This is a question my wife has been hitting me with recently. My plan is too earn enough to make sure I can pay my mortgage and bills every month. I earn around $50,000 a year, so to replace that is going to take a huge amount of work and dedication, but I believe it can be done.
Is $50,000 the maximum amount you could really earn or is it closer to 6 figures or even 7 figures a year? Could you really earn, honestly, a million dollars a year online?
- Competition
Is there enough market space for another one of you? Do you compete against other sites who, potentially have a strong grip on the market already. For example, in my market place; making a success of a business or website and increasing brand loyalty etc, the market is saturated. Saturated with sites that don’t deliver and or never interact with the readers once they have your money. Could you bring something that no one else is offering for a price that is almost unheard of?
Making money in my market place is extremely difficult, but it can be done, I believe as long you as are different.
- Unique
I truly believe TheInfoPreneur.net is unique as I am. Everyone is unique, but what seems to happen is when people set up their own websites is they lose all sense of their own personality and decide to copy an already successful website. If you copy someone else you will fail. It’s like all the reality talent shows like America’s got talent etc, One year someone will win it by break-dancing or doing impressions, then in next years auditions all you see is break-dancers and impressionists, the majority are rubbish. Bad or Unique be yourself, because ultimately by being yourself, there will be no competition.
You decide what you wear in the morning and you decide what to eat, so don’t copy anyone else when you go to make money.
- Hard
It’s immensely hard work even running a website, never mind one that gives you a full time living. I work 12 hours a day with my full time job, I have a young family and my 9 week old site is getting ever popular as each day comes, which means I have to make small sacrifices in order to reach my goals. I work around 6 hours a day on the site and sleep around 5-6 hours which does take it’s toll. I have published over 140 posts in 9 weeks which have received over 1,500 comments, It’s not easy, you have to put the hours in every day.
Some people expect success to come to them and really don’t get how much time and effort goes into running a site that gets traffic or sales. Take John as an example, he confesses how hard he worked towards the back end of 2009, but look at him now.
- Realistic
‘I want to make a million dollars a month, in 7 weeks time’ I can’t tell you the amount of crazy statements I hear all the time. I aim high, really high and to others that may seem ridiculous, but I have a clear set plan to reach my goal. By all means go out and reach that millionaire status or that book deal, it’s more than possible, but have a way of doing it. It doesn’t have to be a 50 step business action plan, but know in yourself how and when you are going to implement things which will help you achieve your dream.
If I said to you, give me a year of pure hard work and dedication, at which point I will give you a full time wage from your website, what would you say? If you would jump at the chance, then make this the last website you visit today until you have done all the work your own website needs.
What does everyone think?
Anthony @ Jumpness (19)
SafariDave (19)
sangalicious1 (14)
{ 21 comments… read them below or add one }
You definitely hit the hard part. I made $50k right out of college. HOWEVER, I hated my life and my job. I’m an entrepreneur at heart and cannot work corporate. $50k to start isn’t bad. Well I left and made about $10k running a small business. I’ve spent all my savings on an online site. I started the site while working my full time job so the 18+ hour days were typical. Here is a quote I look at every day. No joke, everyday and it keeps me motivated. “If you are not willing to risk the unusual, you will have to settle for the ordinary.” If you can come up with an online website that makes lives simpler, you will be successful. Oh yeah, and have the motivation to stick it through the hard times. I would also like to mention I was happy making a lot less doing something I love.
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Extreme John (4114 comments.) Reply:
January 19th, 2010 at 10:33 pm
@Anthony @ Jumpness, hey Anthony I just wanted to say thank you for taking the time to leave an excellent comment, I appreciate it.
So many people think that life is about the golden carrot and money is always a part of it, sooner or later everyone realizes that “quality of life” is something worth sooooo much more.
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TheInfoPreneur (21 comments.) Reply:
January 20th, 2010 at 10:25 am
@Extreme John,
Totally agree guys, work hard the rest will come
TheInfoPreneur´s last blog ..You CAN Sprint a Marathon
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From what I read, making $50k online through writing alone is tough business. Even the large publishers like the New York Times and Wall Street Journal, who make it their full-time business to publish and sell advertising have to go through hell to put together their content, and even go so far as to wall it off, to create subscriptions, because their advertising revenues aren’t high enough.
I think it might be easier to do if you considered consulting – selling your massive institutional knowledge to new kids on the block who want to get their blogs set up. There are so many scam companies out there who will charge an arm and a leg to provide the information you’ve worked hard to learn. Not only are you probably more deserving of the money, you also won’t scam the n00bs.
In any event, time and energy spent into business, particularly a business that you can eventually get to almost self-automate is time and energy well spent. The dividends you receive from your business are life-long, not day-to-day, like when you’re an employee.
Will@laser hair removal´s last blog ..Hairy Celebrity Slip-Up: Guess Who Bared Hairy Legs on the Golden Globes Red Carpet
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Extreme John (4114 comments.) Reply:
January 19th, 2010 at 10:34 pm
@Will@laser hair removal, your last statement says it all, great comment Will thank you for taking the time to comment.
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TheInfoPreneur (21 comments.) Reply:
January 20th, 2010 at 10:25 am
@Extreme John,
TheInfoPreneur´s last blog ..You CAN Sprint a Marathon
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TheInfoPreneur (21 comments.) Reply:
January 20th, 2010 at 10:26 am
@TheInfoPreneur,
Yeah consulting is definately something I’m going to move into.
TheInfoPreneur´s last blog ..You CAN Sprint a Marathon
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This was a very interesting Guest Post. I think a lot of people would like to be doing (or earning) more, but it’s tough. Me, I’m just grateful to have a job. LOL. And if I can earn a few bucks online on the side, so be it.
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Extreme John (4114 comments.) Reply:
January 19th, 2010 at 10:35 pm
@The Constant Complainer, not to mention you never know what doors will open with that money on the side project ;)
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Past performance does not guarantee future results.
It may be that 2 years from now, “blogging” as we know it may be on the way out. It’s certainly changed a lot in the 1 year I started taking it seriously. And the amount that it’s changed since I first started reading Slashdot in, what, 1997? is tremendous.
For example, I made a list of the top 6 results on “pillar content” from google January 26 last year. This year, most of the these pages aren’t even in the top 50. Risley’s page, an authoritative source if any, was on the 8th page of Google.
From page 1 to page 8.
That’s a game changer. For whatever reason, “pillar content” turned into a hot search term. So it got gamed.
Stuff like this will reduce the credibility of blogging across the board. Take a few big outfits like Demand Media with the money to occupy the top 100 search results, the ecosystem dies.
So I don’t know where it’s going. I do know I make sure I know how to get the job done.
Dave Doolin @ Website In A Weekend´s last blog ..Blogging Katamari Style (I’m gonna roll you up!)
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Extreme John (4114 comments.) Reply:
January 19th, 2010 at 10:36 pm
@Dave Doolin @ Website In A Weekend, there is a lot to be said for diversity that’s for sure. There are very few bloggers that I see (you being one of them) that has the natural ability to create various new key phrases, it will always set you apart from the rest.
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TheInfoPreneur (21 comments.) Reply:
January 20th, 2010 at 10:27 am
@Extreme John,
Definately interesting times ahead, what we need to do is get together and control the market and make these big coroporate sites do what we want!
TheInfoPreneur´s last blog ..You CAN Sprint a Marathon
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Its amazing how much time and effort it take to keep a site up
and running on all cylinders. You obviously spend a lot of time writing
posts and researching other ideas.
How much time is spent daily working on EJ, including I.T. work that is done for you??
Great post to let others how much time and dedication its take to keep this pig rolling. Glad to see you are still banner Free, but it would not change my habits of visiting your site if there happened to be one up there.
Best of luck and keep up the extreme posts.
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Extreme John (4114 comments.) Reply:
January 19th, 2010 at 10:59 pm
@safaridave, hey Dave this is actually a guest post written by the blogger behind The Inforpreneur, James.
However to answer your question it all depends on the day, I have some days that I never get a chance to touch the EJ blog. If I have the chance at a complete day it can easily be 24 hours + behind the EJ blog, those chances are rare though. haha.
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Just checked out your site, I think this can be done but I would be worried about you scheulde. I started down a similar path about 9 months ago and after about 6 months I I was toast. Took a little break to rethink everything now I am back out it. Working 50-60 hours a week at work then trying to learn marketing and blogging and listening to a bunch of old and bad advice heading down the wrong directions etc. I think everyone has been their.
The one thing I think will be key is you need a product and you need to be a strong marketer and networker. Blogger’s that market or have something of value to market are the ones making the money. Also the larger your network and connections the more you can reach and sell. Looks like you have allready accomplished a lot with your site in a little time so that is great.
Best of luck to you I will be checking out your site looks like you have a lot of value.
Jared P Little´s last blog ..David Risley Pre Launch Freebie’s
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Extreme John (4114 comments.) Reply:
January 19th, 2010 at 11:01 pm
@Jared P Little, thanks for the excellent comment Jared I appreciate it. I will be heading through your blog in the next hour or so.
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Excellent post James, it takes hard work! I think the common misconception is that you can start a website or blog and make a living. So not true!
I started blogging because of a business I owned, I grew to love it, learned the ins and outs, and I write because I like to write. Ultimately though, there is a master plan, and it involves making money.
What I think people miss is that it takes training to and education to make a living (a good one usually) and blogging is just the same. If you go into it with that mindset, and you realize it is like a college degree (takes 4 yrs to get a degree) then you have a better chance. Maybe you can get your degree faster than others…
Keith@Need Information´s last blog ..Are You Writing About What You Know?
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TheInfoPreneur (21 comments.) Reply:
January 20th, 2010 at 10:29 am
@Keith@Need Information,
Hey Brother,
Yeah hopefully all this hard work will start to pay off soon!
TheInfoPreneur´s last blog ..You CAN Sprint a Marathon
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Jean from Totes Handbags (1 comments.) Reply:
January 22nd, 2010 at 6:29 pm
@electric heating uk,
It helps a lot to his life.
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“If you would jump at the chance, then make this the last website you visit today until you have done all the work your own website needs.”
You’re doing it again James. Great post though, and a valid point (which I should probably attend to but I wanted to comment first). Being unique is pretty important, especially for a blogger, and even moreso if you plan to make moner from it someday.
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TheInfoPreneur (21 comments.) Reply:
January 20th, 2010 at 10:30 am
@Heather,
Hey Heather good to see you here, You gotta get on and do it, no one else will do it for you.
Any probs give me or John a shout
TheInfoPreneur´s last blog ..You CAN Sprint a Marathon
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Heather (2 comments.) Reply:
January 21st, 2010 at 5:14 pm
@TheInfoPreneur, JUST noticed this; that day I sat, after commenting, and wrote a blog post for a solid 3 1/2 hours.
Horay for sudden inspiration ;)
Heather´s last blog ..Falling Feathers Part Two: Particle Systems (Basic)
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I agree about watching out for that burnout. Moreover, when it does arrive, don’t be too hard on yourself, take a few days offline and come back afresh.
For me, it’s not about making top dollars. It’s about making much more than I could have been making in a regular dayjob while being my own boss and NOT overworking myself. I work under 40 hours a week, very flexible and get to spend lots of time with my kids.
Anne @ b6s.net´s last blog ..Does Skype Owe You Money? They’re Willing to Pay
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I believe so many go gung-ho then peter out because they choose what they ‘think’ will make them a lot of money instead of concentrating on what they enjoy and where they can make an actual contribution. I just watched a story on tv where a couple used their last $18,000 to start a low-fat bagel business. The wife then started a website on weight loss [she has lost over 200 pounds] and she write cook books. Persistence, drive, and passion about something are all very key to success and how much money one will make.
And I like Anthony’s [Jumpness] comment about money not equaling happiness. How much money one makes is not the only measure of success; it is but one measure.
Anne´s last blog ..How to Rid Yourself of Negativity and Let the Happiness Inside
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TheInfoPreneur (21 comments.) Reply:
January 21st, 2010 at 4:59 pm
@Anne,
You are 100% right, for me it’s not about having my bank full, but having the freedom to stay at home more, rather than working 12 hrs a day and working on the site
TheInfoPreneur´s last blog ..Blogging Tip: Prioritizing Blog Posts – Guest Post
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Heather took the words right out of my mouth. We can all read what to do, how and when we should do it, but without action it is a waste of time even bothering reading this stuff.
I’m all for learning but learning without action is just head knowledge. That’s all fine if you like to learn for the sake of learning. If however, you want this to be a vocation, you need the practical element.
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Hey guys, I just want to thank you for the excellent comments. I got a great idea here. thanks thanks and many thanks..
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I like the fact that your “unique” section really is.
I don’t know how many blogs I’ve read where #3 on the top 10 list of things to do for your blog is
#3 Create unique content.
It’s always that phrase and I’ve found that to be ironic.
So thanks for not using that tired old phrase once again.
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I have begun earning something out of my work and I can say that it is indeed not as easy as the squeeze pages are claiming it out to be. I believe though that with dedication and perseverance I can reach the point where I can equal my monthly salary at my current day job. In the very first earning site I made, I honestly have to admit that I copied the patterns of already successful sites thinking that I could make a shortcut by not reinventing the wheel. It did pay off somewhat. Eventually though, with experience and gained confidence, I am sure to spread my unique touch over my work.
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I did a post exactly like this about how much would you have to earn to blog full time and quit your day job. If you get medical benefits partially or fully paid by your company you need to add another 70% to your salary to quit blogging to compensate for other perks. And then there’s this, if you made $50k from your day job, but $50k from your blog, why not stay working for a few more years pay off all of your debt and maybe even your house and live real comfortable.
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You can make a lot of money online, but it’s hard work and it will usually take quite some time before you start making enough for a living. Those who make big money online usually also sell something along with their blogs, have membership programs and what not. So, it involves marketing skills as well as writing and dedication.
Marko´s last blog ..Friday Link Juice: Cool Blogging Tips
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TheInfoPreneur (21 comments.) Reply:
February 4th, 2010 at 9:11 am
@Marko, Hey Marko, Yeah man it takes a lot of hard work and dedication, but belief in that you can actually make it.
TheInfoPreneur´s last blog ..Why Being Normal Is The New Extraordinary
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Uniqueness is a commodity that is becoming very sparse around the blogosphere. I definitely think the originality of this blog is what keeps me coming back for more. The wide range of topics just blows my mind.
It is definitely hard-work to run a website, not only coming up something unique to write about but all that SEO stuff, but I too hope to replace my paltry income within two years and focus all my attention on my business.
Ms. Freeman´s last blog ..Does Banning Personal Internet Access in the Workplace Increase Productivity?
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TheInfoPreneur (21 comments.) Reply:
February 4th, 2010 at 9:11 am
@Ms. Freeman, hey good luck, keep us updated with how you are doing it
TheInfoPreneur´s last blog ..Why Being Normal Is The New Extraordinary
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Excellent guest post James. I’ll be a regular in your blog.
ZXT´s last blog ..Beware of the Kids
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TheInfoPreneur (21 comments.) Reply:
February 17th, 2010 at 12:57 pm
@ZXT,
Thanks my brother, you’re welcome anytime
TheInfoPreneur´s last blog ..I Rank Higher Than ProBloggers, But Make No Money
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I have read a couple of online entrepreneurs that got up to $6000 a month and then started doing ppc campaigns and really started making money. I hope in a year I’ll be up to the $6,000 mark and can start training for the bigger payouts.
Steve @ Turbo Tax 2009´s last blog ..Pay For College With Tax Credits
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If anyone can do this, it will be James. If only because he won’t stop or give up and he is incredibly creative.
Ralph´s last blog ..Success is a process not a destination!
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TheInfoPreneur (21 comments.) Reply:
February 17th, 2010 at 12:56 pm
@Ralph,
Hey Ralph Thanks brother!
TheInfoPreneur´s last blog ..I Rank Higher Than ProBloggers, But Make No Money
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