Copyright 2005 Patric ChanHave you heard of diversifying your investment portofilio?
No? Well, it's extremely famous in financial planning.
Those financial planners will tell you that in order for you to minimize risk of lost, you should have different types of investment to generate multiple income streams.
This is to lower your risk of putting all of your eggs in one basket.
Do you know that
same concept applies to your online business?
Let's say you have a niche website targeted for dog owners and you're making a good income each month from it.
Do you know how fragile an internet business can be?
Once someone find out how profitable your online business is, it doesn't take a rocket scientist to figure out how you've achieved it.
Don't believe me? Here are some food for thoughts for you.
If you are getting traffic from Jv partners, what's stopping your competitors from contacting them to offer a better compensation than yours?
Ooh. You think your Jv partners won't take
bait because they are your friends. Fine.
What happen if your competitors end up becoming their friends by end of
month? Heck, they might be sipping coffee together at StarBucks!
Oops. You've just lost 50% of your income when that happens.
Or maybe, you are getting traffic from
search engines. With today's easy-to-use software, it's just a matter of time before your competitors figure out how you get top ranking at Google.com. Is it fair for me to say that they'll want to copy you legitimately to get
same success as yours?