No Investment Needed
Blogging allows you to invest what you have or what you’d like to invest and normally, this isn’t typically money. Most of us don’t have investors queuing up to offer us money to help us with our new ventures and not all of us actually want that. If you’ve ever tried to set up a business before, I am sure you know how it works. Typically, businesses with a potentially larger return on investment require more money to run them. On the other hand, trying to do everything on the cheap could prevent you from increasing your income further down the line, although understandably, it’s a good idea to keep set-up costs low in the early days.
Continuing from point one, setting up a blog is very affordable! I am often asked about the minimum amount of money that you initially need to invest into your blog. Over the years opinions on this have dramatically changed. When blogging first became “a thing”, blogging was cheap or very affordable. As the market became more saturated and peaked around 2014, standards began to increase. People believed that the only way it was possible to get seen and considered a professional blogger, was to invest in expert level photography (and other) equipment in order to produce better content. This meant that the initial recommended investment would have been substantially higher in comparison to now. Sure, an expensive camera will aid you in your photography efforts; the best camera for you personally is the one that you’re able to use. Consequently, this left many failed new bloggers with an unsuccessful blog, a low bank balance, and a hybrid camera to remind them of their blogging experience. Fortunately, times have changed again and the blogosphere is doing a full circle back to the times when we embraced raw content rather than perfectly curated edits. When I first set up my blog I bought my domain and 3 months worth of website hosting and I began earning a full-time income within just 6 weeks! So for less than £50 I set up a profitable business and saw fast and evident return on investment.
Opportunity to Reach Millions of People
I don’t like to focus on numbers. I prefer to focus on results. If you don’t have a decent monetisation strategy in place, you’re unlikely to make any reasonable money from blogging even if you do have thousands of followers. Numbers, traffic, and followers don’t really mean much if you’re not attracting the right people. On the other hand, the opportunity is there to grow your blog and social media platforms to attract millions of people who love what you do. Of course, it does take time and dedication. Not everybody will manage or want to grow their audience to such levels but the possibility is there. There are many bloggers with niche blogs who have small, dedicated audiences and that’s the way they’d prefer to keep things – and that’s fine. Blogging gives you the freedom to reach a million people or to be the one in a million to your own community of fans no matter how big or small.
There are definitely pros and cons for this point. Not everybody likes the fact that blogger invites to VIP events are often prioritised over invites to seasoned professionals in various industries. Like it or not, bloggers are the future of the media world. Offering a diverse and honest view on just about every topic on the planet, even bloggers with micro followings can provide brands with larger ROI in comparison with the traditional mainstream media, such as magazines. Although there are pros and cons for not having any set blueprint or a set route into this industry, blogging offers a lot of freedom.
So there you have it. If you would like more information on monetising your blog and finding out how to turn your blog into a business, check out my course here.