What are Niche Market Sites?
These websites have a limited market and are often small. The website that focuses on fly fishing is called a niche website and not a site about fishing as an entire sport.
Your website will be solely focused on one subject and provide little information about other topics. Visitors to your website will feel confident that you are the authority on the topic and will return to your site for further information.
You will teach him fly fishing techniques, show him where fly fishing is possible, and then sell him the equipment. Finally, give him a place to boast about the fish he caught.
What are multiple revenue streams?
This concept is not new, but it has been around for quite some time. I consider it income from different sources. Multiple income streams can be connected to each other, complement each others and pick up when the other is down.
A second job is one example of a new revenue stream. A commission on top a salary is another example. Multiple revenue streams are possible if you have each of these.
The Niche Market Website is Not Supposed To Be a Source Of Wealth
My suggestion is not that you should quit your day job and earn enough money to retire early by selling fly fishing lures. In my articles, lectures and consultations you won’t find me promoting the notion that you can achieve wealth by only focusing on a niche market. I do not believe the average person can become wealthy by using a single website.
It’s similar to someone opening a convenience store, or fast-food restaurant. The single business will not bring them wealth. You will see convenience stores and fast-food chains.
Create your niche, then get pregnant
Your niche is what you should be targeting and your website will reflect that. Optimize your website, be friendly with search engines, and attract a crowd. You can make your site more profitable, and then you can become pregnant. Multiply this and you’ll have a whole liter of niche market websites. You can always do it again after you’ve finished with the first liter.
Since a long time, a dear friend has been keeping an eye on our operation. He would often ask me if the website could be a source of income that can support our family’s lifestyle, without having to leave our home. He didn’t stop looking at the first site as a source of income.
I wish you could have seen the look on his face when he realized that multiple revenue streams were possible for niche market websites. It was so good that he was still sitting when he finally understood.
I assured him that we weren’t going to be content with one site. It was not possible for us to devote all of our effort to one site and live or die by the success of it. Our company was founded around multiple revenue streams. Each market has its own unique business cycle. We believe that multiple websites can provide stable income.
It was a hard task to build our first site. We chose our shopping cart platform and templates for our first site. We created our company, our salestax account, bank account, credit card processing, accounting system and order processing. Our other sites were more copied/paste than we did when creating them from scratch.
Each subsequent site was simpler to build than the one before. To get our first site up and running, it took over a year. From conception to ordering, it took us just a few weeks to build our 10th website.
Do the Math
Let’s assume we are looking for $10,000 in monthly profit. You think it’s possible with one niche market site. If we were to earn an average of $20 per sale, that would mean 500 orders per week or 16 orders per hour. Although it is possible, it is difficult, high-risk, and highly risky. The site is also susceptible to market fluctuations. It doesn’t seem like sound financial planning for us to invest our entire life in the success of one site.
Let’s suppose that there are 10 niche markets websites making $1,000 profit each month. Math calculates that this would also be $10,000 per month. An average order of $20 would mean that we have less than two orders per site each day. Is it possible? Yes, it is possible. However, the risks are spread over 10 sites so we are less vulnerable to market cycles.
This is just one example. Let’s say 20 websites are making $500 profit each month. It also works out to 10,000 per month. An average of $20 profit per sales, we would require less than one order per website per day. We would require 25 orders per month for each site. Is it possible? Absolutely!
It’s still an enormous effort. These sites will require effort to maintain and market. You should be able duplicate your efforts on any subsequent site if you did a great job with the first 안전놀이터.
We now spread our risk across 20 sites so the risks are much lower. Although it is possible for one site to go bankrupt, it is not impossible that others will take their place.
There are very few chances that all 20 sites could be located in the same sales valley. It’s unlikely. It is not possible to have steady markets in your niche markets, which will be up during holidays.
Multiple Revenue Sources is the Safe Bet
Your income is your most important asset. You can take the secure route that has multiple streams of income. No matter if you’re an entrepreneur or a worker, don’t put your family at risk by being dependent on a single source of income. You can protect your family and yourself by having multiple income sources.
It is important to consider all the possibilities that multiple websites can offer if you are interested in an Internet business. If you plan well, you can build a group of websites that complement each other and grow together to bring you steady income.
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