Blogging In An Economic Downturn
It doesn’t take very long to be reminded about the challenges our economy faces.
We’ve all heard the stories, and we’re all most likely feeling the realties of this current recession in one way or another. As I was thinking this week about the state of our economy, my mind immediately shifted to the internet (it usually does) and how this could affect those looking to make money blogging.
Since no one needs more reminders of the challenges this economy faces, I’d like to start off my first post by sharing why I think this is the BEST time to be blogging followed by a few things to consider.
It’s All About Timing: In the two most recent recessions (1990-91 and 2001), business starts had been falling until the year the recession began – but then took off again the following year. Paul Kedrosky from the Kauffman Foundation summed it up very well when he said:
Companies that are created in a bad economic period are more disposed to succeed. These entrepreneurs are the few, the proud, and the crazy. They tend to be highly motivated and can work on a shoestring budget.
There is no better time than the present to start that blog or web business. Do you already have one? Focus your efforts to grow it bigger. This is one of the few businesses with relatively no downside and almost limitless potential.
Let’s face it, we’re not talking about spending $250K to open a Subway. What business can you start for less then a $100 that has so much potential? There’s not many. Actually, there’s not ANY that come to mind.
The internet affords you the opportunity to build a viable, revenue generating business for next to nothing. It doesn’t matter if it’s a blog or a full blown e-commerce website. No longer is it a question of the big vs. small but rather the fast vs. slow.
If You Want To Make Money, Start A Business Not A Hobby: Is the reason you’re starting a blog because you have this burning passion to talk about (fill in the blank), or is it because you want to make money? If it’s the latter, then your focus should be on what people want to know, not what you care to share.
So many people make the mistake of trying to force feed their interests and passions to others when that’s really the exact opposite of what you should be doing.
When you walk into McDonalds, they don’t tell you want you want, they ask you. Think of blogging the same way. Find out what people are looking for, and simply answer their questions. Don’t treat your blogging business as your personal preferences, opinions, and ideals (unless that’s the point of the blog), focus instead on common questions people have. For those looking to start a blog, here are some common questions people ask:
- How can I lose weight fast?
- What are different parenting techniques?
- Where is the best place to find cheap airfare?
- How can I make money online? (BloggingExperiment.com)
The point is this. (1) Have a clear focus to your site. Don’t try to be all things to all people. That’s the very nature of why blogs are so popular. People can find other people who have very specific skills or knowledge about a topic that they wish to acquire. (2) Treat it like a business. If your looking to make money from your web business (blog, e-commerce site, etc) treat it like a business. Set measurable goals and objectives, have someone else hold you accountable, and know your end goals before you begin. (3) Don’t let the gloom and doom keep you down. There is no time like the present.
On a personal note, I realize we haven’t been “properly introduced,” yet so in the next couple of days I’ll be posting a bio so you can know a little more about me. In the mean time, I just wanted to share this one little thought as it’s been on my mind for the past few days.