When Starting Out, Try To Concentrate On One Project At A Time

[Domain Author]

Newcomer domainers tend to develop too many websites at once.
They tend to follow this method of thinking: "If I make 10 websites which bring in $1,000 a month each, I would be making $10,000 per month."
Although this theory is in line with the popular saying, "Don't put all your eggs in one basket" which Warren Buffet follows, and provides multiple stream of income, it is impractical for someone just starting out, to focus on multiple projects.

A better technique when starting out would be to concentrate on one website which makes $5,000 per month than to monetize 5 websites for $1,000 per month.

If you consider running websites as running businesses, then you would be able to see the fact that it doesn't make sense to focus on 20 businesses at once.

The possible alternatives could be:

1) Weigh all your options carefully by joining affiliate programs, lead capture, selling your domain to end users, etc. Experiment and figure out what works best for you as development is not the only option you have.

2) If you are planning to develop your domain, try to create a road map. Try to question why are you developing the domain instead of parking or selling it. Will it create an impact? Which niche to target, how to monetize and how is the market for the keywords you would be targeting. Having answered such question, go ahead with development.

3) Concentrate on one project first, try to experiment on what works. When it works, use the success of this project to create your next one.

4) Put up a business plan for the project you are going to undertake. After you have eliminated all the possible loopholes, proceed with the project.
Once you start, the idea is to keep the cash flowing. That is how you grow.
Once you have the capability to launch and delegate multiple projects, go ahead with the plan to launch multiple projects.

 

[Biggie]

don't see the logic in this advice.

first of all, majority of "newcomer domainers" are not developers of websites.

and how many websites a skilled developer can produce, shouldn't be thwarted.
that's a decision for each individual to undertake, based on their motivation, capital, ideas and other projects they may already have on the table.

as, if one is or has "developer" skills, then if they make more than 1 website....that's not putting all eggs in one basket.
10 sites can produce 2 winners that can provide income to produce more websites

as opposed to making only 1 website and depending on single source for revenue.

additionally, warren buffet has goo-gobs of businesses which he runs quite successfully, so don't see how that applies.

it's like saying, only focus on 1 domain at a time.

concentration and experimentations are givens and a plan is a must for any venture, however the suggestions are confusing because it's like you're trying lump newbie domainers in with website developers and the two are not the same.


imo....