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Don't put all your eggs in one basket

Discussion in 'Affiliate Programs' started by whitespider, Apr 8, 2006.

  1. #1
    This would be the advice I would give anyone consider affiliation of any kind - including Adsense.

    I learned from experience about 2 years ago. I was making around $400 a day (profit) from one affiliate scheme and then they suddenly disappeared. Apparently they were just not profitable (affiliate scheme was 33%).

    I know some people who would give up the day job for that money but never count your chickens. Since that day I have set myself a regime of having 12 schemes at any one time. If I find a good new one I will test it and then drop my least performing to make the time management realistic. If I lose 1/12th of my income now it won't hurt to much and can be quite quickly replaced.
     
    whitespider, Apr 8, 2006 IP
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  2. MattEvers

    MattEvers Notable Member

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    #2
    You couldn't be more correct. That's why I am working part-time now. I make 10 times the money on the net as I do at my job, but the job will always be there. I have to make sure I have plenty of streams of income on the internet before I quit for good.

    edit: You must spread some Reputation around before giving it to whitespider again.
     
    MattEvers, Apr 8, 2006 IP
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  3. Halobitt

    Halobitt Well-Known Member

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    #3
    What's do you work as Matt? Is it web related?
     
    Halobitt, Apr 8, 2006 IP
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  4. munt

    munt Peon

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    #4
    same kinda thing happened to me (wont go into details)
    but very nice advice! never heard truer!
     
    munt, Apr 8, 2006 IP
  5. whitespider

    whitespider Peon

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    #5
    Matt - very pleased your are doing so well.

    I'm on around par with my job so far but I am fortunate to have a well paid job. My plan is to emigrate in 2 years time having already bought a house in the far east. I am aiming that my online income doubles by then and is stable so that I effectively replace my total income now. When I move I will sell my current business (the "job" one not the online one) to give me the capital to allow me take a few more risks.

    One of the real beauties of onlione business is that I can run it from a house on a beach or a house in London to equal effect.

    The main things I have learned over the last four years are

    1. Avoid the get rich quick schemes - sure I tried them when I first started as I was as wide eyed as everyone else at that time.

    2. Take time, be patient and do things properly - don't cut any corners.

    3. Find good products to sell - this is generally only achieved by trial and error but it is best to know your market. Try and understand as much as you can about the products you promote - that way you can get at least a little way into the mind of your prospective customers.

    4. Keep extensive daily records to see what works and what doesn't. When I started doing this properly my online income almost doubled. For example I see few sales on Thursdays but then found out I was getting more enquiries that day than any other and they were coming back to purchase at a later date so I upped my advertising on Thursdays whereas many would have dropped it due to the lack of actual sales.

    5. WORK HARD - unless you strike very lucky it a numbers and time game.
     
    whitespider, Apr 9, 2006 IP
  6. MattEvers

    MattEvers Notable Member

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    #6
    No, it's office work. Computers, but boring. :)

    whitespider,

    It sounds like you have a plan, which is very important. Mine is to work until September, then quit my job for good. I recently downgraded from full-time to part-time to have more time to work on my internet business.

    There is SO MUCH money to be made on the internet, it is almost frightning. The problem is that everything is constantly evolving, so the $30 grand a month thing you had going on 6 months ago may not work anymore. Then you have to find the next thing that works.

    This is the reason I try and save money now. I live the same as when I didn't make a dime. People who find something that works, then goes and stops working and sits on the beach all day are then ones who aren't successful for long.

    I'm greedy in the fact I will never be satisfied. Because the moment I become idle and don't try to improve, I know failure may be just around the corner.

    And of course failure isn't an option. (cliche I know, but true :D )
     
    MattEvers, Apr 9, 2006 IP
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  7. Seiya

    Seiya Peon

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    #7
    Well im not planning on getting a offline job but i do plan on getting various income sources online. Thats good advice... imagine getting banned for some invalid reason and hey bye bye money. Its also a good idea to save up the cash and not spend it all, you know just in case :) No, ot stocks, put it in a savings account!
     
    Seiya, Apr 9, 2006 IP
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  8. xboxundone

    xboxundone Well-Known Member

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    #8
    u cant be more correct but this doesnt just apply to website it applies to work and investing.. always be diversified.. the only thing it doesn't seem to work on is women ;) find a good one and stick with em ! :)
     
    xboxundone, Apr 10, 2006 IP
  9. JonathanLyons

    JonathanLyons Active Member

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    #9

    :D :D how true! lol
     
    JonathanLyons, Apr 10, 2006 IP
  10. sunchy

    sunchy Active Member

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    #10
    My Friend,
    I found that also
    But I don't have 12, only 6 :cool:
     
    sunchy, Apr 10, 2006 IP
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  11. john269

    john269 Notable Member

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    #11
    That is correct. I have more than one site just incase one starts going from good to bad with it's traffic meaning less click on ads and less money.

    I am also an affiliate with quite a few affiliate programs just so that if one goes out of business or if one changes the way that they pay their affiliates then I still have a good amount of revenue coming in from my other affiliate programs.
     
    john269, Apr 12, 2006 IP
  12. sunchy

    sunchy Active Member

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    #12
    Yes, I right now have 3 big affiliate programs, but I work and with PPC and with Advertising Networks
    And I have plan for more ....
     
    sunchy, Apr 13, 2006 IP
  13. jackburton2006

    jackburton2006 Peon

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    #13
    Guys, this is an excellent thread. Especially the advices from whitespider and MattEvers. It is extremely important that people don't think what they have currently going now is going to last, because it never does. The Internet is evolving so fast that it's imperative to have as many avenues of income as possible. When I read about people relying on their Adsense, and refusing to diversify, I cringe. Diversify, diversify, diversify!
     
    jackburton2006, Apr 13, 2006 IP
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  14. john269

    john269 Notable Member

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    #14
    Never just rely on one revenue source.

    It is purely insane.

    You are right about something never lasts and that is correct.

    But when you take so much time building up a website then you have to try your best at making it last as much as possible so the best thing to do is get as many revenue sources as possible and a few quality sites that you can easily manage and then all you have to do is move along with the internet times.
     
    john269, Apr 14, 2006 IP
  15. mcfox

    mcfox Wind Maker

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    #15
    Couldn't agree more ... you have to keep evolving with the current trends or one day you wake up and you're making zip.

    Good thread.
     
    mcfox, Apr 14, 2006 IP
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  16. john269

    john269 Notable Member

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    #16
    You have put it alot better than me. I just new what to say, but couldn't think of the words to use.

     
    john269, Apr 14, 2006 IP
  17. whitespider

    whitespider Peon

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    #17
    I am really pleased (and a little surprised) that people found this thread interesting, especially to be getting good comments from some of the highly regarded BMs - I even got 2 green ratings (thanx) but don't really understand (or care) why two (anonymous) people gave me red :confused:

    Anyway - to the point.

    I thought I would add another of my affiliate pearls of wisdom.

    It is often worth "trying" something even if at first glance it appears an unlikely prospect. Two years ago I added a banner advert for an online will website to one of my own sites - and basically just forgot about it. I was very surprised to receive a cheque for £40 and two sales about 5 weeks later. This made me think, if I can make £40 for NO efort what could it make if marketed well. I now make over £3,000 a month from that one affiliate scheme (£2k profit).

    This has required a lot of work and needs meticulous record keeping to track profitable advertising sources but it has led me to have the guts to try a few other things - most don't work and some do. It has also helped me build the various income sources that I mentioned in my earlier post.

    Everyone needs to manage "risk" within their own personal boundaries but I am now a firm believer that if you take NO risk your returns will probably be minimal.
     
    whitespider, Apr 20, 2006 IP
  18. MattEvers

    MattEvers Notable Member

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    #18
    I don't think it could be put any better. ;)
     
    MattEvers, Apr 20, 2006 IP
  19. articlebazar

    articlebazar Peon

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    #19
    Matt, I suspect you're a computer programmer as what I currenlty am. I also wanna run successfully online business, yet it's only a beginning for me. Anyway, there's tremendous in the net which I believe firmly. Great advice!
     
    articlebazar, Apr 20, 2006 IP
  20. john269

    john269 Notable Member

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    #20
    There is a lot of potentional in the Web, but to do well then you have to think fast and act fast. Always be ahead of your competitors. Don't forget there is money to be made on the Web, but there is also alot of people that will be trying to do the same thing as you and may already be alot further than what you will be when you first start.
     
    john269, Apr 21, 2006 IP