With P2P investing off the table as one of my extra income ideas, I got right back on the horse and turned my attention towards a new type of side project: Building a niche website.
For those of you who are not familiar with what a niche site is, it’s generally a smaller type of website that focuses on a very specific topic. If its full of good content, then they can be of great value to readers who are interested in that subject. Chances are that you’ve probably typed a very detailed search term into Google and one of the first results that you’ve clicked on was a niche site that someone created.
A niche site is different from a blog. Blogs are generally a little looser in their topics and are usually more focused on building a community of followers. If I want to post something about my day at work or the great deal I got on something I bought, a blog is appropriate place to do that. In contrast, a niche site is more informational in nature and not as concerned about the community aspect. The site might only be 10 – 100 pages, each targeting a keyword that ties back into the central them of the site. In some cases, the owners may have dozens of niche sites about various topics, so personal interaction with each one is not really practical.
Why Bother With Building a Niche Website? What’s In It for Me?
If you’re asking yourself why anyone would want to screw around with building a niche, then let me invite you to read the following:
1. Pat Flynn from Smart Passive Income made $3707.17 in January from his Security Guard Training HQ site.
2. Spencer Haws of Niche Pursuits was on a roll to collect $500 per month from one of his niche sites.
(It is worth noting that almost all of the income reported in those two examples above was made from using Google Adsense. Yes, Google Adsense – those spammy little ads that all the ultra-cool bloggers like to bash on.)
So to get back to the question “what’s in it for me?” Mainly the opportunity for passive income!
While my blog has become a great source of side money, it does require a great deal of time and involvement. My fear is that if I got the idea to run TWO blogs and potentially double my income, that would mean TWICE as much time. It’s not that I don’t love you my readers, but that is way too much time commitment.
In contrast, the model for a niche site is about as passive as it gets. Consider the following points:
• Content does not need to get updated regularly. A new post every 1 to 2 weeks seems to be okay.
• The primary income model is based completely off of clicks on your Google Adsense ads, affiliate ads, or other self-made products ( .. but on that last one, let’s not get too ahead of ourselves ..)
• Traffic is almost all organic and based on the keywords you select. Unlike a blog, there’s no time spent commenting on other blogs or anything like that.
• Ten or more pages of good content is sufficient. You could then move on to create another site if you wish.
The key of course, like any website, is how effective you are in making it friendly to Google and the other search engines. That means really knowing your stuff when it comes to keyword research, SEO, content writing, and back linking.
Lowest Risk of My Extra Income Ideas:
The other main thing I like about this project is that unlike purchasing real estate or stocks, there is really nothing to lose. Consider how low risk of a project this is:
• My web host iPage lets me host as many domains as I want under my current service. So the minimum cost is just the $15 fee to register for the domain.
• If I get caught up in real life or work and I need to ignore the project for a while, I’ll be okay.
• If it flat out doesn’t do as well as I hoped or just plain fails to rank, I could always just abandon it and be out the $15. The other option would be to sell it on Flippa. As long as I net more than $15, I’d be right back to where I started (minus the time spent working on the site).
Sounds Good. So When Do I Get To See This Niche Site?
I’ve got a confession for you – my niche site is already up and running!
Next week I’ll reveal it and talk further about my plans to develop the site further. Hint – If you follow any of the blog carnivals, chances are you’ve already stumbled across it.
Readers – What are your new extra income ideas? Has anyone else been thinking about expanding their digital portfolio and starting a niche website?
Image courtesy of phanlop88 / FreeDigitalPhotos.net