I started this blog shortly after realizing that working from 9-6 (not 9-5) was not for me. In doing so, I knew I had to generate enough income to satisfy my families expenses, while also having the potential to go beyond that. This is the American Dream, is it not? I started work on the site in early 2017, so there was no income, only expenses including domain, hosting, and necessary maintenance like a theme (which has changed several times).
It took several months, but we are starting to see several revenue streams for MoneyHax, along with side gig as an affiliate marketing consultant settle in. If you start a blog be sure to make it primarily as a side gig first. You’ll find that several blogs are making it big (earning $100K+ a month), but it took them years to get to that level. Here’s the breakdown in January:
- Sponsored Posts ~ 20%
- Affiliate Marketing Revenue ~ 5%
- Affiliate Marketing Consulting ~ 75%
Sponsored posts, or sometimes labeled as Guest Posts are a great source of revenue for MoneyHax. It’s another form of advertising but through content and linking. Once you’ve reached a Domain Authority (respect level on SEO and Google), you’ll have many people reach out to you for guest posts. You can be selective if they can’t pay you. Guest Posts enable a website to link building, which is a key factor in driving more traffic to a website.
Affiliate Marketing, although a strong suit of mine, is still very early in development. One of the more difficult approaches when it comes to monetization because the only way for revenue to be produced is if someone clicks on a link, buys, or in some cases, tries a product through my content pieces. Sponsored posts are a much easier way to form revenue, but affiliate marketing is still one of my main focuses here. Why? Because it’s a great way to build partnerships with brands and services. Blogs that claim most of their income through this source is likely an active advertiser or One to Two affiliate products. Consider this a great piece of info should you start a blog. Focus on your strong suits…focus on your specific brands you can maximize revenue and create great content!
Finally, there’s affiliate marketing consulting, the leading source of income. A passion of mine for several years as I have grown into the industry as a respected professional and already have connections and partnerships that enable me to build. Affiliate Marketing is a niche marketing aspect that few professionals genuinely understand. I plan on growing this aspect through a learning course or ebook over time. How I generate income, is through my consulting gig, I work with the client(s) to maximize their revenue through affiliate marketing. Though I cannot tell whom I work for, it’s always a pleasure growing these companies through my resources.
If you have operated a small business before, you already know how vital expenses are. It’s not a bad thing spending money, including money of expenditures ON your business. By doing so, you’ll decrease your tax burden by utilizing write-offs. Often misunderstood, Write-Offs are mostly ways to reduce revenue so that you won’t be taxed on it.
For example: Taking into account how Hosting Costs Approximately $100 Per Year and we’ve produced $5000 in income, you can tell the IRS by providing your receipt that you’ve made $4900, thus reducing your tax burden
We can expand on this further, but I can say approximately 20% of whatever MoneyHax makes will be put back into the website for not only growth but tax purposes!
The goal is pretty clear. Make enough money through blogging than consulting. We’re not there, not even close. But I continue to follow the trends of other likeminded sites and continue to grind. Also, this page, the income report page, was a strategy to help produce more traffic. It’s making yourself more visible, more vulnerable, but perhaps a newer way to form followers (and friends).
See you next month!