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9:18 pm August 24, 2011
| Suba @ Wealth Informatics
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Post edited 10:52 pm – August 24, 2011 by Suba @ Wealth Informatics
I have been mulling this over for quite some time now. I have heard about investing the money back into the business. I have done that so far(thesis theme, moving to VPS, outsourcing some work I didn't have time for…). I am also enrolled in a couple of courses online to improve my weaker skills. Iwould also like to learn photoshop formally. But I am curious as to what others think about their business decision to invest back. My questions are
1) What is the best thing(s) you did with your money wrt your blog? I am talking about ROI on money and/or time.
2) What was the worst investment you think was totally not worth it?
3) What would you recommend people do with their money? Is there any investment that successful bloggers wish they had done? That you think us, young bloggers should consider?
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10:40 pm August 24, 2011
| The College Investor
| | San Diego, CA | |
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I really like this question Suba, and I'm excited to read the answers.
In my limited time blogging so far, it has really been the best ROI upgrading to a paid theme. Site loads faster and is cleaner.
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5:07 am August 25, 2011
| Henry @ TotallyMoney
| | London | |
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Don't be afraid of outsourcing work that you are not suited for. I used to try and do everything and learned how to code/design and promote my websites. I realise now that if I used my time to focus on what I was good at rather than things I am not. Then I could be far more productive.
I find it useful to try and put a monetary value onto my time. Try to work out what you think your time is worth then it makes it far easier to make decisions about outsourcing. $100 for a logo may seem like a lot, but if you spend 10 hours designing it you are valuing your time at $10 per hour. I like to think that if I spent 10 hours promoting my site I could get a better return than that.
I would say learning to outsource effectively has been the best use of my time. I found it quite hard to let go of things at first, but once you get used to it can help you focus on what you really are good at as it is rare to be a great designer, coder promoter and writer and if you can find someone that can pick up on your weak points it should really help
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5:54 am August 25, 2011
| Tushar @ Everything Finance
| | Atlanta, GA, United States | |
| Member | posts 386 |
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I can tell you about my worst investment – "Buying Traffic"
There are sites,including Google Adwords, that can give you traffic. But this traffic did not convert for me at all. Maybe I was doing it wrong, but it just didn't work for me and I found it quite a waste of money.
I know focus on promoting via regular channels and outsourcing some of those tasks. The give me a much better ROI.
I have also hired some good staff writers that is working out very well.
Excellent question Suba! Would be eager to learn more ways to improving ROI.
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Tushar @ Everything Finance
Everything Finance
Email: tusharm at gmail dot com
Twitter: @AllFinance
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6:07 am August 25, 2011
| LaTisha @YoungFinances
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Best expense so far has been moving off of blogger and spending 10 bucks a month for Hostgator.
Next I would have to say buying a digital design package that is basically photoshop for inexperienced people. I've used this to create multiple banners, graphics for posts, etc.
But to date, I really haven't spent that much on the blog. I really don't want to spend too much money until I start to see consistent income. A move to thesis or genesis might be next.
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6:40 am August 25, 2011
| Glen Craig
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Best $ moves – Better hosting (each time I've upgraded it's been better), a paid theme (Thesis), and a professional header (via Peter at Logos for Websites).
Also buying my Mac.
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8:39 am August 25, 2011
| MoneyIsTheRoot
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I second Peter @ Logos for Websites… that was my #1 investment right there… nice clean look to my blog, and the header is just great. He was well worth the money.
I am hoping that my money spent on creating an LLC is a great investment as well… I guess only time will tell though…I hear positive and negatives from many people.
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9:13 am August 25, 2011
| The Penny Hoarder
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OOo…I second that. Buying a Mac a few months ago has made blogging so much more enjoyable. :)
I also just finished upgrading to a VPS last month and I think it was worth the money. I like knowing that I don't have to worry about GoDaddy taking my site offline anytime I get a traffic boost.
Glen Craig – Free From Broke said:
Best $ moves – Better hosting (each time I've upgraded it's been better), a paid theme (Thesis), and a professional header (via Peter at Logos for Websites).
Also buying my Mac.
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11:22 am August 25, 2011
| JT_McGee
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Post edited 11:29 am – August 25, 2011 by JT_McGee
For the blog, I have no idea, as I haven't spent much at all on it. It's kinda an extra time project.
But, I've spent a lot on other sites (not blogs as there are no regular posts or anything) and I can say that my best ROI came from:
1) Aweber mailing list
2) Quality design (Spend more than you think you should on a design…seriously.) Maintain a relationship with this person for the next one.
3) In-post/page design – It's one thing to have a killer theme, but if the images you use inside the content do not match the quality of the original design then you might as well have a poor theme. Design really is about the weakest link. The worst items will bring down the best more than the best will bring up the worst. I'd definitely learn photoshop, or find a way to pay someone to make the in-post elements for me.
And of course, the ABSOLUTE best thing that doesn't cost a dime: Ask someone else (preferably someone who isn't great with computers) to navigate your site/review it. I did this with a few friends of mine who aren't super-techy at all and they definitely gave me a valuable perspective of what the most common/most profitable web surfer sees in a site.
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12:28 pm August 25, 2011
| Miss T @ Prairie Eco-Thrifter
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Great question Suba.
For me outsourcing has been key. I now have a few staff writers which helps me give readers a different perspective and frees me up to still generate good content; my brain was getting burnt out.
I have also outsourced some help with SEO and site design. Since I know nothing about CSS this was a smart move. I wanted it to be done right.
Third I have spent money on a good host. They have great back up servers, great support, and are always willing to help.
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12:36 pm August 25, 2011
| Jeff @ Sustainable Life Blog
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My best investment so far has been a premium theme – site loaded much faster after.
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2:45 pm August 25, 2011
| Suba @ Wealth Informatics
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Thanks a lot for the replies so far, guys! I did my own logo, but I am not against getting one professionally made in the future.
I like my thesis theme too. And I moved 4 hosts before I settled on this one, my 5th lol. I lost some money in those, but I think this will be a good move (or I hope so).
I have been toying with the idea of having a mailing list, I just don't know what I will do with that :)
For people who have not spent any money already, I think I should also add this 4th question
4) If you had a lot of money to invest in your business, what would you spend it on? Sort of like a wish list.
Mine is a social media person and probably a VA.
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3:05 pm August 25, 2011
| MoneyIsTheRoot
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I would DEFINITELY hire a social media person! The amount of time that takes up on my part is just too much, not to mention there are people much better suited to handle it than myself. I almost want to just bite the bullet and price some people out. We have Yakezie that offer all sorts of services, but this is one I havent seen anyone dive into yet…
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3:07 pm August 25, 2011
| Charles @ MoneyGreenLife
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Paid traffic was the worst. All traffic came from china and india. so dumb.
I think logos for websites is a great idea. Right now i'm in the market for a good header.
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3:18 pm August 25, 2011
| Tushar @ Everything Finance
| | Atlanta, GA, United States | |
| Member | posts 386 |
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@Charles, Thank God , I'm not the only one who tried Paid Traffic.
@moneyinstheroot, I would hire a social media person TODAY! If anyone knows a person who can take care of social media and community building, please let me know.
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Tushar @ Everything Finance
Everything Finance
Email: tusharm at gmail dot com
Twitter: @AllFinance
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3:22 pm August 25, 2011
| Suba @ Wealth Informatics
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Jesse @ PFFirewall does some social media work for me, he is also my community manager for BP (few of you might have already met him through your comments). He is great. I would hire him for more hrs if I had the money…
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3:28 pm August 25, 2011
| MoneyIsTheRoot
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Suba @ Wealth Informatics said:
Jesse @ PFFirewall does some social media work for me, he is also my community manager for BP (few of you might have already met him through your comments). He is great. I would hire him for more hrs if I had the money…
Thanks for the heads up Suba, I have spoken with Jesse a few times…didnt know he did social media work though. It all comes down to money right…the more I find things I want to add or tweak, the more money I can see myself spending.
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3:31 pm August 25, 2011
| Tushar @ Everything Finance
| | Atlanta, GA, United States | |
| Member | posts 386 |
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Suba @ Wealth Informatics said:
Jesse @ PFFirewall does some social media work for me, he is also my community manager for BP (few of you might have already met him through your comments). He is great. I would hire him for more hrs if I had the money…
Suba, can you tell me what kind of tasks does he do for you? If you can give some details that would really help.
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Tushar @ Everything Finance
Everything Finance
Email: tusharm at gmail dot com
Twitter: @AllFinance
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4:26 pm August 25, 2011
| Melissa (Mom's Plans)
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MoneyIsTheRoot said:
I would DEFINITELY hire a social media person! The amount of time that takes up on my part is just too much, not to mention there are people much better suited to handle it than myself. I almost want to just bite the bullet and price some people out. We have Yakezie that offer all sorts of services, but this is one I havent seen anyone dive into yet…
Money Is the Root–this is a good point. I know there are many Yakezie members who offer different blogging services. Is there somewhere we could find who is offering which services? If not, we should have a place to list everyone who provides a service such as Crystal for advertising, Jesse for social media, etc.
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5:28 pm August 25, 2011
| Sandy @ yesiamcheap
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| Member | posts 802 |
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Best: $7.99 for the domain.
Worst: Not buying yesimcheap.com too…and finding a great ghostwriter that puts out 2 decent articles a month for about $6 each. Can't beat that with a bat.
What to do with your money?: Get a decent theme although I'm fricken cheap, so my theme was free. If your site looks like patchwork people don't pay attention to the content…although, as I've said, my site is held together by duct tape.
I would also recommend that you get socially engaged as soon as you can.
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