Blog Tips to Become a Millionaire Blogger

In the article Millionaire Bloggers we talked about a few superstar bloggers that have been able to achieve millionaire status with their blogs.  Very few bloggers are able to achieve the level of income that these pro bloggers have achieved.  There are over 50 million blogs out there and probably less than 500 have achieved that level of income – that is less than 0.001% of all bloggers!

Can the rest of us become millionaires blogging?  The answer is yes!  Given enough time, it is not only possible, it is likely that most young people can accumulate $1,000,000 with less than $100 initial investment.  We will show you how in this article.

The reason this only works for young people is because we will be utilizing the power of compounding over a long period of time in order to accumulate one million dollars.  Most bloggers are young, so this is not too stringent of a restriction.  If you are in your 20’s, or even early 30’s you have one of the most important factors that contribute to your chances of accumulating one million dollars: time.

If you are looking for a get-rich quick scheme, this article is not for you.  Accumulating one million dollars is a long-term process.  However, we will show you how the average young person can accumulate one million dollars blogging.  All that is required is some basic knowledge which we will share with you, some discipline, and time.

Getting Started

The first thing you need to do is start a blog.  If you have already done this, then skip this section.  Otherwise here are some suggestions for getting started:

The easiest way to start a blog is to use a free blog hosting platform such as blogger or wordpress.com.  These are easy to setup, cost nothing, and you can get started within minutes.  However, with these platforms you are limited to the functionality that they offer, and you have less flexibility with your blog.

The most recommended way to start a blog is to buy you own domain name and use free blogging software such as WordPress to set up your blog.  This may require some research on your part and a bit of technical knowledge, but it will give you the most flexibility.  It will also require an initial investment of about $10 for the domain name plus $10-15 a month for the hosting fees (you should be able to recoup this monthly fee with the income from your blog within a few months). 

The Goal

You goal should be to make a net income of $300 a month from your blog.  Why $300 a month?  First, because this is an amount that most people should be able to achieve after one year of blogging.  Yes, some people are able to make a lot more than $300 a month, but for most people this will be a challenging, yet achievable goal.  Second, because as we will share with you in a later post, $300 per month is a key number for generating one million dollars.

Assuming you will have about $20 a month in expenses, ($10-15 in hosting fees, plus other miscellaneous expenses) you need to generate $320 a month in order to net $300 income.

How to Make Money

It will take about one year to get your blog to the required level of income.  We will not count on any money made in the first year, but you should be able to make money right from the beginning, at least to cover your expenses.  You may also want to consider not monetizing the blog at all in the first 6 months.  Some pro-bloggers recommend this approach.

After one year, here is where the money should be coming from:

Google Adsense: Most people are familiar with Google Adsense contextual advertising.  This should account for about half of your revenues or about $160 per month.

Kontera:  Kontera provides in-text advertising in your blog posts and should generate about $40 per month.

Direct ads:  These are ads you will sell directly to sponsors.  They could be banners or text links, and should generate about $50 per month.

Other: These are other miscellaneous sources on income, including ad networks such as Direct Media Exchange, Text Link Ads, affiliate sales, etc. These combined miscellaneous sources of income should generate about $70 per month.

With these sources of revenue you should be able to generate a total of $320 per month.  You may be able to make even more than $320 per month.  You may also have a different mix of revenue streams from the example above.  But this is what the average person should expect.  The estimated amounts above are based on the experience with this blog and on what we feel is a realistic revenue stream for most people.

Work Required

Once you have your blog setup, you will need to write 2 to 3 articles per week on a consistent basis on a topic you are passionate about and have some knowledge of.  As any pro-blogger will tell you, in order to be successful you need good content.  In order to write good content you have to be passionate about it.

You will also need to promote your site in order to attract visitors.  There are many ways to promote you blog.  Providing details on how to promote your blog requires a separate article, but here are some examples:  Submit your articles to blog carnivals; comment on other blogs; develop relationships in the blogosphere.

This will require about 5-10 hours per week of your time.  Besides writing the articles, a good portion of your time will be spent doing research and promoting your site.

Now here is where the commitment to reach one million dollars comes in.  You need about one year to ramp up the blog to the $300 per month income level.  Then you need to commit to blogging for another 10 years.  Why ten years?  Ten years and $300 per month are the two key ingredients for generating one million dollars as will be explained in the next article called One Million Dollar Generators.

Investment

The key to accumulating the magic one million dollars is through investments.  You should invest all the money made from the blog at the end of every year.  At $300 per month, you should have $3,600 to invest every year.  Invest all your money in a well-diversified stock index fund.  Historically stocks have yielded an average of 10% per year and you should be able to achieve this rate of return in the long term.

Never touch the money in this investment account.  Do not sell any shares and do not change funds.  Just let the money accumulate in the account.

Assuming that you will not make any money in the ramp up year (a very conservative assumption), you will accumulate a total of $57,374 from your blogging investment in the following ten years ($3,600 per year invested at 10% return for 10 years).

Ten years after the ramp up year stop blogging.  Why?  First, ten years is a very long time, and it is very difficult to commit beyond that.  We also don’t know what will happen to blogging after ten years.  But most important, at that point you can just let the power of compounding do all the work for you.  As will be explained in the next article, any work that you do beyond the first 10 years will not have as much of an impact towards the one million dollar goal as the first 10 years.

Now here is the where you will leverage the power of compounding to achieve your goal.  Let the $57,374 that you accumulated sit in the investment account for another 30 years at a 10% rate of return and you will end up with $1,001,142 !  You are now a millionaire!

Forty one years is a very long time but if you are in your 20’s, this money will be there for you to enjoy in your retirement years.  Just one word of caution before we finish: the end result does not take into account any inflation.  Inflation eats away your buying power, so one million dollars forty one years from now will not be the same as one million dollars today.  In fact, if you were to assume 3% inflation per year, the total accumulated in today’s equivalent dollars would be $412,457.  This is still a pretty significant amount of money.  But what if you want to become a millionaire in today’s equivalent dollars?  Then you need to find other One Million Dollar Generators as will be explained in the next post.

Original Article by: http://ww-success.com