June 29, 2013, 11:30 pm

Weekend Epicness

by: MD    Category: Financial Rambling

Happy Canada Day weekend! I hope you guys are having a great one. Allow me to interrupt with some quick links to check out on your smart phone while you try to get away from family.

The hits:

Month 9 Income Report – 44% Email Opt In Conversion Rate and over 2k in earnings! @ Authority Website Income

I know that Mike already mentioned Jon this week, but I wanted to give a direct link to one of his recent pieces on the topic.

The Phone Call @ Budgets Are Sexy

Sad that the post had to be written, but it’s another eye-opener to enjoy the moment.

The carnivals:

 Carnival of Personal Finance #419.

Aspiring Blogger Carnival #9.

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June 27, 2013, 6:00 am

Why Would You Pay Over $3 For a Cup of Coffee?

by: MD    Category: More Financial articles

Why would you pay over $3 for a cup of coffee?

That’s what a buddy once asked me. He proceeded to tell me what a rip off this is and how I already have a coffee maker/Tassimo machine.

The reality is that I do my best writing at coffee shops. I just can’t get into the zone in my room. There’s no sense of urgency and I get easily distracted by everything. So I hit up a coffee shop, grab some coffee, and start writing like an animal. When I’m complete or just tired, I go home.

I know. I get it. Coffee at a coffee shop is a rip off. It’s not cheap and it’s over-priced.

$3 is too much for a cup of coffee. We can all agree on that generally speaking.

So why the hell do I spend this much money on coffee?

Sometimes in life you have to move past the tactical stuff and the boring details to think about deeper stuff. You can’t always just worry about the same minor details.

I do my best to study top-performers and successful friends. I want to see what they do differently.

They usually have one thing in common. They don’t stress over the excruciating minutia. They focus on the next big issue and something higher to tackle. They solve major problems consistently.

One of my friends wasn’t happy with his job. While everyone else at the job complained about the management and bashed each other, creating a toxic environment, he did something different. He took evening courses and earned his degree in a field that guaranteed him work. He found a new job eventually and left his old place of work. He knew that complaining about the same crap would get him absolutely nowhere. Now he makes more money than ever before.

Do you stress about the minor stuff?

We all stress about such minor stuff and it’s never worth it. I get stuck in this trap sometimes. I worry about responding to comments and emails and I forget to tackle higher issues.

Why do we stress about the minor stuff? Because it’s safe and easy.

After I finished reading The 4-Hour Workweek, I posted the following note on my desk:

Are you inventing things to do to avoid doing the important?

Whenever I’m aimlessly surfing the web, I look at this and get myself back into gear.

Are you thinking big enough?

I’m certainly not. I’m not strategic enough at all. I know this. I respond to useless emails and spend hours doing nothing. We’ve already covered this angle.

Today, I just wanted to throw out some random thoughts on strategy and higher-level thinking:

  1. We have to think past today. Spending a few bucks today for a lunch with a successful person might cost you some money. You never know what doors it will open up in the future for you.
  2. Will this matter in a week? That’s what I ask myself now. We can laugh off most of our problems and embarrassments by asking if they will even matter in a week from now. They usually don’t matter in a few minutes.

Back to the friend bashing my idea to go to the coffee shop to drink coffee and use my laptop. He usually just sits around and does nothing. He goes on Facebook and it takes him forever to respond to a basic email. Maybe, hitting up the coffee shop isn’t such a bad idea to get some work done.

Sometimes you have to create systems for yourself.

I’ve come to realize that will-power will only take you so far. You have to create some systems and barriers for yourself to improve your behavior.

For example, if you don’t want to eat junk food, then don’t have any around the house. It’s hard to eat a bag of chips in the middle of the night when you don’t have one.

When I want to get work done, I hit up a coffee shop, drink expensive coffee and get work done. It also doesn’t hurt seeing some attractive young ladies.

When it comes to the gym, I pay extra for my membership because it gives me access to certain classes. I know that I can’t miss a class because someone will text me and make fun of me. And I’m the king of peer pressure, so I certainly don’t want to be called out for missing a class.

So what do you guys think: is it worth spending $3 on a cup of coffee? Are you a strategic thinker?

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June 26, 2013, 5:02 am

Niche Site Building – Going the Jon Haver Way

by: The Financial Blogger    Category: Niche Website



This is the second post about my future niche site where Ill be part of Pats Niche Site Duel 2.0.You can read why Im participating here.


A month ago, I didn’t have any idea of what I would do in order to participate in the Niche Site Duel 2.0 hosted by Pat from Smart Passive Income. I’ve been struggling in getting consistent work done towards any of my niche sites I’ve developed so far. The results I’ve seen so far make me think that there is a huge potential (after all, I’m making $500/month with my niche site with absolutely no work), but I haven’t worked hard enough to ensure sustainable traffic on any of them. This is why I’m always stuck around $500 while I can grow my business significantly through this model.


I’ve spent the last month working on my business plan to develop my next niche site. This time, I want to think about everything. I selected a bunch of different keywords to rank for and established a 50 post outline linked to these keywords prior to writing anything. The idea is to build the site on paper before it is built online. But this time, I went a little bit further: I’ve developed my monetization strategy upfront as well. Hint: Im not going the Pat way, but the Jon Haver way.


Who is Jon Haver?


Six month ago, I barely knew who this guy was. I knew he had a few sites here and there but it wasn’t clear to me who he really was. He appears to be one of members of the Mastermind Group I attend each Monday night. This is how I got in touch with him and learned about his genius!


You might know him from his flagship blog: Authority Website Income. On this blog, he details his route through building his online empire through authority website building. At this point, there is nothing much original about him, right? I mean, so many people are doing this on the web I’m pretty sure you are simply thinking “oh well, another web marketing guy trying to sell his shit…”. It is true he is using similar affiliate conversion tactics such as showing how he succeeds with this or that software and how he uses it. But in the end, I think it is the right way to do it since you can prove to your audience that it works. However, if you spend a little time on his blog, you will find that, like Pat, he is pretty open about his strategy and how he does his things.


The goal of this website was to highlight the success (and failures) of his first authority website; Pay My Student Loans. His goal was to beat Pat’s site income (Security Guard Training HQ) for three months in a row. He started his site about 6 months ago while Pat site has been around for two years now. After only six months, he is now breathing down Pat’s neck being short by only $300 over the last month. Its true; he made over $2,000 with his authority website 6 months after its creation.


What Makes Jon’s Strategy Different?


He has a similar approach for link building and getting traffic, so I won’t detail this here (you will have to read his blog to learn about it!). But what he does differently is that he completely discarded Adsense from his monetization model. He made over $2,000 last month with $0 coming from Google. How brilliant!


The problem with Google Adsense is that you can make money the very first day your site is up. All you need is a single click in your day and you make a few cents! Psychologically, this is very motivating: you earn money on Day #1! But the problem is that A) you lose your reader to another site and B) the money you get for losing your reader is meaningless.


I’ve always been motivated by building a site generating $5 or $10 per day from Adsense. I thought it would be an amazing model to rapidly and easily earn $10 per day per site. The problem with Adsense is that you rapidly stagnate in terms of income. If your traffic goes up by 10%, your Adsense income will follow. However, if you were making $300 per month, you will only make $330 with your traffic increase. Since at one point, chances are you will reach a plateau, it’s almost impossible to earn more money with your site.


Jon has decided to focus on affiliate offers. Therefore, he made the decision to make $0 for several days, but making $30, $40, $50 per sale. At one point, with decent traffic, instead of looking at 20 – 40 clicks to make $10 per day with Adsense, he is able to make $50 per day through 1 affiliate conversion. If you would get 20 to 40 clicks per day on Adsense, you can probably expect to get 20 to 40 clicks on your affiliate offer instead. Then, it’s up to the company to convert at least 1 of those clicks so you can make money.


When your traffic goes up, the amount you make per visitor is much higher and you will rapidly make over $1,000. Then, you can build a newsletter for your readers and try to pitch your affiliate program through your list as well. The advantage is that instead of losing your reader to a cheap ad, you get them to sign up for your newsletter and keep this reader for a longer period. You can provide them with value in your newsletter and give you a try through your affiliate program once in a while.


The whole site is being built with two things in mind:


#1 Get your visitors to subscribe to your newsletter




#2 Get your visitors to click on an affiliate link


Chances are that most visitors will take action within your two goals. If you add banners and Adsense blocks and other distractions, you dilute your goals and monetization strategy. Plus, your site looks like a Nascar. This is definitely not the way to go!


What’s The Plan for My Site?


I’ll be following Jon’s strategy and will build my entire site around my newsletter and an affiliate offer. I know my topic very well and know that affiliate offers in that niche are quite profitable. Therefore, I will not need many conversions to make money out of it.


I wrote about ten articles out of my 50 so far and will continue to explode my writing during the month of July. At the same time, I’ll be applying for a few affiliate programs to try them out and see which ones convert best. I’m also doing a small ebook to give away free to my newsletter subscribers. Subscriptions always work better with a freebie.


Readers, hows your niche site progress? Have you started yet?

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June 24, 2013, 5:00 am

Can You Generate an Additional $500 Per Month… Every Month?

by: The Financial Blogger    Category: Business,Make Money Online



Today I’d like to introduce you to a new concept of mine. This is something I’ve been working on recently: Snowballing Income.

 make money online

I guess you are already aware of the snowballing concept to pay off your debts. You start with a small amount; let’s say $100/month, to add as a principal payment to pay off one debt. Once this debt is paid off, you use your $100/month to pay another debt but you also add the amount of the previous payment. If the payment on the previous debt was $100, you are now with $200/month to pay the next debt. If you do this on all debts you have, you finish the last one with a huge principal payment each month. This is a snowball effect.


Generating More Income Every Month


Instead of using the snowballing concept to pay off debts, imagine using it to generate additional income? Imagine you are making an additional $100/month this month, you use this money to generate more income the next month and so on.


Yes… this is also called reinvesting in your company. By reinvesting your profits every month, you end-up making a lot more in a year. You can’t do that at work since you can’t reinvest your hours worked to generate more hours every month. You would simply be running towards a burnout if you do it this way.


The key is to find a way to generate more income through a business or sideline but to find how it can be scalable. I would never invest my time and energy in something I can’t scale. By scaling your effort, you do not reset your income at $0 at the beginning of the next month of the next quarter; you are building on what has already been built during the previous period.


Making an Extra $500/Month… Every Month?


As I mentioned previously, my wife and I are entering into a phase where we are willing to work a lot harder to make more dough and reach financial freedom faster than expected. Her first move was to open a daycare at home. Within a week, she has completed 4 applications and is in discussions with another parent to fill her last two places. When she opens in September, she will be making $3,000 in gross income per month. I expect she will net between $1,500 and $2,000. The problem with this idea is that it’s not scalable. It’s impossible to think of making another $500 the following month (unless we bring another kid into the equation, which would be ridiculous). So the addition of income is great, but we need more afterward.


The point with the daycare was to create an entry point. By generating extra income upfront, we are able to use this income to pay a part of our debt… or to build more small money making machines. Once a money making machine is built, it is set to produce a specific amount of income every month. For example, if I create a site generating $50/month the first month, chances are it will continue to generate that much money the following months too. So if I want to generate $500/month, all I need is to create 10 sites per month generating $50/month. The next month, I just have to rinse & repeat my process to make another $500. Following this plan, Ill be making an additional $6,000 per month next year.


How to Create These Money Making Machines


I obviously don’t have the energy, or the time or the inspiration to create 10 small sites per month. The point is also that you need to update them and build some links if you want traffic at one point. Therefore, unless someone goes full time on such a project, he won’t be able to create that many sites.


Not so long ago, I listed what I would do if I didn’t have a job. Here’s a list of 12 ideas to make $500/month online. From this list, the key point is to spend one month per idea. Most of these ideas would continue to generate money forever after I’ve completed the work. For example, I launched my book Dividend Growth back in September 2012 and I receive a check from Amazon every month since then. If I spend a month to write a book (this is what it actually took me in terms of hours), I would be able to generate $6,000 in a year from it (or $500/month). I guess the sales will eventually fade, but maybe not!


This is pretty much the same concept to be applied on each idea: you need something that is scalable and that once it is built, it continues to generate income. Last year, I spent about 20 hours to build my EMT resource site. A year later, with no link building strategy, no comments, no guest posts or any work, the site is earning roughly $40/month. So from 20 hours of work, I’ve now made roughly $600 in the past 15 months. I’m now at $30/hour and still counting. Next year, chances are that I’ll be jumping to $60/hour since I will not work on it and it will still continue to earn money. It’s beautiful isn’t it? This is exactly what you need to find.


Technically, if I wanted to put in 40 hours a week on building niche sites, I would generate 2 sites per week, 8 sites per month and generate a very interesting income after a year of hard work. The key is also to be diversified so if one of my sites is gets hit by Google, I have the remaining ones ensuring a base income.


I’m currently working very hard to plan, in detail, my 12 ideas to make $500/month from each of them. I hope that my plan can be put to work for 2014. Have you ever thought of building so many money making machines that you would be rich within one year?

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June 22, 2013, 11:35 am

Weekend Epic Time

by: MD    Category: Financial Rambling

Another week is here and it’s officially summer time. Cheers to making this the best summer ever!

What should you check out?

23 Surprising Reasons to Work For Yourself @ The Middle Finger Project.

An inspirational and fun look at the idea of working for yourself. I really enjoyed the following line:

“No matter how successful you become, every single day you’ll be kicking and screaming and fighting to stay ahead, and when the pressure’s on, you’ll have no choice but to figure it out. In order to do that, you’ve got to learn stuff.”

Time for the carnivals…

Carnival of Personal Finance #418.

Carnival of Financial Camaraderie.

Carnival of Financial Planning.

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