The Importance of Building Your Online Business on Multiple Platforms

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RESOURCES MENTIONED IN THIS VIDEO:
- How to Start a Blog – Ultimate Guide (https://www.onehourprofessor.com/start-blog/)
- Income Reports (https://www.onehourprofessor.com/income-reports/)
- Amazon's Extraordinary 25-Year Evolution (https://www.cnn.com/interactive/2018/10/business/amazon-history-timeline/index.html)
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I’ve said it time and time again, but diversifying your online business is the key to longevity. I think this is especially true now when so many people were hit by one of the three death blows that happened in May. Between the pandemic, Amazon commission changes, and a Google Algorithm update, it’s been rough. This video explains the Importance of Building Your Online Business on Multiple Platforms and some examples of how I’m doing this myself.

Online Business Can Be Brutal
• Pandemic reduced organic traffic to most websites
• Amazon commission changes crushed a lot of Amazon affiliate websites
- I saw a drop of about 50% in income on my main Amazon associate site
• Google came long and hurt a lot of websites with an algorithm change

Diversification is How to Build a Business (https://www.cnn.com/interactive/2018/10/business/amazon-history-timeline/index.html)
• Let’s take Amazon as a case study
- 7/5/94 Started with books
- 11/18/97 Built out second distribution facility
- 6/11/98 Expands to CD’s
- 9/30/99 Launched 3rd Party Seller marketplace
- 11/7/02 Starts selling clothing
- 6/10/03 Launches AWS
- 8/19/04 Entered China
- 2/2/05 Amazon Prime Introduced
- 11/19/07 Amazon Kindle introduced
- 1/31/08 Acquired Audible for Audiobooks
- 7/22/09 Acquired Zappos for Shoes
- 3/19/12 Acquired Kiva Systems for Robotic Systems
- 11/11/13 Adds Sunday delivery
- 8/25/14 Acquires Twitch streaming service
- 11/10/15 Create Amazon Echo (Smart Speaker)
- 6/16/17 Acquires Whole Foods for grocery delivery
• We are not all Amazon, but there are some things to note

How to Build Your Business Out
• Key: Start with a simple website (https://www.onehourprofessor.com/start-blog/)
- For inspiration, read income reports (https://www.onehourprofessor.com/income-reports/)
• Once established and getting Google traffic, build on other platforms slowly
- Pinterest
- YouTube Channels
- Facebook
- Instagram
- Twitter
- Snapchat
- TikTok
- Build email list
- Build a COMMUNITY of people
- Rely on NO ONE specifically
- Repurpose content
• Doing this now with OHP
- Acquire businesses that makes sense
• Diversify revenue
- Display ads
- Infoproducts
- Courses
- Memberships
- Dropshipping
- Don’t be scared to start a complimentary physical product
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My name's Prof. Ron and my goal is to help you create passive income with online businesses and entrepreneurship. I'm not big on hype and won't promise you overnight success, but I love to introduce people to a lifestyle where they can make money online while working from home. I'm also passionate about personal finance and making more money, so I cover that too!

If you're interested in learning how to earn money from an online business and then where you can invest that money to make more passive income, this is the channel for you.

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