To The Moon: 1 News Site + 365 Days = 1,000,000 Dollars [Weekly Journal]

seapunk

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Inspired by a similar thread by fellow forum member Staccs, I've decided to create my own thread documenting my journey from figurative rags to literal riches.

I have:
  • A news website (you'll read more about it in this post)
  • 365 days left in 2015

And I want:

Yep.

Here's a bit about me.

I've held an interest in online marketing for years, but I never bothered to actually read up on it until about a year and a half ago. I spent two months reading up it anywhere I could - I was subscribed to any SEO blog you could name, I spent days combing through old forum posts from anybody who seemed knowledgeable, and most importantly, I experimented with what I learned. I still don't consider myself an expert, but at least I like to think I know what I'm doing.

From there, I built a website that quickly became very well-known in its market. I spent the first month writing articles, building links, all that shit, but after that, it just took off on its own. I was closing ad deals for thousands every other week - all paid upfront for months in advance - until every page was plastered with banners.

All in all I probably made just 10 grand, but the lack of effort required on my part was more of a boon than a blessing. I got really lazy over the summer to the point that I didn't even bother checking my emails... or renewing the domain. Whoops. Yeah, that was really really really stupid.

I'm still pretty pissed about it, but there's no point crying over spilt milk.

So where am I now?

I started a different website a year or so ago. It was a news website covering finance. From the start, it was already doomed - my only goal at the time was to get it into Google News, and worry about money later. Nevertheless, I succeeded in getting it approved, and then quickly realized a little too late that I wasn't going to earn anything from that alone. I stopped all posting on the site (remember the summer I got lazy?) and it's been a ghost town up until now.

Just a week or so ago, I came across a bit of info that led me to realize how much my competitors are making. One of them, who started roughly the same time I started my site, is making $xx,xxx monthly off ad sales. I asked myself, "Why am I not a part of this?"

So, yeah. It's time to bust my ass and get to work.

And that's where you come in.

If you've read this far, thanks!

You can help me by asking questions about what I'm doing. Ask anything.

I'll help you by sharing my ideas, thoughts, and every step of my journey. I'll write a short post here at least once a week about how things are going.

If I miss a post, I'll do the same thing Staccs pledged to do - I'll donate $100 to charity. My charity of choice is the Electronic Freedom Foundation, which has done a lot to promote free speech, privacy, and net neutrality.

That's pretty much the gist of it all. I have a news website, I have 365 days left before the year ends, and hopefully by 2016, I'll have a million dollars in my hands.

Some might consider it an unreasonable, impossible, even foolish goal.

But still, I'll try my best.

Wish me luck, friends :)
 
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Day 4 - What the fuck am I doing?

Holy fuckity shit. I spent $4,739.63 in 2014.

Here's a breakup of my spendings:

  • Content: $4201.84
  • Hosting: $37.74
  • Domain: $350
  • Twitter: $100
  • Theme: $50
  • Total: $4739.63

And here's a breakup of my earnings:

  • Total: $0 (zero, nada, zip, zilch, nothing)
Here are my mistakes, and how I can avoid them from now on:

I didn't organize my finances

I'm not pissed because how much I spent; it's not a lot of money at all in the grand scheme of things. I'm pissed because I didn't know how much I spent in 2014 until 5 minutes ago.

I'll fix that this year by keeping my spendings and shit not only in a notebook, but also in this thread.

I didn't seek advertisers

I could have at least made a couple hundred.

I paid way too much for content

Paying $0.25 or even $0.15 per word was a stupid idea. I don't have pockets as deep as Conde Nast or Vox.

Here's a related piece of common sense I wish I had discovered last year instead of yesterday:

Do not scale prematurely. Don’t try to be a big company early on – just aim to be one. Be slow to spend and to hire at first. Don’t waste time writing mission statements and policy documents. You’re small, nimble and on a mission. Make and sell things. There’ll be time for a HR department later.

Also, higher price doesn't necessarily equal better quality content.

I'll make sure to hire less expensive writers until I can actually afford it.

I'm clueless when it comes to hosting

I'm using a $5/month server from DigitalOcean. It's alright, but I'm looking for a different host because:

  1. I have no idea how to set up a fucking server properly and
  2. $5/month is overkill 99% of the time. The other 1% of the time, I get 1,000 visits in a day from Reddit and the site crashes (refer to the above point for why)
I didn't bargain low enough for the domain

I could have negotiated lower, but I was inexperienced, and in a hurry for no reason. It was still a decent price.

I don't have the matching Facebook handle

So I bought the matching Twitter handle from some guy who was making a site with the same name. $100 was way too much for it, but it was a necessary purchase.

When I went to register a Facebook page later, I realized that the same guy registered one already, and I couldn't reach him any more. Fuck. Now I'm stuck with fb.com/[sitename]news.

Oh well. Right now I have about 100 Twitter followers and 10 Facebook fans.

On the bright side...

I bought a new theme on Themeforest a week ago.

It's one of my favorite news site designs ever, short of hiring a designer myself. I love it.

I've been recruiting a new team of writers

They're great people. I'm really looking forward to working with them.

There's actually fresh content on the site now.

And I got 6 Disqus comments yesterday. And 1 (!!!) newsletter signup - the first of many to come. Yippee! :banana_sml:

YZPFrbE.jpg


Let me know if you've got any questions about my site/this post/life/anything. And thank you for reading.
 
I've got a side venture, GN indexed news site myself (small, but has been cited / linked to by a variety of celebs and MSM).
So I'm interested to see how you do with this project, esp. in regards to content creation and monetization.

Best of luck!

Subscribed.
 
Good luck mate. Hope you kill it.

Quick question: how the fuck did you spend $4k on content?? What rates are you paying?

Solid native English speaking writers are easy to find at $1/100 words on oDesk.
 
Day 14 - hi

Good luck mate. Hope you kill it.

Quick question: how the fuck did you spend $4k on content?? What rates are you paying?

Solid native English speaking writers are easy to find at $1/100 words on oDesk.

Writer A: $1,344.34 (25¢/word, a couple times a week)
Writer B: $1,813.55 (15¢/word, a couple times a week)
Writer C: $1,044.00 (2¢/word, one article every day)
_________________
Total:___.$4,201.84​

People on Reddit and other sites occasionally pointed out how my site was unbiased, how we had more long form articles etc. But in the end, it wasn't making me any money. I could easily have gotten the same quality content for 1¢/word, which is actually what I'm doing right now. I'm currently chatting with a couple of promising writers from Elance. Probably will have them set up with a WordPress account and everything by tomorrow.

And thanks for the Odesk recommendation! I'll check it out sometime this week.

That's a nice little traffic bump right there. How did you go about obtaining it?

About a week ago, I hired a couple of guys from elsewhere that are really passionate about writing, but have no idea what they're doing. They don't know what a news article looks like, and their writing is worse than I thought.

The tiny bump is from someone sharing an opinion article on Reddit. Someone commented to point out the writer's weak arguments and lack of research. The article's title even had a grammar mistake. Embarassing.

I'm thinking of letting these guys go. Probably after I get the Elance/Odesk guys on board.

What I got done in the last 7 days:

Not much at all. I'm trying not to fall back into a cycle of procrastination. Things should get more exciting in the coming week after I get more writers on the team and there's fresh content posted every day.

Stuff I'm going to do by the 21st:

  • Make sure we cover every story our major competitors post
  • Set up Mailchimp to send out (daily? weekly?) briefs
  • Add social widgets to sidebar
  • Find someone to add newsletter form below posts
  • Look into Odesk/Freelancer/similar sites (thanks Louey37)
  • Revisit category structure and see if it can be improved
  • Write 2 articles myself

What are you planning for the next 7 days? I'm all ears! :bigear:
 
For gods sake, hang in there.
But this journal is about you. Knock out your to-do list and keep going.

Thanks for your support, guys.

I managed to knock everything off my list - I wrote two really long articles, got the newsletter stuff all figured out, and made all the little tweaks I had been meaning to for so long.

The one guy I found off Elance seems to have disappeared on me, so I'm waiting for him to go back on Skype so we can get started.

I had trouble figuring out how to put a newsletter box under all my posts, so I settled for SumoMe's List Builder instead, which uses exit intent. I really don't like how it's branded to promote SumoMe, so I will be looking into customizing something like the open-source wBounce.

There isn't a better feeling in the world than this:

PrDA8QU.png
 
Good fucking job mate. That's a solid amount of traffic. How's it coming in? Is it SEO or are you capturing leaks from around the web?

Also, with hiring writers, there are a few tips that have always served me well on oDesk.

1. Post the job and be VERY specific about what you want. Put the $X/100 word rate in the title so everyone knows what the fuck you're about. Also, put one criteria inside the job post that at the very top of the application, they must write a specific word. That way, you can filter out the ones who haven't read the job description without having to read their application.

2. Don't wait for people to apply. You'll never get anyone good like that. Get out there and find people to invite to the job. Every high quality writer I've ever found was invited to the job. I filter the people with the following:
- In the 'writing' category
- Must have been active in the last 2 weeks
- Choose native English speaking countries
- Must have a rate less than $10/hour

Then, scan through the list and find people who're passionate about writing. Don't go for the ones who claim to be experienced, fulltime writers with SEO experience. They tend to write very formulaic articles that lack passion and personality. Go for the people who have a passion for writing. You'll get FAR better articles out of them and they're more than happy to work for less.

Interestingly, these writers are usually the ones with less experience so don't be afraid to hire inexperienced people. Most of the staff I hire have less than 20 hours experience on oDesk. You can get much better quality for far less this way.

Once they're really experienced, they tend to push their rates up and don't work as hard.

I typically invite around 50 people to apply.

3. When the applications come in, do a Skype interview. If you have a personal connection with them and they like you, it means they're more likely to do better work for you.

4. Choose at least 6 to test. Get them to write test articles for you. Typically, 50% won't complete the test article so you'll have at least 3 to choose from. If they're all good, hire them. If none are, go back and invite more people to apply. That way you won't be stuck waiting for someone to reply.

I've hired plenty of writers in my time and this has worked well for me.

Hope that helps mate.
 
Good fucking job mate. That's a solid amount of traffic. How's it coming in? Is it SEO or are you capturing leaks from around the web?

Also, with hiring writers, there are a few tips that have always served me well on oDesk.

1. Post the job and be VERY specific about what you want. Put the $X/100 word rate in the title so everyone knows what the fuck you're about. Also, put one criteria inside the job post that at the very top of the application, they must write a specific word. That way, you can filter out the ones who haven't read the job description without having to read their application.

2. Don't wait for people to apply. You'll never get anyone good like that. Get out there and find people to invite to the job. Every high quality writer I've ever found was invited to the job. I filter the people with the following:
- In the 'writing' category
- Must have been active in the last 2 weeks
- Choose native English speaking countries
- Must have a rate less than $10/hour

Then, scan through the list and find people who're passionate about writing. Don't go for the ones who claim to be experienced, fulltime writers with SEO experience. They tend to write very formulaic articles that lack passion and personality. Go for the people who have a passion for writing. You'll get FAR better articles out of them and they're more than happy to work for less.

Interestingly, these writers are usually the ones with less experience so don't be afraid to hire inexperienced people. Most of the staff I hire have less than 20 hours experience on oDesk. You can get much better quality for far less this way.

Once they're really experienced, they tend to push their rates up and don't work as hard.

I typically invite around 50 people to apply.

3. When the applications come in, do a Skype interview. If you have a personal connection with them and they like you, it means they're more likely to do better work for you.

4. Choose at least 6 to test. Get them to write test articles for you. Typically, 50% won't complete the test article so you'll have at least 3 to choose from. If they're all good, hire them. If none are, go back and invite more people to apply. That way you won't be stuck waiting for someone to reply.

I've hired plenty of writers in my time and this has worked well for me.

Hope that helps mate.

Thanks!

I'm not sure how to see the total traffic I've gotten today in Analytics (it only shows yesterday's as the latest, except in real time?) but it's all from le Reddit and Google News.

When I made my post on Elance, I explained that the pay would be $0.01. I got 40-ish proposals, and out of all of them, only one guy was super promising. He was actually familiar with the topic, and he was a native English speaker which helps a bit, I guess. Like you said, he wasn't one of those writers with tons of experience and reputation points. Those guys seem to just be good at writing up filler garbage, and their grammar is still pretty bad for the rates they charge.

I was talking to him on Skype a few days ago and he said he would be able to start the next day, but he stopped going online so I have no idea what's up with that. I guess I'll try inviting some writers and posting on other freelancing sites too.

Do you think $0.01/word is too low to pay writers though?
 
Click on the date range in the top-right and select today's date.

Thanks!

Here's traffic since I first started, along with the number of news articles posted per day.

l69UX8M.jpg


Today was my best day in terms of traffic, but I know I could be doing a lot better. I just gotta figure out how to stop visitors from reading 1 article and disappearing forever.