I’ve Hit the Wall
Written by mbpage on November 14, 2008
Yep it’s finally happened I’ve hit the wall. I think I’m on track for another record month, will I certainly am with the sterling depreciation v the dollar which I incorrectly reported last month had put downward pressure on earnings. Can’t believe nobody pointed that out. A sterling fall means more pounds for my dollar earnings lol.
Anyway I’m now juggling too many balls and I don’t think I’m going to get past $2,500 per month without outsourcing some of the work. As I stated before my goal is to turn this into a $100,000 business within the next 2 years. It seems the most sensible route is to outsource a lot of the content production so I’ve added a couple of proposal requests to Elance and I gotta say there are some dam good people out their charging very reasonable rates.
This leaves me free to focus more on building the other two or three supersites I’ve got planned, monetization and the seo and link building side of things. In one way I’d rather write the content but I can’t see me trusting anyone enough to build links at this stage.
If you wan’t to build a business you need to outsource. When you, or if you have hit the $2,000 per month mark I encourage you to reinvest a proportion of your proceeds to take the business to the next level. One thing I am aware of from reading countless posts and forums is the number of people who claim not to be able to afford relatively low cost investments that would grow their business.
When I was only earning a couple of hundred bucks a month I was still trying new scripts, tools and plugins which cost money. Don’t be a cheapskate - remember you can make money without cost in this business e.g. montetize a squidoo lens - no cost other than your time. There isn’t another business opportunity on earth that enables you to do that. To try something similar on main street you would have to take huge financial risks so don’t worry about a couple of hundred bucks even if you lose it.
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Posted in: Strategies, Tools
4 Responses to “I’ve Hit the Wall”
Mike -
Congrats and GREAT job with it!! I agree completely with the outsourcing of time consuming tasks!
At the end of every month, I allot 20% of all earnings immediately back into the business for maintaining a few key sites!
eLance has come in handy several times!
Mark
By Mark - The Niche Store Builder on Nov 15, 2008
Reinvesting website profits back into promotional and SEO methods such as link building, advertising and so on is a GREAT idea to keep your site flying well & with full speed.
The process is exponential, the more you put in, the higher you get. Thanks for reminding us of this,
Cheers,
A.
By Anthony on Nov 20, 2008
@Anthony
Spot on. I am starting to see the benefits. I have had 40 PLR articles rewritten for $120. Had I done them myself it would have taken me a week (because it’s not a job I enjoy). A week of my time to focus on doing other tasks is worth $1000. In other words I was wasting $880 per week doing it myself.
By mbpage on Nov 28, 2008
@Mark
Thanks - just found your comment in askimet spam. Should have checked sooner.
By mbpage on Nov 28, 2008