Action Steps – Summary of the Book

Congratulations on reaching the last chapter of this book. At this point, you have a solid understanding of what you need to do to create an income generating website. Moreover, you understand more about how to earn money online than most people trying to make a living on the net. Now it is time to put that to use.

This chapter contains a short overview of the steps involved in creating a passive income generating site. Each step is also a milestone that you can use to measure your progress towards your passive income goal. So here they are – the seven steps to building an income generating website.

  1. Preparation
  2. Site setup
  3. Site design
  4. Content generation
  5. Monetization strategies
  6. Marketing
  7. Repetition

The skill sets required to build a profitable website are substantial. You should know that you do not need to learn every aspect yourself in order to be successful. Any step can be delegated. You can, for example, hire help from Freelancer or Elance. If you need ongoing help you can take advantage of a virtual assistance firm, such as AskSunday or Brickwork India. Keep in mind, though, that knowing the skills of a web entrepreneur will give you a stronger bargaining position when hiring professionals. You will also be able to tell if their performance is worth their salary.

1. Preparation

Before you start building a site, you need to choose what type of site you want to build – Informational, Entertaining or Ecommerce. You also need to decide upon a niche and how you will earn money within that niche. Additionally, you should write a business plan for the site that outlines the goals you have for it and the steps you need to take to achieve them.

2. Site Setup

The next step is to set up your site. You register with a hosting company to get a web server. You then choose a suitable available domain name that you register and forward to your server. On your server you install and configure WordPress, along with any plug-ins you plan on using. By this stage you now have your own website up and running on your own server with your own domain name.

3. Site Design

From the WordPress theme directory, choose an elegant and well coded template that closely fits your purposes. Rework the design and layout as necessary. Then optimize the site for high search engine rankings and to load quickly. Check browser compatibility and make sure that it validates correctly. Also make sure the site has good navigation and usability. When you are satisfied with the results, make your website live and move on to the next step.

4. Content Generation

In order to attract and keep visitors, your site needs content. Perform a keyword research to discover what content people search for within your niche. Use this information to create high quality keyword specific Content pages. For each Content page you create, make sure to keyword optimize it and to make it sticky.

5. Monetization Strategies

Add multiple streams of income to your site. Remember the five ways of making money from a site: donations, advertising, affiliates, services and products. Use the ones that fit your site best. Optimize the conversion rate by improving your Sales pages and by adding credibility indicators to your site. Each monetization strategy you add, and conversion rate optimization you apply, will raise the income you receive per visitor.

6. Marketing

When you have a way of earning money from your site, and it contains value in the form of content, it is time to start actively promoting it. Use link building strategies to acquire quality back links from relevant high ranking sites. The process of increasing your site traffic is seldom a fast one. To speed things up you can launch a PPC campaign as well, provided that you have a significant enough income per visitor.

7. Repetition

At this stage you have three areas to work on for increasing your income: marketing, content and monetization strategies. Determine your weakest area and focus your efforts there. Again, to recap:

  • Marketing – Brings traffic to your site through the creation of quality back links.
  • Content – Keeps traffic at your site. High quality content makes visitors stay longer and come back often. It also attracts traffic and establishes credibility.
  • Monetization – Improves your income per visitor.

Work on the area that you deem will give you the biggest return on time invested. Continue this process until you reach your income goal or go on to create another site.

Multiple Sites

Once your first site has started to grow, you want to consider building your next one. Running multiple sites has many benefits in terms of income generation.

  • Learning – It brings down the learning curve drastically for the online money making game. You can try out different marketing, content and monetization strategies on different sites and apply what works across all sites in your portfolio.
  • Diversify – It gives you multiple diversified streams of income. If one stream goes down, the chances are another will go up.
  • Experiment – It lets you experiment with different niches, site types and content types – some of which will be more profitable than others.
  • Time – Traffic for a high quality site tends to grow naturally over time. The more sites you have the more you will benefit from this.
  • Leverage – You can use your sites to market your other sites. By sharing your visitors, you can multiply your profits.

I recommend that you take the path of building more than one website. There are few individuals who can make a living from a single website. Those who can almost always have several sites worth of experience behind them, or invest a great deal of time in maintaining their site’s success.

Web Entrepreneurship

If you want to earn a passive income from your online efforts to support your lifestyle without an ordinary job, you need to think of yourself as a web entrepreneur. As a web entrepreneur, your role is not one of continual content generation or web marketing. It is one of creating income generating websites. That is the one goal you need to focus on. All other activities are only the means to this end.

To achieve this goal, you want to focus on building low maintenance or completely maintenance-free sites – fully automatic systems that generate money. For this to work, automation is key. Recurring tasks that cannot be automated you need to delegate. You want to focus on the system and delegate the details. You may need to employ one or several people to take care of these details while you focus on the system. Tasks that you can delegate include, for example, marketing, content generation, web development and email answering.

When you are just starting out, I recommend that you do most things on your own to learn how to play the game. However, once you know that, you want to delegate more and more to free up your time for more important tasks. As a web entrepreneur, you want to decrease the amount of work you perform while your revenue increases. You are the website owner, not necessarily the person running the website or creating content for it. The goal is for your income to be completely independent from your time.

Conclusion

There you have it – the online money making game in a nutshell. The question now is, what will you do with it? When you put this book down, you have two choices. You can either let this information stay in your mind until it fades and is forgotten, or you can take action and apply it to build your own web business. If you think you will decide later, you are fooling yourself, because failing to choose is also a choice. If you do not decide to act right now, you have already decided to let things stay the way they are.

Do not let yourself get stuck in theory and learning. The real value only comes from application. If you are truly committed to creating an online business then here is what you should do next. Go through each chapter of this book one at a time and start taking action. If you find something that you cannot do right away, then highlight the idea in the margin for you to come back to later. Use the seven milestones listed at the beginning of this chapter to keep track of where you are and what you need to focus on doing. Work on building your web business consistently, a little bit each day, and you will soon begin to see results.

Good luck.