Thought I would ask this in WAHF. What in your opinion is the best way to grow. When you have good cash flow in your business, how do you think of growing beyond a certain point? Do you try to invest in new businesses and experiment them? Or would you be rather interested to do things that are familiar over and over again? I am more interested to hear from people who follow the model of creating a network of sites (Few hundreds) and try to manage, cash from them.
That depends on where you are along your growth trajectory and what your ultimate objective is. Let's say your business provides training to online marketers on how to use email marketing to generate traffic. You currently offer a series of ebooks and video courses that people rave about, and you enjoy a steady monthly income from these products. Now you want to branch out. Here's one option you could consider: create training packages on other traffic generation techniques to sell to your current customers. Since they are already benefitting from your email marketing strategies, showing them additional methods to drive even more traffic would be of interest to them. So every few months you could roll out ebooks and video courses on forum marketing, article marketing, video marketing, joint venture marketing and so on. Eventually you would have a comprehensive range of traffic generation products. This will increase the perceived value of your brand and provide one source for people to find out how to drive all the traffic they need. Your bank account will look really good and your customers will love you. Hermas
Easy... I would get into network marketing online. Spend money on the monthly product. Buy advertising space (PPC). Then teach your team to do the same and that is how you build residual income and get new checks in the mail each month.
samda: Do you try to invest in new businesses and experiment them? Or would you be rather interested to do things that are familiar over and over again? I think it depends on your personality and also the amount of cash you have to play with. If you are willing to take risks and are experimental in nature then the former would do well. However, if you like to play defensive, then the latter would serve well. Either way, I think there should be a mix of both for a healthy growth. Too many experiments are always risky and at the same time, doing the same things over and over can hamper your creativity. There has be to stability in some areas of your life and creativity and openness is other areas. My suggestion would be to have stability in business area (not to experiment too much) and involve yourself in some hobby where you can experiment and open up your creativity.
A8ch Network Marketing Online definitely, is the way to go. There are a lot of opportunities out there to build huge businesses - it depends on your drive and motivation and the amount of time, money and effort you are ready to put into building your business. Treat it like a business and it will reward you like a business.
