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Thursday, 14 July 2011

Can you make a decent income online?

Can you make a decent income online?
Yes, absolutely.  At the very least, a high five-figure annual income is certainly an attainable goal for an individual working full-time from home.  I’m making a healthy income from StevePavlina.com, and the site is only 19 months old… barely a toddler.  If you have a day job, it will take longer to generate a livable income, but it can still be done part-time if you’re willing to devote a lot of your spare time to it.  I’ve always done it full-time.
Can most people do it?
No, they can’t.  I hope it doesn’t shock you to see a personal development web site use the dreaded C-word.  But I happen to agree with those who say that 99% of people who try to generate serious income from their blogs will fail.  The tagline for this site is “Personal Development for SmartPeople.”  And unfortunately (or fortunately, depending on your outlook), smart people are a minority on this planet.  So while most people can’t make a living this way, I would say that most smart people can.  How do you know whether or not you qualify as smart?  Here’s a good rule of thumb:  If you have to ask the question, you aren’t.
If that last paragraph doesn’t flood my inbox with flames, I don’t know what will.  OK, actually I do.
This kind of 99-1 ratio isn’t unique to blogging though.  You’ll see it in any field with relatively low barriers to entry.  What percentage of wannabe actors, musicians, or athletes ever make enough money from their passions to support themselves?  It doesn’t take much effort to start a blog these days — almost anyone can do it.  Talent counts for something, and the talent that matters in blogging is intelligence.  But that just gets you in the door.  You need to specifically apply your intelligence to one particular talent.  And the best words I can think of to describe that particular talent are:  web savvy.
If you are very web savvy, or if you can learn to become very web savvy, then you have an excellent shot of making enough money from your blog to cover all your living expenses… and then some.  But if becoming truly web savvy is more than your gray matter can handle, then I’ll offer this advice:  Don’t quit your day job.

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