Why Most Bloggers Never See Their Blogs As a Business

Two bloggers, Martins and Smith were walking on the road and the following dialogue ensued:

Martins: Smith, how do you consider blogging?

Smith: Well, I think blogging is a big business

Martins: Blogging, a big business? How?

Smith: Because it is run like any other business

Martins: Don’t you think other businesses are different from blogging?

Smith: How do you mean?

Martins: Other businesses are operated by real businessmen while blogging is operated by bloggers

Smith: Oh! I see! But what makes a business?

Martins: Businesses involve investment and they generate profits too

Smith: Really?

Martins: Yes!

Smith: Don’t you invest time, money and intellectuality into blogging?

Martins: Yes, we do

Smith: Don’t blogs generate incomes from AdSense, advertisement, affiliate sales, sponsored posts and links, flipping, membership, etc?

Martins: They do

Smith: Then how are blogs different from other businesses?

Martins: Hmmmmmmm! I never considered these questions before. I thought only those businesses with a tag are qualified to be called a business.

Smith: Anything that involves investment of any kind and then yield profits is a business

Martins: Oh, I see! Thanks for the clarification. I will start taking my blog as a business from now henceforth.

Are you still in doubt?

Do you still wonder if your blog is a business? Did you start your blog as a past time? Did you build your blog because you just wanted to share your thoughts with the world? A lot of people started for one reason or the other – share thoughts, update personal album, promote business brand, sell products, solve people’s problems, provide tutorials, etc. So everybody actually started with a dream, and each person’s dream could be different from the next person’s.

However, some of these dreams get modified as time goes by. New ideas crop up and get integrated into the dreams. Those who started with the purpose of sharing their thoughts, updating their albums, providing tutorials or solving problems begin to see why they should add a little way of making money so as to keep maintaining their blogs or take care of other personal needs.

What makes blogging a business?

The following characteristics make blogging a business; and if your blog has any of them, then you should consider it for what it is – business:

Generates Income: Businesses generally generate incomes for their owners. Income could come from selling products on your site (profits), earnings from advertisements, membership fees, consultancy, etc. So if your blog gets money from any of these channels, your blog is a business.

It’s an investment: Business involves financial investment in order to get make profit or interest. Wikipedia defines investment this way, investment is putting money into an asset with the expectation of capital appreciation, dividends, and/or interest earning

In other words, your blog is an investment because you are paying for web hosting, website design/development, templates, plugins, special scripts, webmaster services, etc, with the intent to make some gains either in the immediate or in future. Apart from investing money, you are also investing your time on a very serious note. Hope you agree with me on this?

Employment generation: Employment generated by blogs is a two-fold thing. The blog owner is gainfully employed, and secondly, he employs writers or maintenance engineers to keep things moving smoothly on the blog. To be able to create employment, you are either a businessman or government.

Retirement plan: A good business helps to secure the future of the owner. Good businesses are assets for the owners to lean on during their pension years. Blogging also provides that security if it is well handled and given the necessary attention it requires.

Similarities between blogging and other businesses

When it comes to business, there are a few distinguishable types of businesses that readily come to mind, and they include the following:

1. Sole proprietorship: This is the type of business that is owned and managed by one person. Decisions making is done alone, and the death of the owner could also mean the death of the business. Most blogs are similar to the sole proprietorship kind of business in that the blogger runs his blog alone. He takes decisions alone, expands slowly and he’s a jack of all trade.

2. Partnership: Partnership business involves two or more persons coming together to do business. While conventional businesses can operate on a partnership level, blogging can also be a partnership investment. A good example of partnership blog is the LeapZone Strategies where Isabelle Mercier Turcotte and Margarita Romano have been working together since 1996. Of course they both invest their moneys and also share profits and loses together.

Other forms of business exist but we are okay with just these two. At least they have helped us to make our similarities. Now that we have seen the different types of businesses, that takes us to the next point.

Why then do blogging businesses fail?

Before now, some of us were not seeing blogging as a business. But now that we know, it is good to understand why a lot of blogging businesses fail. You don’t know some blogs fail? Well, they do, really! The nagging question that needs an urgent answer is why do blogging businesses fail?

1. Failure to invest: One of the things I talked about earlier concerning business is that business requires investment (both finance, time, intellectuality, etc). Unfortunately, a lot of bloggers who are hoping to make money with their blogs are not investing real money to raise the standard of their blogs in order to make them marketable. Relying on freebies to run your blog in all aspects would at best make your blog a dumping ground for substandard materials.

2. Lack of focus: Failing to focus on one’s dream or niche is one of the greatest reasons why a lot of bloggers fail to make it in their businesses. It has happened to me in the past. When I started my blog in 2009, it was pulling traffic and growing by the day. Suddenly I lost focus and began to pursue other dreams. That blog eventually paid the price of my loss of focus.

3. Not driven by ambition: If you are not ambitious enough as a blogger, it would be difficult for you to succeed in your blogging business.

“There’s no luck in business. There’s only drive, determination, and more drive.” -Sophie Kinsella, Shopaholic Takes Manhattan

“To become successful, one must put themselves in the paths of giants!” – Lillian Cauldwell

The moment some bloggers attain a particular height, they feel they have arrived and there is no more need to improve or grow. The zeal to add more flavor, innovation and new features is simply not there anymore.

4. Neglecting your customers: Customers are the real gem of every business and they must be treated with care and love. Unfortunately, a lot of business owners do not realize that their sustenance is ensured by the patronage of their customers. They simply treat their customers with disdain.

“It is not the employer who pays the wages. Employers only handle the money. It is the customer who pays the wages.” – Henry Ford

“If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.” – Jeff Bezos, CEO Amazon.com

“Quality in a service or product is not what you put into it. It is what the client or customer gets out of it.” – Peter Drucker

My word of advice

We live in a world of intense competition, and only those who are willing to go the extra mile to do what others are not willing to do actually make it. As a blogger and a businessman, for you to succeed in your niche, you need to add the following to your portfolio:

Invest in your business: Stop depending on freebies to run your business. The fact there are freebies and still there are paid versions of the same product is enough to convince you that freebies and paid products are never the same. In as much as you would need some freebies, you need also to invest real more to add some cutting edge to your business.

Remain focused: If you chase two rats at the same time, you are going to end up getting none. Once you have a dream, make sure to pursue it to a logical end. Don’t get unnecessarily distracted along the way. Distraction and lack of focus are dream killers, and so they must be eliminated at all cost.

Be driven by ambition: Don’t just go into any business because others are there. You must have the ambition and enough hunger to succeed in your chosen niche. If the ambition is strong enough, adequate energy would be released to help accomplish your dream.

Treat your customers like gold: Yes, you heard me well! Your customers don’t deserve anything less. They pay the bills, and if they withdraw their patronage, you are nowhere. One satisfied customer brings 20 more; but one dissatisfied customer chases away 100 more. Do you agree with me?

Conclusion

Blogging is a business and needs to be treated as such. Stop treating it with levity because your future could largely depend on it. If you want your blogging business to prosper, you must be willing to invest money, time and intellectuality into it. Freebies alone can never give you the best in your business. Remember that you don’t pay the bills, the customers do. So never treat your customers shabbily because they are the reason you are still in business.

Well, I would love to hear from you. Share your contributions or leave a question. Was this article helpful to you in some ways? Then remember to share it with your friends.

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How A Finance Blog Can Improve Your Finances Through Online Marketing

You don’t have to be a financial adviser to start a finance blog. All you really need to do from the beginning is to have a passion or vested interest in it and share your views about finance. Better yet, if you have any tips or methods to improve your finances, then your blog will grow popular very quickly if you have a lot of value to offer.

But how can you actually make money with a finance blog though? It’s really simple although there are several ways and variations of them.

The most obvious way to make money with a finance blog is of course, selling your own services. If you are already a financial adviser or financial planner, then all you need to do is post some sort of content on your blog that showcases your credibility in the field. A lot of financial advisers or brokers offer consultations through their content as they get found easily through different channels online.

This puts you at a huge advantage since the online world is vast and large which means plenty of opportunity to explore different segments of the market.

There are other ways to make money through a finance blog even if you’re not a financial expert of any kind. You can post content and sell a course or a service offered by someone else and get paid some referral bonuses or commissions. This is the concept of affiliate marketing and is often used with other blogs in different industries such as food, fashion or even travel.

You can even partner up or joint venture with a financial adviser and post content promoting them, while you take a commission from their referrals. It is just a simple concept really.

Another very popular ways to make money from a finance blog is advertising. Ever wonder how a lot of magazine, TV or any other press or media entities make a lot of money? Well they simple get a lot of audiences to see their material while have a bit of advertising and commercials on the side. You can do the same with a finance blog if you have ads everywhere related to your niche.

Google Adsense is such a method that is based on this concept. You basically allow Google to load up your blog with ads and then you get paid a little bit every time someone clicks on them. All you really need to do is drive traffic to your finance blog.

You don’t even have to write your own content. You can always hire writers who are financial experts or at least knowledgeable in that area to write for your finance blog while driving traffic to your site and services. You can just as easily set up a simple WordPress blog and start posting content and promoting it via social media or search engine traffic.

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Personal Finance Blogs

More and more personal finance blogs are popping up every day. Some discuss how they are going to make their first million dollars, others are about how to be frugal and save money, while others are more focused on paying down debt. It’s great to see such an interest in personal finance, and it’s fantastic to be able to be an observer and watch step-by-step how people take control of their financial situation.

One thing to conscious of as you read through personal finance blogs is that they are often not written by professionals in the field. In my opinion this has some strengths, as they are true accounts of strategies, products and systems that actually work for the author and it’s readers. But that also means it is even more important for you to do your due diligence before acting on any of the information given on these sites, as it should be regarded as opinion rather than professional advice.

That’s not to say there isn’t very valuable information that can be found within the pages of these personal finance blogs. Many have been listed in Money Magazine’s best personal finance websites, and listed in the New York Times and the like, so they do come with a level of credibility. Secondly, authors tend to do their very best at publishing accurate information in order to maintain their level of credibility and attract more readers.

The real gold, however, is often found deep in the comments section after each article found in the archives. Since most of these blogs allow anyone to leave a comment, it is not unusual to see people with competing views debate an issue, which is great for the readers. This is where you will often find certified professionals give their thoughts, argue points or include some additional background to help you make the most out of your financial situation. These comments allow you to see things from all angles so you can make the best decision based on the information at hand.

You probably don’t wan to let these personal finance blogs be a substitute for professional advice, but rather help guide you to a starting point and give you some general background information. Each person’s situation is slightly different, and what may work for one person may not work for everyone. However, the same fundamental concepts generally apply when working to pay down debt, manage money or accumulate wealth, so they are a great starting point.

Beyond that, you will often find honest personal finance software reviews, documents to help you stay organized, and general stories that will help you stay motivate and inspired to reach your goals.

With all of the personal finance bloggers out there, there is a wealth of information at your finger tips that can truly make you rich. Find the one’s you can relate to the most, and add them to your RSS feed. That way you can easily read through the new content on each site in one place, making it easy to read all of the fresh material.

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Finance Blogs – 3 Ways You Can Make Money From Them

Nowadays most internet users are familiar with the concept of online blogs. Indeed a lot of people run their own blog, whether it’s a personal blog or a blog discussing a certain subject. However in this article I want to talk about the various different ways you can make money from a personal finance blog.

Personal finance is a classic example of a subject that is perfect for bloggers because there are endless different things you can talk about. For instance you can discuss budgeting, credit cards, loans, mortgages, pensions, property, saving, share trading, taxation, and so on.

Each of these subjects is potentially very profitable in it’s own way. The secret to success is to pick a subject that you are most passionate about and then decide which type of revenue model(s) you are going to use on your blog. You essentially have three different options.

Firstly you can sign up to Google AdSense or one of the other PPC programs. By doing so you will be able to place blocks of ads on your blog and earn money every time someone clicks on one of these ads. In the finance niche this can be highly profitable because there are times when you can easily earn several dollars per click.

The second option is to forget about these ad networks and sell advertising space yourself. This will often be significantly more profitable because by doing so you are keeping all of the advertising revenue yourself. Adopting this approach allows you to earn money in advance so you can therefore invest this money back into your blog in order to help it grow.

The final option is to use your blog to promote various different products and services as an affiliate. This is often seen as being the most profitable income-generating model because in the finance niche there are a wide range of different products and services to promote.

For instance you can promote stock brokers, Forex brokers, bank accounts, savings accounts, trading software, etc. You can even promote some of the premium training courses if you so wish which offer very high affiliate commissions in most cases, sometimes as much as 30-40% per sale.

So the point I want to get across is that there are many different ways you can earn a decent income from a financial blog. The trick is to build up your site and try and attract lots of visitors. This will help you to test out each method and determine which one is most likely to make the most money in the long run.

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