A New Online Venture?

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There are many instances where people start their own business, but really have no idea what duties they’ll face in the near future in order to keep it running. I know that was the case for me. When I first started my business, I can’t say that I even knew it was a business. All I was doing was writing a few articles online. Sure, I had the idea of making money with it in the future, but there were definitely no guarantees!

After about 8 months, I started getting noticed by advertisers everywhere. Emails started flowing in pretty consistently and I was able to sell some ad space within the sidebar of my homepage. In April of last year, I had my first breakout month – I made $500! I was so excited. After all, I was getting paid for something I had fun doing anyway!

Within the next few months, I noticed that my income was rising. Soon I was making $1,000 a month, then $2,000 a month, and then I actually had a few months where I was able to make $3,000 a month! It was absolutely crazy! I knew that my luck couldn’t go on forever, but one can always hope, right?

Well, I was right, my luck began to fade. That $3,000 average soon widdled its way down to about $1,000 a month, which is still quite nice (don’t get me wrong), but now I realize that I can do more online. There’s plenty of money to be made on the world wide web, and I suddenly had plenty of ideas on how to shift some of that income my way.

A few of my blogger friends have had some good luck with online stores, and I’ve seriously been considering the new venture. Sure, I’d have to figure out which product I would focus on, and it’d probably be wise to get some merchant account services for business, but I am still in the very early stages of development. If I would happen to find the right product, I can see myself being quite happy with online sales.

Have you ever considered making money with an online store? If so, what challenges did you face?

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Money

Derek

AUTHOR Derek

My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.

9 Comments

    • That’s sounds like a nice source of income though! Pretty little effort, but a decent return on your investment (I’m guessing the DVDs cost basically nothing compared to the sale of your product.

  1. I have been thinking about an ebook myself. In fact, I have a fairly decent outline and hope to start on the writing today. Although if my daughter’s soccer team wins, they will play in another game which will take time away from writing. I hope they win anyway.
    cashflowmantra recently posted..GMCR–The Case for Protective Puts

    • You don’t need to be in a huge rush. Just work on the book consistently. It will happen for you!

    • You never know when you could stumble upon that next big app! If you do, that could mean millions of dollars! I mean, take a look at Angry Birds. They’ve definitely made millions!

    • I bet it will happen for you! Keep up the awesome work!

  2. I used to have an online store but no traffic. Now that I have traffic I think an online store would do well. I actually have a site that should do good with at least an affiliate online store. That’s one of the projects I want to work on in about a month.
    LaTisha @YoungFinances recently posted..Entrepreneur Fridays: Mckys Bstro


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