Why Blog Networks May Not Be Worth It And How To Quit Your Job Faster
James Schramko here with an internet marketing update.
First, I just want to say thanks for the feedback. I’ve been reading your comments and receiving your emails that you send and I just want to say thank you. I really appreciate it. What I’m trying to do here is create a quality newsletter / video / podcast. Be sure to pick it up in iTunes. And of course there’s a YouTube channel, but what I’m trying to do is make grange. Grange is one of the finest red wines in Australia and the guy that made that was doing it in secret for years until one day people acknowledged that it was good stuff.
Now when you start a new channel or blog like this, quite often there’s really no feedback or comments for months. I’ve got a long term vision and I really think that a year from now there’ll be some great content, lots and lots of people visiting. We’re already very close to 10,000 unique visitors a month to this particular site and it’s because of you so I just want to say thank you.
One of the FastWebFormula questions this week is, is it worth building a blog network?
My answer was, well it’s very expensive, it’s very risky. It means if you would’ve put your entire business at the mercy of the largest search engine, you could expect to lose everything. In my case, I’ve been collecting websites for a number of years and I’ve been slowly building them up and to put original content and to host and renew hundreds and hundreds of domains is extremely expensive. The manpower involved is significant. I’ve never gone for the scraper, order blog thing so I was kind of lucky that I made good choices. But if you’re building original content good looking custom design sites with original pictures, you can expect to be spending tens of thousands if not hundreds of thousands to build a decent blog network and the payoff might be there but it’s also rather risky and you will lose segments of it or you may be unlucky and lose the whole thing and it has happened with several blog networks. So the answer is for most people, no, don’t bother.
Just concentrate on building a very good site with amazing on page content and build your audience and put yourself out there like I do at SuperFastBusiness.com.
SuperFastBusiness.com is my current best practice. The same thing I advise my highest level SilverCircle students. Build a good quality site that puts you out there and hooks into multiple platforms not just the search engine. Get into iTunes, get onto YouTube, get your email list happening and that gives you a little bit of protection and a real asset.
How do you transition from fulltime to part-time?
Well, firstly, I wouldn’t just step out of your job unless you’re a single person living at home with no expenses in which case go for it. No problem. If you’ve got a family or a mortgage then I think it’s more sensible to build your business up until the point where you’ve at least covered your salary from your part-time business which is what I did and I worked from 9:30 at night to 2:30 in the morning. And I did it for years and that’s just what it took but I really wanted to and I was driven and I pursued it with dedication and focus. Be that serious about it and remember it’s all a mental game. It’s totally a mind game.
You’ve got to get in the business mind-set to make your business profitable enough to quit your job. So that’s my advice. If you want to develop this discussion, get into FastWebFormula and participate in that particular thread and I’ll give you some advice.
In fact I’m running a webinar next week about mind-set and depending on when you’re watching this, it’s either coming up or it’s been run but I’m putting my best ideas on the mind-set of choosing the right things to do. Making sure you’re not focusing on the wrong things and making sure you’ve got what it takes to build a real business and to let go of that job in which case you can let go of being single income dependent which is really what a job is and that’s why it’s so dangerous and why having your own business so awesome.
Not to mention that I’ve just booked another around the world trip for later this year, should be my third time in the last 4 years which is a good enough reason for me to have stepped aside from driving a desk everyday for a living.
If you want to setup and run Ad Words for other people, I suggest you get an MCC account. You will need a different email, Gmail address to set it up but it’s a master client sender where you can actually look after other people’s accounts under your own banner and you don’t have to login to each one of theirs so it’s much easier to manage multiple accounts that way.
Buying and Selling Websites and Domains
Finally, if you’re interested at buying, selling websites and domains, I’ve been learning a lot about this. I’ve sold over 55 websites in just the last few days and that’s from my VREdirect.com site. I put up some sites that I no longer need or require that in some cases I probably sold way too cheap but they got snapped up fast and I’m getting a friend of mine Luke Moulton on a podcast to talk about buying and selling domains and websites. Now Luke used to work at Flippa.com I’m hoping that he’s got some good input. I’m going to talk about some of the lessons I’ve learned in the last week about buying and selling websites and I’m sure this is going to be a huge activity in the next few years.
Now, I’ve got a particular business for sale that generates over a hundred thousand dollars a year in profit. If you’re a serious cashed up buyer or know someone who is, then please put them in touch with me, I’m currently looking at selling this business and you will require a minimum of a hundred thousand dollars to buy into this business but you will get my help and I think it represents a significant opportunity for someone in the internet marketing space especially with a bit of profile.
If you do introduce someone, then of course you’ll probably get a little reward for that. Please don’t ask me what the site is or anything like that, it’s totally private at this stage but I am looking for a serious investor to take on a serious business that has been generating over $200,000 (per year) for the last 3 years in a row and it still generates over a hundred thousand dollars a year in profit as at now. So if you’re interested in that, contact me and we’ll take it to the next stage.
So please get on into FastWebFormula.com talk about the things that we’ve mentioned in this particular update. I hope you’ve enjoyed this episode.
Be sure to leave your comments below this video. I look forward to catching up with you next week.