Well despite being very low on budget, now i already own a website and this website needs some more improvement and need marketing. At the same time i have another idea, and i have a little money, i don't know if i spend it on my old website or invest it in the new idea? Infact i am getting tired of my old dating website, 8 months old and only around 4 visitors a day! I am thinking to go for the new idea, and i don't know if its going to work, because as usual many competitors.........
You should focus only on one site. If you run 2 sites at the same time, you will get distracted which is not good for your business.
Perhaps we could give you some advice. What are the two different sites you are talking about? And I agree with orik. If you spread yourself thin with too many projects, you are unlikely going to succeed at anything (unless you have lots of time to work on them). Online marketing and SEO take a lot of time, energy, and resources (maybe even money). If you only have a bit of time and money, you should pick the project/site you like best and focus on this one. However, none of us here can give you any additional advice unless you tell us what these two sites are. We promise not to steal your idea ;-)
It's really hard to make money with dating sites because there are millions of them already, and only a handful control about 80% of the market - plus they're quite hard to promote because everyone hates to link to them because of their association with spam. If your other idea is a better one it might be good to concentrate on that instead and dump the dating site.
if its as usual there are many competitors, then its not a good idea try another or use less competitive keyword.
try to improve the actual one and get back the lost visitors in the way that you create more attractive pages, more information and drop the useless ones. your site is already known, you just have to improve it.
Even dating sites are many right now you can succed as long as you try make different from others site that already exits right now.
Good ideas, your on the right track. What's the niche you are in? You say there are a lot of competitors.
why dont you just promote your dating site for your area, say local town or local city then you can also advertise around town via posters etc