Some of the more successful bloggers live A-list lifestyles. They have tens of thousands of followers on YouTube and everything they do is right up there with the Kardashian sisters. For the rest of us, life isn’t quite so peachy. Sure, it’s possible to make a living from a blog, but it is not as easy as some people think it is. The stark reality is that until you are considered a serious ‘influencer’ and major brands are queuing up at your door there is no such thing as financial stability.
Most people start out blogging for fun. They write about a subject that’s close to their heart – families, fashion, food, or emotionally unavailable men – and gathering an audience is a bonus. It’s only when they start earning an income from their blog that the idea it could become a full-time job begins to take root in the back of their mind.
In the beginning, blogging around a full-time job is great. Your blog is essentially a hobby and you can leave it alone if there are other things going on in your life. However, if your dream is to become a full-time blogger, now is a good time to create some essential financial stability. If you don’t do this, cash flow issues are likely to rear their ugly head real soon.
Diversify Your Income
It’s foolish to expect your blog to be your sole source of income. In fact, it’s suicidal. Even ultra-successful bloggers have different income streams, from promoting brands to public speaking gigs. Look at your blog and consider where you can make some extra money. The more you can diversify your income, the more secure you will be.
spotlight, this can be a lucrative venture.
If you are a prolific blogger, you might be able to draw a collection of your best posts together into an e-book. For example, say you blog about relationships and your blog attracts a huge following of women looking for advice on how to deal with a toxic ex. Many of these women would be happy to buy e-books on the subject, so write e-books on relevant topics and add them to your website. As long as your e-books offer value, you should have no problem selling them. Alternatively, branch out into fiction writing. It worked for Zoella so it could work for you.
Public Speaking Events
There are many opportunities for influential bloggers to share their knowledge at speaking events, conferences, and in the media. Plenty of renowned bloggers talk at public speaking events, so if you’re comfortable in the spotlight, this can be a lucrative venture.
Be Business Savvy
Once you have a number of diverse income streams, it’s time to start running your venture like a bonafide business to avoid cash flow issues. You can’t afford to be half-hearted about collecting payments from customers and brands or negotiating new marketing deals. If you lack business savvy, employ someone who does.
Financial stability is hard to achieve, but it’s absolutely vital if you want to make a full-time living from the blogosphere.
Author: David Jones
David has been working in the online media industry for over 7 years. He writes about technical SEO for bloggers and is also a Python coding enthusiast. He also blogs at Bloggingtips.com and Spyrestudios.com and you can follow him on Twitter @davejonesbkk