If you’ve ever invested in stocks and shares then you will know that diversity is the key to success. You would never invest all of your money into one company, instead you spread your risk by investing in a wide number of companies. To build a successful online business you need to apply the same principles and not put all of your eggs in one basket.

Diversity in Internet Marketing is all about using a number of different monetisation and traffic generating strategies. Instead of focusing all your time and effort on one website in one niche you could build several websites in that niche, or better yet build websites in multiple niches.

Instead of just using Adsense as the way you monetise your business you could also consider affiliate products or even creating your own.

Having a variety of business models can protect you if one of them changes or is no longer viable. Here are the three keys to successful diversification.

1. Don’t do too much too soon

You can’t do everything at once because you just don’t have the time. If you try and operate too many websites and income streams you are unlikely to make any money at all and this can be so disheartening that you just give up all together.

Instead you need to focus your attention on one method until it becomes profitable. Then you can either leave it running under its own steam or employ a virtual assistant to manage it while you move onto your next strategy.

2. Broaden your horizons

The easiest way to diversify is within the same niche. Once you have created one successful website think about ways you can expand within that niche. For example let’s say you have a successful weight loss website that talks about diet pills and slimming aids. You might want to consider a complimentary move into exercise or beauty products. This way you are broadening your business model but can cross promote to your existing customers.

3. Don’t carry excess baggage

In an effort to keep their business diverse some marketers hold onto the proverbial dead ducks for way too long. If you have a website or product that isn’t performing then you need to get rid of it. Excess baggage just takes your time and energy away from other more profitable activities. You might even be able to sell the site or product onto another marketer who will be glad to take it off your hands.