If you are looking to blog, please understand that you are going to be spending money. You may be shocked to discover this because you’re thinking that you’re just investing your time.
Well, as the old saying goes, time is money. How come? Well, instead of blogging, you could have been spending that time doing something else that would put dollars in your hand.
The reason why people choose to go with blogging anyway is because they understand how passive income works. In other words, they get the idea that if they publish a blog post that is able to pull traffic from the internet, they would have only worked once, but that effort will continue to deliver money long into the future.
What if I told you that a lot of people have posted a winning blog post that generates $10 every single day. Now, you may be thinking that $10 is a small amount of money. That it just basically amounts to beer money. Well, that’s $10 every single day so that’s $300 every month. What if on that blog, you have 20 posts that make $20 a day? Well, if you do the math correctly, it’s $6,000. Not too shabby.
In fact, $6,000, for a lot of Americans, is a lot of money because that puts you over the 60,000 median income range. I share this with you because a lot of people are under the impression that their time has no value so they can just pick an activity and devote time to it. You have to set the right personal budget for blogging. You have to look at it as an economic enterprise.
It’s not much different than working. I’m sure you’ve had your choice of different jobs to take. Some pay more than others. Others have a better career path, so on and so forth. That should be your frame of mind when setting a personal budget for blogging. Because the way you choose to blog is going to have a direct impact on how much money you’re eventually going to make.
Please understand that if you’re blogging for money, you must blog for money. I know, I repeat myself. I know that sounds like common sense. But unfortunately, when it comes to the internet and anything related to making money online, common sense is really not all that common.
If you’ve read a lot of make money online blogs, you know exactly what I’m talking about. The reason why a lot of people fail to make money blogging is not low IQ. These people obviously know enough about their passions. They know the English language well enough to express themselves.
All that is well and good, but they’re missing one thing. They don’t have a plan. And a key part of that plan is setting a personal budget on your resources and believe me, your most precious resource is your time.
Now, you may be shocked about that because you’re thinking that time is free. I wake up one day after the other and I have a whole lot of time. In most cases, I don’t do much with my time. How can I say that my time is the most important and the most precious asset that I have?
Well, the truth is that you could always trade-in your time for something else. In other words, you can convert it to something else.
If you put time into your body and you hit the gym like clockwork, you’re going to look really good at the end of the process. If you invest your time in your relationships, you’re going to have more meaningful relationships. If you invest your time in your mind by reading a lot of books or talking to very experienced and knowledgeable people, you are going to be a wiser and more knowledgeable person. I can go on and on.
The truth is time can be converted into something else. Whereas money can’t. While you can convert time, once it’s gone, it’s gone. So you have to use it properly. And that’s why you have to take rifle shots when blogging.
Here are just some crucial parameters you might want to consider so you can go about setting a personal budget for blogging the right way.
Quality over quantity
You only have a certain fixed block of time every single day to devote to blogging. Make it count. Instead of just blogging about the first things that come to your mind or converting into words and letters any half baked ideas that enter your mind, tighten them up.
Cross-reference them with market factors like niche relevance and audience demand. See if that blog post that you have in mind actually has an audience or if there’s an actual demand for it. Once you have figured that out, come up with the very best.
Reverse engineer your way to success
The good news is whatever it is that you’re trying to do with the blogging world, somebody has already done ahead of you. Now, this might depress a lot of people, but this is actually good news.
Just pay attention to what they’re doing and figure out what they’re doing right. Now, follow what they’re doing and put your own personal spin. It’s that simple. That’s called reverse engineering. While this isn’t the ultimate secret to success, it definitely gives you a good place to start.
Learn from your mistakes
The sad truth is that when you look at your statistics for your blog, not all your blog posts are pulling traffic from the internet. Focus on the ones that are, make more of them, scale up your success, and learn from your mistakes. You have to work on this every day.
Keep the tips above in mind if you want to be truly successful in managing your resources. Setting a personal budget for your time in blogging is the most important decision you will ever make because this way, you will make sure that you assign the right asset to the right activity to produce the right results. It’s really that simple.
Unfortunately, a lot of people fail with blogging because they look at it as some hobby. It’s not a time sync. It’s not a waste of time. Don’t make it a waste of time. It is a targeted investment of your resources. Treat it accordingly.
About the Author
Sam White lives just outside Dallas, and is a full time financial planner, and part time blogger, who is about to launch his personal finance blog.