Just to get it clear, no… I am not referring to this website. I am referring to the question that you most likely ask yourself every single day when you wonder if the website, or one of the websites that you are running is actually worth your investment of time and money. To be honest, I have a ton of these websites in my back pocket, and I am certainly not the poster boy for working on the right task at the right time, however, I am going to talk to you today about something that I think we all need to practice a little more. It is what is going to help you get ideas off the ground, and realise the potential in your websites. Lets start by figuring out how much your website costs…
How Much Does Your Website Cost?
Do you know how much a website costs to create? Consider the costs of your hired assistants, or if you have none, consider the cost of your time. Even add in the cost of the domain, your hosting, and so on. This cost is what you need to break even on, and to be as blunt as possible, if you aren’t focusing on breaking even, well, you’re screwed. Not because you are losing money, but because like the majority of wannabe bloggers and affiliate marketers out there, you will be more inclined to give up without setting a target and spend more on a new project, and repeat the same process over and over again. Its a vicious cycle.
I know this. I spent a year doing this, and I am still recovering from it to this very day.
Here’s A Proposal
So, here is the deal. Every single project that you are starting to design, before you spend even so much as a cent, consider these few things:
- Have you designed a monetization model before the site?
- Is the content what the market needs and craves?
- Is your market ready to spend?
Don’t get me wrong, there are multiple levels that you can take your monetization method to, such as product creation, paid advertising, and so on, however, in order to break even, start small. Test your market. Prove that it has potential, and invest only as much time as you can afford to break even on in order to test the market.
Here begs the question… How can you test your market? Very easily, but you are going to have to wait for next post to find that out… It’s coming soon, and you can subscribe to my feed to get notifications when it is live.
