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How to build an extra income stream with a small investment.
I always get asked "How can I make money online just like you?" and the answer is always "Work hard, make mistakes and learn how not to make them again. Once you iron out all the mistakes, you start to make money". You can't get discouraged if you fail your first time, we all did! There are the rare occasions when people did it right the first time, but I actually don't know anyone who has. I work online full time, but I have failed more times than I've been successful. I've set up websites that completely flop after I invest 40 hours a week into them, and I've also had successful websites that I work on 1 hour a week.
Now then, here's how to build an extra income stream with a small investment.
Step 1: Picking Your Niche
Picking a niche seems like a no brainer, but it's trickier than you think. If you're new to the online marketing world I would suggest you pick a niche based on something you like a lot. If you like the niche a lot then it will be easier to work on since you're already loaded with knowledge about it and you can hammer out content quicker since you don't have to research anything.
Step 2: Picking Your Domain Name
Price: $1 to $25 (depending on if you have a coupon or not)
Picking your domain name should be easy, right? Wrong! Usually the domain name you want will be taken so you'll have to get tricky with your selection. Make sure your domain is short and sweet so that people can remember it without having to look it up. This will help you with branding because people will easily be able to talk about your website because they remembered your domain name.
Step 3: Hosting
Price: Free to $15 a month
With your hosting you don't have to get too picky. Just make sure that the company is reputable and you get a good uptime guarantee. Most companies will offer a 99% uptime guarantee because they can't guarantee 100% or they would lose a lot of money. You will have downtime due to maintenance, but it's not common. I pay $15 a month for hosting because I have dedicated IP address for all of my hosting accounts as an added protection so I'm not lumped into a group of bad websites spamming the internet.
Step 4: Email Subscribers
Price: Free to $1,000's (depends on you list size)
When it comes to setting up an email subscription service you can't go wrong with mailchimp.com because they give you your first 2,000 subscribers for free. I don't remember how many emails you can send out per month with the free account, but it's worth setting up and testing it out until you get that 2,001st subscriber This email subscription service will come in handy when you want to send out newsletter to your email subscribers notifying them of updates or just saying "Hi".
Step 5: Install Wordpress on your hosting account.
Installing Wordpress is always free and it's extremely easy to do. Most hosting account will have a Wordpress icon on your cpanel dashboard and all you have to do is click it to install. You'll want to install wordpress on your index and not a random file since this is not going to just be your blog on a website, it's going to be your website. This shouldn't take long, and if you mess it up you can always delete Wordpress and try again lol.
Step 6: Get a premium Wordpress theme.
Price: $40 to $75
Getting a premium Wordpress theme will help you stand out from the crowd. It will look like a fully customized website, and that's what people like. No one wants to get to a website and see that it looks like it was one of 1,000 that have the same design. I like to call those types of websites "Cookie Cutter" sites because they all look like they were just basic templates. I would say you could use a free Wordpress template but I've never found one that was a game changer or eye appealing.
Step 7: Social Media Accounts
Set up all your social media accounts so that no one can snipe your name and either spread bad information saying they're you, or try to sell you the social media account for a ridiculous price. Social media is everything nowadays and if you're not in it, you're already behind. Get your accounts up and get to posting!
Step 8: Start writing content
You can always write your own content, and since you know the niche well, you can now write out a bunch pretty quick. I would say that you should get to 100 articles before you even think about telling anyone you have this new website. After you have 100 articles up and live you might even begin to receive some traffic from the search engine gods. Don't write up 100 articles in 1 day, you'll get burnt out really quick. Stretch your article writing across 10 to 20 days so that you always have a fresh head and can write easily.
Step 9: Get help writing!
Price: Free to $10 an article (aim for free)
When you get your initial 100 articles up and live, you can start trying to bring in other writers to help you out. You can either pay people to writer for you and that will usually cost up to $10 per article. The better the writer and the longer the article, the more you will pay. If you're hiring an article writer who has an English degree and can spin words like a novelist, you're going to pay a premium. But the beauty of this is that you don't need to have extremely educated people writing for you, so the price can get low. You don't want morons writing for you, but they don't have to be Einstein with words. Another way you can get some content is to contact people within your niche and offer them writing positions on your website and instead of payment they can drop a link at the end of the article they're posting in order to get an SEO benefit or some direct traffic from your website. Be sure to have all your article links open in a new tab so you don't lose your traffic ;) If you contact around 100 other websites to see if they'd like to write content for you, you might get 10 who would be interested. Don't have extreme requirements because that will push them away. I would say have your requirements set pretty low at 3 to 5 articles per month in order to keep their links on your pages. That amount of work can be done in a single sitting and then they're done for the month. The more they post, the better it is for them because their chances of making a sale increases and be sure to tell them that. Some writers may post 20-50 new articles a month and try to siphon all of your traffic, which is awesome!
Step 10: Install Adsense
The beauty of Adsense is that it's always free because Google wants to get as much traffic to it's advertisers as possible. And offering you a free service that can make you money will always work well for Google since they keep the majority of the CPC and give you a small percentage lol. Be sure to have your adsense above the fold and also have a skyscraper on the side as well as a footer banner so that someone will always see an adsense ad and possibly click through making you some money.
Step 11: Run some Facebook Ads
Price: $1 to Whatever you want to spend
For this you'll want to be super specific on who you target because you're trying to get people in to your website and click on your ads. You may not get a bunch of clicks on your adsense from people you bring in from you facebook PPC campaign, but they could share your posts around their own social networks and that's just as good as a click because they're advertising for you to their friends and family, and this could bring in some clicks.
Step 12: Learn some SEO techniques
You'll definitely need to learn some SEO techniques if you want to make your income stream explode to higher amounts. Making $5 to $10 a day from adsense clicks is great, but make $30 to $50 due to learning SEO techniques and applying them to your website is even better You can learn a lot here in the discussions section, and that's 100% free information that the Gurus would charge you for lol.
Play around with this, make some money and let me know what you think
Thanks for reading!
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