If you find an idea that makes money, thats great! If you find an money making idea that generates residual or passive income, that is even better! Even better yet is find something that earns residual or passive income that can be repeated over and over! That is why I love blogs! They moake money, and the model is easily repeatable. I have learned so much a long the way. I have money coming in from Google Adsense. I have money coming in from Amazon.com sales. And I just signed up for Kontera, and am awaiting approval.
Another thing I have done is set up yet another blog! My new blog is how-to-home.com and will cover work around the house. I already had a ton of posts that I had done in this blog. I have moved them over to the new blog in an effort to focus this blog more on making money and investing.
With anyluck I will be approved for Kontera, and I can play with those ads and see if they earn me any more revenue. I would love to have another source of revenue. As they say, multiple sources of income!!! That is another good reason to have multiple blogs. Each one gerenates a small (or not so small) amount of money. I have so many things going on that I can write about. And Google (and the other search engines) liked more focused web sites. This way if I do some work on my house, I can post about it at how-to-home.com, and if I buy/sell some stocks, I can post about it here. It will mean more money in the long run. And making more money is a good thing!
I was surprised to see I hadn’t posted an update to my portfolio since last July. My 401k has been doing the bull market thing, and has risen about $50,000! Nice! The four funds that I am invested in inside my 401k, have all been doing very well. Hey, thats why I chose them. I am hoping that it will top $300,000 before too long. It doesn’t have far to go. My regular brokerage account, and my Roth IRA have also been doing very good. Who knows, I might be able to retire one of these years.
|AF GRTH FUND AMER||$71,236.84|
|DREY MID CAP INDEX||$73,304.63|
|DREYFUS SM CAP STK||$73,056.33|
|SPARTAN INTL INDEX||$76,681.73|
Who are these guys? I originally saw a commercial for 17makethemoney.com. I wanted to get the free DVD, but for some reason I didn’t. I think they wanted to charge shipping, or make you pay for the DVD if you kept it, or something like that. I am not sure. I know I didn’t like that the guy called me at home. If I sign up for a free DVD, just send me a free DVD. I don’t want to talk to anyone at that point.
Then the other day I saw a commercial for 61makethemoney.com (maybe it 63makethemoney.com). Huh? I went to the sites and found they are the same. Then I started playing around, and found that it looks like all the domains from 1makethemoney.com to 99makethemoney.com are the same website. I didn’t test every number, but all of the ones I test came up with the same website. “What could extra income do for your family?” Why in the world would they make 99 different domains for the same website? They seem to have something to do with starting your own business. Maybe they sell these web sites? So maybe Joe Blow buys 63makethemoney.com, then he pays for a commercials, and gets a ton of traffic. He gives away the free dvds, and then the people turn around sell 64makethemoney.com, then 65makethemoney.com? I don’t know. It’s kind of flakey whatever these guys are doing.
I love having multiple streams of income. Even better, I love that they are residual, and replicatable!!!
I have been building web sites for years now. It is a hobby of mine. I don’t play video games, I build web sites. And the web sites I like building are web sites that make money!
I recently set up a web site for a friend of mine. I basically cloned one of my blogs, and set it up for her. She will have to do the work of writing the posts, but she gets the benefit of my many years of experience. But I was inspired to build yet another blog. So I registered a new domain, and by that evening had low-fat-diet-recipes.com online. I love blogs because they consistently make money. Not huge amounts, but consistent small amounts.And they are low maintenance. I don’t have to spend much time on them. Posts that I may have written a year or two ago are still earning me money. Just yesterday I noticed a rise in revenue from one of my sites. I investigated, and saw that one page was getting a large number of hits. I did a google search and found that for a certain search term, I was coming up number one. Why this happened all of a sudden, I’ll never know. But if I had never written the post, I would have been making the money. And that post was written a year and a half ago!
And I can basically copy the way I have a blog set up to another blog. I am already investigating ideas for another couple new blogs. I am trying to decide if I have enough to say on the subjects. But eeven then, one of my blogs has abrely been touch for almost a year, and doesn’t have a lot of posts, but is still making me money! I should look at doing some more posts on that blog too.
But blogs are great for setting up multiple income streams. Each of the individual blogs see rises and falls in traffic, but overall they are relatively consistant. And the mioney keeps flowing!
I recently talked a friend into starting a blog. I convinced her that she could make money by doing a blog. She had a small blog over at MySpace, but I told her to register a domain, and get some webspace so she could have more control over her blog. So she did it. I worked with her on coming up with a name that would appeal to search engines, and would be a potential money maker. Her new site will be WeightLossMommy.com. The focus of the site will be for her to talk bout how she is working on losing weight after having two children. Seeing that I have about half a dozen blogs of my own, and all making money, I think I know a little bit about it. I am guessing that her blog, once it gets going, will make between $500-$2000 a year. But it could easily make more. The neat thing about blogs is that they are easy to maintain. Just make a post every day, or every week, or when ever. I have one blog that I haven’t posted on since last year, and it is still making me money. I have a travel site that really only gets posted on when I travel, and it is steadily making me money.
I am starting to think about what new blog I can set up that will have good potential to make money. Once you have one going, it is really easy to repeat the process and set up yet another, and another blog.
And since it is hard to write a lot about one topic, it is nice to have multiple blogs. The search engines like blogs that are more focused. So I will try to focus each blog on a relatively narrow topic. It also has the benefit that instead of writing 20 posts on one site a day, you can spread them around, and add a post or two to each individual blog.
One thing I noticed, is that my blogs ebb and flow. Sometimes one blog will be doing really well, and another will slow down. Then a couple months later, they reverse, and the one that was slow is now doing great, and the other has slowed down. So that is another reason to have multiple blogs, thus multiple sources of income!