Making Big Bucks: Trying Something New -VS- Sticking With the Basics
I would estimate that 99.9% of internet entrepreneurs are in the business for the sole purpose for making/raising money, or spreading the word about their product/idea/company. When a company wants to make money, they have two options for what to do:
1) Try to create a new website with a totally unique concept that hasn’t been done before.
2) Stick with what they know, and the different types of websites that normally provide a solid income.
Those are the most likely the two biggest things a business must evaluate. For option number 1, the risk you take is not knowing any types of statistics, or numbers, that can help you figure out whether that concept will be successful. For option number 2, your risk is simply, competition. So each has their own risks involved in it.
Trying something new normally will either prove itself to be a complete success or total fail. There are exceptions, but that is how trying new concepts normally goes. Right now, I am trying to develop my first website that is a totally unique concept you won’t find anywhere else on the web. I haven’t seen the results yet, but I will certainly share them to viewers. Also, another big issue I have now experienced, and most experience when creating a new concept is expenses. It tends to be a lot more expensive because if it’s a new concept, it normally needs a lot of customization to the website, and also to create a website that is fully functional.
Sticking with the basics is something I have done before. I built a PTC (paid-to-click) website, which is a relatively new concept, but there are a good number of PTC websites out there, including many big ones. I made it, promoted it, got many users, and made a lot of money. I ended up selling the site for an undisclosed amount after I figured out it was too time consuming, but I got a very nice return. So sticking with the basics can really pay off. But there are plenty of PTC websites for example that completely fail. I think if you are going to stick with the basics and build a website that isn’t a new concept, you need to know how to market it correctly. You need to also be willing to of course put some good money into that marketing. It’s important because you have competition, who you want to beat out.
Anyways, what do you guys think will make you bigger bucks in a general sense, new concepts or sticking with the basics? Please comment below, I think it would be interesting to see what everyone has to say based off and on personal experiences.
Anybody who is just starting out has to stick to the basics. Once you got a little room to play with though, you should always experiment as much as possible and try to establish yourself as being as unique as possible in whatever it is you do. You need to be known for “killer” something. This is how you get noticed by the masses.
Since I’m new to the domaining world my plan is to stick with the basics and establish/develop and purchase as many PPC domains as possible my first 2 years. When I have enough up and running (developed) which generate profit (after renewal fees and hosting) I will start running a few niche blogs (with stuff that interest me) and develop webapps.