Well, I am making an expense commitment in an attempt to grow my blogging revenue so I will be needing some additional advertising deals over the next month before I run out of funds. Now I won’t really be running out of money, but I have made it my goal to not put any of my own funds into my online ventures. Up until now, I have been able to do this.
I started by writing for sites such as eHow and HubPages which didn’t cost a thing but would provide some revenue. Once I built up some funds and confidence, I made the leap to WordPress and creating my own blogs figuring that the domain and hosting costs could easily be covered by what I was making already.
A Pleasant Surprise
Well about 6 months after starting Cash Flow Mantra, I figured out that many personal finance bloggers were able to make money through private advertising and was able to take advantage of this opportunity. I was able to pay down a little bit of debt and began to look into expanding my online activities.
I subsequently started this blog as well as Penny Thots and have been able to make some money to cover my costs plus add some profit. Once I would get a decent amount in my PayPal account, I would use it to make an extra payment on my business credit card. Now, I hope that I am not biting off more than I can chew.
Pushing the Envelope
After making a 50% down payment on some website design (which will save me a ton of time and allow me to spend my limited time writing), I only have enough to pay for the rest of the project plus an additional $50 left in my PayPal account. That isn’t enough to pay for the authors that I have hired for this site in December plus pay for the design of the new blog. Now, I will only need another $30 for this site and about $70 for Penny Thots payments between now and the end of the year, but I feel like I am cutting it close.
Realistically, though, I have made some decent profits over the last 2 years so I am not really tapping into my own funds at all. But I have never added anything to the PayPal account and have simply been paying as I go along. I guess I am taking a slight chance and assuming that I will make something before the end of the year that will pay for these expenses to which I am already committed.
I guess we will just have to see how it goes and trust that this is a good way to grow. Wish me luck!