I was thinking about finances and such one night several years ago. Got to thinking about income and a reachable target income for someone. Fired up the Open Office and opened a spreadsheet. After some playing around with numbers it looked to me like a $50.00 a month net income would be reachable with a pretty standard website given the proper promotion.
Chasing those numbers outward that came to $600.00 a year after all expenses and 167 of those was the magic number to hit over $100,000 a year.
Of course 167 websites would be an immense number of websites to create content for and to keep up with. But WordPress seemed to offer up what I needed to take care of the upkeep.
So then looking at the expenses seemed a real good place to visit next. The expenses were daunting out of the box but a complete reseller account could be had for just over $100.00 a year. That reseller account would give a possible income through it’s own interface website. And as the owner I could buy all the domain names, web hosting and other web services I needed at wholesale. Numbers got better in a big hurry.
I decided the reseller account had to be the first.
I sure didn’t want to spend 8 hours a day looking at the same websites everyday. Would you?
A managed maintenance system combined with WordPress multi-sites (to cut back to one dashboard for many sites) made sense and would help with domain names (by using sub-domains) and hosting fees by packing several sites into one site.
Combine that with some automatic updates, backups and optimization and you’ve cut things down to a reasonable half an hour per site per month. At that point I was on my way to 3 hours a day or less for maintenance. I also had my reseller site running and spawned a maintenance operation (GuidedWP.com if you’re interested) off of my maintenance system.
I could see those possibly bringing in $100,000 a year by themselves but they needed promotion. Promoting on 165 (I already had the two) websites seemed like a good place to start. But where to get the content? The choices seemed to be in Bookmarking and content aggregation.
I built my first dedicated content aggregator. It worked fine for a while then started lagging as the number of ‘feeds’ and articles built up and the traffic started to build. I also started adding more sites requiring content.
At that point I built a multi-site just to ‘accumulate’ content and feed or syndicate that out to the other sites. I also started using CloudFlare and a CDN to spread out the loads. I’m at a point now where my hosting of choice is usually a shared host with a VPS in the background to handle the databases. There’s three of those VPSs now.
What about the $50.00 a month? Each site is evaluated by income and ‘network good’. The sites are (or will be) cross promoting each other. The sites carry ads from various merchants. The sites also suggest content to other sites at times (remember I’m looking at each site once a day. The newest couple posts are bound to catch my eye).
So hows it going so far? It’s starting to work pretty well.
Can you build one for me? Yes, but it’s expensive $600 the first year via my ExecutiveWP.com . I’ll want a 10% stake in your business and you’ll need to form a LLC here in the U.S which means I’ll only build these for Citizens of the US.
All is not lost though. I’m gonna tell how it’s all done in further installments here.
To get yourself started you’ll want to first find a telephone number for your budding company. I used a Google Voice or Chat phone number with a OBIHAI telephone adapter. That phone number is a must. You don’t need to answer it every time it rings but you need it.
You’ll need a business address. If you’re concerned about privacy then you’ll want to hire a Mailboxes type account somewhere.
Start reading up on reselling website hosting and domains… especially how to run, promote and earn with a reseller account. When you’re ready head to WildWestDomains.com and setup your reseller account. Or you can look into other resellers if Wild West doesn’t appeal to you. You may never need to go further than this to hit the income numbers you desire. Give it your best efforts.
If you want to continue, then grab a shared hosting account (from yourself) and a domain name and build your first site. This should probably be a account enabled for multiple domains and hosting multiple sites. You’ll build your first website there and possibly you’ll want to build your accumulator there at the same time.
That’s enough for today but look forward to more info in the next couple weeks. You can always find me on Quora.com if you have questions and to encourage me to hurry it up!
Note: Don’t poorboy yourself on equipment either. By that I mean spend the money to get the best desktop PC you can afford, Highspeed Internet is a must and you’ll want a fast laptop. Something you’ll like and can carry out to the deck on the pretty nights to play around with. This was one of the earlier mistakes I made and I’m still working to rectify that even now.