This post is a continuation of Creating a Passive Income With Your Blog (Part 1).
Four Blogs: 1 Success, 1 Average Blog, and 2 Failures
So I’ve got these 4 blogs now. One of them is my original, which continues to be a success, but the newer ones are all struggling to make an income – mostly because I don’t have the time to focus on 4 blogs at once!
As I stated in Part 1 of this series, I had 2 options: (1) Sell off the 3 blogs and keep earning a consistent (non-growing) income with my main blog, or (2) I could find a way to make my blog semi-passive so that I could find the time for the added work. I chose option #2.
How Am I Making My Work Passive?
For the past 8 months or so, I have been focusing on the SEO of my site. By optimizing every single article, I have increased my search engine visitors from 20% to nearly 60%! The great thing about brand new visitors is that they aren’t expecting my voice in the article. They’re merely visiting for the information. So, by tailoring my site to the search engine visitors, I can safely remove myself without seeing a reduction in my visitor numbers.
As of last month, I felt like it was finally time to take my business from a one-man show to a 5 person company. Instead of personally writing 4 articles a week, I am now only writing 2 and letting my team take care of the rest. The average cost of these writers is $225 per month, which brings my average earnings down to $1,275, but I have now freed up nearly 30% of my time.
What Do I Do With The 30%?
So now I have this free time, right? What am I doing with it? Well, I’m creating other forms of passive income of course! Currently, I’m working on releasing my second book to the public, which will create passive income from each book sale. Next, I’ll continue to work on the remaining 3 sites to build their popularity, and then create a more passive income with these as well.
Once all of that work is semi-passive, I have an idea that will help other bloggers create a passive income as well, which will then pay me a passive wage! 🙂 Soon, I’ll be paying out nearly $1,000 a month for staff writers and a virtual assistant, but I’ll be earning a projected income of $5,000 per month! And, I’ll be working even fewer hours than if I would have stuck with that one single blog.
When Should You Start Making Your Blog Passive?
If you attempt to make your blog passive too early, you’ll most likely stunt the initial growth of the blog, and you’ll probably lose money because your blog is not yet bringing in the earnings necessary to pay for the staff writers.
I would suggest that you get at least 6 months of consistent earnings under your belt before you consider paying out wages to staff writers. Once you start earning $800 – $1,000, hire a single staff writer to provide you 2 articles a month. It will only cost you $50 (or less), and you’ll be able to free up 2-3 hours of your time to work on other projects. If this works out and your earnings are staying consistent, consider bringing another staff writer on board.
The beauty of this method is, you don’t have to risk much (less than 20% of your earnings) and you’ll be able to develop more passive income on the side as you free up more an more time from your initial blog!
Make Your Advertising Passive
When I first started earning an income with my first blog, I spent a ton of time negociating and setting up advertisements! It was great at first because making an income is fun, but soon I had to communicate with 20-25 advertisers a month and it was taking up 25% of my time.
Rather than putting my time into each individual advertiser, I’ve discovered that with my large visitor numbers, I can earn the same amount of money with affiliate marketing. And, all of my earnings are 100% passive!
Find an affiliate marketing program that suits your target market and place some links on the side of your homepage. Soon, you’ll see your bank account grow and you’re doing absolutely nothing to make the sales! If you can get to the point where your advertising income is taking care of itself, your business will soon take off like a rocket. Be prepared for massive income growth. It’s coming your way!
Are you implementing any of these passive income ideas with your blog? Do you have other ideas?