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SEO = make or break any web business. Unless you manage to find a niche market that virtually nobody else is covering, meaning you get a naturally high level of visitor, without needing to work hard at it and hey, that's the holy grail of web design...
There are so many different area's to SEO though and some are way more important than others, for example, I put way less emphasis on search engine friendly links than I do on content and I get way more traffic than one of my competitors that concentrates extremely hard on every single link being search engine friendly, to the point where the content is lacking, his loss, my gain.....
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