Becoming an Entrepreneurial Writer: Blogging as A Business Basics

May 17, 2013 By Leave a Comment

entrepreneurial writerAs newspapers and magazines dwindle, more and more people are starting blogs and online magazines. Niche and hyperlocal media seem to be the wave of the future and larger, broad-based publications are slowly disappearing.

By 2020, 40% of Americans will be working as freelancers, paving the way for the stigma that being “self-employed” meant you couldn’t find a job to disappear, according to Jeremy Neuner, CEO and founder of NextSpace, a company that builds co-working communities.

An easy way to break into becoming an entrepreneur if you’re a writer is to start a blog. It’s not easy to start generating income by blogging, but all the tools are readily available at no or low cost to the creator.

I’ll go into more detail in the weeks to come—this post will focus on the basics of getting a blog and its content created–setting the foundations so that money can be made.

Examples of Niche and Hyperlocal Publications

In Philadelphia, there are several niche and hyperlocal publications that are thriving. Philebrity.com, HiddenCityPhiladelphia.com, NEastPhilly.com, Geekadelphia.com, and more. While some operate full-time, others act more as hobbies that bring in some money for those with other jobs. Depending on your focus, your blog or online newspaper/magazine may or may not have the potential for becoming a fulltime startup company.

Sources of Revenue in Blogging

Most people think that advertisements are the primary source of blogging revenue, but advertising, especially when starting out, won’t make you a lot of money. However, there are some programs that are easy to set up to make a little bit of advertising money—like Google Adsense (which works over multiple platforms including Blogger, WordPress.org—but it won’t work on WordPress.com hosted blogs) and WordAds for WordPress.com. You should also have an easy accessible page on your blog for advertisers to check out with rates, sizes of possible advertisements, and statistics about your blog.

But that’s not all. Other sources of revenue include affiliate programs like Amazon Associates and eBay Affiliates where you get a portion of the sales when people who view your blog buy items from their websites after being directed there by your blog. You can also offer a subscription service for your blog (people pay to get access to some of the content), re-publish your content in e-books and books, write reviews (and other posts for companies) on your blog for money, write guest posts for publications on your niche topic and host events related to your blog.

But, before you can focus on making money you first need to create a blog and get content published.

Picking a Niche

Successful blogs focus on a highly specific, or niche topic. Many feature hyperlocal news or feature a specific sport, hobby, career, or more. Spend time exploring other blogs that are already published and try and find a topic that is fairly unique or lacking coverage. Sometimes, blogs are successful at providing a source of information better than one that currently exists. For example, my online magazine focuses on providing information to adult beginners at ballet. While many websites and blogs exist either providing information for professional and pre-professional dancers, no one was providing information to adult recreational dancers like I intended to.

The most important thing about picking a niche is that should be something you are dedicated to, as you’ll be spending countless hours developing the project, many of them which you probably won’t get paid for at the start. Pick something you love.

Choose a Platform, Buy a Domain

There are several different free blogging platforms available: WordPress.com, Blogger, and Tumblr. WordPress.com is perhaps the most versatile of the three as it allows for the most customizable themes and appearances as well as options to upgrade to paid themes and customizable CSS. WordPress.com also allows you to easily transfer to self-hosting using WordPress.org and will even transfer your blog to a server (like BlueHost) once you decide to move for a fee. Blogger is simpler and less versatile. Tumblr may be a good option for those who plan on doing photo-heavy blogs and magazines; Tumblr isn’t a very popular platform for text heavy posts. Setting up directly using WordPress.org is an option as well, but it’ll run you about $80 upfront for a year, which might not be the best direction to take before you know if your idea will take off or not.

While buying a domain isn’t a necessity to start, it’s a cheap way to make your website, blog, or online magazine seem more legitimate. All three platforms will allow you to buy a domain through their services for around $17 a year, making the setup painless.

Get Started Writing

Once your blog is set up, start creating content to attract readers to your posts. Create simple headlines that are straightforward about the post topic and categories for different topics you will write about on your blog. Tagging your posts is also an important step: create short tags that are relevant to the information you are providing. Spend some time figuring out what topics draw more readers and plan to focus on those.

Share, Share, Share!

Share your new website on Facebook, Twitter, G+, etc. You can create a specific fan page for your website at this point and encourage friends, colleagues, and family to like it and post the widget on your page. Like other Facebook pages similar to yours and follow similar Twitter accounts (either from a Twitter account dedicated to your website or your personal one). Also spend some time finding blogs with similar content and comment on them, and perhaps offer to write guest posts for their blogs to help get your site out there. This networking is essential for the growth of your blog.

Next week I’ll cover more about how to specifically use social media and other resources to help to promote your blog and get readers.

What are your thoughts on becoming an entrepreneurial writer?

Is an Entrepreneur Life Right For You?

March 12, 2013 By 2 Comments

While we all dream of Tim Ferris’s 4 Hour Workweek and taking time to travel the world on our luxury yacht, the entrepreneurship dream takes a lot of hard work and dedication.

 

Longer Hours

If you work 40-45 hours each week during normal business hours, and like it, running your own business may not be right for you.

Business owners tend to work longer hours and have a lot more to do in a work week than their corporate office counterparts. Business owners often work 100+ hours per week, including time on weekends, to ensure they can get everything done.

Depending on the nature of your business, you may have to be there during operating hours. Retail hours may force you in over 12 hours a day. Service businesses may require you work at odd hours to meet customer demand.

Let’s just say that predicable, 40-50 hour weeks are going to be a distant memory if you decide to start your own company.

 

Paycheck Uncertainty

If you like getting a set paycheck every two weeks like clockwork, running your own business may not be right for you.

In the beginning, many entrepreneurs have to “bootstrap” it. Bootstrapping means you live off of your savings and fund any business development yourself. You can’t count on making a lot of money early on, so you have to live at a low cost and skimp where you can to get by.

According to Credit Donkey, after five years 50% of small businesses have closed. Only 35% make it to 10 years. Businesses close due to a variety of reasons, but the most common include lack of experience, insufficient capital, poor location, and poor inventory management.

Even if your business doesn’t fail, you have to earn enough money to cover your overhead, operating costs, and pay your employees before you get paid.

 

Self-Reliance

If you like working somewhere stable where a team of people work to ensure your company is successful, running your own business may not be right for you.

When you start a company, everything falls on your shoulders. Keeping customers happy, keeping inventory managed correctly, budgeting time and expenses, paying your staff, keeping legal and tax records, and every other aspect of running the business.

Your success and failure are 100% up to you when you own a business. You can’t blame others or count on others. Sometimes you can’t even count on your partners. Your success is in your hands.

 

Corporate Jobs are Good for A Lot of People

It is easy to find a long list of reasons why owning a business is a good idea. You keep the profits, you control your schedule, and you don’t have a boss at work. But don’t think it is all fun and games.

As a business owner, you and your family may suffer from poor results, you may have to work longer hours, and everyone has a boss (your customers) to report to.

Many small business owners crave a 40 hour work week, a steady paycheck, and a lower stress environment. Some people thrive on the pressures of owning a small business and love the lifestyle.

At the end of the day, you know yourself the best. Think long and hard before making the jump to entrepreneur. The grass is always greener in the next pasture, but you might have it better than you realize.

Prepare for Opening Day

January 2, 2013 By 2 Comments

This week, one of my new businesses had its first day of real life operations. Our party promotion business opened with a bang on New Year’s Eve as we welcomed nearly 200 revelers to dance and party the night away. We learned a lot getting to that point, and I want to share what we learned.

 

Do Everything Early if Possible

Procrastination is the entrepreneurs worst enemy. Everything that we did early worked perfectly. We planned ahead for our audio and lighting systems, our equipment rentals, and much of our setup were easy and stress free.

Some of our last minute purchases, some of which were last minute because of the nature of the items, were more stressful. Refrigerated drinks, ice, and other perishables were last minute purchases, and we felt the crunch time pressure.

 

Plan for Every Detail

We planned for every detail of our event, from the special lighting in the bathrooms to the curtains and outdoor fire pit for smokers. No detail was missed.

Take the time to ensure your opening day is exactly what you want. Whether it is a website layout, brick and mortar store decoration, or event lighting, take the time to get it right.

 

Plan for Budget Overages

We planned on spending money, but some costs came up that we didn’t think about ahead of time, like ticket barcode scanners and a cash box.

Depending on your business, you may have a smaller or larger budget for overage, but make sure to plan for the unexpected expenses.

 

Have Payment Systems with Good Security

Be ready to take your customer’s money and get it safely to the bank. We used a combination of a secure online ticketing company and Square for door purchases. We kept a bank bag with a trusted staff person for cash payments at the door, which were meticulously counted and immediately deposited at the bank.

Payment security is very important and should not be overlooked.

 

Remember to Enjoy It

While we are not all throwing a party, remember to enjoy your grand opening. We all start businesses to make money, but we also pick our businesses because they are something we enjoy and take pride in.

When your big day comes, remember to revel in the moment and enjoy it. And make a few bucks while you are at it.

How To Register Your Business in the UK

December 6, 2012 By Leave a Comment

If you’ve only recently started working for yourself, you may not have considered registering yourself; however, this must be done within the first three months to avoid penalties. The process is actually very simple, but can differ depending on the type of business you want to set up.

 

Sole Trader

If you are operating the whole company yourself, you are a sole trader. This means that any company failures or outstanding debts are your sole responsibility. All you need to do is visit the HM Revenue and Customs website and register as self-employed, and after this you will be required to fill in a Self-Assessment tax return each year. This can all be done online and is incredibly quick and easy – all you need is your National Insurance number.

 

Partnership

If you and another person have equal running in the business, or one person has a significant investment in your company, you have a partnership. To register, you must first obtain a Memorandum and Articles of Association, which can be found at any law stationer or a specialised company formation agent. You must then send off for the relevant forms from Companies House, the UK’s registrar of companies. You can also register by speaking to a solicitor, who will be able to help you draw up a contract and register your partnership for you. Ensure that it is clear from the start what each partner’s role is, how much each partner is liable for, and what steps will be taken in the event of business disagreements or partners leaving the company.

 

Limited Companies

If the liability of your company’s members or subscribers is limited to the amount they have invested, you have a limited company. This means that while you are responsible for the company, you won’t incur the total losses if it runs into trouble. Forming a limited company can also have tax benefits, depending on its structure. The easiest way to register is to go through a dedicated formations service such as The Formations Company, which automatically registers you with Companies House and also offers a number of benefits such as business training and banking. You would still need to contact HMRC to register your limited company.

While the information should give you a helping hand while you register your company, it’s always worth having a discussion with an accountant, as they may be able to highlight the benefits of a certain process, or may even deal with this for you – leaving you free to manage your business.

Starting a Business? How To Have Work Life Balance

November 16, 2012 By Leave a Comment

One of the characteristics of running your own small business is that your hours are rarely nine-to-five. On the one hand, this can allow great flexibility for those owners who need a little more time at home in the mornings, such as parents who need to complete the school run.

On the other hand, as any owner will tell you, setting up a small or medium-sized enterprise (SME) entirely on your own can be a challenging affair that starts to consume all of your time, especially if you’ve never tried it before.

You might think that it’s just temporary and that once your business is properly up and running, you’ll be able to flake out on the sofa or catch up with family and friends to your heart’s content, but this isn’t necessarily the case .

The reality is that as small businesses get going, you’ll find yourself dealing with customer queries, supply companies and following up invoices rather than devising your first marketing strategy or working out how much you need to pay the government.

If you don’t get your work-life balance right from the very start, you’re very likely to be playing catch-up for the rest of your working life, so here are a few tips for the all-important start-up process. Read on for some great advice provided by small business expert XLN Telecom.

 

Managing your Workload

Managing your workload doesn’t have to be a daunting task. To start with, prioritise your workload with the aim of completing the more important tasks first. This way, should anything unexpected crop up, you’ve already dealt with your most pressing issues.

Structuring your day properly will help ensure that you finish on time and aren’t held up by something that could have been completed before something less pressing.

Protecting your Leisure Time

Put boundaries in place in order to protect the time you don’t want to spend working. Work to a strict schedule and, if you know you have a tendency to overrun, tell a family member or a friend to come and drag you away.

 

What’s Really Essential?

A recent survey by Ingenious Britain found that 25 per cent of SME leaders spend more than half of their day on non-core business activities. On your next typical working day, make a list of every task you perform, before sitting down at the end and striking off the ones that could have been done by someone else or entirely circumvented.

Finally, it is important to remember how essential your ‘me’ time is. In a global slowdown, it’s tempting to work harder in order to make up for fewer customers. But finding a good work-life balance early in your SME’s lifespan is absolutely essential, because if you don’t manage it now, then you never will.

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