Everyone dreams of working for themselves. However, the amount of capital and commitment that goes into developing a product or service-based business can be daunting. This is why low-risk and less time consuming entrepreneurial ventures, like blogging, have risen to popularity.
People may be worried that writing a blog lacks the societal marker of a “real job”. Others associate blogging with adolescence and sensationalist commentary. In actuality, it’s been reported that “blogs [are viewed] as the 5th most trustworthy source for gathering online information.” (Ouellette, 2020) Creating a blog allows you to express yourself while educating others about products, topics, or services you believe in, have tested and/or are passionate about.
Since 2015, the blogging industry has grown by 15% (Ouellette, 2020).
Before starting your business, there are several things you need to consider: competition, cost, and niche. Since this Have you ever looked at your transaction history in your bank account and were shocked about where your money went or how quickly you spent your money? You are not alone! Below are some helpful tips on how to help with managing your money. One way to start having healthier finances is to avoid impulse purchases. CNBC reports that Americans on average spend about $450 per month or a total of $5,400 per year because of impulse spending (CNBC, 2018). How can you solve this problem? Implement the 24-hour rule: if you want to purchase a non-essential item, wait 24 hours before buying it. Crystal Bailey, a former manager for Northern Trust Bank, stated during an interview, “Whenever your purchases are not in line with your overall financial goals, they more than likely will work against your goal. Financial success does not happen by accident. It is the result of focused spending and strategic planning.” is not a mutually exclusive product, consumers can and will read multiple blogs without a problem so competition is irrelevant. However, you should still be cognizant of competitors and keep up with both short and long-term trends. As for cost, there are relatively low barriers to entry. Your biggest expense will likely be website design and maintenance. Additionally, choose a niche you are passionate about but be aware that certain subjects might already be too saturated to allow for growth. As famous lifestyle blogger Lexy Spreitzer stated, “Don’t just do it because you want recognition online. If you’re unique, you’ll attract a broader audience.”
Now you’re probably wondering: How do I monetize this? Since “content marketing [has been seen to] produce 3X more leads than a paid search” (Robinson, 2020), companies are now working with creators to implement integrated marketing. Integrated marketing relies heavily on storytelling and provides the consumer with a connection to the product by embedding it in articles as affiliated links or through creators’ platforms (e.g. Instagram) to reach consumers through sponsored posts and brand deals. Ultimately, starting a blog will require consistency and passion. However, if the niche you choose is one that you are interested in, you will inherently be building your own business around something you love. As Alisha Somani, founder of the publication Feature Female stated, “Your voice matters and you should use it.”