Why the money should come LAST

7 replies
(Please, feel free to argue with me,tell me I'm stupid, or otherwise put me on blast! LOL!)

My experience is rather limited, but my experience with niche sites tells me that the money should always come LAST. Here's how I prioritize my steps for building niche sites:

1. Find a good niche (keyword research, surveys, etc.).
2. Put together great free content.
3. Put together a piece of content (an ebook, a course, etc.) you can use to get email signups.
4. Get email signups.
5. Build a great audience (social media, search, etc.)
6. Ask your audience what they want and would pay for.
7. Build it.
8. Sell it.
9. $$$

I see a lot of folks new to IM and niche sites that start off with, "How can I make money with this?" The problem is, you really have no way to know until you have an audience. The value of your audience is in more than their pocketbook - it's in their brains! A good audience will tell you exactly how to take their money, and there's no substitute for audience feedback and input.

The fact is that the "money last" attitude is counter-intuitive. My own husband used to drive me batty; I would tell him about some neat new feature to my site and he'd always ask, "But how is that going to make you money?" The truth is that if the audience is there and you're solving a problem for them, you'll make your money.
#money
  • Profile picture of the author PBScott
    I am not sure if I agree with this, I have worked from the start with a focus on making money, I am pretty sure if I didn't I would have gone broke before I made the living I make now. Some people though, no matter how they approach online marketing, will never see a clear path.

    I have a retail part of the website, totally money focused, and a blog that has very little monetization, this has worked well for me.

    In my opinion: If you don't ask for the sale you will never get it, but you should never stop improving your pitch.
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  • Profile picture of the author msabihj
    Well the money does not necessarily come last.

    Money starts flowing in right after the second step.

    2. Put together great free content.
    If it is a niche site, your content should sell or presell something.

    Your freebie should have affiliate links.

    Your sales funnel can make you serious money if properly monetized.

    You can make money from every single step.

    It is product creation that comes, but that is again not mandatory. There are people who start from a solid product and then move up the ladder.

    If done right, money is everywhere.

    However your model is great.
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  • Profile picture of the author NeedBucksNow
    Hmmm... I would say 2nd or 3rd. I understand the customer should come 1st but the whole point of spending time on it is to make a living right? There are certain costs involved with running a business & I know how good it feels when you start to see that things are working out for you. Making money online is really pretty easy if you know the right ways to do it though
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  • Profile picture of the author bicha129
    Your reading is absolutely right hollyda31.
    The most important factor is audience. To get good audience niche and the quality of contents are most important.
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  • Profile picture of the author iAmNameLess
    It comes down to how you're getting started. It's much easier to make money when you already have it.

    Having money to invest allows you to speed things up and have a return on that investment. If you don't have money to invest, then the investment is with your time, and then the money comes later, and usually part of a much slower process.
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    • Profile picture of the author aire
      Originally Posted by iAmNameLess View Post

      It comes down to how you're getting started. It's much easier to make money when you already have it.

      Having money to invest allows you to speed things up and have a return on that investment. If you don't have money to invest, then the investment is with your time, and then the money comes later, and usually part of a much slower process.
      I agree.

      Another tip for people who don't have money for investment is to get those free wsos.. rehash it.. call yourslf a "guru" and get couple bucks to speed up your actual business.
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    • Profile picture of the author hollyda31
      Originally Posted by iAmNameLess View Post

      It comes down to how you're getting started. It's much easier to make money when you already have it.

      Having money to invest allows you to speed things up and have a return on that investment. If you don't have money to invest, then the investment is with your time, and then the money comes later, and usually part of a much slower process.
      That's very true, and I have noticed that things have moved rather slowly. I also find that doing the "money last" thing means that you can find yourself panicking at the end of the year if your site renewal comes due and you haven't made your money yet! :O

      For me, the "money last" thing has worked well, but that's also because I'm still pretty new to IM. Putting the audience first and finding out exactly what they want has helped me a lot, because I wouldn't have had any other way to know what to build if they hadn't told me.
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