Beginner question for experienced warriors about niche website
This is my first post on this forum I'm currently doing some market research on 2 niches that I'm really interested in to build my first authority website. I never made money with a website on my own before but I'm highly motivated to get one running and monetize it. I think it is great way to build a passive income.
My goal is obviously to monetize this site asap. I'm ready to work hard to achieve this and I currently hesitate between two different ways of building the site:
1-Doing the most things by myself (writing articles, creating the website design, working on SEO, traffic) with a minimal budget for a domain name and web hosting. Once I will get a income from it, I could reinvest everything to get more quality content and traffic until I'm satisfied with the result and the income it generate. It will takes a lot of efforts and time from myself to get it running but the cost will be ridiculously low and this would practically eliminate any financial risk in case of failure (at the exception of the time invested in the project of course).
2-Outsource everything I can (content creation, website design and basic SEO) on platforms like elance and odesk. I guess this way I could get results faster and this will allow me to concentrate my energy on conversion and to get more traffic on the site. This way will required less time but more starting capital.
My question is which one of these 2 options would you recommend to me for starting my first website and why?
Also, in case you recommend option number 2, what would be a reasonable starting budget to outsource most of the things according to you?
1-200-300$ should be enough
2-At least 500$
3-Between 500$ and 1k
4-Over 1k
Thank you guys and I'm looking forward to read all your answers.
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