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Build wealth with your blog

Tweet Lets face it, most of us gather our income from one source. Our day job. Sure it’s possible to make a fair amount of money with your day job & if you are good at saving you can save a lot too. But what if you want to earn something extra on the side? [...]

Lets face it, most of us gather our income from one source. Our day job. Sure it’s possible to make a fair amount of money with your day job & if you are good at saving you can save a lot too. But what if you want to earn something extra on the side?

No doubt you’ve probably heard rumors of people making heaps of money on the web, maybe you’ve heard of “bloggers” earning $1000 plus a day? I’ve even seen a story one guy who earned just under $1 million in 60 days – from his website. We all hear these stories and think, “gosh that sounds easy, I’ll start a website (or blog)”. Well before we get any further I’m here to tell you if you don’t like a little hard work, you won’t make money online.

This is the first in a new series I wish to write to help you make money online, to supplement (or maybe replace) the income from your day job.

Is it possible to make money online?
The answer to this is a simple “Yes”. Look at Google they make most of their billions in the online space. You have ‘super’ bloggers like Michael Arrington (of TechCrunch) who have made millions from their websites & blogs, then you have guys like me, who have made small amounts from websites, but who also work (my day job) in a business that makes it’s money online.

However, like anything, making money online is not easy. It takes time, it takes hard work and it takes a passion for your topic.

How do you make money online?
I get asked this question all the time. The answer is surprisingly simple:

  • you sell advertising space on your site (banner advert, or text link adverts)
  • you sell a product or service
  • you help sell someone else’s product
    • generaly called affiliate programs, eg: Amazon will pay you a % for every book sold when someone finds that book on your site
  • you ask for donations (eg: see the coffee cup icon at the bottom of this post – click it to see what it does)

Most blogs will make money through a combination of these methods. They might use Google AdSense or Text Link Ads for their advertising. They might sell TShirts via Threadless or CafePress, they might be an Amazon affiliate and ask you for donations. There are no hard and fast rules (aside those put in place by the likes of Google) so feel free to use any or all methods.

How much can I make?
Well this will depend on many factors. The type of site you run, the content you write, the audience you attract and the amount of traffic (people visiting) your site generates. Content is king, get this right and all the rest will come. As I mentioned earlier you can make as little as $10 a month or as much as … well … lots.

However don’t dream of making millions tomorrow. Good things take time, and you will start off probably making little to no money for the first few months. Set some goals (realistic) and challenge your self to grow your blog – and raise some money.

Right now I’m happy earning $30 a month from this blog (well it was for the past 4 months running). In the past Studiowhiz has made enough money to cover it’s hosting costs (in excess of US$350 a month), however I’ve never made big money from this site. I have however enjoyed the perks and received hundreds of books (often before they go to market), heaps of software and had fun reviewing computers & gadgets, again often before they go to market.

Next?
In the coming posts we’ll cover a number of topics to help you get on your way to building wealth from your blog.

  • Planning you killer blog
  • Starting your blog
  • Building a high traffic blog
  • $0 to $300 in 30mins a day
  • Earning the big bucks from blogging
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[...] that stopped you didn’t it. You’ve read the first post “Building wealth with your blog” and like the the thought of bringing in some extra money from your blog. This post looks at [...]