Most of us have heard the saying “Don’t put all your eggs in one basket.”

According to Wikipedia: “Don’t put all your eggs in one basket is a idiomatic phrase meaning that one should not focus all one’s resources on one hope, possibility or avenue of success. It can also mean not to treat everything in one category the same, and not to view everything as the exact same.”

In many cases, it can apply to a variety of things in our life.  If we don’t have a backup plan, things can go badly. The phrase can also apply to our online businesses. For example:

• A website that relies solely on free search engine traffic can be in for a rough road when a lot of that free traffic dries up.
• A business that has only 1 single-purchase product and has nothing else for satisfied customers to buy.

These are definitely good examples of potential problems with eggs in a single basket. But have you ever considered that in many cases, multiple baskets can actually be BAD for your business?

(Disclaimer: These are general comments…every business is different, so consider these thoughts as they apply to your own unique business.)

Although, I’ve talked about it before (and my opinion has NOT changed based on experience working with many Internet marketers), I have to mention it again:

Beware the Pitfalls of Hyper-Niche Marketing:

You know this one…the idea that you try to get into as many hot niches as possible to cash in. Unless you run a large operation, with dedicated staff/contractors for each market/business, you’ll likely do much better by focusing one highly-targeted market that you can really go deep with.

When you dabble in so many markets, you barely touch the surface and you don’t really get to know your audience imtimately. And if you don’t know them, it makes it harder to eke out maximum profits. When you take the time to know your market and dedicate yourself to serving them…you’re results will be far greater with less work (i.e. fewer mailing lists, websites, ghostwriters, support centers, etc…to manage).

But realistically, for most of my readers, I’m probably preaching to the choir. You’ve taken note and worked to focus on that profitable market…but then I noticed another alarming trend:

Too Many Products, Projects & Pursuits:

Let’s get to the nitty-gritty here. If we only have one basket of eggs and we drop it, we’re in for trouble. But seriously, if you’ve got a ton of baskets to carry…how the heck are you going carry all of them? It’s tough to do THAT many things well.

My head sometimes spins at how fast some people churn out new products and projects. I know that some people may feel the same way when they look at what goes on at Internet Marketing Sweetie…but most of what has been developed here has been done over several years and for the most part (yes, sometimes I have my weak moments of wanting to do it ALL), are put together with a clear and controlled plan in mind.

Why People Try To Do So Many Things: I am not a mindreader, but I do have the opportunity to see behind-the-scenes of a lot of online businesses and I pay attention to what Internet marketers (in all markets) say and do…so here’s what I think:

• They think if they have more products/projects, they’re likely to sell more. It’s following along with the long-tail idea, but many Internet marketers don’t follow the logic fully. The long-tail is not about half-heartedly selling or putting in so-so marketing efforts and then moving on. Take a look at your own serial product/project manufacturing…have you left some gems behind?
• They need more products to sell their current customers. Yes, every business needs repeat customers, but there are ways to achieve repeat business without launching product after product.
• They get bored with what they’re doing. Yeah, I feel you…but online business isn’t about whims….at least it can’t be all about them. Sometimes you’ve got to stick with what works, breath new life into it and make it fun again. And if it ain’t fun, outsource it!
• They can’t say no. When people ask them to work on a product or project, they feel like they can’t say no. Or you might be like me and have a thousand ideas you want to explore. Ummm…you gotta get over this one. One person can only do so much and you have to be able to say no to yourself and others.
• They think the grass is greener on the other side. Going along with the inability to say no, some people think that if they take this new opportunity, try this new thing…that will be it. Doesn’t always work that way.

If any of these apply to you, take a long hard look at where you’re going and if you really want to go there (stress, working too hard, juggling too many things). Here’s a few tips that might help…

How to Get Your Eggs More Organized

• Take a look at what you’ve really got going on in your online business. In fact, here’s an easy way to put together your online business inventory (it’s an eye opener!).
• Find the gems, polish them and focus on them. Forget the rest. This does not mean 1 product, 1 website, etc….not at all. Just stop searching for the latest and greatest when it’s probably already under your nose.
• NEW -> Work on Promotions/Marketing Instead of Making New Stuff: Create new promotions for your products, advertise, motivate and get your affiliates into action.
• Add continuity. Create products and services that have your customers/clients paying you month after month.
• Get them to pay more. Create a product funnel for your customers that increases the value they receive and the profit you get in return. You have less work to do and your customers are more likely to be more satisfied.
• Learn to say no and look away. Decide what’s really important to you (ex. making maximum money with minimum effort, more time with family, etc.) and learn to shape your decisions around that.

How you manage your eggs and your baskets is completely up to you…but don’t make it harder than it has to be, k?

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Eggs in One Basket”