Many bloggers are so worried about making the most money possible from their blog, that they don’t really stop to think about spending money. Yes, when it comes to making money, spending it seems like the last thing you’d want to do. But, the saying “you gotta spend some to make some” is true, and it’s also something I know from experience.
Now, the message that I want to get across to you is that it’s okay to spend money on your blog. I’m not telling you go to spend money on something that you can’t afford, or won’t help you. It all comes down to deciding what you really need, and whether or not you can justify spending money for it.
I have been a bit of a spender lately, but anything I have purchased in the last week or so are really going to help me make what I do just so much better. And my 3 main purchases were all well over a few hundred dollars each. But I had no problem spending the money, so long as that was for a good reason.
I’m not rich by any means, and I don’t want to sound like a snob or anything. But what I am trying to say is that if you see something that you might need (not want, there is a difference), and it’s within a price range you can afford, then go for it. But let me expand on that broad statement.
The Difference Between Spending & Investing
You see, as a blogger trying to earn some income from your blog, anything you buy will hopefully help you do that. The purchases I have made this month were all made to help me do that, which is why I had no problem spending.
They were investments; something I could use to help me make money off of.
Now, if I decided to just spend my money on things that really wouldn’t benefit me, then I’m just sort of blowing it off on nothing useful. Then, it becomes a little harder to actually want to spend it because I know I won’t be making that money back.
But that’s the beauty of making those investments, you should one day make your money back and even more because of what you bought. Of course, if you don’t put the work into making sure you invested properly, than you may have just lost money.
But that wouldn’t happen, because the instinct of any passionate blogger is to work hard. And the second instinct should be to want to make these investments.
How to Justify Spending that Money
If you’re a blogger who doesn’t have a very large blog, or much money to your name then it will be a little harder to justify spending potentially hundreds of dollars on something.
But then again, if you don’t have a large blog then you should maybe hold off on spending too much until you have a community to work with.
It took me a year of building up Blogussion and taking on some freelancing jobs before I decided to make my first thousand dollar investment into something.
But once I did it, it paid off well and because I was okay with spending some money (keep in mind, I didn’t have much more left after that), I now have hardly any trouble spending on the things I KNOW I need and that I KNOW will pay for themselves later. It’s all about experience and having the right mindset.
Developing the Right Mindset
Again, it may still be difficult for you to spend your hard earned money on something for your blog. But, you either act big or don’t act at all, right?
I just want to share with you some of the thoughts that were flowing through my head back from before I made my first large investment online. I remember that for an entire day I sat and just thought about what I should do.
I want you to think about the same things I did before you go out spending:
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Will it pay off?
This is the most important question to ask yourself. If you cannot answer this with a big fat “yes,” then I would stop myself from buying right there. You need to purchase with complete confidence.
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Can I use it?
It depends on what you buy really, but you should know if you know how to use it. For example, I bought a vBulletin license the other day and because I have experience with it, I knew I could use it. Don’t go out buying things you may not know how to use, and may not be willing to learn (ex: if you can’t code in PHP/HTML/CSS, don’t buy Thesis).
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Do I absolutely need it?
Spending for luxury is harder, unless you’re spending to simplify your business. For example, do you really need an Apple iPad? I mean, your computer pretty much does everything for you.
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Are there free alternatives?
You should never settle for subpar, settle for only the best. However, there are some things out there you can get for free (the LEGAL way!) that are better than what you can pay for. Don’t believe me? Think about it, WordPress is FREE, yet beats any PAID content management systems. And you can’t argue that.
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What happens if it doesn’t work out?
The only reason an investment you make doesn’t work is because you don’t make it work. Put in the hard work, and don’t think about what could go wrong; just what will go right.
How else could you justify making an investment that could set you back a few hundred dollars? Maybe a thousand? Thousands?
Don’t Get the Wrong Message
I am not saying that because you see a nice product for sale online that you should buy it. I’m saying if you know you can make good use of it and it can somehow help you make back whatever you spent on it and more, then maybe it wouldn’t be bad to buy it. But, buy in moderation.
The Discussion
Leave a Comment Read Again?I absolutely agree Alex.
Remember, this is a business. And no business can be done without some sort of investment (although a web business needs minimal investment).
You are right about the correct mindset. Some people still say I want to make money online by spending absolutely nothing.
I agree with your opinion on the iPad. lol. I mean my laptop does everything that I need, and then I have a smartphone.
Kindest,
Nabeel
Good points you mentioned here bro. It’s all about treating your blog like a business, as I always tell my readers. A business requires money to be invested, and like you said… you need to spend some, to make some. (I agree 110%)
One of the things that often make it hard for people to “invest” wisely when they are tight on money is the fact that they do not know what is an actual investment, and what isn’t “necessary” I think things like hosting, aweber, ninja-affiliate and so on are actual investments. Versuses things like info-products which you can probably do without.
But, it totally depends on the type of person you are. What could be considered an investment to me, may be something you can do without. So like you said, choose wisely!
The whole “investment” thing… it really brings me back to when I was a newbie online, and I was determined to find out how to make money online. So I would constantly throw hundreds of dollars into these courses hoping it would actually make me some money. What I “thought” to be an investment, actually turned out to be a waste of my time.
Hi Alex, I’ve experienced this myself – since my blog was set up as an experiment I didn’t invest any money in it. Only after I’d had it for a year and proved that it could become a viable business did I invest money in a professional redesign – of course I used my own web design company so the costs was lower for me than for most people but it still took me a while to take that financial plunge.
Meanwhile I’d invested hours, weeks and months of my time in the blog – much of it was probably wasted since with the fly-by-night design I don’t think I attracted as many subscribers as I would have otherwise.
Anyway, this is my round about way of agreeing with you. It helps to invest and it’s a way of committing to the project psychologically as well:)
WP is certainly the bestest blogging software, but I will happily argue that it is not the best CMS overall!
In the commercial world I use paid for CMS systems that are far superior to WP in terms of functionality. Depends what you want out of it I guess. But that’s not really the point of this post
!
Back on topic, I think it is worth mentioning the concept of ROI in a post like this. ROI is a measure by which we determine whether the money was well spent, ie the return on our investment. Sometimes ROI can be easier to measure than others, for example if you buy in 10 pages of content you could measure you’re ROI based on traffic to those pages and subsequent pages, although it is never clear cut.
Is it the $500 training program you bought that is responsible for your profit, or maybe it’s just the hard work you are putting in? We need to think very carefully about objective measures of our returns.
Adwords is the easiest to measure as you can derive profit by keyword. If a keyword is making a profit – keep piling in the cash!
Always have in mind what you hope to get out of it, try to measure if possible, and learn from the process. Re-invest when it works out. Cut your losses when it doesn’t.
What did you invest in?
I decided right out of the gate that I’d spend money on my blog using the same guidelines I would for any other type of business. My expenditures have to pass some pretty tough criteria/reviews (best quality product for the price, etc.) but like you, I see these things as investments in a growing business.
If you have money in your pocket and you are a blogger or form any other profession then,if you invest that money properly, you can undoubtedly earn profit.
You should always make strategy before investing money that how this investment will pay you off.
At first i started my blog, i pay adwords, PPC for advertising, was happy for the traffic for the beginning, but then i realise, those people won’t come back again, so that’s not a targetted visitors.
So i stop advertising my site that way, but build links instead that it can improve my SERPs.
Good post, Alex. This article is exactly where I am at right now.
The battery on my laptop is shot and I really need a new one. It kills me to have to buy it though because I can always plug it in, right? I’m torn but like you said, do I absolutely need it? No, but it would make things easier! There may be degrees of necessity because it isn’t something I absolutely need but it isn’t something I want either.
agreed….investing on blogging is a big decision to make and i have just written a post about the same although it is confined to india….
for me, i always want to spend money on my blog but before that i look everywhere to find free and good alternatives
Hey Alex,
Nice Post dude. You’ve made some great Points. Last month i spend more than $50 for my blog design. I think having a unique design is really important.
Thanks for sharing this great Post.
~Dev
Impressive article,i usually search for free themes and content.But after reading this article i have just invested $79 in couponpress theme for my blog.I hope it will pay me back.As you said “it is investment to spend on your blog”
Really great post Alex,
You are absolutely right. There are some things you need to spend money for and some of them include your blog design e.t.c.
This post makes complete sense and i can absolutely relate with it.
Thanks so much for the great post,
-Onibalusi
The only money I’ve spent for my blogs is on a Wordpress theme. I don’t really make enough money to spend large amounts on advertising or things.
Investments are always worth the price.
The key is that it is an investment. That means that it brings a return. The greatest investment you can make is education. It can be formal or informal but invest the time and resources in learning new skills (like CSS,HTML,PHP, etc.), new business philosophies, and greater discipline.
Often the greatest things you receive from an education is discipline of habits and thought.
Investments are essential to both yourself and your blog.
Very good point, Seth. You can never go wrong by investing in yourself.
Sometimes i refuse to spend even a single penny for blogging because i do not have confidence to earn it back. You are right! We should only invest on products that we can really make use of it. I bought Thesis Theme but i really do not know how to customize it. Then it will become useless for me.
The best way to spend your money is to plan your goals first. This will open your mind to what you should do with your hard earned money.
You are right! But for a beginner, as he is a newbie, he needs a lot of help from others in deciding whether to spend money or not. As you said “you gotta spend some to make some”, everyone has to ‘invest’ even if it is a little amount and gain experience out of it.
-Sandeep
MY company also own a dozen of paid blogs…and i am maintaiing these blogs. I am gonna share this article with my boss, he’s gonna like it. wonderful work.
those are good questions to ask yourself before spending/investing on your blog. I actually think of the 1st one more often than not. I have already planned to pimp my blog in the near future (thesis theme, opensiteexplorer pro, blah blah). But the most that I usually think of is those affiliate products, since it’s just fair to be honest that I’ve truly tried what I’ll be promoting in the future. But the 1 question that lingers is “will it pay off”… and I believe that’s where we tend to find free alternatives, mostly. So what I really think about investing on a blog (particularly with affiliate products), in order to maximize your expenses, promote products that you need, then eventually earn from it
By the way Alex, I’ll be using a different email account from now on, had some frustrating issues about my previous one. Have a great weekend.
Regards,
Jason Acidre
Exactly!
And what I like to do, is every few months evaluate my paid monthly subscriptions. If they’re still useful, I keep them.. otherwise I end them and put that $ to better use.
GOLDEN TIP I just discovered: There are people willing to work for free if you’re willing to give them some of your time to teach. Being on a shoestring budget in the beginning, I’m more than happy to trade my time for quality SEO content, or other work.
If I would spend money on blog, it would be on the design. I always wanted to have my blog designed like your blogussion, Alex, though I’ll never know when can I afford it. Hell, I even can’t buy myself Chris Pearson’s Thesis.
I agree, Julius. Blog design is often overlooked by many people, but I believe it is just as important as content. Whenever you can afford it, definitely go for it! (and you can’t go wrong with Thesis!)
Running a blog is like running any type of other business. You absolutely have to spend money to make money…….unless you want to put in a ridiculous amount of time…..
I think your last point on the most important. It’s bad enough when you have a hard drive full of freebies just sitting there; nothing worse then all kinds of cost-based items sitting there collecting virtual dust.
This is a great article Alex! I preach this to my clients and on my blog(s) all the time. I have probably spent more this year investing than in the previous almost 3yrs combined, but it is paying off for me.
One of the biggest problems I see when people buy products, especially informational or educational courses, they don’t actually apply what they learned. Unlike what Rob said, I have actually bought some great informational products, paid to be in a few membership sites, and even a couple of webinars in the last few months. I try to actually apply what I learn, I take notes, and I act on what knowledge I come away with.
hey alex,
i can totally relate to what you have to say here.
during the initial start where i was beginning to venture upon the lucrative business of making money online, i actually spent a lot as I thought those products would eventually yield me fantastic results. I spent for ‘PPC’, products on how to get traffic, make $123.563.34 within a week as such. Yes, it happened to me.
i didn’t put in much effort as you said for the fact that I was so hyped up in believing that making money online doesn’t take much effort. Just a click of button and poof! money in my bank…. who am i to kid around with? by the time i have had realized, i was broked because i was spending unnecessarily.
However, that didn’t stop me from believing in making money online. i still continue to pursue its lucrative benefits but , i got rid of the mindset that making money online is easy, in fact it is not and I stopped spending anything. I would opt in for anything that is free only.
It only managed to take me ‘this’ far. barely enough but i wasnt settled for just enough. However, I was afraid to purchase anything again online. I had buysomethingonlinephobia. =P
however, as reluctant as i was to spend i actually pushed myself to do so once again. purchasing only what is necessary. It wasn’t simple to take the first move once again but i can proudly say its worth the ‘push’.
Therefore, as you mentioned,alex. its really more of investing than spending. learn to purchase on stuff that you can relatively relate and work with. do not spend just because you were particularly interested with its “Make $675,950.95 a week’ headline.
=)
cheers
great post great in sight great information
keep up the good work,mate.
Good Game
I started off blogging some time ago, and didn’t really learn to start putting money back into my blog and other sites until a little while ago.
Let me tell you, the results were outstanding. I now believe that at least 50%
of your blog’s revenue should go back into it in some way, whether it be design, advertising, etc.
Sure, there are many free services available, but I find the premium services seem to make all the difference.
Do I need it? That is the first question appearing in my mind when I want to buy something. If we think like that, we can save a lot of money instead of wasting it.
Investment for sure is a very important factor regarding internet marketing. You will progress faster by investing in the right stuff. But you also gotta be careful to not invest in some scam which is so wide spread on the internet.
I like a lot what you said here Alex. You’re right on point with the old saying “you need to spend money to…” but more than money they need to spend TIME. Time learning how to do things and time applying what they’ve learned. I really feel bad for those out there just writing and writing, and expecting there blogs to be found and the money to just fall of the skies.
There is more to blogging than just spending money everyone! Go start hustling now!
It does seem like there are a lot of bloggers that are not willing to invest in their blogs. If you look at your blog as a business then you should realize that there are some start up costs and some costs to continue to operate. I think to grow your blog it is important to think about reinvesting a portion of your proceeds to marketing. All successful companies invest a certain percentage of their revenue for marketing.
cant believe you are only 16, your article is just what blogger really think before they want to earn something from it.
Oh I have no problems with “wanting” to spend money on my blog. However, I am poor as a church mouse and my focus is on just making ends meet. But I do have a few pennies scraped together for a couple of things I think would really benefit my blog.
I just have to keep scraping to get to my goal!
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Profound words man!
It applies to investing time to.
Don’t go and buy or invest time because something is available and make a use of it. But go if you have a requirement – then it makes sense to look for the best.
But I am sure you are at the stage (the leading edge of thought) where what you really want is same as what you need.
Would love to know what you invested in.
Are you saying me buying a big monitor, a carpet and an office chair doesn’t worth it. That sucks.
I am kidding. I am trying to mock those bloggers that show pictures of their office with gigantic stuffs.
lol..
that reminds me. at one time a friend of mine bought home this really huge LCD monitor screen and posted it up on a social community network. everyone went like ‘WOW’ , ‘COOL’..
instead i went like. ‘what the..f**k!?’
its not because i envied his procession but i see no point in actually getting one.. he claims he bought it so he could watch his favorite movie!
>_<
lol
I think you should always weigh in two things:
Will it broaden your knowledge
Will it trickle back to your blog
If you were to buy a product or service which greatly expands your knowledge on a subject or makes things easier you can later talk about it on your blog, recommend it, write a tutorial and be 100% honest on your views about it.
Great tips! Investment, indeed, is the term. To some of my family, they would refer me as frugal. But when I buy something, I don’t mind the price most of the times. Its because I buy quality goods or something that’s really worth my money. I guess we really have to weigh things first before we spend money for something.
I always believed money and effort are two important investments which you can make to make your blog popular.
Things like choosing a good host, buying good domain and Buying quality traffic are investments which we should never back from trying out.
Every nice and understanding. I bookmark this blog.
well put article thanks for the info I will bookmark this post.
The right investment in any business are important and dificult decision to make. But every investment you make should build your assets in your business or blog!
Some really good points raised there, I have never thought of it in terms of Spending and Investing, I just thought of them as the same sort of thing, but now you have made it very clear to me that they are different, I believe that it would be valuable for me to invest some money in my blog.
Thanks for the great article, really helpful
Christopher from Technology Blog
Some really good points raised there, I have never thought of it in terms of Spending and Investing, I just thought of them as the same sort of thing, but now you have made it very clear to me that they are different, I believe that it would be valuable for me to invest some money in my blog.
Thanks for the great article, really helpful
Some really good points raised there, I have never thought of it in terms of Spending and Investing, I just thought of them as the same sort of thing, but now you have made it very clear to me that they are different, I believe that it would be valuable for me to invest some money in my blog.
Thanks for the great article, really helpful
Christopher from Technology Blog
Excellent Post Alex I agreed with you.
Some really good points raised in this post, a definate way to have the best return on investment, it’s worth taking a look at a variety of business projects from property investment private equity and so much more, there is money to be made out there
Some great points in this article. I was spending a ton of money on domain names and WordPress themes without having ever made a dollar from my sites. However, it wasn’t always about the money but I still wasn’t getting enough intellectual satisfaction out of my sites. I’ve since scaled back from 10 sites to about 3 that I really focus on. Good post.
I would for any other type of business. My expenditures have to pass some pretty tough criteria/reviews (best quality product for the price, etc.)
I have not spent a lot on my blog – just some traffic boosters and email campaigns with landing pages directed at the blog. The investment is really your time and commitment to write about others and product awesome content that is shareable. I am impressed by your age and accomplishments!
The best thing anybody can spend money on for a blog is the initial investment of a great, original, custom-made WP theme. If you are serious about it, you can make back a $2,000 investment in about 6 months and watch your profits explode as your readers take your blog more seriously than the average Joe’s blog. it’s all about being original and interesting. You have to spend money to make money.
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