Does anyone have like thousands of small income streams that all add up to a lot per month?

8 years ago

I'm sure everyone is going to have a different opinion on that one, but here's mine.

When I was getting started in IM I took the same approach of having my fingers in "10 different pies" and thinking it was easier to make a "little" bit of money from multiple ventures and having it all add up to my goal, but here's what I quickly learned:

My time is the most valuable commodity I have.

Setting up a little affiliate site, making some videos, etc. are all "easy" but they take time. Would I rather spread 5hrs of my time across 5 different projects, or invest all 5hrs into one project? I soon found that spending my time on one project gave the best returns in the long-term.

I wasn't making money as fast as when I had all my little projects giving me $20-50/wk but by continuously focusing on just one project it's definitely paid off. I now make significantly more in just 1 day with my long-term project then all my other little projects used to generate for me in ONE WEEK.

Find the thing that has the most potential for growth, and focus on that. For me, it was offline consulting.

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TraderScooter

8 years ago

I am totally guilty of having my hands in too many pots. I've got 8 active websites at the moment that I just can't seem to stop working on. Only one of them makes money, and one of the others gets decent traffic (but doesn't make a dime). The rest of my websites are just there doing nothing, but it's hard to turn my back on them due to the fact that I actually enjoy working on them and I'd be sad if I pulled the plug on them forever.

Website 1: less than 10 hits a day (personal hobby site)
Website 2: less than 10 hits a day (personal hobby site)
Website 3: less than 10 hits a day (personal hobby site)
Website 4: 200 hits a day, and growing. Have no clue how to monetize it though.
Website 5: 200 hits a day, and making legitimate money. Not very passionate about the niche however so it's hard to find motivation to work on it. Can't outsource because the content is unique to me.
Website 6: 75 hits a day, making $5/mo in adsense
Website 7: 20 hits a day, have ideas to monetize it if traffic increases.
Website 8: 0 hits a day - brand new site started two weeks ago, but curious to see where it goes (lots of ideas for monetization if it ever takes off).

My biggest problem is my short attention span. My gut tells me to go all in on site 5 (and keep 4 going since I'm seeing growth), and ditch the rest. But it's SO hard to do that. I seriously need someone to slap me silly and tell me to get focused.

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JayKay Dowdall 8 years ago

*slaps you silly* Get focused.

Why don't you put the rest on "pause" and then focus solely on Website #5 for 60 days and see where it goes?
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- TraderScooter 8 years ago
  
  Originally Posted by JayKay Dowdall
  
  *slaps you silly* Get focused.
  
  Why don't you put the rest on "pause" and then focus solely on Website #5 for 60 days and see where it goes?
  
  Haha...thanks for the slap! :-)
  
  After I wrote that post I basically thought the same thing. I'm totally wasting my time working on little sites that aren't going anywhere when I'm already sitting on a moneymaker that could get even better if I put all my time into it.
  
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  JayKay Dowdall 8 years ago
  
  Good! Go work on it and then post the results here in the forum!
  
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  JohnMcCabe 8 years ago
  
  Darren Rowse had a new episode over at his Problogger podcast that applies here. Y'all might want to give it a listen (transcript available for those that prefer reading).
  
  https://problogger.com/podcast/188/ The Pros and Cons of Having More Than One Blog
  
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Bkelly301

8 years ago

200 per day is not much, but it's more then my current project is getting.

My best way of monetization has been through simply creating my own products such as ebooks, or more recently a video course.

Write an ebook and sell it from your site. I have never written an ebook that did no sell at least 1 copy...and I've written 8 so far!

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1 reply

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TraderScooter

8 years ago

Originally Posted by Bkelly301

200 per day is not much, but it's more then my current project is getting.

My best way of monetization has been through simply creating my own products such as ebooks, or more recently a video course.

Write an ebook and sell it from your site. I have never written an ebook that did no sell at least 1 copy...and I've written 8 so far!

Yeah, all the profit comes from a series of products that I create. I've never had luck with ads or affiliate marketing, but selling my own products seems to work best for me.

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faisalmaximus

8 years ago

I have around 120 android apps in different android stores which cumulatively making a handsome amount for me every month.

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TraderScooter 8 years ago

Originally Posted by faisalmaximus

I have around 120 android apps in different android stores which cumulatively making a handsome amount for me every month.

How do you manage all that? Do you have a team of people working for you?
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yukon Banned 8 years ago

Originally Posted by faisalmaximus

I have around 120 android apps in different android stores which cumulatively making a handsome amount for me every month.

120 apps is the same niche (apps).

You're basically repeating the same process each time you create a new app.
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yukon

Banned 8 years ago

OP already has the answer, each thing listed made money. He just doesn't stick around long enough to make more money.

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brettb

8 years ago

It is nice to have several different projects. I tend to write my blog articles in batches for a particular niche, then I just run dry of ideas.

I've also got a few sites that have taken a long time to get successful - sometimes its good to plant some seeds and wait 3-4 years to harvest the results.

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pehlavoon

8 years ago

Here's the truth on my end. I've been working on 5 projects in the last year and here's what I've learned:

WRONG WRONG WRONG WRONG

I've been spreading myself so thin, it's almost impossible to do this without a dedicated team. Most successful entrepreneurs don't have more than 1-2 businesses and even when they do, it's in a related industry.

Here's what I've done:

1. Focus on my 2 most important projects
2. Only spend capital on the 2 projects until I am comfortable to move time/capital when I am ready
3. STOP saying and wasting time on everything under the sun

In your case, I would focus on your 2 most important project and move on when you reach your goal.

Good luck.

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Bkelly301

8 years ago

I'm not trying everything under the sun. I'm just trying to figure out what works. It took me 5 years so far to learn how to learn the basics such as building websites, setting up payment processors, email lists, etc...

My current niche is my guitar lessons niche and also the one that I've been investing all of my time into. I've been working on it for the past year now.

Thanks

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Steve B

8 years ago

Originally Posted by Bkelly301

I have learned

I've written eBooks

I've done reviews

I've created a "course"

I've received donations

I've made YouTube videos

I've never actually made any significant income

BKelly301:

It sounds as though you've tried a lot of things and been busy "doing projects", making websites, adding monetization, etc.

But I've got to ask you . . . How much actual promotion of your books, courses, web sites, and videos have your really done?

It seems to me that you are mostly employing "set it and forget it" projects - build one thing, then the next, then the next.

For a change and a big boost in your income . . . try this. For the next 3 months, don't start any more projects, just focus 100% of your time and energy on marketing what you already have. Get some affiliates working for you, do guest posting, try some list building, paid advertising, and other traditional marketing tactics.

What you should recognize from your efforts so far is this: "Build it and they will come" doesn't work in online business.

The very best to you,

Steve

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Bkelly301

8 years ago

Originally Posted by Steve B

BKelly301:

It sounds as though you've tried a lot of things and been busy "doing projects", making websites, adding monetization, etc.

But I've got to ask you . . . How much actual promotion of your books, courses, web sites, and videos have your really done?

It seems to me that you are mostly employing "set it and forget it" projects - build one thing, then the next, then the next.

For a change and a big boost in your income . . . try this. For the next 3 months, don't start any more projects, just focus 100% of your time and energy on marketing what you already have. Get some affiliates working for you, do guest posting, try some list building, paid advertising, and other traditional marketing tactics.

What you should recognize from your efforts so far is this: "Build it and they will come" doesn't work in online business.

The very best to you,

Steve

For my main project, my guitar lessons site...Currently I have:

- just over 1500 YouTube subscribers (doesn't mean much)

- About 50 people per day going onto my site

- I get huge traffic spikes when I share a good, new post/lesson on Reddit, but that traffic dies back down to around 50 after a few days

- I just started collecting emails about 2 weeks ago, and I have about 15 subscribers on my list

- I have a good bit of content (over 100 free lessons, many that are over 1/2 hour long)

- I have the site monetized with 2 eBooks and a $47 course...and a donation button. The site has only been monetized for about 3 months now (it's been live for 1 year)...last month I made $120 via 2 course sales and a $25 donation.

Does it sound like I'm on the right track?

Thanks
1 reply

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anayb

8 years ago

Originally Posted by Bkelly301

For my main project, my guitar lessons site...Currently I have:

- just over 1500 YouTube subscribers (doesn't mean much)

- About 50 people per day going onto my site

- I get huge traffic spikes when I share a good, new post/lesson on Reddit, but that traffic dies back down to around 50 after a few days

- I just started collecting emails about 2 weeks ago, and I have about 15 subscribers on my list

- I have a good bit of content (over 100 free lessons, many that are over 1/2 hour long)

- I have the site monetized with 2 eBooks and a $47 course...and a donation button. The site has only been monetized for about 3 months now (it's been live for 1 year)...last month I made $120 via 2 course sales and a $25 donation.

Does it sound like I'm on the right track?

You're on the right track, my friend. You got 1500 YouTube subscribers. Now, play the 10x rule. Do whatever it takes to grow your subscribers to 1500x10=15000. Marketing calls for constant efforts. Thus, you can grow your daily traffic to 50x10=500, which is pretty good.

Daily post articles and videos; keep posting. Maybe you should hire some freelancers, if you need support. In this way, you can surely make some difference.

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rozzski999

8 years ago

I do, I own about 60 websites currently, all moneytised via clickbank, affilate links, but mindset is if you have one site trying to make money is hard- ie getting visitors- but having a lot (A minimum of 20) makes it easier- you only need to make a dollar a day from each site to start making money...simple!

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hardworker2013

8 years ago

I suggest you drop the losers and concentrate on those that are making good money. In recent times i have focused only on those projects that are generating substantial amount of money each month.

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Bkelly301

8 years ago

Originally Posted by hardworker2013

I suggest you drop the losers and concentrate on those that are making good money. In recent times i have focused only on those projects that are generating substantial amount of money each month.

That's the thing...

None of them are really "winners".

My guitar lessons website is the one that I've invested the most time into, and it has been the most profitable. However, the $120 that it made last month still is not all that great.

Thanks

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Tsnyder

8 years ago

Originally Posted by Bkelly301

Over the last 5 years or so I have learned one major lesson - everything that I have ever "monetized" has resulted in me getting at least 1 or 2 sales.

I've written eBooks and sold them on amazon, smashwords, and from my own website.

I've done reviews, and posted affiliate links.

I've created a "course" and charged $47 for it...and I sold copies of it (at this point only 2 copies in total, but it's better then none).

I've received donations on my websites.

I've made YouTube videos and posted affiliate links in the description.

All of these things have resulted in me getting paid, but I've never actually made any significant income from any one specific thing.

I have to say that my most recent website project has been my most lucrative endeavor yet. The first month that it was monetized, I made $20. The second month it made $120. This month, which is the 3rd month that it has been monetized, I have made $20 so far.

My question is...

Do you think that it would be a better use of my time to put all of my effort into this current project and try to get it to a point in which I am earning $3000/month (that is my ultimate goal), or should I focus on just "being everywhere" making a few dollars here and there until it adds up to a total of $3000/month?

Either way it would be difficult, and I'm not even 100% sure that I'd be successful either way, but I'll keep trying regardless. Just looking for some opinions from people that have succeeded in reaching the $3000/month goal.

Thanks!

If you try to chase two rabbits simultaneously you won't catch either of them.

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discrat

8 years ago

Thousands ??

Maybe dozens at the most

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AlexFurfaroSEO 8 years ago

Really good thread here. I think everyone in the internet marketing world has at some point chased shiny objects to make money. SEO for small business has been the most work that i have found with reoccuring income. One off products just never worked for me.
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Does anyone have like thousands of small income streams that all add up to a lot per month?

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