Ever since the Google face slap in March, 2012, I’ve been working overdrive to ensure the survival of our species. If there’s one thing I’m good at, it’s pretending that I have nothing, and that each day is a challenge to put biscuits on the table. Every time there is an assault on my existence or a potential reduction in income, I think back to the days when I worked at McDonald’s from 6am until whenever for $3.25 an hour and I get motivated!
The first step is to pontificate: “What If A Major Income Source Went To Zero?” From this post, we are reminded to be grateful for what we have, diversify, and be grateful some more. There are some great comments in the post which I encourage you all to read.
The second step is to go back to the beginning, and ask ourselves, “What is our value proposition to our readers and clients?” “Why would someone want to visit my site over the millions of other sites out there?” From these questions, came The Yakezie Value Proposition and The Financial Samurai Value Proposition. These are back to basics posts which re-anchor why it is that we do what we do. After doing anything for a while, we sometimes forget what is most important to us, and we lose focus.
The third step is to analyze one’s own income streams and figure out areas for improvement. In “Achieving Financial Freedom One Income Slice At A Time“, I go through step by step the various passive and active income streams, and potential bonus income streams. The process has helped alleviate any irrational fear that I will end up begging on the streets. In fact, through a deep dive analysis I’ve come to realize I have more income streams than I originally thought because I totally forgot about my private equity and private real estate investments. An even greater reward is that several readers have commented similar findings!
The final step is actually putting pontification into motion.
INTRODUCING FINANCIAL SAMURAI ONLINE CONSULTING (FSOS)
Consulting is a very personal and unscalable business that I enjoy. I’ve been paid randomly for my advice on subjects that range from the internet to helping with one’s career. Do note that the large majority of my advice has also been unpaid and I’m happy with that. There’s never been a formal consulting offering to the public or a price to charge. Payment has always been ad hoc, or through simple offerings such as a beer, a steak dinner, accounting help, website design, or a week’s stay in Maui (sweet!).
I love consulting because I think it is inherent in all of us to want to pass on valuable knowledge to others. The Yakezie Forums, both private and public are an incredible resource of free information which I’ve helped provide, and receive at the same time. What I’ve noticed through countless interactions with others is the need for more 1-on-1, personalized help beyond what’s available online.
Thanks to Google, I decided to think about a specific product which I think could help new, or frustrated bloggers gain more traffic and recognition to their sites. I wanted to offer something tangible where results will be immediate. We all know that at the end of the day, traffic is the most important metric for a site. Traffic is real-time feedback on whether the internet world enjoys your content or not.
I thought about what I love to do, and where my strengths are as a blogger. It is clear that I love to write and connect with others. It’s also interesting to note that I get e-mails every single week from advertisers who want to write content on Financial Samurai and pay me hundreds of dollars per post. I’ve declined 99% of them because the content is horrible and the price didn’t justify me spending the time to re-write the post. Instead, how good would it be to get write something I’m proud of, and get compensated as well. Ironically, if I was just out of college and making less, I would probably accept many more of such advertisement posts.
Combining these various aspects, I’ve decided to come up with the “Get On The Map” product. You can learn more about it on Financial Samurai.
GET ON THE MAP!
The “Get On The Map” service is targeted at bloggers who are serious about blogging, but either don’t know where to start, are too shy to connect with others, are suffocating for time, or just want a jump start to their blogging careers.
I went through 6 months of toil, and plenty of rejections and non-responses before things started picking up. From spring to the fall of 2009, you probably couldn’t avoid seeing my name in the comments section of many blogs because I spent probably 20 hours a week at least, reading and interacting. I was the blogosphere’s biggest fan.
Yet, despite my persistent attempts to reach out to bigger bloggers to guest post or staff-write, it was rejection after rejection after rejection. One blogger even held a staff-writing contest that published 7 different posts and I didn’t even get a response after sending an outline and writing a comment on the staff-writing post itself! He eventually responded, but it was too late. The staff writer was already chosen, and I was left wasting my time and re-submitting to other sites again.
If only I could just get on the map somehow. If only someone bigger out there would notice me and just give me a chance. There were many times I wanted to give up during my initial 6 month period, but I decided to soldier on. For those of you who are on the edge of giving up, and who feel they need that supercharge, you’ve now got yourselves a product.
The Get On The Map product entails me writing or working with you to create your own Whale Post on your site. From there, I will write a quality sister post on Financial Samurai that discusses the viewpoints and commentary of your whale post. We will create a dance that will drive traffic towards your site. From there, we will formulate a game plan for you to reset your readership base to a higher level, and build your momentum. The final aspect is tapping into my network of advertisers.
Example of a blogger who benefitted from Get On The Map who has seen a 40% jump in daily traffic since:
THE CONFIDENCE TO TAKE RISKS AND BELIEVE IN YOURSELF
Without Google changing their algorithms to improve their profits at the expense of the little guys, it’s unlikely that I would ever create the “Get On The Map” product. Without Google instilling fear into the hearts of many bloggers, it is unlikely that I would have the motivation to put my product and services out there for people to criticize, applaud, hate, or thank.
I’m sure some will wonder about the $980 pricing because I myself am wondering about the pricing. If I make $300 an hour, and plan to spend roughly 10 hours on the Get On The Map product with a client, is a 70% discount to my time worth it? I concluded that given I’m just starting out, that I would go with this introductory price and see what kind of demand is out there. The good thing for the newest clientele is that I will probably go even farther to make sure the product works for them.
I’ve only got room for three or four Get On The Map clients a month because my time is limited and I want to give as much attention to my clients as possible. I’m excited to see how it goes and see whether or not this is a viable product long-term. I do believe clients will benefit far greater than the cost of the product over the course of a year given many of us know what a lucrative hobby or viable full-time job blogging can be.
Thanks again Google, and for that matter, thank you adversity for giving me the motivation to carry on and think of new ideas!
Looking to learn how to start your own profitable website? Check out my step-by-step guide on how to start a blog. It’s one of the best things I did in 2009 to help earn extra money and break free from Corporate America!
Best,
Sam
Adversity for me is blogging for 8 straight months and barely making any money. About $100 to date… If not for Yakezie, my blog would be highly un-noticed. What do I do? Just keep plugging away. Do as much as I can with the time that I have. The traffic, readership and eventually the income will come.
Good attitude Matt! If you’re headed in the right direction, sooner or later you will get there.
Bugger staff blogging. It pays nothing.
Why haven’t I written my value proposition yet? Good question. I’ve tried to put a little thought into it, and have yet to reach a conclusion (though I think I’m slowly getting there). I blog for selfish reasons, and am reluctant to make it feel like WORK. And that kind of ventures into that territory.
Ah yes, that dreaded thing called WORK! I don’t like to feel like I’m working online either. However, creating things, and testing things out is fun! Writing all the posts, responding to you at 2:45am here in Hawaii, finalizing some business in Europe, and all that stuff is work, but when you can do it on your own time, it’s fine with me!
Hey Sam, kudos for taking the lemons Google serves and turning them into some refreshing lemonade. It will be interesting to the results of your consulting, are you planning on offering regular updates?
For myself, the recent Google updates have been a big blow. But believe it or not I’m glad it happened because it made me realize I had strayed too far from my goals and standards in the name of easy money. It’s put me back on the right path toward building something for the long haul instead of just cashing in.
I will unlikely provide updates, as I want my consulting to be a very private business between myself and my client. There won’t be a case study after case study, b/c if my gut is correct, the clients I will attract like their privacy and are discreet. I am happy to publicize case studies if the client wants.
I’m glad you are glad the Google change up happened! Time to change things up.
Sam, I love the concept and am very interested to check out your first (or I guess second now) gig!
p.s. I agree in it’s current form it is not scalable….however, you may find after one or two sessions you have an idea on how to make it so. I actually did something similar…..I offered up free car buying coaching sessions and realized the same thing, it didn’t scale. But I also realized 90% of my advice was the same for every client, so I came up with a way to automate the advice by putting it into a database and making an interactive guide. Ping me if you want to brainstorm after you’ve done a couple sessions.
Thanks Geoff. I do believe another light bulb will go off regarding scalability, I just don’t know exactly when. It’s about building a little by little and see where things go. Just working with one client a month would be a blast.
I truly enjoy your entrepreneurial spirit Geoff! Thanks for all the help!
I think this is an excellent way to corner the blogging market and increase your income; by offering your marketing services. I’m interested in hearing about some of your case studies. Does just one Whale Post put a blogger on the map? How do they keep up the momentum without fading into the abyss of every other blog? Very curious to hear more.
Ahh, there is so much to share and teach! For the example above, the blogger is without a doubt on the map and benefitting handsomely. It’s more than just the Whale Post, but that is definitely a great start!
I am a balls to the wall kind of guy. Take it for what it is but I make money in different places and blogging has taken me through many financial avenues. Sometimes it’s difficult to see if blogging was the source but sometimes it’s crystal clear. For example I was a graphic designer for 14 years. I stopped in 2004 but because of photography I always had photoshop which kept my foot in the door. The Yakezie challenge has opened up a big door for me. Logo designing. Yep the reason I put up a logo designing page today was because I blog and found Yakezie and because of the Yakezie challenge I have now started to explore that financial avenue. Like I said above sometimes it’s clear and sometimes it’s not but my logo designing avenue is from Yakezie and that is crystal clear. Thanks Sam.
I love it, Sam! I have never written a whale post or a value propositions post mainly because I don’t think I ever put value into it. That being said I think I am starting to get swayed to creating one and putting it up as a page (not a post) with some of my favorite other posts I have written.
I have a feeling your consulting services will be a HIT with that mid-level blogger (like myself) that is making money to justify the purchase but not really sure how to take it to the next level.
One never knows until one tries right? I do recognize the price is a big nut to swallow for many. That said, I also know the return on investment can be large.
I was really surprised when I did a recent Google search of Financial Samurai to see “The Financial Samurai Value Proposition” show up as the first sub-search post given it is not the most heavily trafficked link. However, it makes absolute sense since that is exactly what Google and other search engines want to know. What is your value proposition?
I’ve embedded my value proposition post in my About Page.
Cheers
Liked the concept, it surely opens a new revenue stream. A very good offer for an upstarting blog. But I am not sure how many would be willing to pay $980 for the service, IMO.
Why the price is not $999? :)
Hopefully only the most serious bloggers! $980 is more auspicious. :)
I think this will be a huge hit – not only for revenue, but also establishing yourself as a “guru blogger.” By pricing it at a high or competitive hourly rate, you make a bold statement about the quality of the service. While I know that I would be one of those people who would hesitate to fork over that kind of money, I know others are willing to do it and you will probably see some success from “frustrated” bloggers. I would guess that new bloggers, unless funded by businesses, are not going to be willing to pay that much.
Hopefully nobody will see me as a “guru blogger”, but more like a “power up” advocate who can help someone get going, and be someone to talk to.
The pricing dynamic is interesting b/c I’ve got a lot of other things going on which I enjoy doing as well. As I wrote in the post, if I was a recent college grad or still in my 20’s, my price might be lower. But, maybe not if my site has the same traffic and I have the same knowledge to provide.
Pricing is a fabulous topic that can be written about in depth. There are whole courses on pricing in business school and doctorate programs. I believe there will be much more value created than the price charged.
I love the new product offering! Definitely love that you’re rolling with Google’s punches and coming out stronger. My own site revenue has taken a huge hit, but it’s pushed me to move forward with the apps and build success there.
Thanks Kevin. I am confident we as a group will come out much stronger too. Adversity forces us to change and come up with new ways of doing things. It’s one of the greatest gifts. I’m sure your apps will be better because of it!
BTW, the water is warm here in Honolulu. See you here next month and bring a big appetite!
Now I know how awesome my guest posters are…some of my highest searched posts are the ones submitted for free from Kylie Ofiu, Ellen McKay, etc. I also just realized that I am making great money, but definitely not $300 an hour money…at that rate, just don’t quit your day job! I’m one of the “successes” online and I happily aim for $300 a day…and those are 12-16 hour days…
Just takes time I think. It took me about 8-9 years to start making those types of figures after undergrad and after getting my MBA. I remember slaving away in the office from 5:30am-8pm so many nights the first couple of years. Looking back, it was worth the sacrifice. I’m sure you’ll keep on earning more!
How’s monthly traffic and changes at BIFS nowadays since the Google monster? I’m looking forward to having Kylie on FS one day. We’ve been in touch.
Hope all is well!
Good luck with your new endeavor. I look forward to reading more about it on your site. Very creative approach. Without a doubt your personal persistence will pay dividends and offer valuable information. Scalability is tough with individual consulting…. Next step creating a course for purchase?
Perhaps, but just taking things one step at a time. I will definitely put some structure into my consultation, and tailor the advice and provide action points for specific clients. Thx Barb!
Nice Sam! Glad to hear you are branching out and taking positive action. You always know how to look at the bright side of things and not let even the toughest of situations get you down. I think you’ll be awesome at FSOS and wish you the best.
Ha, nice video. I totally forgot about that video but I clearly remember when it came out and how there was so much talk about it. We all face adversities in life and when we learn not to let them get us down and find ways to learn from them we can really propel ourselves forward and become better, stronger people.
Bend don’t break right?!
I’m sure many a tears were cried from the video when it first came out. Thought it was an appropriate theme!
Wow, amazing sounding plan, Sam. While I’m in no position to take advantage of it right now, it would be wonderful to work with you like this in the future. (Perhaps if my attempt to increase my number of guest posts (among other ‘improve my blog’ work) brings up the traffic to my site, I’ll be able to afford this to make the next leap…) Good luck with your endeavor, and thanks for the reminder that adversity is what we make of it.
Good to hear from you Rog! It’s been a while. Will check out your Member article this week.
This is one of those things I definitely want to do, but I’m so hell bent on paying off my student loan that I don’t have room in my budget yet — hopefully you won’t price yourself out of my level before I’m ready!
Maybe by the time you pay off your student loan, you’ll be well on your way to blogging superstardom and won’t need GOTM!
I was really excited about the product, but in the back of my mind I knew the price would be more than I could handle. My blog hasn’t made a dime, and while I understand that it will be incredibly worth it, for me it is too expensive. I am excited to see the results of others however.
Sorry about that. Perhaps one day. I really am excited to work with clients to build their traffic. Once that’s done, it’s a very easy segway into introducing them to the menu of advertising clients I’ve developed over the years. Advertising clients also have an enormous amount of supply to choose from. By becoming one of my clients, it opens doors to new clients.
Adversity does get me down sometimes, but after the initial shock, I just keep at it. Good luck with your course Sam! Sometimes I know I would benefit from an accountability partner whispering thoughts into my ear.
Sam, I think you hit on something! Although my PR tanked, my traffic my traffic keeps increasing!. Last week, I even had 4-5 days of 1,000-1,200 visitors a day. Some forums picked up one of my articles in September and my traffic started to increase. I went from approx 3,000 visitors to 18-20,000 per month. Although I wouldn’t mind that translating into income, I will just keep doing what my visitors seem to like. Hopefully, my PR will return soon.
Glad your traffic keeps on growing Larry. That’s a nice uptick in numbers!
Sam, best of luck in your new venture. I look forward to talking with you about it.
Thanks Doc. I’m going to keep things discreet for the sake of the clients, but you can ask about bigger picture things if you wish.
A wise blogger suggested I write a post on “Passion vs Persistence”. That post went up today. Not a whale post, but big enough.
Because my day job entails operationalizing new services (the spot between the sales guys and the service guys), I look at what your new endeavor will be and ask “How can you scale it while maintaining the level of personalized interaction?”.
With only 3-4 clients a month, the personalization is sky high. For now, I’m not interested in scaling. I’m interested in really bolstering an individual’s success through 1X1 interaction because that’s what I enjoy.
The recent changes have helped motivate me to stick to my original outline that I created when I first started blogging. I’m pushing for some proprietary products soon and hope to get the planning started at the beginning of June.
I’m looking forward to checking out your prop products! Let me know.
Great offering! Helping with confidence is huge – personally I’ve definitely felt the sting and lack of motivation when I see low traffic. I also know I need to tighten up still with value, my site, etc. That’s all due to me juggling too much without focus though – getting better :)
I hear ya. Folks fizzle out and lose motivation quick when traffic doesn’t grow. There is definitely a high correlation with effort and traffic in this sphere. It all depends on how much you want to succeed. Everything is rational!
I definitely smiled at the rationality concept. Knowing that people usually aren’t rational it’s funny to see how easy and straightforward that correlation. :)
This sounds like a great service! I lost some income through my freelance work thanks to the Google update, but that has lead me to focus more on my own work and ramping up affiliate income.
I’m sure you’re going to more than make it up Melissa!
Great idea Sam! I am sure that you have mapped out a plan to help your client grow traffic consistently after the first Whale post. It’s a tough act to build consistent traffic. I’d love to learn more from you as you share your experience in the months to come.
You’ve inspired me to create a gourmet commenting service, thanks! That’ll help balance out these slow months and I’ll get to read more blogs again every week, yay!
The fact that I’m still producing content in the middle of my exams! Thank you Yakezie, whilst my site has low traffic, it’d be even lower without your help.
I hope this is going well for you!
I am still sorting through everything from the Google udpates, as far as how best to proceed and still be paid for my work. I’ve definitely been given a lot to think about.