The answer is YES, resoundingly yes, there is plenty of room for new bloggers to make money. (Not to mention that just because there are “millions of blogs” doesn’t mean there are millions of successful blogs. People who won’t invest the time, money and effort it requires are included in that “millions” as well. Remember, blogging for profit is work!)
How qualified are you? Good blogs convey a sense of familiarity and ease with the material. Excellent blogs usually have bloggers who are personally qualified to talk about their topics. If you can’t think of at least 25 separate posts off the top of your head about your topic, you may not have enough familiarity with the topic to keep your content going.
Your newsletter is all yours. Unlike social media sites, your newsletter and email subscribers are all yours, and you have their undivided attention. You don't have to worry about algorithms not displaying your content to readers, and this is because they are your email subscribers. You aren't fighting with anyone else to have them see your content.
The time you invest to make any significant amount of money is the same amount of time it takes to build a course or other offerings. If you want to make good money with ads (in the thousands), then you need to get 100s of thousands or millions of pageviews a month. This takes time and in that time you could just as easily build up your mailing list, create an infoproduct and make thousands whenever you want.
Everyone who’s everyone wants to start a blog that makes money. They’ve been lured in by the stories of the world’s most popular bloggers that are generating tens of thousands to hundreds of thousands of dollars per month on autopilot. However, like any other goal in life, starting a successful blog that actually makes a respectable amount of income is no easy feat.
I have actually put all my plans and projects on hold for about a week to focus on reading your blog and that of a few others such as Serena Star-Leonards’ ‘Retire Young’ and Darrens’ ProBlogger. Figured the old adage holds true, if you always do what you have always done you will always get what you’ve always got (other than when the effective means of delivery changes anyway =P ) But as blogs and passive income are where I have constantly struggled I figured it was high time I learnt some new stuff as the old stuff clearly wasn’t working out.
I worked 50 hours per week but needed to make extra income to make ends meet and a friend of mine was buying stuff from China and selling it at markets and managed to give up his full time job, i couldn’t afford to buy lots of stock and came across dropshipping, Its very daunting to begin with and there are many people doing it but I came across a dropshipping wholesale directory that helped me find products and offered lots of help, Im not making mega money at the moment but I was able to give up my full time job and take something part time so I have more time to spend with the family and im still making double what I previously was. My goal in the future (end of the year hopefully ) is to only be focussing on my own business, I might get there quicker once I follow your other suggestions.
Answer questions people interested in your niche are already asking. I sometimes check out the most popular questions about personal development on huge sites like Reddit and Quora. They can often give you a good idea of what questions people are really interested in finding answers for. And so you’ll find some really good topics for your next posts or podcasts.
If you want a more concrete answer than that, we’ve found it takes even our smartest, most dedicated students 3-6 years to make enough money from blogging to quit their jobs. And that sounds like a long time, but so what? 3-6 years to be able to work from anywhere in the world, take a vacation whenever you want, and probably have passive income until the day you die?
This obviously isn't a book on SEO techniques, but I totally disagree with the author that SEO is an "old school" way of generating traffic. The bulk of my traffic has always come from search engines and, while social media is changing how we use the internet, I don't think enough emphasis can be put on the importance of search engines as a source of traffic for most blogs.