Just remember to use different hosting accounts so you get different IP addresses. Nice post MMD. I think the tought process you describe is really true for many new bloggers, myself included. But there is no easy money and if you want to be serious about it, you have to develop a strategy that revolves first and foremost around making money.
You just have to put the pen to the paper and lay out a plan. With that being said, I agree that you can choose to blog for money or for fun, or for both. You guys are really doing your due diligence to see what works. I am kind of in that transition zone of knowing I need to outsource some things but still thinking I can do them myself. The fact that my blog makes any money is still a fluke to me, and I expect it to dry up at any time.
That is a great idea about carnival submissions. I would love to know who you use. I plan to have a multifaceted portfolio for residual income. I intend to build a few decent sized niche sites. I also intend to have a lot of side hustles that I intend to grow into much bigger projects. All of these, will be managed by my contractors and VA. Basically outsourcing has been the major turn around for me that allows me to take the bulk work off of my shoulders.
Back-linking, submissions, and just about anything else I need for a few dollars an hour. Where else am I ever going to find that kind of resource?
I also agree with you that treating it like a business could be good for you in the end. Great article MMD! This is eye opening.
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I am in the blogging for fun category, but like just about everyone, I am tempted by the siren song of passive income…. Thanks Sam. I do try to be as detailed and transparent as I can be about my efforts.
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When I outsource my social media tasks, I get nearly submissions across 10 different social sites like Twitter, Facebook, Digg, Reddit, etc. Like affiliate marketing, it just seems like another means to accomplish making a passive income from my website assets. I have to confess, that I still have a ways to go with thinking about my blog in terms of a business. Thank you very much for sharing this very interesting post. Actually at first, I do blogging for business. But I also have a blog where I can express myself and share my thoughts and post some nice pictures I have taken.
Very informative post MMD! Having someone to outsource is a good help too in running your website. Of course, there is that much a person can do without going completely mad and I sometimes went over the limit.
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But indeed, if you want to make nice money with your blogs, you need to spend some money. And luck is always a major factor here — I was lucky with some of my blogs and unlucky with others. But yes, I am one of those who consider blogging a business and I am doing my best to get better and better at it. Excellent post. I think your post is very informative.
I definitely agree that you have to treat it as a business and invest time and money in it to make money. How great would that have been?? Hopefully you can use some of this information to make your progress go a little faster than what it took me to achieve it. If you have any questions about anything ever feel free to send me an email.
Great, great summary.. I am going to bookmark this to share with some new bloggers.. This should be a powerpoint at fincon! This will make a nice addition to the main income in 1 and 2. Hey MMD, Great article as your posts have been very helpful. As people talk about Nasdaq 2.
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The big sites will survive when it bursts and everyone else will jsut be a hobby. Getting into business is the same as investing in real estate, concerning how most people view it as an asset. When you average American leaves their company with the hope of starting a business, they decide to work in the business, rather than on the business. In other words, most business owners set up shop and then give themselves a position within the company.
Often, this position has to do with the general management of the business. As a result, the person may have a more profitable job, but they have a job nonetheless. If the business owner gets sick or dies, then the business fails. This strategy is not the way to invest in companies to create passive income. Investing in companies to create passive income requires a different strategy.
With this model, you look to acquire a shareholding in undervalued businesses that you think are ready for a comeback in earnings.
By investing as a shareholder, you take no active role in the company. All you need to do is collect dividends and attend shareholder meetings. Therefore, you are creating money by investing in the company, not working for it to earn a salary. There is no time commitment on your behalf, only a capital commitment. The second strategy for investing in a business to create a passive income is through purchasing a cash business. Companies that offer shareholding to investors are typically large corporations.
However, if you want to create a monthly cash flow from the business, then you need to take a different approach. Buying a cash business like a laundromat or a car wash is an excellent way to provide your portfolio with another passive income stream.
When you purchase a cash business, it comes with a full staff complement, including managers that run the company for you. As a result, you get to keep the earnings of the business at the end of the month, and you pay your employees a salary. As a business owner, you get to take advantage of tax breaks to reduce your taxable income, increasing your profits. Cash businesses are self-sustaining entities that pay you positive monthly cash flow. Make sure you get your accountant to go over the books before you buy any cash business.
The owner may make accounting entries that hide the real value of the company or blow it out of proportion with its actual earnings. However, your accountant can identify any funny business, and let you know if you are making a prudent business decision or buying a failing business.
In this case, you are working on the business, and therefore there are minimal restraints on your time. Our third option for investing in a business to create a passive income is through network marketing models. The truth is that network marketing offers people with limited resources, the chance to start a successful business. With network marketing, there is plenty of work involved in the initial stages of the business. However, after you build a productive downline, the company takes on a life of its own.
Your downline grows without any input from your side, and you can stop recruiting new members into your business and training them.
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Every month you receive a commission check that gets larger and larger as your network and business expands. Some talented network marketers earn 6-figure passive incomes, and they spend their days relaxing on a beach. Network marketing is a valid business model, but you need to be careful about which business you decide to join. When joining a network marketing company, you must select an established company with solid ethics. Joining fly-by-night companies could wind up with you being part of a Ponzi scheme.