Financial Habits of Successful Bloggers
Starting a blog is an easy thing to do, but mastering the activity is a whole different story. For WordPress alone, tens of thousands of new blogs are created every day. But how many of these blogs will actually succeed?
Naturally, success is relative, but let’s take a look at one aspect: revenue.
While blogging shouldn’t be all about making money, for those who rely largely on blogging for a living, blog revenue is critical. Beyond, that, however, the lifestyle and habits of bloggers can highly influence their success. You might consider yourself a successful blogger, but if you are not mindful, you might find yourself in financial trouble at some point. You might even find yourself seeking the services of a bankruptcy attorney if you throw (financial) caution to the wind.
So why don’t we take a look at some financial habits of successful bloggers and make sure you stay on the right track?
They set goals.
Any endeavor requires measurable goals in order for it to succeed. Blogging is not exempt from this; and if this activity plays a role in your making a living, then you have to have clear goals.
Successful bloggers ask themselves these questions:
- Where will my blog’s income come from?
- What is my target revenue (for a specific period)?
They keep track of their progress.
More than setting measurable goals, successful bloggers make sure they have a plan to get where they want to go. And, more than that, they keep track of their progress.
For example, if they have a target number of unique visitors for a certain month, they check – say every week – how they are getting along. This way, they can make adjustments if necessary. By monitoring progress, one is not surprised at the end of the month.
They keep looking for new revenue streams.
Some people rake in money just by maintaining a blog, but the landscape is always changing. What worked brilliantly five years ago may not bring in as much today. This is why successful bloggers need to be agile and keep up with the times.
If you used to rely solely on ads to make money, you will likely find yourself frustrated with your earnings. Successful bloggers are on the constant lookout for new ways of earning money in relation to their blogging activities.
Also read: “Show Me The Money!” – This is How Bloggers Need to Make Money in 2014
They invest in tools that will help them earn more.
There’s this old saying that, to make money, you have to spend money. Successful bloggers know and apply this principle.
There are many tools necessary to boost your blog’s success, and some are free – Google has a host of those tools, of which Analytics is one of most useful. The most important tools successful bloggers have in their arsenal include just that – analytics – plus social media tools, content creation tools, premium plugins, organization software, marketing tools, and so on.
Find out which blogging tools are most useful for you and which suit your preferences/habits most. If you have to pay for them, consider shelling out that money.
They live within their means.
Let’s move from the virtual world of blogging to the actual world of living. Successful bloggers do have lives, and they know that how they live affects their success in the long run. While they may strike gold for a while, they know that there may be times when revenue dips. That is why they live within their means and don’t go all crazy spending when there’s money. They work hard to make a successful blog, and make sure that they live a life that doesn’t throw all that hard work down the drain.
Are you a successful blogger? Do you want to be a successful blogger?
Whichever group you belong to, we’d love to know what you think about these financial habits. Do you think they are appropriate? Maybe you can add a few more yourself. Let us hear about them in the comments!