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Maybe:
1) You didn't get the percentage you deserved from your partnership
2) You're overexpecting your potential ROI percentage (it's easier to do 20k profit with a 40k investment then with a 20k)
3) You're not getting full potential as the more website you get, the thinner your websites look
4) You didn't put enough money in marketing
5) You didn't optimize your expenses vs your profit
One thing is sure, the more areas you cover yourself or from strong and cost-effective partnerships, the better your odds of profit are.
What areas do you cover?
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