Internet Business Blog

While I sit here watching the US Stock Market tank nearly 400 points (so far) since the opening bell today, I can’t help but have concerned thoughts on my mind. One can make the statement that this is only the beginning, and thanks to sub-prime mortgages and the slew of other market related issues on the horizon – but it’s hard to say that we haven’t been warned. Yet still, all too often people throw their entire nest egg into a single basket and pray to whatever they happen to believe in that everything will work itself out. That my friend is no way to live, and if there’s one thing that I’ve learned (thanks market 1987, 2000) it’s that you should never throw all of your eggs into one basket.

The Internet is no different.

Websites and Internet Businesses will come and go. Some will be modestly successful, and some will be extremely successful – but most will never be a “success story” and will ultimately fail. I feel that it’s important to remember this because if you are an Internet Entrepreneur, you should never rely on one single website or income stream to put food on your table and shelter over your head. The internet is so fast paced that what works today might no longer work tomorrow, and what works tomorrow certainly will not work a few years from now!

If I sound as If I am bitter in this entry I am certainly not. I have done extremely well for myself via the internet and will continue to do so through hard work and multiple channels of income. In fact, I own 30 domain names. Of these 30 domain names, I have developed three of them and parked the other 27. I make a small income on each parked domain as well as a modest income from each of the three developed sites (including ePursuit.net). I also own a web development firm and participate in affiliate marketing programs.

Why am I telling you this?

Say that I have a bad month with my web development / consulting firm. Though this hasn’t happened yet (knock on wood), slow downs are inevitable in business. Even If I have a slow month with my firm, I am able to work extra on each of my other channels of income (domain parking, site revenue, affiliate marketing) to pick up the slack. If things get really ugly, I can also sell one of my websites.

I feel that it is very important that we all have other sources of income beyond our “main project” or business. Like I mentioned earlier, we work in a very fast paced industry and what is making millions today could be making next to nothing tomorrow.

Food for thought! Any comments?

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