Just as financial planning experts recommend you diversify your investments, as someone trying to be successful online you need to diversify your sources of revenue.  I know of too many people whose ability to generate money online collapsed when the methods they were using – suddenly changed dramatically or stopped altogether.

You  should constantly be testing various programs and methods of generating revenue with your site or blog.  Relying totally on one or two strategies has been the downfall of many once-successful internet entrepreneurs.  Time and again marketers have been hit by a sudden change in the terms of use of a particular program they are using, or some algorithm has been tweaked that drastically affects their earnings.

How do you diversify your income?

The easiest way to start diversifying is to start implementing and trying different programs and methods of monetizing your site.  Some ideas to start with are:

• CPM advertising – You get paid by the number of impressions on your site
• Affiliate programs – Test different networks and products
• Services - Offer specific services that you have knowledge and expertise in
• Products - If you haven’t done so, try creating your own product and marketing it

These are just a few ways to start diversifying.  If you concentrate all of your money-making endeavors on one revenue stream and something happens that makes you unable to make money with that source, you are pretty much out of luck.  This is why it is so important to always be testing.  The upside to all of this is that you will often come across something that makes significantly more money than your current methods.

Whatever you do, don’t put all of your eggs in one basket.