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Monday, 12 January 2009

Business Making Money Online

I've been wanting to outline a key lesson I've learned over the last 18 months about running a business making money online. It is about having a long-term strategy that will stand the test of time, like this ruined castle in Ogrodzieniec.

One problem I've encountered that is disguised as a mini-success is that I create a blog and build them up so that they earn a small amount only for me to sell them. Some would think (including me at the time) that this was a good sign. I was creating something that made money by itself pretty much for free in terms of financial investment and then selling it to earn a high enough amount for me to get by.

The problem I've come to realize is that is a short term strategy. If I am to build up passive earnings from adsense so that eventually I am free from financial shackles, I need to hold onto my blogs rather than selling them off. Each time I sell them my recurring earnings go back to virtually square one. Sure, I may have an extra $1000 in the bank, but that runs out and then I have to sell my latest creation.

One way to get around this to turn that into a positive. I am good at selling blogs, so perhaps I should just get quicker at building them up and continue selling them. I'm confident that business strategy would work in terms of making money, but it doesn't scale up to give me enough freedom with my time.

That is why I am setting a goal until Easter, to not sell any blogs in my old 'quick boost' approach. I will endure my bank balance getting a bit low with the aims of building a long-term business making money online. A few months of constant build up will almost certainly not be long enough to reach my overall earning goals, but it is a big step in the right direction for my business making money online.

1 comment:

Survey Fan said...

You make some great points.

I think one way of thinking of it is the real estate analogy.

Some of your properties, i.e. websites are fix n flips for cash.

Some are good rentals that you keep for passive income.

A combination of selling and holding good be a good strategy for you?