Your Internet Business Portfolio: Know When to Hold ’em, Know When to Fold ’em.

Entrepreneurship Education / Sunday, February 22nd, 2009

Things change quickly in internet time. New ideas are born and often
die before most folks even find out about the initial thought. Such is
the case with, the social network I created for those who love social networks.
I billed it as the place to satisfy your social networking addiction.
The irony is that I found I didn't have time to keep posting stuff and
more importantly, during the month it was up and running, I didn't see
enough interest or visitor traffic to justify the effort.

It was a good idea but without real interest or more effective
marketing, it became less fun and more work than worthwhile. There's a
fine line between giving up on something too quickly and knowing that
you're spending time being distracted by a project that may have little
to no payoff. In my case, deciding to discontinue the social network
has allowed me to integrate what I was doing there within my niche network. I've essentially narrowed the focus in a space where I know I have an interested audience.

My desire to share social networking tips and resources is even higher
now that I'm not trying to reach everyone in the world who uses social
networking sites. I also had an opportunity to put the free forum
creation application,, to good use and can provide those who are curious about using it with my own experienced based recommendation.

When you're working toward establishing multiple streams on online
income, don't be quick to jump from one thing to another–give each
project proper time and attention to make a solid evaluation of whether
it will work for your or not. If you make a little money, that's a good
indication that with proper effort and time you can make even more.

Likewise, don't be afraid to try new things as your time permits and
current projects become stable and repeatable on their own. You'll have
success and you'll experience failure. The key is knowing when to stay
and play and knowing when to walk away (or when to run).

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