As you can tell from my last few posts, I’ve spent quite a bit of time analyzing my numbers. I think this will be my last numbers post for awhile. Bear with me because I’m doing my end of the year analysis.
The Starving Writer
To some extent, we are all starving artists. We start out writing tons of articles while still earning pennies. However, because we love what we do and see the promise of more money to come, we stick with it. I’m not rolling in the dough, but my pennies are turning into dollars now and I can drop some venues and spend a little more time on things I love to do.
For the Love of Writing
I love writing here on NJFM because there are absolutely no expectations (well, at least on my part). NJFM is my morning coffee ramble and I seem to have found quite a few people who like to ramble along with me. That’s the great part about writing here. The down side is that it’s not lucrative at all. I make a few bucks here, but this is a venture of love, not profit.
Writing for Profit
After reviewing my scattered and assorted writing venues, I discovered that in 2010 I spent my time writing for 29 different sites and blogs. Many of the blogs are my own blogs, but 29 is a huge number. Talk about spreading yourself too thin.
With the pruning shears in hand I did quite a bit of soul searching and numbers crunching. I’ve decided to put many of my projects on hold. I’m not abandoning them; I’m just putting them on hold for 2011. I’ll come back to them when I’m able to spend focused time on them (focus is my new buzz word for 2011).
Narrowing the Writing Playing Field
The numbers speak for themselves. Here’s a summary of my 2010 writing. For those of you who receive my newsletter, some of these figures won’t surprise you. But since writing the newsletter, I sliced and diced my numbers a bit more. Here they are (I originally drafted this post on 12/22/10 so my numbers don’t include earnings or articles since then):
|Site||Number of Articles||% of Total Writing Time||Income Percent|
|Dud Articles placed on $0 income sites||97||13%||0%|
|Low Income Earnings||97||13%||4%|
|My top 4 writing sites||194||26%||80%|
(26% of my writing time yielded 80% of my total income)
Now, here are those same numbers viewed through the residual income eye (I’m dropping Demand Media Studios from the mix).
|Site||# Articles||% of Residual Writing Time||Income Percent|
|$0 income Articles||97||19%||0|
|High Powered Sites||194||39%||93%|
(39% of my residual writing time yielded 93% of my residual income)
After looking at the numbers, I examined my heart. NJFM will always remain in the writing mix. NJFM is more than dollars and cents; it’s my muse and helps to keep me grounded. However, the $0 income and low income sites will go on the back burner for 2011. Well, all except for 2 of them which I believe are potential money makers if I give them the right amount of attention.
High Powered Sites
Of my high-powered sites, two I own and two I don’t. It’s no secret that eHow and Suite 101 are my high-powered sites. The revenue hierarchy, however, is changing. With Suite’s dropping numbers and my own site’s growing revenue, Suite is no longer my second best earning venue. My goal is to make my own sites my number 1 and number 2 best earners.
Online Writing Going forward
If you look at the numbers, I wrote over 750 articles last year and only 26% of them were real winners. 75% of my writing time was not efficiently used. Now that I’m aware of the return on my efforts, if I double my winners, drop my losers and write nothing but residual articles for 2011, I could conceivably increase my income by writing half as much as I did last year. Of course there are factors that we can’t account for, but in theory, it should work.
No Brainer Decisions
In 2011, I’m focusing my efforts on the top 4 sites that brought in the majority of my income last year. Additionally, I have two blogs that are showing signs of becoming money makers. I’ll bring those two along as I continue to write here on NJFM.
I’m working less, but I’m working focused. As you all know, my ultimate goal when I started this online writing stuff is to go 100% residual and to earn $10,000 per month from that residual income. After 3 ½ years, I think I’ve got the first part of the goal in the bag. I’m going 100% residual (with an occasional DMS here or there). Now I have to focus on bringing in more money until I reach (and surpass) my goal of $10,000 a month.
Does Online Writing Work?
Some folks like to argue that it’s a waste of time writing residual articles. They don’t see the long-term dream. I don’t fault them for their opinion because it’s just that, an opinion. If you’re just starting out, my suggestion to you is to decide what YOU want and go for it. Sometimes you have to put on blinders and keep writing.
You have to protect your dream by staying away from Negative Nellies and forums/blogs that tell you it’s impossible to do. As the saying goes “Whether you think you can or you think you can’t, you’re right.”
Happy Writing in 2011!
(I’m not usually so long winded, but I had a lot to say today)