One way to make a blog more valuable is to use the “sticky” technique. This is using techniques to ensure you are building new and regular readers who will be returning day after day! Bottom line is that sticky websites are making more money.
Creating a profitable blog isn’t just about making more money while you sleep or one day getting away from your day job but to also create an asset you can sell in the future – just like a real estate. Maybe you are dreaming of retiring one day and travel the whole world, buy a beautiful place in the Philippines or you just want to feel financially strong.
When you flipflop or sell a website the accepted computation is that you can sell it usually for 12 months revenue so if you are making $300 a month, you can then sell it for $3600. Of course, on some occasions the site can sell for a lot more. I know of some blogs sold for more than $5 million with just $6,000 monthly revenues.
You should “Have the end in mind and make sure every day you are working towards it.” You need to be thinking from day one who you want to sell your website to years down the road. For example if you are starting a tech review blog then you may consider selling it to maybe Google one day, who knows?
The best type of competition is your own and so once you have mastered one successful blog you may want to consider launching another blog related to your first. I have a good friend who did an amazing job when he first launched a freelance blog, less than a year later he found his readers also wanted to learn more about Photoshop so launched a new blog for that and with in a couple years he now has over a dozen blogs earning up woods of a million dollars a year. He was only able to do this so successful because they were all related and so every time he launched a new blog everyone jumped on board and started reading it.
One thing which I am a huge believer in is funneling back your money into your projects. There are so many bloggers who are already earning into thousands of dollars from their blogs but sadly forget to put anything back into it. There will come a time when your blog can’t improve much further without you investing some of your money.
So in the future when you sell your blog, you may want to consider reinvesting your money into an even better blog. I often think that a lot of companies are investing millions into their websites because they want a piece of the pie. With the internet, business is totally different. It’s hard not to be successful and so when you invest money, if you don’t get a return then it’s not a bad investment, you just probably got scammed.