You only need a 1 or 2 good business ideas to become rich

TommyCarey Level X³

July 23, 2018, 11:00 am

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Everyone thinks you need 10 or 20 different websites making passive money in order for you to be successful. This is so far from the truth, because there are websites you visit every single day that are the only one in that businesses portfolio, and they are very rich. You only need a few good business ideas to become rich and a few more to become wealthy, which is what we all strive to be when we grow up, so why are we focusing on dozens of niches with various websites and thinking we'll be rich in no time?

People spread themselves too thin when it comes to websites, and that's why a lot of us aren't successful. We don't try to brand ourselves and drop websites if they're not profitable within the first week. I use to do this all the time, I actually had 29 websites up and running at the same time and was trying to push them all towards success, but now I know that's ridiculous. Right now I have 3 main websites and I'm setting up a 4th, and the 3 that are live are making me more money now than when I had dozens up and running. I can focus more on a few things than a dozen things, and that's why you only need 1 or 2 good ideas to become rich and a few more to become wealthy.

Great investors don't branch out much
Warren Buffet once said in a discussion "In invest in what I know, I don't take chances, and I have a better chance at making money because of this" and he's absolutely right!

How many times have you jumped into a niche because you thought there was money to be made but you didn't really understand everything there was to know about that niche? Most of us have jumped in without hesitation when we hear how much money someone else is making in it, but those other people thoroughly know the niche, unlike us and that's the game changer.

Great investors like Warren Buffet won't invest in something they're unaware of or understand, and that's why their investments tend to be more successful, because they know what to look for and can see red flags before the company they're investing into does. No red flags mean it's a good investment and if there are some, they can easily be fixed with hopes of turning a bad investment into a good one.

If a baseball player only swung at pitches in their sweet spot, they will likely have a 400 average, which is really good. This is how investors think, they only swing at investments in their sweet spot so they know they're going to be more successful and miss less. The difference between baseball players and investors, the baseball player has to swing within a few pitches in order to hit the ball and an investor can watch 1,000 pitches before he or she swings for success You only need a 1 or 2 good business ideas to become rich

You only need a 1 or 2 good business ideas to become rich

1 or 2 big business ideas can make you rick, 4 or 5 can make you wealthy
You don't need to spread your money across dozens or hundreds of investments, you just need to find 1 or 2 big ones that can help you become rich. Now, if you have the right formula, you will probably be able to find a few more and invest in 4 or 5 companies, then you'll likely become wealthy You only need a 1 or 2 good business ideas to become rich

Take your time when it comes to websites because having just one or two great platforms can boost your profits enough to build a few more that can make you wealthy You only need a 1 or 2 good business ideas to become rich

In conclusion
You don't need to be right now in order to be rich tomorrow, you just need to know what risks to take and you can't spread yourself too thin. Watch 1,000 pitches before you jump in and invest some money into something. You don't have to be an investor into someone else's business, you can invest in your own, just be sure it's a home run before you swing You only need a 1 or 2 good business ideas to become rich

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Thanks!

Tommy Carey

Comments

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treecko142

Definitely, some people are branded as "one-tricks" because they got rich by only doing one thing, but there's nothing wrong with that since you can't really focus on anything if you pursue all of your ideas. Focus on 1 and improve it and see it succeed before even trying with another business idea.

8 years ago

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Corzhens

This reminds me of one businessman who started a fast food business by borrowing money from his father. When he went bankrupt he again borrowed money and continued the business with another name and another style but the same kind of specialty food. When he succeeded in gaining good ground with his marketing activities, there were offers to buy his business so he sold it. Now he is very rich because of that sale and it looks like he had retired from doing business.

8 years ago

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centurion

Thanks for the nice article. To become a rich person- you must need to become a honest about your business. You can do affiliation, you can do marketplace and outsourcing work, you can re seller works or personal business works. Online have huge ways and I have been trying to get rich online but unfortunately except marketplace works- no other works has been going with me. But also I didn't stop the other works and continuously trying with 2/3 methods and hope one day will get the good result. I have application programming Interface based social media marketing signal selling based website and I have been trying to get success on there.

Thanks
Centurion

8 years ago

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TommyCarey

It takes a bit of time before you'll be able to see a website or business be successful. You might start up a website, think it's going to be great, and quit after a week of promotion and marketing because you're not making any money. This is what most people do, and it's because we're all impatient and don't want to wait for success to come lol You only need a 1 or 2 good business ideas to become rich

Just stay patient, keep working, and study everything you possibly can before you take any steps towards a new traffic method or advertising campaign. Know what you're doing before you do it, know what could happen if you screw up and how to fix it before it happens, and always set some goals before you start so you have something to work for You only need a 1 or 2 good business ideas to become rich

8 years ago

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anwebservices

One of my (long time) confusions is questioning my self if it's better to have niche specific websites or have multi-niche website. I also run many different websites with different niches, because i also have many different and similar passions, hobbies and knowledge. But after summarizing all required time to run all this, keep up with SEO, social media marketing, content consistency etc etc... I also ask my self "What's wrong with having one strong multi-niche website" and really what's wrong with that. With current situation with WordPress and some nice extension, we can have different categories, each category can have different design with some premium themes, less domains to pay for etc etc etc....

So what is your thoughts about this???

I am really thinking to move it all together in one great, big website and who cares if there is section with recipes, SEO services, fishing gear, musical instruments etc... Well there is no Amazon for toys, different amazon for software, different for books. It's all on Amazon and that's fine. So why the heck we creating all this single niche websites at all, or did i miss something important You only need a 1 or 2 good business ideas to become rich

8 years ago

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ViceMedia

Instagram: @plugofsc

You just asked the best question. You're right.

8 years ago

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aeon

That's the problem with other people who running their business, once there's a new in demand business, they will immediately transfer to that when they found out that some people get profit from it even without any knowledge. It's looks like a hopper.

8 years ago

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RhealaineS

Definitely. Businessmen need to be a risk taker. Not only that, he/she needs to be very good in calculating risk. Weigh things first before deciding.

8 years ago

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aeon

Yeah, they should have that, they should calculate everything, but should focus first on their first product and wait for the development instead of riding in the popularity of the other products.

8 years ago

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Kakashi2020

It has sense, if you want to be successful do something that you have personal knowledge off or better do something which your good at and you'll succeed. The problem is whatever you're strengths are there's a couple of thousands which have the same strenghts as yours. You can live from it but getting rich? I don't think so.

8 years ago

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vinaya

In 2015, I decided to stop writing on third party sites and launch my own blog. After a month, I learned that instead of publishing on many topics on one blog, having niche blogs will be more profitable. Thus, I began launching niche blogs one after another. Two years on, none of my blogs are performing well. There is no time to write and publish contents and no time to do SEO and promotion. Had I focused on one blog, my blog would have been already established by this time. These days, I strongly believe that you need to choose a lucrative niche and focus on that niche.

8 years ago

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TommyCarey

Yeah, solely focusing on something will mean you're not splitting your time across various websites and you can generate much more content on your one blog than across your network of 5 or 10+ blogs. I'm sure everyone has done what you did, myself included, so don't let that hold you back You only need a 1 or 2 good business ideas to become rich

You learned from your mistake and now know to focus on something to make it successful before you branch out on a different product, blog, or service You only need a 1 or 2 good business ideas to become rich

8 years ago

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amelia88

Always reassuring to know that you don’t need millions upon millions of ideas, and that a few good ones generally get you where you need to be!

8 years ago

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jaymish2

I agree with this. This is especially true when you are working online. They are so many opportunities that it is tempting to get involved in all of them. But when you do this you never perfect your craft. You then end up claiming that online marketing or a business is a scam. This is a business like any other which you need to concentrate and work hard on to be able to make any profit from.

8 years ago

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NesMarcos

I strongly agree with this especially when you are into business. All businesses need a lot of attention especially if you have just started it. Making a business work and profitable requires patience, concentration, deep study and learning.

8 years ago

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poppi01

This is highly inspiring an eye opener, it's just a rich article. Thank you so much for this piece. I have a number of ideas running through my head but haven't been able to successfully execute 1 of them. I'm doing this today and tomorrow I've moved to another, but then with this I think I need to restrategise my plans and take one step at a time. I really need a mentor, like a business mentor but haven't been able to get one.

8 years ago

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Corzhens

This discussion reminds me of the largest fast food in our country. The owner had focused on the business and continued the research and development continuously. When his business flourished and became the largest local fast food in our country, he started buying some other fast food and even acquired a popular bakeshop. But his acquisitions are all related to the original fast food.

8 years ago

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mark8625

Business is something that very risky to do. All you need to have is a strong mind, determination and motivation to become successful businessman.

8 years ago

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Barida

Having the right mindset before venturing into any business is one of the ways that we can keep up with the way that we run our business. Getting to realize that starting a new business is never easy since we are going to encounter one or two challenges is a way that we can push ahead with the things that we desire to do.

8 years ago

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ballyhara

So far, I've seen that's the main factor when it comes to business. Most of the people that I know, that have become successful in an area, have taken big risks. As my mother says, the one that doesn't risk anything, it won't lose but also it won't win. Unfortunately, I have to admit I'm not a risk taker, so that's why I haven't achieve a lot of goals that I wanted.

8 years ago

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Barida

Understanding the power of making better enquiries before we go about investing on any business is one of the best ways to keep up with the things that we are doing. I have come to notice that most rich people don't go about investing in businesses that they know nothing about and this is one of the ways that they have become successful over time.

8 years ago

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Zelmontero

Definitely! it will only take one or two good business idea to become rich. You only need to be really sure in the business idea . It should be the one that your target market really want. You will need to have a good promotion strategy. And, your only business idea will be successful if it was really equipped by this deciding factors.

8 years ago

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Gilgamesh

I do not agree into what you stated because we must a lot of sites to make us realize something that we can only within ourselves will realize. I know that we will ask some experts about it of where we can earn a good profit but it can just guide us and it's still not a guarantee that we can get reach so easily. It requires patience, perseverance and trial. Skills is also a fundamental too depending into your passion.

8 years ago

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jeffreyjose48

I had been looking for these ideas. I have tried to think that at first its through farming. Our family have livestock. I also bought goats to let it multiply. I have learned that it takes a lot of time. I sold all my goats and tried again in raising pigs.

Ideas just pop up in my mind. One idea was suggested by my relative. He told us that in our place there could be hidden treasures. We started to dig even without using proper gadgets. We were unsuccessful during that time. Ideas are indeed very powerful. It drives you to do something.

8 years ago

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romyter013

You are so right about that. You cannot get what you want as easy just like that in just one snapped. You need to be patience and work hard on it. I've read many inspirational businessmen and women that they started from scratched, worked hard, and they never gave up with their dreams. These is something somehow can help us to believe that we can be successful too in the future. If they can, of course we can too. Just believe.

8 years ago

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jayjaydimson

Yes you really have to, by that you can earn a lot of money from it.

8 years ago

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mhingnhormz

You only need a 1 or 2 good business ideas to become rich: It's not so easy to become rich except those who are born with golden spoon in their mouth. In running business there were always a competitor. You should look to the side of your costumers. Train well your subordinates, treat them well. During your board meeting, asks everyone's brilliant ideas and let's them cooperate with you. In business one's need to have patience.

8 years ago

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