Don't Put Eggs All in One Basket

Discussion in 'Self Employment' started by Hannah Davis, Apr 20, 2015.

  1. Hannah Davis

    Hannah Davis Active Member
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    This is a saying that many of us have no doubt heard before. Basically is means don't rely on just one thing and place all your effort on it. I think this philosophy would apply to working online.

    As someone who has worked online, I have learn this the hard way. Relying on one website even if it is bringing in good money isn't a good idea. Why, because websites can come and go along with the money that is being made there. So, if I have learn anything earning money online its that I try to work for more then one website. This can have other advantages along with not relying on just one way for income, another advantage can be if one website doesn't have too much work or opportunities at that time, then go to another.

    So, this is advice that I have taken to heart and wanted to share with all of you. When it comes to working oinline don't put your eggs all in one basket.
     
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  2. Ruth Belena

    Ruth Belena Active Member
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    The website that provided me with most of my online income from 2008 - 2013 changed ownership a few years ago and has now closed down. Fortunately I was not relying on it and always had additional sources of income, which have changed over the years.

    I've been self employed since 1998 and, even before I used a computer, I developed various income streams so I did not have to rely on a single source.
     
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  3. Richard Paradon

    Richard Paradon Well-Known Member
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    There are so many good sites that eventually get greedy and all of a sudden, it is impossible to pull a dime out of them. I have a few decent clients whom I do work for and they always pay me well. In fact, one person actually pays me up front. But they are few and far between.
     
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  4. Ina I. Wonder

    Ina I. Wonder Very Well-Known Member
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    Before my Michael became ill and passed away, he was always trying to find work online. But generally he just lost money on start up kits.

    So I'm curious, just what kind of work are ya'll talking about? Is it all about editing other peoples written work? Or are you building new site? There is something here that I'm not getting.

    Someone please explain. Please!!
     
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  5. Von Jones

    Von Jones Very Well-Known Member
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    @Ina I. Wonder I participate in a variety of surveys which is self explanatory. Others may have blogs or write for websites either topics of choice or specifically that chosen by the site owner(s). You can also proofread/editor articles. There are some online jobs where you do a variety of tasks. I tried this and wasn't very good at it. You really need to be internet savvy - knowing what a tagline or a keyword is and a lot of other internet jargon. There are online jobs for customer service from home or virtual assistants from home.
     
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  6. Ina I. Wonder

    Ina I. Wonder Very Well-Known Member
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    @Von Jones Thank you Von, I'm not really wanting to work online, but I did wonder what was out there. Michael had done some survey work, but that didn't pay much. Then I started reading about people who have been supporting themselves for many years by working online. So I was curious as to what kind of online work could possibly pay that kind money.
     
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  7. Ken Anderson

    Ken Anderson Veteran Member
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    It's not much different than working offline, in that you've got to develop the skills or the contacts, and be willing to work very hard at it, especially before you've developed the skills and the contacts. It's not true of everyone, I'm sure, but a lot of people lie about how well they are doing in their various online endeavors, but it is possible earn a living online.
     
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  8. Richard Paradon

    Richard Paradon Well-Known Member
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    Beware of the ads that say they earned $20,000 or more last month and will teach you their secrets for only $50! Let's face it, If you made that much money would you really want to share the secret and do you really need my $50? @Ken Anderson knows a lot more than I but he will probably concur!
     
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  9. Susan Long

    Susan Long Active Member
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    Great reminder Richard. It is sounds so great, it probably is not so great. We all have to use wisdom when it comes to money decisions.
     
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  10. Richard Paradon

    Richard Paradon Well-Known Member
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    Now if you really want to send money out for no return, Susan, I will be more than happy to give you my paypal account number!
     
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  11. Magalina Lilis

    Magalina Lilis Active Member
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    Yeah, but it is crazy how many people do fall for scrams and how many do ask for your PayPal account. I have had people do this more then once! It usually happens, when I am selling off from Craigslist.

    One word of caution, if you ever decide to work online, before investing into a start-up kit, search for reviews. Personally, I have never paid anything, except for the routine cost of a hosting site for my own website.

    Also, the venture should spark some kind of emotion with you. This allows you to carry through and persevere in a successful venture. Even, if you do something like surveys, as suggested by Von, you need to enjoy spending your time doing this type of activity. Personally, I do not, but my daughter does like to do this activity in her spare time and makes some spare change.

    I enjoy music, so I spend some time writing up my opinion in a short review. Granted, I do not earn a substantial amount of money to support myself. Nevertheless, I do earn enough to save for some fun event. Currently, I am saving up to go to a concert.
     
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  12. Joe Riley

    Joe Riley Veteran Member
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  13. Pat Baker

    Pat Baker Well-Known Member
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    Not only online but offline you do not want to put all of your eggs in one basket. I always try to have two or three sources of income, to avoid a down turn in income. Even when I workded 9-5 I had something on the side.
     
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  14. Corie Henson

    Corie Henson Very Well-Known Member
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    At this early, we are already contemplating on what to do with my retirement pay. it's not really healthy to just put the money in the bank because the interest is very low. However, a business is far from my mind because I am not a business person and I might just lose my investment when I run out of luck. Right now we still have no decision on that money that will come 8 years from now.
     
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