I’ve had some good fortune this past year picking up some new, well-known, customers that have been placing lots of advertisement orders with me. If you have been following my monthly income reports then you are probably aware of my steadily increasing income over the past 12 months. You are also probably aware that I have been trying to put the extra income to good use by investing in rental properties and building up my SEP IRA. Still, I can’t forget the initial investment that made all of this possible and that is investing in websites. While building up a good loyal customer base is the source of my revenues it wouldn’t be possible if I didn’t have the foresight early on to take my earnings and buying up more web properties. Because of the additional money coming in over the past year I have been trying to diversify more by investing in real estate and equities through my online brokerage account. Then it hit me recently that I’ve had the longest lull in buying up new sites since I first started, it had been about a year and a half since my last purchase. While I already had a nice stable of web properties, if I want to grow my business further and keep the earnings at a stable and increasing level, then I need to get back to the basics!
My Stable of Sites is Growing Exponentially
Over the past several weeks I have purchased an additional 11 websites! That brings my total stable of sites up to 39. My goal is to rapidly make my way to 100 sites. I think with 100 sites I can leverage my empire of blogs to a sustainable six figure income with ease going forward. Keep in mind that is just six figures with the sites I personally own, which doesn’t include my ad management business that has grown leaps and bounds over the past several years. While I don’t like to disclose specifics on individual sites, I will say that these additional 11 sites set me back over $20,000 in total. Now there are sites out there that cost $20,000 all on their own, but I prefer to take decent performing, but somewhat dormant, sites that I can build and expand on. It’s certainly not an easy take but with my many years of experience it is definitely doable.
How I Plan to Build and Monetize Them
While these sites aren’t all award winning slam dunk investments, they are of decent enough quality that I can diversify outside of direct advertisement placements and focus on growing traffic and click-through sales. This is really the ideal way to build income because the revenue is more passive. I simply need to hire writers for the site, I already have a great tech person on staff, and I have enough knowledge to grow the readership base and build out the search engine optimization on each one. Ideally, I want to start with strategically placed Adsense on each site for click-through revenue, and then get a feel for the type of traffic I’m receiving on each one. By doing a little bit of keyword research I can target for search terms that are already performing well on the sites and then place affiliate ads on specific pages that will convert well. In laymen terms, this simply means that if I have an article about creating a website that is performing well then it makes sense to place my Bluehost affiliate ads on that page that should naturally drive passive revenue. All in all, there are a million different ways to monetize sites, and even use those sites to leverage and build online earnings in general. That means more advertise contacts I will receive via contact forms from every site, and just a general exposure to more people. It’s amazing how often I am hired to write articles, send out social media blasts, or share important products with my mailing list subscribers just because of the online presence I’ve been able to build over the years.
Immediate and Long Term Goals
It’s always good to take stock of your short and long term goals every now and again. It’s what keeps you focused and aligned. I always have a sheet of paper, or my trusty Evernote list of items that need to be accomplished. After this spate of website buying I am now going back to customer outreach. That means reaching out to past customers that I have experienced a slow down of work with, and reaching out to new customers via Linked In, Facebook, or just good ole fashioned emailing. I also took some time this month to create a Benchmark account for all my mailing list activities. It’s good to keep my regular customers abreast of the new online properties I’m purchasing in case they are interested in ordering currently. Most advertisers have a monthly or quarterly budget to spend, so it’s good to send out friendly reminders that you are available for orders if needed.
In the long term I plan on reaching my goal of 100 sites! Unfortunately, with more sites comes more responsibilities. That means additional technical costs, massive amounts of content creation, and a whole lot of maintenance and upkeep in order for the sites to remain relevant and popular. Still, there is no better way for me to grow revenue than to grow my stable of websites. Keep in mind that every site I purchase is no slam dunk. It takes a significant amount of time to find just the right site, then to contact the current owner and negotiate on a fair price for us both. Then there is the whole process of transferring the domain and site contents over to my hosting (which can be quite costly) and then working out and implementing an action plan for building the site back up.
Stay tuned for regular updates on my real estate, equity, and website investments on my journey to what I hope is an earlier retirement than the norm. I enjoy my day job and my side hustle, but at some point in the future I need to shore up a little more personal time as well.