For those of you not aware I have been paying several bloggers to blog for my blog network Blogtown Press over the past 5 months to see where it can take blogs. The writers have been doing great, building content, and building a readership at each blog.
Out of the 5 blogs I have writers writing for only one of those blogs has been able to sustain itself and pay for the writer. We even had a few months where that one blog went over straight pay and into percentage partner. With that said, I am sad to report that I have had to discontinue contracts for three of the blogs and keep one of the writers as a single post by post contract blogger.
I feel this is in no way a reflection on their writing but more a reflection on how well I have run Blogtown Press. From a hobby standpoint. I still make money off it, and without having those writers on those three blogs, yes I will make more. But calling myself an entrepreneur I have to realize when I’m just foolishly spending money without a plan, which this was doing. More as an experiment.
Although I still think of the content they’ve produced as an investment, that content is unique and will always be there, it wasn’t building to anything. I didn’t have a plan.
My number one problem was:
1. I was spread too thin from the beginning. None of the blogs had a cohesive tie to one another and no one blog was focused on as the pillar blog of the network. Therefore, we didn’t have a large audience to launch new blogs to and we didn’t have a reason for readers to come back.
Also:
2. I wasn’t spending nearly enough time promoting and getting links. I had writers but wasn’t spreading the word about what they were producing.
Now don’t get me wrong, traffic and revenue have both risen, but not on the blogs that I was paying people to blog on. (Except One) Just building articles, PR, and SE presence allows me to gain more advertisers and gain more readers, and thus, gain more money. But I wasn’t building a business system.
So I’ve cut back on spending and I’m regaining a focus on a new venture that has 10 times more promise, 10 times more focus, and 10 times more people involved! (You knew I was going somewhere with this, more to come in the near future, but be prepared.)
Moral of the story, cut your losses so you can refocus and build back up. Oh yeah, and don’t get defeated.