You know the drill – most of us who are trying to make money online by establishing blogs are enticed to build a blog network, while getting our hands dirty in our journey to find what is working and what is not.
Along the way, most of us – as expected – stop doing what we are doing for some time, for some reasons; some just being hit by the new-found reality that their blog network doesn’t make them money; some have just realized that managing blog network is such a pain in the @ss; some others – like me – realized that managing dozens – even hundreds or thousands – low-quality blogs won’t make them more money than taking care of 5 money-making blogs.
And the Google Panda update – the update that smack small and big sites that have low-quality content; many blog networks are built with blogs using autoblogging plugin(s.) While some claims that autoblogs still rock today, the effectiveness is greatly reduced.
Now, let’s go back to my new-found reality; I run plenty of blogs. The main problem with running many blogs is resources. You need time and money to manage your blog network. Unfortunately, despite I make some money from my blogs, I expect them to do better; I’m not sure that hiring people to do ghost blogging, link building and traffic building for my blogs is good for my bottom line. I do have limited budget to build my blog network.
Weeding-out bad blogs, growing good blogs
I need to follow what I “preach” all the time: The 80/20 rule.
The 80/20 rule says that only 20 percent of my blogs are making 80 percent of the income I have, while the rest 80 percent are only making 20 percent of income. This is accurate – well, roughly – but the idea is very true.
Bottom line – I need to take care my top 20 percent, while figuring out what to do with the rest 80 percent.
Choosing the Top 5 blogs
So, choices, choices – I decide to “abandon” my other blogs and focus on the top 5 blogs I own. By abandon, I mean that I will stop doing any updates and link building/SEO efforts and focus all resources I have to the Top 5. I will probably sell the rest, but as they are still making money for me – despite a little – they are still good assets.
Firstly, I, of course, emphasis my selections by highly consider the current revenue of the blogs.
Secondly, I will choose blogs that are having great potential, although not making as much as the other.
Thirdly, I will put my effort to build the 5 blogs I choose (this blog is one of those) – to catch up and fix things up.
So, that’s my plan. How about you? Are you thinking to focus on your money-makers, instead of mingling with the low performers?