Blog Business Plan: You Need One For Your Blog

Steven3 responsesBlogging
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Making money online is just like making money in the offline world – if you don’t have a plan you’re going to do a lot of fumbling around in the dark. You might get lucky and make a few bucks, but if your intent is to build a business around your blog, then eventually you’re going to need a business plan – and the sooner you get to it, the better.

How do you want to make money?

And don’t say, “With a blog, you ninny!” because that’s not enough. To make money you need to sell something – either a product, a service, or advertising space. All three are equally viable options in the blogosphere and eventually you’ll probably be using a mixture.

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Who do you want to sell to?

This is a make-or-break question. Defining your market is crucial otherwise you’re going to be wasting a lot of time writing content that’s useless.

For example, if you’re promoting your writing service you want to write content that’s relevant to people who would want to hire you for your writing skills. If you spend all of your time blogging about how to write killer content then you’re going to attract people who want to learn how to write. Instead, you should blog about various ways to use content to get more traffic and increase conversions, and the benefits of outsourcing your content. Then you’ll attract readers who want to know how it would benefit them to hire a freelance writer.

No matter what you’re selling on your blog, you need to identify the group of people who would be interested in buying it and create content that’s relevant to only that audience. Everything else is just a waste of time, and when you’re talking about business, Time Equals Money.

What is your unique selling perspective?

Choose any product or niche and you’ll find dozens of competitors. Don’t worry, there’s plenty of room for everyone, but how can you make yourself stand out from the crowd? What makes your blog unique?

For example, in the city where I live there are a dozen grocery stores nearby but I go to the same store all the time. Why? Because they’re known throughout the city for their huge selection of fresh fruit and vegetables. No other store compares. Everything else is the same as any other grocery store, but they have this one unique selling point that sets them apart from the rest.

Keep in mind: This unique selling point is only relevant to a small segment of members in this overall marketplace. It’s a vegetarian’s dream come true, but someone who prefers steak with every meal would go to a store that specializes in meats.

How will you promote your business?

Search engine traffic is important but more and more bloggers are finding that you build a much more stable and sustainable business if you develop multiple traffic streams. It only makes good business sense. If all your traffic is coming through Google and Google decides to close up shop you’re out of business.

Before you decide how you’ll promote your business it’s important to identify your audience so you know the best way to connect. You could spend months building up a huge Facebook following but it won’t do you any good if your audience hangs out at LinkedIn or Pinterest.

Brainstorm your brand

Spend some time thinking about your long-term goals. Very few bloggers hit the big time with just one blog promoting just one product. Where do you see your business in the future? For example, the folks at Pepsi started out making Pepsi-Cola years ago and now you see their logo on clothing, household goods, snack foods, sporting goods and dozens of other products. You might be the next Pepsi – but you won’t get their without a business plan.

When you're learning how to blog for money, you need to understand that the very first step is to create a website. If you're interested in starting your own blog, I have written a step-by-step guide that will show you how to start blogging for money for as little as $3.49 per month (this low price is guaranteed only through my link). You will also receive your own domain name for free ($15 value) by clicking on this link and purchasing at least 12 months of hosting with BlueHost. Keep in mind that if you're learning how to make money off a blog, the first thing you need is your own self-hosted website. It will help you look more professional in front of your visitors, clients, companies, and everyone else.

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  1. Cornelious P

    Great article! Wish you showed how to format that business plan though. I am relaunching my blog in June i been spending the last few months prepping . I been blogging since 07 for fun now i want to go to te next level and your site has been a great help!

    1. Cornelious, formatting the whole business plan is going to take a lot more than a regular blog post. However, it’s definitely on my to-do list! I’ll keep you posted when it goes live.

  2. Cornelious P

    Thanks i will be looking forward to that post.

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