without a life vest?
No matter what your niche or investment may be, it will have down times. Remember, people are fickle, and no matter how good your site may be or how good your stocks may be, there will be times where you see a long period of inactivity or loss. If you’re only working in one area, now might be a good time to diversify.
Diversification, simply put, means not putting all your eggs in one basket. It can mean working in several different niches, or it can be putting your investments in different stocks, or it can mean having several different hosts. It can mean much more than any of this.
We all like to make money. For some of us, it’s an addiction. Those of us who are making the big money have found that porn is not the only way to do it. There are some of us who not only got our first dime in porn but who now make more money in our investments than our sites.
Working several niches will give you a more stable income. If you like hardcore, certainly base your main interest there and build as many hardcore sites as you like. But you might also consider teen and single girl sites. MILF sites are also good for the hardcore lover, because it isn’t hard to stretch the imagination to include the action a good MILF can potentially give your wallet.
Now that you’ve laid out your sites and are starting to see some income from them, what you do with that income is up to you. If you really want to continue to see money coming in, you’re going to have to invest it.
How you invest it is up to you. You can drop it into stocks, mutual funds, bonds, or reinvest it in your business. Here’s where that diversification comes back into play.
If you want to reinvest it in your business, make sure that you don’t reinvest it all. Invest in yourself and your future by making sure you don’t put all of your cash into one project. If you put your money all in one area, what’s going to happen to it if that project falls apart?
You absolutely must make sure that you have money readily available. If your investment falls through, what are you going to do? Never, under any circumstances, put all of your dough into one investment. Remember Murphy’s Law?
Be ready when the bottom drops out. If you’re good with your money, you’ll have no problem with moving on. But if you’ve invested all of your money into the sites that just failed, you’re going to be broke. Seriously broke.
Never put all your eggs in one basket. Keep your money safely in several different places and ride the waves of wealth!
Take care of yourselves! ~ Tala
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