Add A New Niche To Your Business And Add A New Income Stream

This is Day 6 of 10 of my tips to help you increase your online business profits in 2009.

By making just a few changes in the ways you handle a few little things each day, you can grow your business and increase your profits substantially.

Stay tuned over the next ten days and I will share ten important ideas that can help you increase your business and grow your profits in 2009.

Day 6 -

ADD A NEW NICHE TO YOUR BUSINESS & ADD A NEW INCOME STREAM

Is there a niche that you have been wanting to pursue but seem to be procrastinating in getting started?

Well, why not capitalize on that niche and go ahead and add it to your business as another profit stream in 2009? If you make a solid goal to add another income stream to your business in the upcoming year, your profits will most definitely increase.

Breaking into a new niche can be easy. Getting into the acne niche (just as an example), can be as easy as putting up a site or blog about acne. Write several articles or product reviews about acne and acne products. If you can’t do the research and write articles yourself, you can outsource good quality article writing for as low as $4 or $5. You can then place Google Adsense ads on your site along with affiliate links. As long as the products you choose to promote with your affiliate links are of good quality and deliver what they promise AND convert well while paying good commissions, you can create a steady income stream from the site. 50-75% commission is the average rate paid for most eBooks and software that is sold through marketplaces like Clickbank.com.

Once you have a site/blog set up with articles/reviews, Adsense and affiliate links, you are good to go! You can promote your new niche site via Pay Per Click (PPC) advertising or you can write articles (or have them outsourced again) and submit them to EzineArticles.com or any other major article directory. It’s anywhere from 5-10 hours worth of work to get it going that will cost you little to nothing and you will have a new revenue stream that will potentially bring in long term revenue.

One of my favorite marketers, Willie Crawford, has 1600 of these tiny little websites and makes a 7-figure income. Now, Willie does more than niche websites, he has an online radio show and works as a joint venture broker, but none the less, all his tiny little websites compose a large percentage of his income. If you want to learn more about Willie Crawford follow the link on his name to a review I did for his membership site of which I’m a member.

This tip will surely enhance your business and increase your profits in the coming year(s), provided you take action and implement it fully. I’m not saying you have to have 1600 niche websites like Willie Crawford, but if one of these little websites can earn you an average of $50 a week, it will only take a few to start earning you a nice secondary income stream.

I have a couple of these little sites and plan to build more of them in 2009. It’s hard to count on just a couple. One of mine was earning me an average of $50 a week and then Google must have done something with it’s indexing and the income abruptly stopped. When you have one site like that, having the money taken away is harder than if you have 10 little niche websites. That little site is now getting back on track, I added some new content, added a couple of articles linking to it to EzineArticles.com and now it’s reindexed in Google. I’m not back up to the previous level but at least the site is getting traffic again. And that’s the key, new fresh content needs to be added on a regular basis and I hadn’t added any for over 18 months (shame on me ~ and Google slapped my hand for it!).

So what if the niche you choose fails? That is what business and being successful is all about, trial and error. Successes and failures, there is no such thing as a perfect world. And most of the time, if you pick a good niche, follow your goals and stay focused, you will succeed. And once you have one success, you can do it again, and again, and again, and again (like Willie did).

Tomorrow – Day 7

PROSPECT

Cheers!

Reba

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