BLOGGING: A Business MindSet In 2018
The mindset of a successful blogger is similar to that of a manufacturer, or any brick and mortal business. Attitude is everything”, and everything that will call for profit towards your goals is a priority. There is work, there is job, and there is business. Both jobs and business involve work.
It’s all about you working waiting to get paid, you are rarely thinking like the CEO, not creating products or service. The focus is on you. If I work A number of hours per day = B naira paid into my bank account.
You are more value oriented when designing your products and services, you are more tolerant with customers. Your focus is making impact, solving a problem, creating value for people’s money. More value is able to generate more money
There is a need to treat your blog, or website or information business like a business because it is a business. In business you invest more money time and get more profits. In business we leverage on talent, time, treasures, and knowledge economy.
The Business of Blogging.
All businesses are in it for profit, so will have expenses- office space, services, employees will be paid. You the blogger as an employee should get paid. “A part of all I earn is mine to keep’ richest man in Babylon. So your blog, pays you as an expense. Maintaining a proper account is important, excel sheet or a google sheet is okay don’t need too much accounting software yet.
After all, you invested money to buy domain names, hosting space, spent time to build the site, invested in templates, it’s wise to keep record of all this.
For example you make 120,000 naira in profit. It’s important you pay yourself 10% and reinvest 40 percent. After the profit increase still pay yourself 10 percent. This is a business don’t take all the money to your wife and kids
You often hear experts refer to a website or blog as a property, yes it is. You can value it and sell like real estate over time. So what makes a website of great assets?
- Email list
- SEO Ranking
- The domain name and brand.
- Valuable original content (articles, videos, infographics you have created)
- Products and services you created.
So blogging assets are the email list, Facebook group members, Facebook page like, relationship you have with brand followers, blog content and products created over time. And seo rankings. So more assets can make more money. Take 10% reinvest 90% to grow the assets. Bigger asset = more revenue= more take home profits. You will need to try freelance – website design, coding, graphics, coding etc. work for client and small business first, if you want to make money with zero capital at the start, then come invest your money in blogging.