Always Leverage the Stats of Those Who are Already Successful
One of the best ways to figure out the model that will allow you to go from day job to independent business owner is by looking at the specifics of other people’s models — particularly those who are very successful. By looking at what actually works for them, and other detailed information that they give out, you can determine what’s realistic and what’s not.
Here are a couple of recent examples.
Shoemoney has one of the web’s top blogs on money making and on Sunday he posted a Google Analytics screenshot of one month of his stats. There is a wealth of information there, particularly if you’re in a similar niche.
Then yesterday, Patrick pointed us to a post by Jason Calacanis that showed that some of the most well-known tech blogs on the web only get about 100,000 visitors a month. Now you may think that’s a lot compared to where you are now, but is that an achievable goal for you? And if you did get there, are 100,000 monthly uniques in that segment worth enough to make that a worthwhile goal? I’m not sure; it just seemed interesting to me. I assumed that blogs like that would at least compare (traffic-wise) to blogs like Gawker, but apparently it’s two completely different leagues.
Stats like these take some time to consume as you ponder what they mean for your specific situation, but there are other stats that don’t take much thought at all. For example, guys like Yaro Starak and John Chow regularly post exactly how much they make from their sites each month and break it down by source. (September stats for: Yaro, John) Very often, it’s easy to see in those stats revenue opportunities that you’re missing completely or ways that you could be executing better.
I highly recommend finding a feed reader that you feel comfortable with and subscribing to several of the successful blogs so that you can keep track not only of their advice, but also the cold, hard stats that they publish.