Business in a blog
So building a business out of blogging, like any business, involves investment both in time and money. The questions you want to ask are:
- What costs need to be accounted for?
- Where will the revenue come from?
- How long will it take?
Along with these high-level business questions, you’ll also be wondering about the practicalities of running a blog as a business, planning direction, finding and hiring staff, creating content, and marketing. In this book I aim to answer all these questions as well as to give you a practical, hands-on guide to building a business out of blogging. Like any business, it will take hard work, dedication, savvy, and a bit of luck. As someone who has built a number of blogs, I hope reading through my experience and methods will help you find your path to success.
Risk and reward
Every business investment comes with risk and certainly blogging is no sure thing. The risks in creating a business out of blogging include:
1. Choosing a Low Potential Niche
Perhaps the biggest risk you run is creating the wrong blog. If you start a blog in a niche that has limited potential either because of the audience, the competition, or the revenue potential, then you create a significant impediment to success. You can shift the blog, reinvent it, invent a new way of finding revenue, trounce the competition somehow, or grow the topic’s audience … or you can choose a niche with strong potential to begin with! We’ll deal with selecting a niche in the next chapter.
2. Not Producing a Popular Product
Assuming you’ve picked a good niche to blog in, you still run the risk of producing a bad product. Maybe you hire the wrong staff, maybe you don’t figure out what sort of content people want, or maybe you get the frequency of publishing wrong. There are plenty of factors that go into a good blog. The best way to learn about them on an instinctive level, is to read and think about other blogs in your spare hours over a reasonably long period of time.