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It's harder than ever but you can still make good money. You won't be able to do what everyone else is doing and expect to make much though. I think the first thing established wemasters should do is look to pick up as much money that they are currently leaving on the table as they possibly can. Make sure you are doing everything you can to increase the chances of success with what you have right now. Most of the people reading this could likely increase their bottom line as much as 30% just by doing this. And it's easy with no risk or additional resources necessary. Just a little intelligence and focus.
Next thing to do is increase efficiency and reduce your overhead. Are you paying $500 for hosting when you can get comparable quality hosting (with recommendations from people you trust) for $200? Reduce your expenses in that way. It'll give you better security and more to invest.
Then start sending out those feelers to see what works and what doesn't. Keep track of it. Continually go for what returns the most for your time and resources. Don't stay stuck doing one dwindling thing over and over again.
DON'T FOLLOW THE SHEEP. If you've spent any amount of the time in the industry and haven't learned that for the most part the sheep are led around to be someone's meal then you're lost. You need to make money yourself. Make sure you're not just making money for someone else instead. Think for yourself!
I hope this helps someone decent out there.
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