I’ve spent a lot of time lately thinking about what my goals are.
Not just for my websites, but also for my life.
I was unable to figure out my ultimate goal for my life yet, but I think I still have some time to figure that out.
However while writing my latest email for my Monday’s Moneyz newsletter I realized something- I never set the right goal for my websites or online income.
What do I mean by that?
All of my goals have been purely money-oriented and they didn’t “pull” me. (More on this later)
I said “okay, I want to make this much money by this point,” but I never figured out why I wanted to make that amount.
I said “let’s create and publish this blog post. It’s bound to get more visitors, backlinks, and other great stuff to my site,” but I never thought about why I want more visitors.
Do you see my problem?
Quick note: I started out thinking that this would be a short post, but it ended up being nearly 2,000 words. If you want to read the quick summary quick on the TL;DR section on the right.
Table of Contents
Setting the Goal
Yesterday I was watching a YouTube video and Tony Robbins said, “There’s two types of motivation. Push and pull. If you’re trying to push yourself… there’ll be days where you do it and days where you don’t. If it’s pull- there’s something out there you want so much- pull is a hundred times more powerful than push. Push wears out, pull does not.”
He also says that pull-motivation should be something that resonates with you on a spiritual, emotional, or other personal level.
One thing that I absolutely hate is debt.
This is why I’m setting a new goal for all of my online businesses.
My goal is to pay for all of my college expenses for the next 4 years using my online income.
This is a goal that will pull me both in the short and long-term and it’s a good way to “brand my blog.”
Instead of simply being that one teenager internet marketer, I can be the guy who’s trying to pay for college with online businesses.
Doesn’t that sound so much better? 😉
Breaking Down the Goal
Education in America is expensive.
It costs $27,000 per year to go to the college I’m going to, and it’s cheaper for me because I live in the same state as the college.
I also get $14,000 in scholarships for my first year which means for this year I’ll need to come up with about $13,000.
This means that I need to come up with $7,500 by September to pay for the first semester, and $7,500 by January to pay for the second semester.
To pull that off my monthly profit needs to be at $2,500 for the next 3 months and $1,875 for the 4 months after that, but that’s if I only put money towards this goal and don’t save money for the taxman.
If you consider the tax man and other expenses (like reinvesting money to make money), that number ends up being much higher.
To take home $2,800 per month ($2,500 for college payments and $300 to invest in my businesses) I’ll need to make $4,250 in profit every month.
That’s more than double my best month so far!
To take home $2,175 I need to have a profit of $3,300 per month, which is more than $1,000 away from my best month.
This means that I got some work to do.
$2,500 is pretty high considering that my best month profit wise was just under $2,000, but $4,250 sounds like a crazy high number to me.
Now that I’ve established that my first year goal is pretty bonkers let’s look at what I need to do for my second year.
If I make $13,000 this year, I won’t get any financial aid the year after so I’ll need to pay for the whole $27,000 myself.
I’ll have almost a whole year to get the money so I’ll need to make $2,250 per month to have $27k by January.
$2,250 per month gets me to $18k by September, and then I will have 4 more months to make $9k.
To take home $2,550 per month I’ll have to make about $3,900 in profit.
This doesn’t seem too bad considering when compared to the $4,250 for the first year, but it’s still a pretty big goal.
How do I Reach my Goal?
If you’ve read my income reports then you know that most of my income comes from Amazon affiliate and Content Samurai affiliate.
My Content Samurai income is steadily increasing, but there’s nothing I can do there to make it get even higher.
This is probably one of the best long-term ways of increasing my income, but the only problem is that I’m paid on a net-60 basis.
This means that even if I write 100 articles this June and outsource 100 more articles, I won’t see the money until August.
However since it takes time to rank the webpages in Google and that’s my main source of traffic I probably wouldn’t see an increase in income for 3-6 months.
This means that while this is a great option for the 6 months-4 years timeframe, it’s not a viable option for this September.
I’ve wanted to create an online course for a while.
I even created a complete plan for a reddit advertising course, but now I’m not sure if I should go through with it.
Sure, I had some success with reddit, but I feel like I need to spend tens of thousands of dollars on the platform before I can actually create a course.
On the other hand the information that I’ve learned so far could be useful to people who are just starting out so a course priced at $20-$50 is reasonable.
I could have the course done by the end of June and that could start bringing in some money by August, but once again it won’t be much.
An Amazon affiliate keyword research/website creation course could be interesting, and it might even be quite profitable if I put it up on JVzoo and got some big affiliates to promote it, but then again, how effective would that be?
I’m not sure.
I could also experiment with Webinars to promote other affiliate products or sell my courses.
This could be effective in the short run if I can get leads fairly cheaply, but this would be completely new to me so it would take me at least a month to get going.
Small Affiliate Sites
My Content Samurai site is a pretty small site with quality content.
The competition is fairly low for that site, but I don’t see why I can’t do this for other big launches.
The site took a couple months to get out of the Google Sandbox though so it might not be the best short-term strategy either.
This could definitely work as a long-term strategy especially with a high-quality recurring revenue program.
If it was just one time sales I’d only get about $150 per month, but since it’s recurring revenue this adds up quick.
So basically all I need is a fairly low competition, high quality, recurring revenue product that I can become an affiliate for and promote.
YouTube Affiliate Videos
This is the same idea as above, but instead with YouTube videos.
I have experience with Shopify so I could create a guide about setting up your first Shopify store and put an affiliate link in there.
I know how to rank YouTube videos so I could get in the top 10 fairly easily for most medium competition keywords.
The only issue here is that I don’t know what percentage of people would actually use my affiliate link and buy.
However there’s a lot of stuff I could promote like hosting, other eCommerce platforms, email providers, etc…
As I write this, it seems like a pretty good short term option.
I could pump out a video every 2 days or so if I spend 5-10 hours learning the platform and then teaching others what I learned.
I have a fairly successful YouTube gaming channel at about 1,500 subscribers, but AdSense money from gaming channels is puny.
Even if I post 3 videos per day and do some SEO voodoo, I still won’t make much.
A Patreon page could be more effective, but there’s no way this would break $500 per month.
I love gaming, but this might have to be put on hold or cancelled.
That’s a shame because I just got a new laptop that runs games like a beast. 🙂
After reading Josh’s post I started considering this strategy.
I’ve played around with this idea before and I’ve talked a lot to an experienced Flippa investor on Skype, but I never pulled the trigger.
My issue with Flippa is that there’s so much crap on there that you have to go through before finding the right buy.
This also won’t result in enough income within 3 months.
I could buy 1 site per month at around $1,000-$2,000.
If I get a great deal the site would be making around $100-$200 per month. (I think I could find a site like this once a month)
If I could make enough improvements to each site to increase the income by 50%, after a year I would have an income of $1,800-$3,600.
A website with guides for Clash Royale, Clash of Clans, and other new and popular games could bring in a solid stream of cash.
The most popular Clash Royale site gets around 3 million visitors per month with very high CPCs.
Here’s the traffic data and CPC:
It would take a couple months of article writing, video creation, and focus, but this could be very profitable.
The content for gaming sites is also relatively cheap, and eventually I could try to expand into other, non-mobile games.
The Final Decision
After thinking about it, here’s what I’m going to do:
- Update the information for BAB: my highest earning Amazon affiliate site. I have to update it every year, so I will take 3-4 days to prepare it for 2016/2017 and then ignore it for a year.
- Merge Snooads, JVReviews, and OnlineMoneyz.- My domains are expiring so I want to do a quick merge of the content and make this my main site.
- Start focusing on the gaming site. Spend 80% of my time on the gaming guides site, 10% on this site, and 10% on smaller affiliate sites. Spend at least 3 months on this.
I think 3 months should be more than enough to establish myself as an authority on the topic, get some traffic, backlinks, and money.
While at the beginning the gaming site won’t be making any money, it has a very high potential so I’m betting everything on it. 🙂
If it doesn’t reach the level of success I hope for within 3 months, I’m sure I could find someone in college who’d be interested in helping me out with it.
Here’s a quick summary of the post:
I never had a goal that I felt strongly about so I never finished my smaller goals.
Now I’m working towards paying for college and avoiding debt through making money online.
I had many ideas, but I decided to quickly update one of my Amazon affiliate sites, merge this site with 2 others, and then focus on a big, gaming-guide website for at least 3 months.
If you guys have any tips, suggestions, or anything else, feel free to comment below!