When it comes to building an online business (or any business, for that matter) It’s important to not put all of your eggs in one basket.
For example, earlier this week Google announced that it was banning ads for cryptocurrencies, and Bitcoin plunged a lot.
The same thing happened earlier this year when Facebook banned those ads too.
Bang! With one move a bunch of entrepreneurs lost a lot of money.
(Before I get flooded by messages from people defending Bitcoin etc, I’m not saying that it’s dead. It’s not my thing, but all the power to people who are into it).
These changes means that if a Bitcoin-person built his business plan on Facebook or Google ads, that plan now has to be thrown out the window.
That’s the problem with relying on just one way to get business – if the rug gets pulled out from under you, you’re screwed.
Someone told me recently that Google makes 600+ changes a year, and I’ve talked with others who lost all of their traffic (and their businesses) because of just one change that Google made that pushed them off the first page for results.
Instead of relying on just one source, I prefer to build my business using a bunch of different baskets.
I get clients from podcasting, I get clients from Facebook/my Facebook group, I get clients from my email list and other places.
So if one is taken away, I have the other places to get business.
I’m not predicting that Facebook is going to go away tomorrow, but who knows? (That’s why I’m such a big believer in having an email list, since you own and control it).
My advice is to find a few things that you’re good at, and build your business with them. Never assume that just because one of them is around today that it’ll be around tomorrow.
Some may call me pessimistic for thinking that way, but I think that’s just being realistic (and smart).
Now to my pitch …
My 10 Clients In 90 Days group program helps coaches build up several revenue streams over the 12 weeks that we work together.
The next group starts up in a few weeks, and there’s still room. Join us here:
