This Fast Trac entrepreneurial course is kicking my butt as I discover the fast track to write blogs for money. Course Leader Larry’s regular reminder to work ON my business instead of just IN it has already shifted my thinking on how I plan to make it all happen.
If you read the other blog posts in this series, you’ll remember that Course Leader Larry asked us to plan a business that was making $100,000 in Year 3. Even though my original intention was to replace my day job salary that had ranged from $45-70K, the idea of making $100K with a lifestyle blog was a whole lot sexier!
However, I still had to figure out exactly HOW I was going to pull in $100,000 with my blog. As an affiliate blogger, my income would depend on commissions of other people’s products.
Bloggers are not required to create their own products, and most bloggers probably don’t – which is totally fine. I learned through Pajama Affiliates that there are millions of dollars being made online by bloggers promoting products on online retailers such as Amazon, Clickbank, Etsy, and Zazzle, so one of the best ways to write blogs for money is to promote their products for affiliate commissions.
That’s a fantastic way to make a living, and I’ve already been making sales that way. BUT, I already have an ace up my sleeve because I had started writing my OWN book in January of this year!
Because I wasn’t ready to go public as a LOVE BLOGGER, my manuscript collected virtual dust as I neared the end of writing it. The closer I got to finishing my eBook, the more I started dragging my feet on it! But as I mentioned, Robin Cockrell, fearless leader and coach at Pajama Affiliates, held my hand and talked me off the ledge as I made the transition from blogging about music marketing to blogging about dating and relationships. Whew!
Starting a Blog for Money
So since my Fast Trac entrepreneurial course requires me to be more aggressive about starting a blog for money, I instinctively knew that having a digital product of my own would give even more control over my income.
For one thing, having my own digital product would build my online platform, and position me as a Thought Leader in the online dating niche.
I had already done this in the music marketing niche by writing a music business column for VIBE Magazine for two years. And as a music and small business marketing blogger, I had already written 5 eBooks: The DIY Guide to the Music Biz, Twitter for Musicians, The Musicians Roadmap to Facebook and Twitter, Internet Famous, and Online Entrepreneur, and I created online and offline workshops for all of them.
So even though I’m new to writing about dating and relationships, I learned that my writing, speaking, and teaching skills are easily transferable. Regardless of the niche, launching a new eBook will be relatively easier and faster because of the eBooks I’ve already written, which also helps establish my credibility and authority.
Another method of establishing credibility is to partner with someone already established in my niche, and guess what? One of my Fast Trac classmates is a LOVE COACH! Since Larry’s ongoing homework is to network with 3-5 people in my industry each week, I asked Elitia Mattox to be my first assignment!
Elitia Mattox is Founder and Relationship Coach at When Love Works. With a strong background in psychology and education, Elitia has created a methodology to transform relationships with lovers, family, friends, and colleagues. “Even if you think you aren’t in a relationship, you are,” says Elitia, “The great news is that the tools we empower you with are universal relationship skills.”
Elitia also believes that a relationship can be transformed with a little work and a lot of love. She’s on a mission to create a LOVE movement, one relationship at a time!
So you can imagine that my networking meetup with Elitia was inspiring and enlightening! As we chatted like old friends, I asked her if I could interview her for a podcast interview for my dating site. She blew my mind when SHE suggested possibly working on a digital product together!
Can you imagine how awesome that would be?! Before, I was just thinking about creating my first product. Thanks to Elitia, I’m now thinking about a product LINE!
Blogging for Money from Home
Before I could get even more carried away about blogging for money from home, Larry dropped a bomb in the class.
While it was exciting to think about how I would create $100,000, for Class 4, Larry had us look at our expenses, and do the math to see how much money it would take to MAKE that $100K.
Obviously, I hadn’t thought that far ahead. For one thing, I hadn’t considered paying myself a salary. I had to include the cost of how much I’d pay someone else to do what I do. By the time I started tallying the other expenses that I forgot to include, such as rent and utilities, my EXPENSES were $100K.
In other words, my blog would need to create $200,000 in revenue in Year 3 to cover my expenses.
Looks like that product line will come in handy!