Does Being A Versatile Author Hurt Or Help?
I want you to think of your favorite author (other than yourself ;)) at the moment and ask yourself if they write in one specific genre or more than one. When I think of Dean Koontz, James Patterson, or Danielle Steel, a very specific formula of book comes to mind. The question of whether or not they could sell well outside of those genres are yet to be revealed, and J.K. Rowling was so afraid her mystery books wouldn't sell after her Harry Potter fame that she took on a male pseudonym to publish them.
For these authors, they may have the ability, and the funds available to take such risks, however. But when it comes to us indie authors, that is often not the case. That being said, I rarely come across a writer who is skilled and/or passionate in only one genre. I, myself, specialize in fantasy and paranormal, specifically the young adult or cleaner versions of those, but my nearly four years as a ghostwriter have made me an expert at writing erotica and contemporary romance which COULD open me up to an entirely new market of people who don't know what to read now that they've finished Fifty Shades of Grey.
In the old world of straight, physical book publishing, it just was not done because publishers and authors could not afford to try and reach a whole new audience with each book. For those going down this more traditional route, that may still be the case. For those who are focusing on self publishing to online platforms, it is a nice theory that you can easily change between genres and even use a different pen name and website for each genre you publish in, but then you think about it, that is an awful lot of work for one person.
My advice to you would be to first sit down and see if there is a way to marry two possible genres into one that you can stick to most of the time. For instance, I can combine my passions into paranormal romance if I would like and hit a few from both audiences. It would still work for my creative purposes as well as marketing. As a fellow writer, though, I understand the stifling feeling of sticking to the status quo so to speak. So, I am all for it if you would like to throw all caution to the win, but do the research and know that you are skilled in any genre you take on by yourself.
If you are still undecided, there is an awesome worksheet provided on this site that can help you really dig down deep and see if writing in multiple genres is right for you or could kill a career that hasn't even begun.