As savvy stock market investors know, chasing after the one hot stock with the possibility of bringing instant riches is not a wise idea. You know the old saying, Dont put your eggs in one basket. This type of thinking carries a high risk. If your stock goes up and you are smart enough to sell, then youve made money. However, if your stock falls, you just dont know when (or if) it will ever make a comeback.
With this idea of chasing after the hot stock of the day, you might as well buy a lottery ticket. Diversifying your investment portfolio for long-term growth and stability is the wiser of the strategy. You invest your money over any number of stocks in different industries, thereby spreading your risk across the group.
The same principle should be applied to your internet business. Many of us first arrived online with the notion of building a really great website to reach the masses in hopes of making a lot of money. We later found out that the build it and they will come theory is just that, a theory. Oh sure, there are a few who have managed to create a nice income from just one or perhaps two websites, but even Amazon didnt turn a profit until 2001.
Unfortunately, most of us do not have unlimited financial resources. Many have given up, only to go back to either a corporate job or some other type of work in order to support their family. What they did not realize is that their internet business really should be treated like their investment portfolio.
Why do many of us still try to squeeze every single penny out of one website until its bone dry Its like wringing out the washcloth until theres no water left to drip. Why bank all of our risk in just one site
There is a better way and its called diversification and leverage. How Instead of building one website and beating it to death in trying to get every last penny until it screams no more!... build more sites. In the past, building websites by hand took days and weeks, if not months. Today, there are tools to make this process much simpler and faster and in some cases, you dont even have to know any code at all.
Why diversify and leverage your business across a variety of websites To reduce your risk and to leverage your efforts. Individually, they may not make a lot of money, but collectively, you could create a nice little internet empire of your very own. It will be well worth your time in creating a long-term internet investment portfolio.
To Your Success!
Patty Gale
Patty Gale is a successful entrepreneur who specializes in personalization and customer care for all her clients. She exchanged her suits, hose and heels for working at home in her jammies and is on a mission to empower other women to do the same.
She can be reached at
The world of Internet marketing isnt all its cracked up to be. In fact, it can be a brutally cold one. Believe me, I learned the hard way.
I started trying to make money online when I was 14. Like today, there were a lot of scams out there, and being so young I was especially vulnerable. I wasted hundreds of dollars.
The weird thing was I was a pretty smart kid. I knew the value of a buck. But when I came online I didnt think that real world rules applied.
All too often people come online and lose all sense of reality like I did. I see two types of people who fail online.
The first type of person thinks EVERYTHING online is a big scam. They dont think they should have to pay for information in e-books or for tools they will need.
If you have to put money into your Internet business, its a definite scam. They also may be freebie seekers and try to suck all your time and knowledge away for free.
Dont get me wrong. You should always have your Scam Radar up when youre online. But lets think about this logically. Can you startup an offline business without investing any money into it Even a small family owned business requires some startup capital.
So why would an online business be any different Starting up an online business is a lot cheaper than starting an offline one, but the same principles apply. This is what economics is all about. People make money by providing a product or service to their customers. It works the same way online.
The second type of person thinks the total opposite. They throw all judgment and common sense out the window and usually dive headfirst into a whirlpool of scams.
They join downline clubs, gifting clubs, Send $5 to everyone on this list programs; they usually spam people and end up wasting a whole lot of money. I should know. I used to be a Type 2 when I first started out! I dont know why, but I just figured the Internet was a magical wonderland where money fell from skies of gold. Then I woke up.
Type 2 people give legitimate online businesses a very bad name. In fact, they are usually the ones who turn people into a Type 1! After seeing all these scams, its no wonder some people look at the Internet as one big con.
Type 2 people usually give up eventually and walk away with a bad taste in their mouth. They also end up looking at the Internet as one big scam.
Then there is a third type of person, and hopefully you fall into this category. They see the wonderful potential of the Internet and online business, but also realize that the same universal laws of business apply. They are willing to learn what works, invest time and money in their business, and be patient and persistent.
I realized after awhile that you shouldnt try to make money online. Thats too vague. You should start a legitimate business and treat it as a real one. And thats what type 3 people do.
Dont these people make the most sense They also make the most dollars (Get the pun! ;)
Copyright 2005 Michael Murray
Michael Murray is a 22-year old full-time Internet marketer and college student with Cerebral Palsy who lives in sunny Orlando Florida. He recommends CBmall for both newbies and advanced marketers as a way to earn some autopilot income. Get your free CBmall Report, 15 Ways this automated system puts cash into your pocket!, by clicking the link below. You dont even need a web site: