October 14, 2009
By Khalid
Posted In
Business, Domain Names, Monetization, My Life, News, Projects
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Reviewing Risks
I’ve mentioned on numbers occassions (1,2,3) that “putting all your eggs in one basket” was not a wise move. But what if the opportunity held great potential and lucrative returns…?
My recent acquisition of Trout.co.uk has led me to recruit five writers, two of which are respected community figures. Together, Trout.co.uk gets 20 or more posts per month (five per week) and visitor numbers shot up 80% from month 1 to month 2.
I’ve pursuing advertisers, manufacturers, distributors and such to back the site in a bid to create the largest trout fishing websites in the UK. The challenge is a great one, but the potential and rewards far outweigh the risk.
The site is costly to run and currently draining my funds so I’ve decided to offload one or two mini-sites to ensure I’ve got liquidity available at all times. But this means letting go of some profitable sites and placing my eggs in one basket.
Having had a considerable amount of time to think about it, my move is risky but the potential for Trout.co.uk to become a huge angling website is there. I’ve got 101 ideas in my head to offer a fantastic user experience whilst also ensuring revenue is generated without diluting the quality of the content.
Do you think I’ve made the right move?
Good luck with your pursuits,
Khalid.
