There are some blogs that make money, and others that do not. At this time, this blog fits into the later category. I have yet to consider any monetization methods, and am probably still a few months away from doing so. Until I am comfortable with the content and traffic, I will stay away from monetization. But with that being said, I have been thinking a lot about how much money should be reinvested in a blog. In other words, what percentage of your blog’s revenue do you reinvest?
This is a question that every blogger will answer differently. There are some that like to reinvest every last penny that they make, while others would rather keep the money for themselves. And guess what? There is no way of saying for sure what is right and what is wrong. It really depends on your goals and situation.
If your main goal is to grow your blog as quickly as possible, you will definitely want to reinvest some of your revenue. How much, you may ask? Well, that is for you to decide. You may want to take a certain percentage of your overall revenue, or simply have a set amount that you will use for reinvesting each month.
On the other side of things, if you are trying to make money with your blog to sustain your current lifestyle, reinvesting may not be the best idea. After all, the $100 that your blog earns may be needed to pay some bills. If you are in this situation, there is no need to worry. Even though your blog would probably grow faster if you were to reinvest some earnings, if you continue to post quality content, your traffic should naturally increase; even if it takes a while.
It would be interesting to find out how much money the big time blogs reinvest. For instance, do you think John Chow has to put any money back into his blog? I am sure he does this to a certain extent, but with over $10,000/month in revenue, it is probably not enough to make a huge difference. In fact, it is safe to say that he probably reinvests more money in his blog in one month than most blogs earn. But remember, even he started somewhere!
As the month winds down, consider your blog reinvestment strategy. You may find out that tweaking this could help your blog reach new heights in August!
Have you ever given any thought to selling your blog? I for one never like to sell any of the websites that I personally start. After putting so much time into a blog, selling it would feel like eliminating part of my business life. Sure, you may be able to make some money on a deal, but is it worth it?
Over the past couple of months I have kept an eye on the marketplace at SitePoint. If you are not familiar with SitePoint, they have probably the largest marketplace for selling blogs, websites, and much more. If you are going to sell your blog, or are interested in buying one, this is probably the place for you. Anyway, there have been quite a few blogs for sale, and many of them have fetched a pretty penny. But the one thing that really gets me is the people who sell their personal blog. Does this make sense to you?
If I sold this blog, what would somebody else do with it? After all, it is about my experiences and thoughts on a wide variety of subjects. To me, selling a personal blog is like selling a part of yourself.
I suppose there are some reasons for both selling and buying a personal blog. On the selling side of things, if your blog is popular in your niche, you may be able to attract a good price. And of course, if you already have revenue streams in place this is only going to help your cause.
On the other side of things, buying somebody’s personal blog also has some benefits. First off, as mentioned above, it may be an authority site. And along with this comes name recognition, direct traffic, incoming links, an established readership, and some revenue. The only problem is, are all of these benefits going to stick around when the person running the blog changes? This is a question that you will want to answer before you decide to buy a personal blog.
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One last note: if you are going to sell your personal blog, make sure that the new owner will state this in their first post. In other words, you want them to tell readers that the blog is under new ownership. You may also want to make a post before you go telling your readers why you sold, etc. And of course, make sure that the new owner is aware that they must keep this post on the blog. If you do not do this, the new owner will be more or less acting as you; and this is never a good thing.
Buying and selling a blog can be tricky business. Before you do either one, make sure that you take the pros and cons into consideration.Â
There is no denying that managing more than one blog can be a difficult task. And if you are going to do this without the help of others, you are most definitely in for a rough time; at least during the beginning stages. But with that being said, there are many people out there who are successfully managing multiple blogs. If you want to be next, it is going to take a high level of efficiency and dedication. And that is only the beginning.
Are you thinking about starting another blog? Do you already have more than one that you are trying to keep track of? If so, the following four tips will help you to successfully manage all of your blogs.
1. As you probably know, managing one blog can be time consuming. You need to find time to make regular posts, while also marketing with gusto. This alone can take up several hours each day if you want to do things right. On this blog alone, I spend at least 1.5 hours per day making sure that everything is running smoothly. And even then, I find myself answering emails late at night in order to stay in touch with readers.
If you are going to manage more than one blog, you can pretty much multiply your work by that number. Since I have a bit of help, I do not struggle too much with keeping my other sites up to date. But with that being said, I still like to do most of my work without too much assistance. To succeed with this, it is essential for me to outline daily goals. Example: for this blog, I strive to write at least one post per day. Along with this, I always make anywhere between 20 and 40 comments on other blogs that are similar to mine. Finally, I add in other time consuming measures such as guest blogging and other marketing techniques. And this is all in addition to my day to day freelance writing projects.
2. As mentioned above, I do have a little bit of help from time to time; and there is nothing wrong with this. Even though it would be nice to do everything on my own, there are simply not enough hours in a day. If you are going to run multiple blogs, in particular more than two, you are probably going to have to hire some help. Find out the area where you need the most assistance, and then seek out somebody who is reliable enough to get the job done.
3. If all of your blogs are somehow interrelated you will have a much easier time keeping them current. For instance, if you have a blog on basketball, start another on a particular player within the game. This will allow you to do all of your research in one area. Not to mention the fact that it is probably something that you will enjoy!
4. Never start a new blog until you are 100 percent comfortable with where your current ones stand. Why put more on your plate if you are having a hard time working with the blogs that you already have? You should not be in a huge hurry to jump into another venture. Take your time so that as you move forward it is easier for you to sustain your current workload.
Managing multiple blogs may not be easy, but it can be rewarding on both a personal and financial level.
