Another month already. Wow. How time flies by. It’s been a crazy month, not really for my investment portfolio, but for my blog and personal life. I’ll get into more detail about that later in this blog post. But first, I want to show you some statistics.
- 73 Facebook fans.
- 66 Twitter followers.
- 57 RSS subscribers.
Ad revenue from October 1 – October 31.
- Paypal fees: $24.5
- Freelance fees (yes, I did hire a freelancer): $75
- Advertising fees: $50
I shut down the Market Outlook category.
As most of you probably know, I used to publish a weekly update about my portfolio and outlook on the financial markets (stocks, commodities, macro economy, etc). I’m officially discontinuing the series. Why? I don’t want to be liable if you take my market outlook into consideration, and it turns out my outlook is wrong. So instead, I will be writing a few posts every now and then, talking about the current market situation (without my predictions), and explaining how it is an example of what to do and what not to do.
My thoughts on Investorz Blog for the past month.
What a great month for this blog! My traffic is once again starting to pick up (mostly search engine traffic). But what I’d really like to focus on is my blog’s revenues and costs for this month.
Revenues: This month, I hired Justin from MoneyIsTheRoot to handle all advertising for Investorz Blog. I’ve had nothing but good experiences with him. He charges a 10% fee (hence, I incurred $50 in advertising fees) for all ad referrals and successful ad negotiations. I highly recommend him if you’re looking for someone to handle your advertising.
Now here’s the message I’ll try to get across. If you have a new blog, and aren’t generating a lot of revenue, be patient! Don’t worry too much! Blogging shouldn’t be mainly for profit. Sure making money is good, but whether or not you actually enjoy blogging is what counts. ALl successful bloggers love what they do; they love interacting with readers, helping others, etc. Money should be thought of as a side effect. So if you provide enough value to your readers, the money will come. And for new, small blogs, it’s not worth your time to go out and spend too much time looking for advertisers. Your time is better spent on improving your blog, and let advertisers FIND YOU.
Expenses: You’ve probably realized that a decent chunk of this blog’s revenue went towards paying for costs that I incurred. Aside from my paypal and advertising fees (which I have to pay), the freelancer fees is what I would like to focus on in this section of this blog post. So you may be wondering, why did I hire a freelancer? For what?
The answer is simple; I hired a freelancer to do SEO work and to help build up my referral traffic. I know a lot of bloggers who just write and write and write, and eventually, they’ve made it into the BBL (blogging big leagues)! Then again, that’s not the case for 99.9% of blogs. I follow a few investment bloggers who just share amazing thoughts and information, have been around on the internet for a long, long time, and no one reads their blog. It’s just shocking.
So my point is, you got to run your blog like a business if you want it to be successful. The reason I want my blog to be successful isn’t mainly for the money (because I’m making chump change), but instead to gain a large audience. That is why I hired freelancers; to help me build up my blog’s audience size. But if you’re blogging because you want to make money, then definitely treat it like a business. When owning a business, you want expotential growth, and the only way to achieve expotential growth is to leverage off the efforts of others (in this case, the freelancers that are working for you). Invest money back into your blog. Hire freelancers to do things that can be outsourced, and focus on what’s essential to your blog (content, reader interaction, etc).
Something I should have started a long time ago, but I’m starting now.
A blog diary! I’ve created a private page, detailing everything that’s happened to my blog. It’s pretty much a diary about Investorz Blog. Below’s an image of my diary.
So what are the benefits of making a blog diary?
1) It helps me keep track of things. When your blog gets big, disorder starts. You might have had an idea yesterday, want to write about it today, and forgot what it was. You might have had a grievance with an advertiser, but forgot what you emailed the advertiser. This is a way to organize all your thoughts about your blog.
2) It acts like a timeline. One day, I want to look back at this blog and see what I did.
3) It tells me what I did wrong. No one remembers completely what they did in the past. This way, I can record my victories and my failures for Investorz Blog on this diary. I can learn from my mistakes, and fix things.
Pat Flynn from Smart Passive Income says when working on something, focus on one, specific thing. I completely agree. Hence, for the month of November, I only have 1 main goal. Increase referral traffic through guest posting. I don’t have the time to write guest posts (still way too busy), so I’m going to hire someone to write for me on other blogs. Also, Google’s PR update is coming up in probably 1 – 3 months (real soon). So these guest posts should help me increase my link profile.