Quick Feb Update - Life Revision 2.1 :)
Published by fongrich on Tagged Business JournalThis month has been pretty wild in terms of my online biz. I did a few things and profit has hit $140/day at peak! Now, that’s exceptional. My average day is about $85/day. Which translate into $85 x 30 days = $2,550 
I won’t make that in this month because it didn’t kick in until mid month and there’s only 28 days in Feb. But I am in line to break $2K if everything goes to plan.
Now my initial goal when I started this blog was to achieve $3k/month, then it’s freedom from JOB. However, I’ve come to realize that $3K is simply not enough to live off and reinvest into the business. Plus, all this income is coming from one source. I guess a job is only one source too. But if I am to securely make it on my own, I need at least 2-3 sources of reliable income. Just so I can sleep at night.
It looks like I am going to hit $3K in a very few months. So I do have confidence that I’ll can replicate my current success on a larger scale. Also, time does help revenue just by the aging effect of my sites on the search engine. In any case, I am going to try automating this Adsense biz through technology, processes and outsourcing. That way, it can grow without much of my involvement, and I can focus on learning and developing bigger projects and diversify that income!
My New Plan…
My web development has taken a little turn. I actually didn’t publish any site this month. I have 3 site components ready, but haven’t found the time to launch them. What’s been keeping me busy lately is actually looking at organic growths. I’ve converted on of my site that I bought and it’s been working out very well. That’s $15K site I bought is actually worth a bit more now I migrated the whole thing into a new template and link structure more beneficial to the search engines, and seems they’re digging it. I’ve also set a little article marketing campaign. Everything is working this week, but knowing my business… we’ll see if it lasts. In any case, I have a good base to stand on even if it doesn’t continue to grow as expected. The key takeaway here is that, buying and revamping old websites is a REALLY profitable business. Will continue when I get more capital to reinvest.
I’m still doing article marketing which has been effective, but slower. It is only one strategy of getting traffic, and I need to develop others. Like most things with SEO, real results come in a few weeks or months later.
The greatest discovery this year is affiliate marketing. I come to realize that it can provide instant growth when you find a good program and know what you’re doing. A good converting company with good payout is hard to find. An affiliate expert said that only 1 out of 7 affiliate programs are successful. The key thing is to try many and drop it if it doesn’t work out. I think for beginners, it may be 1 out of 10-20 success. But once you find it, it can become an instant $1-3K/month earner and on auto-pilot. Of course, a optimally converting affiliate champaign will take months to develop, but it’ll be another source of income.
JOB- The more successful I get with my moonlight business, the itchier I get to quit my job. However, as the day gets closer, I think about how I would spend my day… I won’t be working on my biz all the time or I’d get burned out. I need a bit of structure in my life and I need social interaction daily.
I spent a week vacation at home and planned to “catch up” on my development last year. I think it was around Oct 06. Anyway, I realized that I didn’t enjoy having this to be my only focus and as a result I didn’t work on the business that much more. Now, my mentality may be different if I didn’t have a job and my sole income depended on the internet. But I wouldn’t enjoy it as much when it becomes a job. Since this business is developing at 60-80% optimal level (based on my current financial and mental time), I should keep it as a side thing and do some fun stuff during the day.
My plan was to take a lot of classes such as photography, programming, dance, sail, run, and etc… That’ll keep me busy, but is it sustainable? What if I get sick of all that and then what?
Yes, I want to start a big project that will send me to 7-figure freedom, but I don’t quite have the idea and maybe capital.
Here’s the Ideal Plan…
I find a part/full-time SEO job and develop their internet marketing. I’ll get to practice what I learn, and it’s actually something I am interested in. Work on my side biz at night like I am currently doing, and keep it going until I really have something that needs my full attention. This will serve 3 purposes.
1) I’ll be learning more internet marketing and business strategy.
2) I’ll in a social environment with structure.
3) It’ll before another income that’s still significant to me for now.
Con: I may get SEO burnout. Or maybe not… We’ll have to see.
I won’t be able to do all that free time education. I guess it can wait… Keeps the dream/motivation alive If this is a part time gig, I may get a lot of fun activity in during the day. This would be best scenario.
February 25th, 2007 at 1:11 pm
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