This is the first article in what I hope will be a series of articles on different online business models. In talking with at least a hundred successful online business owners the past few years, it has become apparent that there only a very few basic building blocks of an online business. As with DNA, though, there is an endless array of how those building blocks can be arranged. So while I may not necessarily endorse a particular model, I think it’s really useful to see how others are making money online.
Today’s article comes from Elizabeth Cutten. She helps run FindBizCards.com, a business blog, as well as a resource to find the best small business credit cards. Before I agreed to post this, I checked up on Elizabeth to make sure she had actually implemented this idea and wasn’t just presenting a theory. She was able to back it up.
If you’d like to feature your successful model, just let me know!
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Everyone’s dream is to work at home, make lots of money, and be able to cash in the checks while sipping piña coladas on the beach. While this situation can happen, you’re going to have to understand that it’s going to take time, as well as effort and motivation. If you have a goal, ANYTHING can happen, and I truly mean it.
First, let me tell you a little bit about myself.
About a few years ago, my husband and I came across the AdSense program. How is this, we thought? Draw traffic, get legit clicks and get paid. Yes, while it was really hard that the beginning, I look back now and just thank the lucky stars that I’m still doing it today.
Here’s how I did it:
#1 Screw the man hours you put in – At the beginning, you’re going to put a lot of hours into your work, and get nothing in return. This happens, and what ticks me off is when people say, “Hey! I worked 98 hours and received $1.39″ You have to throw this mindset out the window right now. Count on making pennies your first 6 months!
#2 Content is king – This is a simple formula that I came up with when it came down to AdSense, and it works really well. What you’re going to want to do is find out a content based site that you can create that will easily create at least 5,000 to 10,000 pages of content. For example, you could do a “job description” site. There are easily 5,000 jobs you can write a separate page about.
Now, with this formula, you’re going to get 2 views each day for each page that you write about. So, if you have 10,000 pages of content, you’re going to get 20,000 views each day. Now, let’s say your average eCPM (price per 1,000 views) is $16. You’re going to get paid $320 based on those 20,000 views. (20 x 16).
Now, while my $16 is low balling, you’re going to find that with 25,000 articles, you can make very close to $1,000 a day. Take that 25,000 articles over 5 years, and you have to pan out 416 articles a month. This brings me to my next point…
#3 How to get your content – Now, you’re probably thinking, “How the heck do I write 25,000 articles to get to my $1,000 per day?” I’ve found that I can’t personally write 30-40 articles a day, and this is where outsourcing comes in. Keep in mind that you will have to invest into this business to get a great return. I will let you do further research, but the best place to outsource for writing is the Philippines. I have over 20 writers that work for $225 a month each! Yes, I get around 250 articles per writer per month for that price tag. There are many various ways to find them.
I know, everyone has their own formula out there, and if you don’t like mine, that’s fine. While you will still want to build links to your site for authority reasons, this trick really works well. Not only that, you will find that over time, your numbers will consistently grow. As long as you outsource, the sky is the limit! Good luck!