New Years Resolution For An Online Business

January 1st, 200712 Comments

I’ve been serious about online monetization for about 3 years. Each year, my New Year’s resolution has remained the same, and this year is no different.

I will double my monthly profits within 1 year

That’s it. It’s a simple, straightforward goal. But it’s also totally doable, and so far I’ve managed to do it fairly precisely. It’s almost uncanny how close to doubling profits I come each year. And I attribute my success to setting this simple goal and then taking steps each day to get a little closer.

In December 2006, I pulled in about $1760 from a variety of sources (AdSense, Text Link Ads, Amazon, private ad sales). That’s not quite a livable wage in America. However, my goal is to make at least $3500 in December 2007, which positions me to take this on as a full time job. Total freedom.

I’ve got a number of projects in the works. Most of them have to do with various forms of online publishing (video, text, etc.). I’d also like to release a software product, but I want my software products to be “icing on the cake” and not the core of my income, so it will take a back seat to the bread and butter projects and may not see a release in 2007.

I’ve always shyed away from affiliate income. I’ve just never been able to crack the nut to make it worth the effort. This year, I’m committed to learning the ropes for making a decent affiliate income. I may need to get some advice for this, though, so don’t be surprise if one of my articles asks for suggestions.

I hope to acquire two new high quality websites in 2007. My portfolio has gotten about as big as I’m comfortable with, but I would like to buy and sell a few sites…do some flipping for profit. 2006 was very nice to me in this regard. I bought two money sites for dirt cheap in 2006, and those sites continue to pay dividends well beyond their purchase price. My goal is to identify at least 2 undervalued, undermonetized sites, develop them a bit, make a profit off ads, and then possibly sell them for a sizable profit.

Finally, I’m most excited about the prospects of developing a model for how normal individuals can invest in web content and look to make better returns than one could get on Wall Street. I believe strongly that one can invest in web content just like one can invest in real estate or stocks, and I’ve been given the chance to prove this concept to an individual who approached College tartup about it. 2007 will mark the beginning of this 3 year project and we’re extremely pumped to make it work.

Nonetheless, my simple resolution this year is to double my monthly profits by December 2007. And I think you should consider a similar resolution for your online business too. The web provides such huge opportunities for growth and makes a doubling of profits totally doable.

Related Articles:

• 2007 Goal Reached Eight Months Early
• Set New Business Goals. It’s New Years Resolution Time
• New Year’s Resolutions: What’s Your Status?
• My Business Goals and Resolution for 2008
• The Second New College Startup Blogger

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