After reading many books on blogging, I thought I'd share one of the more basic ideas for people looking into setting up a blog. Darren Rowse and Chris Garrett wrote Problogger, and in it there is a short section that I liked.
People think that you have to have this one amazing idea for a blog and then work at it until it is making you 4 or 5 figures per month. That is possibly, but it overlooks other options. So here are three top models for bloggers.
1) One Excellent Blog. The first, and most direct method, is for someone to focus on one blog. The benefit to this is that you can make sure you are producing enough content for that blog. There are no other tasks pulling you in different directions. Focusing on one blog is probably the best strategy for people new to this craft. It is best to build your chops on one blog before branching out.
2) Running Multiple Blogs. The idea behind having multiple blog is simply, you may not have that one killer idea, but maybe you have 3-5 pretty good ideas. It is still possible to build these blogs out and make moderate amounts of money off of each blog. And all of this blog income combined together can produce a livable wage for you. The other benefit of this method is that if you are just naturally inquisitive and have multiple hobbies/interests, you can write, teach, learn about all of them on your blogs. It can keep things interesting.
3) Freelancing. Once you have established yourself as a quality blogger that produces consistent content, other blog owners may hire you out to write for them. This not only provides you with income. It also introduces you and your blog to another audience. This audience can then begin visiting your blog and become potential clients for you.
4) Flip or Flop. You've seen the HGTV shows where people buy dilapidated houses and make them look nice before selling at a profit. You're probably also aware of tech startups that build their business with a main purpose of selling it to a larger company. This is actually a method for bloggers. They build out a blog with impressive content, and gain consistent blog visitors, and then sell the blog to someone else. This can be lucrative, depending on the amount of web traffic that the blog gets.
So there you have the four main blog building models. Any of the four can be the right fit for you, but you have to choose wisely because experience can play a major role in your success. A new blogger may want to attempt to master building one blog, before attempting to Build & Flip a blog.
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I am a Chicago-area financial adviser to young doctors & business owners.