z28 gave a good response to this, but here is my own opinion...
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Originally Posted by Geppetto
A few questions for anyone who knows:
-If one knows nothing about managing/ coding websites, where is the most efficient place to learn the basics (does anyone know of an online class or a good book)?
I would start by searching google for things like "starting a website guide". stuff like that...
Then I would actually buy a domain name and get some hosting. This is pretty cheap, and you'll end up learning quite a bit just by going through the process.
The most helpful things I know are how to use cpanel (provided by your host) and familiarity with DB management through cpanel/phpmyadmin or otherwise. Almost every website requires a DB these days and there are a couple tricks you need to know in order to transfer them correctly. There are lots of guides for mysql on the internet.
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-Approx how many hours of study would it take to become proficient enough to run a standard website.
This really depends on you. It wouldn't take too long. Typically you'll run into some kind of snag and have to learn how to get around it by searching the internet. I would say if you start your own site and get something complicated running like a wiki, forum, or CMS software, you'll have the very basics squared away. Becoming an expert will take time and just jumping in the deep end and figuring out problems as they arise.
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-What does one need to know to avoid getting scammed?
I answered another similar question in this thread. Basically get as many screenshots of verifiable stats for as much time as possible and use escrow.com. A bunch of real data is hard to fake. If they can provide you access to google analytics, even better.
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-It would seem that sending as much as possible on one site would maximize the effectivness of each hour you spend working on the site and likely maximize the $ per hour earned....at the same time this lack of diversification would increase the risk of failure...what is the best number of sites to own so as to not get bogged down?
I have had these same thoughts. I think the best idea would be to find as many low-maintenance sites as possible. I know a guy who owns about 30 sites the size of the ones I sold and thats his full time job. I think he hires out a lot of work, and has a lot of free time.
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-What % of your net worth would you feel comfortable investing in websites?
I would feel comfortable with 100% if the sites were unrelated and the income streams were diversified as well. Its not like someone is going to unplug the internet. However, given that there is some time involved, I imagine it would be difficult for anyone with more than low $xxx,xxx to be completely invested in web businesses. So for someone with less than $50,000 it might make sense to be 100% websites, but as that networth increases, more money would have to be shifted to stocks, etc. Also someone making $10k/mon probably isn't interested in sites that earn much less than $500/mon.
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-In your opinion what type of websites have the highest profit margins, and which are the easiest to improve the margins on?
Sites selling some type of affiliate program make the most per 1000 visitors. This would give you the best margins above hosting costs. Your site would be at the mercy of the affiliate program though. If the terms change you could get hosed. Look on the internet for "top web hosting companies". Those sites get paid when you click on one of the "top" hosts. They make a lot of money, and there will probably always be people who are paying for referrals. I imagine owning one of these sites would be very profitable, however, you would have a ton of competition who would constantly try to push you down the search rankings.
My success has all been from content sites with 3rd party ad networks. It works for me, but I am sure there are 1000s more ways to make money on the internet.
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-What type of websites are the easiest to run (in terms of complexity and hours) ?
I think content sites with 3rd party ad networks are pretty easy to run. If you have something like a forum or wiki, where the users provide the content, thats even better. I can't speak to many other types...