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Launch one website, Focus on it and don't split your time
When I started my online journey in 2003, I thought I was going to set up a website, make millions of dollars a year, and retire at the age of 40. I quickly realized that wasn't going to happen unless I really hit online gold and sold my company quickly. That never happened, it's 2019, and I'm still working online to make millions but haven't quite hit there just yet lol.
Profits Come and Go
What I did learn was I had to focus on one website, make it the best it can be, and stop focusing on my 5+ sites in different industries unless I could automate them. I then switched gears and focused on a single website, optimized the heck out of it, added tons of content, and built partnerships across the internet to make it as successful as possible. After I did that, I was making $100k a year and living happily. I then started to branch out again, set up a few websites, and my profits started to slip because I wasn't focusing on my main website again.
Don't Lose Focus
I lost my focus, I noticed my profits were slipping, and I tried to get it back in order, but it never went back up to where I originally was. I still have that website today, some of you might have even been on it, but it's pretty much automated to the point where I only have to focus on marketing and lead generation (which is pretty great). I have it bringing in a stable passive income each month, not as much as it was 10+ years ago, but it's enough to pay my bills and allow me to focus on other sites I know can profit well.
Add On Time, Don't Split Time
If you're starting you, will want to work on a single site, build it up, and make it as profitable as possible before you begin to automate it to a point where you can focus on other sites. You need to add time onto your day, not split your time between the websites, which means your 8 hour day may turn into a 12 hour day until you start to automate.
Automating Your Daily Routine
There are loads of tasks that can be automated, and jobs that a VA can do for you, so be sure to do whatever you can to reduce your time working each day without lowering your profits.
Small tasks that take up time each day can likely be automated, you need to figure out how to do it, and you will be amazed at how much time you can shave off of your day. Back when I was using SEO software to run campaigns for customers, it would take me 6+ hours to set up, run, and send out the reports. I was looking to automate this because I was sitting around most of the time, but in the end, I was able to get it to run, and I could focus on other things. After the campaigns would run, I would export the files to a mailing system I had set up, and every report would get sent to the correct client. I turned my 6+ hours or doing customer orders into just 30 minutes a day through automation. What would you do if you could shave 5+ hours off of your day?
Now, I had shaved 5+ hours of time off of my day, and I started to lose focus on my website. This happened because I had more free time, and I set up a few more sites to try and generate more profit streams. I lost focus, lost profits, and didn't put more effort into my profitable website, and that is what mainly hurt me.
What I'm saying is you should build a website, make it profitable, automate it to a point where you're shaving off hours of work time each day, and instead of wasting those extra hours you should use them to make your profits go up even more. I missed out on this one, but I won't miss out on the next one, and I don't want you to learn from my mistakes.
Think about it; no one has to tell you to dive with great white sharks that are in a feeding frenzy because you'll likely die. No one has to say to you that skydiving without a parachute is dumb because you can figure this out on your own. But you will probably need to be told what I just said above because you may think you're safe with one successful website that could pay the way for more, but you're not. Push your main website as much as possible, automate what you can, and push that same site even more.
The only time you should start to focus on another revenue stream is when you've automated to a certain point where you can't do it much more, added some staff members, and you can focus on something else without your business imploding due to you not concentrating on it 8+ hours a day. A business manager is your best friend when you can afford one lol.
Thanks for reading