In an early post I shared that everyone will be an affiliate of something, but that won’t be enough. The day of a single revenue source are behind us, we will need more than one revenue stream in order to survive in the new business landscape. Just selling real estate won’t be enough, or providing one consulting service, you will need to provide value added services, provide other products that are useful to your clients.
Most entrepreneurs are always looking for that next thing to sell, that next problem to solve, because they know that if they don’t keep solving problems, consumers will use the first person or business they find. The bigger issue would be, how do I stay top of mind, how do I ensure that I am found, and how do I know I’m being heard. You’ve read it here many times, make more than you consume. make more of whatever you are selling or whatever solution you are providing.
Now, it’s not enough to just slap some ads on your site, or sell more stuff than you used to, and call it multiple revenue streams. You need to think long and hard how these value added services or products will be incorporated into your business, into your marketing, and how you will handle orders….there is much to consider. You can’t willy nilly it for the sake of making a buck. Although there will be many who do just that, unfortunately I don’t have the power to make those individuals stop.
There many ways to go about finding multiple revenue streams, some simple, and some, not so simple. I like simple to be honest, here on owengreaves.com you don’t see too much complication here. I promote Headway Themes, why? I think it’s the best, if not the best theme for WordPress. So I can’t recommend the product enough. I even have a page dedicated to it, with a list of over 400 sites using the theme, I list them so you can see what others are doing with it.
What you may not know about owengreaves.com is, I also have my own webhosting company, I use it for clients and friends mostly, why? That’s another blog post, but, there are another 3 Billion people coming, many will need webhosting, I just want to be able to provide that service, and….solve that problem.
I spend the majority of my time studying trends, tons of data, and look for interesting things in human behaviour, why? So I can share with you my findings on the future of business, much is changing and most people in this space aren’t really paying attention to it. You would think, if that’s true, why do I spend so much time there? Simple, most aren’t, and I can help business owners and entrepreneurs create new ideas to adopt that future I’m talking about.
I do consulting work in many areas of my studies, think-tanks sessions, workshops, and I do alot of public speaking to ensure my message is heard. All are different kinds of revenue streams, all have a slightly different way of generating income. One or two will be your primary money shakers but, you will need a handful of ways to fill the bucket with coin.
If you haven’t given this much thought, if you haven’t sat down and looked at your business from this perspective, if you haven’t considered different products and services around your single revenue stream, you will have a difficult time surviving in coming years. The next 3 -5 years, not 10 or 20, the business landscape is changing faster than you think, and people aren’t going to tolerate you dictating, they won’t come to you, you will have to go to them. How, through a mobile device’s and virtual reality.
What ideas do you have to enhance your one revenue stream, have you considered having multiple revenue streams, 5 or 10 different revenue streams. And will these products and services be yours, most likely not, you will be an affiliate of most of them, but you will have your own. That’s where the profit margins will be greater, in your own products and services.
How do you see the landscape of business in the next 3 – 5 years from this perspective? Thoughts?
I was having this conversation and the topic became very clear, one revenue stream will not be enough in the future to make a living. Everyone will become an affiliate of something. I found this to be true here on owengreaves.com, I do workshops, public speaking and I have links to affiliate products and services. I also own a webhosting company called Billyhost.com, as you can see I don’t rely on just one for cashflow or a primary source of income.
The younger generations get this, they have multiple passions and want to experience them all. They do something different for each one to pay for those said passions. They find a product or service that is in-line with that niche or passion idea. We all must adopt this theology if we are going to insist on doing business on the Internet. Yes there will be a few exceptions but for the most part, most of us will need to leverage multiple revenue streams to be able to do the things we dream about. But survival will require us to think outside the box and align our passions with those niches that will help us make the most money.
In my workshops I help you find those alignments, show you examples of those who have gone before you. I’m trying to plug the workshop, I’m sharing that there many of us out here that are doing it, and doing it well. We want you to learn and grow, that’s why we share here on the Internet.
If you have read many of my blog posts, you will have found an affiliate link or two along the way. You will also notice that I have a page for Headway Themes, I am an affiliate of that product, it’s the best WordPress Theme on the market in my opinion, and based on the sales, many seem to agree. I sell Headway because I run a WordPress Blog, and I run a Webhosting Business, which means I build a site or two. It’s in-line with my interests and it helps me make money.
Simple right? Not really, but you get the idea. So if you were going to align yourself with an affiliate product, what might that be, how does it relate to the passion you are wanting to experience, how will it make you money to experience it?
When the other 3 Billion People get online, you will have a whole new market to leverage, and with 5.1 Billion here on the Internet, everyone will need to be an affiliate of something. What do you think?
The past few months have been interesting to say the least, and in closing out 2009 I have been getting a variety of requests on my Blog, including speaking & consulting opportunities. When I started blogging I was hot and bothered about Nanotechnology, why people weren’t talking about it and how it may or may not impact our lives. That turned out to be a dead horse.
I then shifted energy to my other passion, I.T. Strategic Planning, that has developed some interest from a business perspective.
Lately, the biggest area of interest is Social Media, monetizing a blog, and how to get traffic to it. Go figure.
Anyway, My question for you is, is learning the ropes about blogging and or monetizing your blog important to you, do you want to know how and where I’m having success with it? Late 2009 and so far this year has proven profitable teaching and sharing on these items. Please do not take this as bragging, I’m merely sharing and want to know if you want to learn how I have done it. Or, is there something else you would like to see covered?
Thanks for your time, please let me know so I can discern where to invest my time serving you.
Please send me an e-mail with your input and or request: firstname.lastname@example.org
Now that you have read the 3 Core Traffic Drivers, let me share with you how blog traffic = dollars here on Owen Greaves Consulting.
Those of you who know me, know I’m a big time promoter of other peoples products and services, even must get to know people. I’m not your traditional Internet Marketing Junkie, but I do like to make money, I suspect you do to. A few weeks ago I decided to get my feet wet, yes I purchased some products and services, which means I’m eating my own dog food. I believe in the products and services here on my blog, they have helped me, and they actually made me money in a short period of time! I hope they can help you too.
I would be lying to you if I didn’t tell you I spent many, many hours reading, listening and learning about how to make money with a Blog. The truth is, I have done so for two years, studying, and still I did not participate. Why? There was one thing I needed to do before I took the plunge, that was build some traffic.
I’m a stubborn lot and I don’t buy-in to alot of what I see on the Internet, the reason is, I believe I can figure out what those are doing without me spending money. I know, I hear ya chuckling. I will say this, I have figured out the process on my own, it’s not better, it’s just different. Some of you have purchased good products and services, I’m not bashing them, good for you and I hope they are working for you.
I’m merely here to give you hope and share how I was able to generate a few dollars through the little amount of traffic I have been able to attract. No I’m not financially independant, and no I didn’t make 10’s of thousands of dollars here (yet). This story may not impress you but it did me, what impressed me wasn’t the money, it was seeing the process work. The key of course was the traffic, how I got the traffic is now no big secret, it was however the largest investment of time.
The processes that worked for me are the 3 Core Traffic Drivers, Traffic = Dollars, pure and simple. The key is to have something the traffic wants, visitors come to places they find useful, that provide value and help them solve specific challenges.
Before I get into this, you need to know, everything I share, I use, and I believe in. If you don’t use or belive in the product or service you decide to promote on your Blog, DON’T. Eat your own dog food and only then will you be able to convince anyone else to try your recommendations.
– I started monetizing by trying a couple things, one of them is called Ad.ly, Ad.ly is an in-stream advertising platform that matches top-tier Twitter publishers with top-tier brands. I don’t pretend to be top-tier, but I looked into it anyway. This has done nothing to date, but that may be more about me than their system.
– One of the other products / services I looked into is selling products from Amazon, the commisions are actually very, very low so I’m not all hopped up on the program from that stand point. What I like about Amazon is, the huge variety of products available to you, no matter what your Blog or site is about. I promote books from Amazon, Chris Brogans Book TRUST AGENTS, and Gary Vaynerchuks CRUSH IT! are just a few.
– I sell a couple of books on my blog as well, one of them is called Beyond Blogging, this book sells, why, probably because of the 15 Top Bloggers in the book. They share their story, provide direction and enspire you at the same time, I highly recommend you get this book and then go through the worksheet that comes with it.
Another incredible book is called, 31 days to Build a Better Blog By Darren Rowse of ProBlogger, this book is a step-by-step book, also you should know that for the next few days (until 19 January 2010) Darren is offering 3 extra exclusive New Year Bonuses to all buyers of this downloadable workbook. It’s not the same as Beyond Blogging because it’s a How To book in more detail, this book covers daily tasks in considerable detail. These two books are the largest revenue generator on my blog as of this writing.
– One of the other things I looked at was Google Adsense and Chitika, I chose the later, no real good reason other than it was different and not Google. I have nothing against Google, I wanted to try something different. I use their Chitika Mini-mall on my site, it works in conjunction with Google search. I suggest you go to their site to get a much better description of how they work, rather than me trying to explain it.
– And finally my secret weapon, I have used for years now free stuff, but then I bought a theme for my Blog, which I swore I would never do by the way. This purchase is the best move I have ever made for Blogging, I highly suggest you look at what it does and can do for you. I will say this, my traffic has tripled by merely installing the theme, why, SEO is improved dramatically without any configuration by me. Once I learned the Visual Editor and played with the configuration, traffic got even better. The theme in question is NOT Thesis, it’s Headway. Headway Themes has put something together that flat out gets me fired up, I can modify my site on the fly, and the support is Top Draw. I love this product so much, I decided to join their Affiliate Program and promote / sell the theme here on Owen Greaves Consulting. If you want more information, just click here.
So there ya have it, that’s what I’ve been doing so far, I may drop or add depending on what vistors want / need, that’s business on the Internet. All these things also driver traffic to this blog, the 3 Core Traffic Drivers are the backbone, but these products / services are also driving traffic. As you can see it’s not simple thing, nor is it easy, it’s time consuming and strategic. So remember, nothing happens without Traffic, so build it as quickly as you can, then start monetizing, Blog Traffic = Dollars.
I have been doing far too much reading lately, I mean I’m always reading someones work, how else will I ever learn how things work, and why. I spent two hours pouring over Darren Rowse – 31 Days to Build A Better Blog, my head was so full I had to step away and watch a movie.
After that I poked my nose into another great book by David Risley, Six Figure Blogger BluePrint, getting insight and guidence from David Risley. I have been studying this whole Blogging thing and how to monetize it for a long time now. The hardest part was and is getting focused, figuring out which direction I should be going, what do I know best and is there a need out there.
One thing jumps out at you after reading alot of material on the topic, almost every book or whitepaper seems to have a common denominator. The table of contents in all of these has some version of what you should do first, the best way to describe the first item would be, First Things First.
In almost every case, the very first exercise is to start writing good content. I’m a firm believer in doing just that, but I don’t spend a lot of time fussing over it, write, spellcheck and post is my style. Now depending on the kind of blog or what your going to sell will determine if you should get professional writing help.
There is a blog equation as well, Sound Blogging (Content) + Marketing + Traffic (List) = Money!
That may be over simplifying things but that’s the very lowest you can take Blogging for Money. Don’t get me wrong, this is hard work and there really isn’t a shortcut, you will work, and work hard you will for every reader, page view and dollar your site earns.
There’s only one way to go down this road, you need a healthy attitude, because if you don’t, the journey will be painful. My recommendation is to have a good plan, a healthy attitude and enjoy the journey. More importantly, have a good understanding of the WHY, otherwise you will not see it through. I can’t stress enough the importance of a plan, without it, The Blog Equation won’t be enough.
What do you think?