Over the next year or so the Internet is going to be a really interesting place to watch.

Many reports are starting to predict that the seemingly endless pile of venture capital is starting to dry up.

Investors are wanting to see a little return on their investments.

Along with these reports are emerging predictions that bankruptcy lawyers will be the most sought after profession on the Internet.

And, though it is sobering, you have to sit back and wonder what all this *really* has to do with you.

In many respects, not much at all. Unless you are planning to have your great idea funded by someone else.

Other than that I think it underscores the importance that the basics that have worked for the past several years still have the potential to work for the next several years.

Businesses that *aren’t* built on half-baked ‘get-rich-quick’ ideas actually have the better chance of survival.

Put forth an honest effort to build a truly valuable website, and you can weather the storm.

What does it mean to have a ‘truly valuable’ website?

I’m sure the guys with a couple million dollars to spend on advertising feel pretty valuable, right?

Not when the money starts to run out and their customer list isn’t quite as large as they had calculated it should be.

But the difference between them and us is when their idea bombs miserably, they have investors to answer to.

When our idea doesn’t pan out the way we had hoped, we’re usually only out a couple hundred bucks, and some time that could have been better spent in front of the TV.

Now that things are in perspective a bit, let’s look at that ‘truly valuable’ website.

Your website needs to have a purpose (other than just to make you money). Why should anyone even visit your site?

I created AffiliateMatch to provide a resource to teach webmasters how they can make money with their website.

It needs to have a mechanism in place that gives your visitors a reason to return.

Fresh, regularly updated content, forums, polls, etc.

Your site should be interesting as well as informative.

If your visitors can be entertained as they are gaining valuable information, they will be more likely to stay longer, and to return at a later date.

A valuable site provides a strong sense of community for its members.

Surfers will gladly refer a great site to their friends, who will in turn refer their friends. Make sure you encourage this, and offer tools to make this easy for them to do right from your site.

If your site has a product to sell, it should have a strong affiliate program to recruit others to help you spread the word about your site and sell your programs.

A strong group of happy, well compensated affiliates can keep you in business for a long time.

A large newsletter subscriber base can be very valuable.

Not only do you have an opportunity to sell your products to your subscribers, a newsletter gives you an opportunity to bring visitors back to your site.

Well designed and easy to navigate.

Poor design and lack of, or poor navigation can be your worst enemy.

And, a valuable website has multiple sources of income.

Don’t put all of your eggs in one basket. Identify a couple of sources of income for your site in case one stops working, or slows down, you can still pay the bills with the other income streams.

The above paragraph doesn’t mean to cover your website with banners from every affiliate program that you can find.

Carefully choose programs that will compliment your content and appeal to your audience. If you create a site to help tourists to your area find the best fishing holes, don’t try to sell them Internet marketing books. Instead offer them lures, rods and reels, boats, etc.

Keep your overhead to a minimum. Create an advertising budget, but spend it wisely. Don’t purchase the biggest website hosting package you can find, rather choose one that will get you going, then you can upgrade as your traffic grows.

Maximize *every* free advertising and marketing opportunity that you can find (except spam!!).

Market and promote daily!

A well thought out, and flawlessly executed plan can keep you laughing instead of crying as you read through the next issue of the ‘Internet obituaries’.

Chuck McCullough is the author of a new ebook titled: “Affiliate Mistakes: Maximizing Your Profits From Affiliate Programs!” Get your free Email Course at: http://www.affiliatemistakes.com