No matter how you approach blogging, you should be prepared for a certain amount of losses early on. If you are doing all the work yourself in the early days these losses will simply be manifested as your time, energy, and lost earnings from doing other types of work.
If you are investing in staff and development, then naturally you should look at your blog as a business. This entails a plan for getting some revenue as well as capital, to sustain the early losses on your path breaking even by month-on-month, and ultimately leading to complete profitability.
While any truly successful blog should be able to turn a profit on its blogging costs, getting a blog to succeed is a difficult road and can take time, during which you will be burning cash.
The most useful advice I can give on monetizing a blog is to experiment and research. Look at as many options as you can, don't be afraid to try things out, and study the results closely.
It's a good idea to keep detailed records of strategies you are trying, the results they are creating, and how the different income sources are stacking up. This is the best way to determine what is going to work for your particular circumstances. Often a combination of strategies is best.
For example, you might run advertising, occasionally make use of affiliate programs, sell a product such as a book tie-in, and maybe offer freelance services via the blog.
Making money with blogs is certainly possible, and if you're lucky it can even feel easy. But for most of us, it takes a lot of hard work, trial and error, and perhaps most of all, time. What might begin as a trickle can slowly grow in size, so it's good to stick with it.
I often take the philosophy that something is better than nothing, so it's best to get something happening, until you can find a more optimal approach.
Iterating through monetization strategies means you have the opportunity to refine your ideas, do more of what works, and replace what doesn't. If your blog is popular, you will eventually find a way to turn the popularity into revenue – it just might not be as easy, or as fast, as you initially hope!
Anecdotal evidence from bloggers online sharing their revenue, suggests that typically, revenue numbers follow an S-curve. That is, it takes a while to get started, then ramps up and finally plateaus as a blog's audience and traffic steadies off.
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Note: This article was sent to us by: Ethan C. Moore at 02172011
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