As I have been trying to narrow in on my specific strategy to making a living from my online efforts, I keep coming up with this notion that bigger is not always better. On Monday, I mentioned that I keep building and buying more blogs. It was an addict’s first confession. I have bought into the belief that if I start a lot of projects now and continue to build them up over time, eventually my online income will take off like never before – and that’s saying a lot considering my most recent income report. Yet, even as I build up my online portfolio of blogs or empire (as many call it), I have a strong conviction that many are over-doing it. Here’s what I mean…
I often talk about the ideal business model. This is mostly due to the fact that I plan to make my living from income that I can turn into passive income instead of working the 9-to-5 my whole life. I know it sounds crazy to many, but it seems like it would offer me a lot of benefits and will be hard to turn down. As a result of being motivated, I know that I have to keep my expenses low in order to maximize my return. As I have talked about, one of the benefits of blogging is the low overhead costs. This allows for a smaller risk and more net income.
For all of those who are faithfully following my progress on this site, you know reporting my income is a tradition at Passive Income to Retire. My goal is to have enough income to more than replace my income from my day job. I want to make sure that I can sustain a steady income before I do something crazy like retire at the age of 27, so I am building up my income now to see if I can maintain it for a while before pulling the plug on the traditional job. My goal is to build up a stream of steady income that I can sustain by working less than my day job.
A few months ago I wrote a post about the benefits of owning blogs vs. staff writing. In the post, I came to the conclusion that my strategy is going to be owning multiple blogs. I do staff write for one site, but I am starting to think it isn’t worth my time. The truth is that when you start earning hundreds and then thousands of dollars from a single blog each month, the extra $40 for about 3 hours of work (to write 2 staff posts) hardly seems worth it. Over the past 3-4 months, I have been writing for my two blogs (as well as others I have been developing).
Have you ever wondered about the best strategy to owning multiple blogs? Maybe you have create a successful blog, but have not been able to go beyond that one blog? While I have yet to prove that my strategy is going to pay off, I am really confident that it will show some results soon.… Read More »
Many people speculate as to what it takes for a business to be successful. This is hard to nail down in generalities, yet people try. People write books about the 7 steps to be a successful X or 3 ways to achieve your goals. The possibilities for these types of books or post topics are… Read More »