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Solo Build It Mastery Lesson
33 - What The Banning Of Online Gambling Means For Your Your
Solo Build It Business...
The US Government has created legislation to ban online gambling for US
citizens...what does this mean for your web business?
A lot, actually.
What could it possibly mean for me I hear you thinking, my site is about home
What this shows is that you can NEVER rely on any one source of anything. The
absolute WORST number in any business is 1.
One big affiliate program paying most of your income, one source of website
traffic, one product to sell, one staff member or contractor helping you with
the books...you can't afford to have one of anything, or you are totally at the
mercy of change.
I read today that this change in the law resulted in a $7 billion investment vaporization. In a matter of seconds, a $12 billion industry lost 60% of its market capitalization.
How would you feel if tomorrow it became illegal to renovate your home?
Maybe, but there are countless other examples of multi billion dollar
business models being killed or severely damaged overnight by changes that swept
their industry, whether by legislation or changing technology.
The railways industry, tobacco companies, television Infomercials were banned
at one time, people who use cold fax broadcasts can't do that any more in many
cases, the Do-Not-Call list for telemarketing companies...the list is long.
So, what does the banning of online gambling mean for your business?
It means you need to diversify your income, traffic, sales and marketing
systems so you don't wake up one morning to find your business killed off by an
Don't rely on search engine
traffic for 100% of your website visitors
Don't expect Google Adwords to
always send you an unlimited number of visitors for 10 cents a click
Don't rely on one website for
100% of your income
Never spend up big because you
had one good month expecting next month t0 be even better (I've done this in
the past :-)
Always keep backup copies of all
of your web pages in case your web host's server goes down and you lose
ALWAYS keep a backup copy of ALL
your customer and prospect email lists in case your list server crashes
Don't rely on one office helper
or contractor for everything - one day she will
leave, rip off your client list and sell it to your biggest competitor, cook
the books and steal your money, report you in to some government body, or
generally do something (insert bad thing here) that takes your business back
months, or even years
...in other words, never rely on one person or thing for anything in business
- you WILL be disappointed at some point if you do.
Create backup systems for everything, multiple streams of everything, so your
business can continue to flourish no matter what anyone does to you.
Develop a 'healthy paranoia' that keeps you on the lookout for problems
before they derail your business.
Don't live in fear, expect the best, but plan contingencies for the worst,
just in case.
You'll be glad you did if the financial tsunami ever comes to visit your
business or industry...like it has just done to the online gambling industry...
Create as many pages based on
long-tail keywords for your site as you possible can - link each of these
'buying keyword' pages to a specific affiliate product or something you sell
Bid on hundreds of Google
keywords and create specific landing pages for closely related groups of
words, all linked to a specific product offering
Plus make sure you use Yahoo
Search Network and MSN's
Ad center for additional Pay-per-click traffic
Write multiple articles and use
Article Marketer.com to submit your article to thousands of online
publishers instead of spending time doing it by hand
Exchange links and articles with
webmasters in markets related to yours. Use Value
Exchange to find related link partners.
Diversify your income streams
among multiple affiliate products in different price ranges to insulate
yourself from the collapse of one large merchant
Create additional web businesses
in related or totally different niche markets to insulate yourself from a
collapse in your industry
Use several different outsourcing
personnel from different sources (Elance.com, Guru.com,
WorkaholicsForHire.com) so you aren't totally dependant on one person for
Backup everything - your web
pages, your articles, your customer database (twice in two separate places,
it's your most profitable business asset),
your computer's hard drive...everything!
I hope this article helps you to protect your business and allows you to
handle the inevitable problems that will occur in the future.
To your success,
P.S. Having problems? If you'd like a hand with anything to do with
getting your Solo Build It site performing at it's best, make
sure you visit my services page to see how I can assist you in getting the
most out of SBI.
P.P.S. And if you want to
move on with the next lesson, or review any of the other lessons in this
coaching course, you can by visiting