It took 12 months, but I earned $5000…

By | August 23, 2007

I was checking my personal finances this past evening when I noticed that my total income since last August 26th had reached $5,000! While some people make more than that in one month, I was pleased because that amount was despite quite a difficult year in my business, and despite the time constraints placed on my involvement in this blogging endeavor.

Ok, how does the amount breakdown. Well, my blog generated a total of $2,501 through links, posts, and other deals that were offered; my stocks brought in about $1,031 again during a difficult year; hosting brought in approximately $530 from clients; my bank account generated about $187 in interest payments (in a low interest environment averaging 2%); and my business generated several sources of income – interest on an outstanding loan, and profits for last year, which totaled $751.

Overall, this income was generated from five different sources, though I’m well away from my goal of earning $1500 (approx. 27% of my target!), and increasing the number of sources of income (only 50% of the total!). It’s a tremendous achievement in its own way, but as things stand, there are a considerable number of avenues to explore.

Though I have done this much, I wonder what is ahead. Where can I go from here? Options that I am exploring are:

  • Linkworth’s system of advertising for the blog, as a supplement or even replacement for my other text link sales;
  • I no longer use Blogitive, Blogvertiser or Smorty. I’ve considered giving up on Payperpost and on Sponsored Reviews, too. Mostly because payments are low, and getting lower, while opps are getting much more demanding. It’s not that I’m afraid to do demanding opps. It’s just I’d rather write a great post for myself than for $5. So I’m considering going solo soon, but we’ll see;
  • I’m also looking at expanding my blogs and creating a mini-network. It will require much more time and effort to maintain these, but there is good potential for extra income;
  • and I’m looking at offline opportunities, too, after being considerably inspired by GeniusTypes’ blog and success with candy machines.

There are always going to be opportunities out there for observant and wily entrepreneurial types to make some additional or even residual income; the challenge is finding the opportunities. Often the opportunities are hardly labeled as such. Often on the Internet, you’ll come across great and wonderful websites promising you the earth and the heavens, too, if you buy their system. Too often it’s pie in the sky. Great opportunities are more likely covered in crap: the English have a saying “Where there’s muck (dirt), there’s brass.”

Perhaps this blogging adventure has been as much about increasing my own awareness of being ‘entrepreneurial’ as it was about creating/finding entrepreneurial opportunities. Some of the money I made this year was from seeds planted much longer ago than last August. Let’s see what I can plant or harvest in the second year of blogging.

Author: InvestorBlogger

Investorblogger.com takes you on a 'Random Walk To Wealth' through money, investing, blogging and tech. We'll explore my insights, mistakes, and experiences together.