How Much Money Do You Want To Earn Online
A poll in the WordPress Goldmine Forum this week got me thinking , the poll asked
How much would you be happy earning daily?
Mark Thompson of WP Goldmine ran the same poll a couple of years ago and I am not sure how the answers have differed this time round but the posts from the members have been enlightening.
The forum at WPG is quite unique I think as it has some members who would be considered to be hard hitters , some total newbies, a fair few who seem to be doing ok and one or two underachivers (thats me!). This wide spread of people who are happy to share is unique, in no short measure because Mark does not put up with any snarkiness.
I am not going to share the results that I have seen so far, although I will ask Mark to come along and discuss it with me on Skype and I will share his thoughts on here. I actually think the posts in the thread are very enlightening so maybe he will share some of those as well.
What I want you do to is ask your self the same question
How Much Money Do I Want To Earn Online?
You must put an exact figure on it, not just say “as much as possible” and think why you chose that amount. As I tell my daughter “because” is not an answer. You may say “I want to earn $300 a day so I can be mortgage free in 10 years”
Earning money with no reason to it doesn’t actually make you happy, what is the point in being the richest, loneliest man in the graveyard? Think about not how much money you want to earn online but what you want to do with the money. So not that you want to earn $100k a year, but that you want to earn enough to buy a new house, go on exotic vacations etc.
One point I will share is the one that George from Broon Dog Marketing raised, he said he wants to earn enough to be able to save up for the next Google induced rainy day. I thought that brought up a good point. Every business has road blocks, ours just tend to appear over night so you need to have enough money saved to cover your expenses until you manage to find the new way to earn.
Maybe in another post I will talk to someone about financial diversification, investing some of your IM income in other avenues.
Please share your answer to the question, and any reasons why you came to that figure, in the comments. As well as anything else that you care to share.
hey paul,
Great question. I am a relative newcomer to I.M. and the WPGM forum. My goal is to make 10,000 a month online. Why? Because in my offline job I am a firefighter in the city of Camden,NJ, I have already been laid off once and don’t want to go through that again.
Because of the economic times that we live in, the city and the state believe that firefighters and cops make entirely too much. I believe that trying my best to get this I.M. off the ground and rolling/finding a new source of income is one of the only ways to avoid financial devastation if I am laid off again.
Might it happen again? Maybe. Maybe not. But I’m going to make damn sure that me and my family are protected the next time! Thanx!
Thanks for the comment Ken, Nice looking site.
I tend to remove the comments bubble at the top of the post and the link to semiologic at the bottom (go to skins and you can remove it there) as I know people search for sites made with semio and use that info for niche research.
hey paul
Its definitely important having goals and even more vital to have specific goals such as paying off a mortgage etc
its always been a tricky one to say exactly how much somone would like to make online unless they have a system which is scaleable, thats the main thing which i have learned
i do have my own personal goals which i aim to hit but this year its all about the 2012 challenge and hitting $10k in december and the way im going i will do just that and of course every other income target on the way
i like having monthly goals as i feel having daily or weekly goals is far to unrealistic as you cant always make any massive differences in a day or a week but a month you have long enough to see the results of your work
ive already hit the $200 target for feb so roll on march when its $500
when we start getting to july/august time and the target is up to $4000+ its going to get really interesting
how is your 2012 project doing paul? i saw that you were doing a site, something to do with offline products?
Paul Nicholls
Hi Paul
Wanting to earn and earning are not the same , We can want all we like but unless we are doing something about hitting those targets it doesnt matter.
The Targets Paul is talking about are for a content that is being run in WordPress Goldmine of which we are both members.
I have given it a lot of thought and unless you are doing list building and selling products to people, or selling products and list building from that angle I do not see how anyone will hit $4k a month. I suppose if you have the backup to build enough adsense sites and promote them all then you may be able to do it but for normal people I can’t see it happening.
This is one occasion where I hope I am wrong!
My project is going slow as it was interrupted by preparation for my mum coming over and then her being here. I now have the graphics ready and the modules are laid out. Just need to do the videos and stop adding more and more info in there.
Paul