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A journey to create $100/day long term income

Discussion in 'My Journey Discussions' started by elementis0, Jun 21, 2016.

  1. elementis0

    elementis0 Newbie

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    Hello BHW crew!

    Just got my B.S. in Computer Science about a week before this post and decided that I do not want to stay in industry. I have some experience in IM but have never tried to use it solely to start a business for passive income. You can read everything you want http://www.blackhatworld.com/seo/programmer-happy-to-be-starting-journey-on-bhw.852217/.

    My goal is in two years to reliably generate $100/day and quit my day job as a Software Engineer in order to free up more time to create software I care about, or software that could benefit my IM journey (and possibly yours).

    Essentially, what will evolve on this thread is the journey of a person documenting his entire learning process, evolving goals and milestones in the world of IM.

    The methods I will use to generate this income are not yet well defined. I strongly encourage suggestions on what you BHWers think I should try out to start generating a stream of $100/day passive income with no more than 20hrs maintenance a week.

    To start I will spend on average 1-2 hours each day after work and around 8-16 hours each weekend.
    In total I will be spending anywhere between 13-26 hours per week on this.

    I will be posting my progress and what I have learned once every two weeks at least.

    That said here is my journey entry for week one.

    ..............................~* Week One*~..............................
    ----------------------- Picking a Niche -----------------------
    -----------------------------------------------------------------------

    Well after spending almost my entirety of last week reading about others journeys about how to make money, I have decided that my first step toward long term income is to pick a few niches that I think could be profitable. After I find these, the next step will be to try out different monetization methods within each niche until I find some I like that work for me and then will stick to them.
    Since I am new, I realize it will take a while until I will start seeing a dime.

    In order to choose a niche I will primarily use http://www.blackhatworld.com/seo/tutorial-how-to-find-profitable-niches-keywords.726066/ posted in 2014 by rabbit king along with random aggregations of advice I find snooping around the interwebs.
    Also saved myself $55/month on SemRush by sourcing my purchases to people who sell https://www.fiverr.com/search/gigs?utf8=%E2%9C%93&search_in=everywhere&source=top-bar&locale=en&query=semRush&page=1.

    Once I find 2-3 niches I think I could be competitive in, I will start considering how I will monetize.
    For monetizing I think I might start off on trying http://www.blackhatworld.com/seo/easy-100-a-day-perfect-for-noobs.359445/
    It seems many people have had success using this method, so I might as well give it a whack for a few months in a few different niches to see what I can do.
     
    • Thanks Thanks x 1
  2. BrosephStalin

    BrosephStalin Newbie

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    Smart decision on saving for SemRush, you can use it for other services later. Do you know what road you want to go down? Like an authority site, blog, social networking etc.... You could also make some sort of a bot here, or rounds of using it for others on fiverr.
     
  3. daica85

    daica85 Regular Member

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    Nice start...Good luck to you :)
     
  4. SEMWORLD

    SEMWORLD BANNED BANNED

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    Welcome buddy. It is a good move you have made. I am also a software engineer by proffession and i can say that being in this industry has helped me a lot. You are able to easily combine the skills you have been learning in making sure that internet marketing works in your favor. In fact, you will always save a lot of money which is usually spend on developing landing pages etc. Hope yo will have a good time, just stay focused.
     
  5. Gosocials

    Gosocials Jr. VIP Jr. VIP

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  6. Leeroy

    Leeroy Newbie

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    Good luck to you man. As I'm a beginner as well, I will be following your updates to get some insights for me as well ^_^
     
  7. SocialsBoost

    SocialsBoost Regular Member

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    Good luck with your journey
     
  8. JokerSEO

    JokerSEO Power Member

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    Nice read OP, best of luck on your journey.
     
  9. elementis0

    elementis0 Newbie

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    Thanks! I thought getting semrush on fiverr was awesome. Now I just need to learn how to interpret the definitions and purposes of the analytics data it provides.

    What do you mean by 'rounds of using it on fiverr' what botting goal(s) are you thinking of?

    I am not sure which route I want to go down for monetization yet. Though I'd think I'd like to focus on websites and if I do SMM use it more as a marketing funnel rather than monetization endpoint. Also not sure if I should start off with bots, depends on task. I want to go white hat without bots to build long term revenue. Once I have a solid, reliable base then I may start experimenting with more black hat esque strategies like botting. The most automated I might get is making a script to do automated deployment of html websites so I don't need to spend much time developing them if I decide to do something like a PBN (though a contrived PBN is too risky, I don't want google to de-index me, would hurt long term plans). So if I do PBN I might just invest in backlinks from authority sites.
    Though really when choosing monetization strategy I'm up for anything. I still need to study them more in depth though before I make any decisions, I don't know enough yet, will figure out after I finish this niche finding phase of learning curve. At this point being an Amazon affiliate for high priced items or doing some type of CPA or maybe building an authority site might be worth it. I'd be willing to invest around $200-$500 over next 4 months or so on quality content if I find a low competition, profitable niche. Even if I fail, I can learn faster that way and in that sense its worth it to me.

    Awesome! What accomplishments have you had in the world of IM with a Software Engineering background? What monetization strategies would you recommend with such a skill-set? I'd bet the skill-set must lower competitive barriers for you and I with some types of monetization strategies I may be unaware of.

    I think in long run once I get like some website to even just make $10 day (which can still be hard task for newbie), if I understand my manual processes well, SE skills will make scaling very cheap with less overall growing pains.

    Sounds great, we can learn together! If you have a journey link me to it. If we ever get curious about stuff we can PM each other.

    Thank all of you guys for the good karma! I'll put it to good use.


    Mini Update: This in not part of my official bi-monthly report though I'd still like to note my progress since I posted this thread. So far I have absorbed a bunch of information from different sources about finding a niche. I've identified a variety of tools & resources I will use to find a niche such as Google Keyword Planner, SEOMoz Ranking, SEMRush, DMOZ and ubersuggest. I have also creatively determined a high level process to finding a niche that I will spend this next week refining.

    The following is what I have so far conceived as my high level approach for determining a niche to target. Each of these steps will have a list of substeps once I complete the methodology I am trying to figure out:
    1. Find a large profitable niche
    2. Determine profitable micro niches from niche in (1)
    3. Do common sense check to see if niches from (2) may be worth entering
    4. Determine seed KWs for each micro niche
    5. Determine long tail KWs for each seed KW in each micro niche
    6. Assess likelihood of obtaining top 3 google spot for each seed and long tail KW from (2) and (3)
    7. Estimate revenue per traffic volume based on online buying behaviors

    I will post a link to a detailed newbies tutorial in my next bi-monthly report where I will highly encourage suggestions for refinement. Once refined I will start executing it to make final decisions on niches. I am taking a sort of analytical but still creative approach and the method I am researching will serve more as a guideline in the long run.

    This next week and a half will be me figuring out how to interpret and find purposes for relevant niche/KW analysis tools & resources along with doing a rough draft writeup of the niche finding methodology I will employ. All of my development and progress will be posted in the next bi-monthly report.

    In big picture of all this, I think finding niche and researching/choosing monetization strategies will take me a month or two. After that planning and execution will probably take another month or two and somewhere between third and fouth month I think I may be able to start capturing traffic then fourth of fifth month get revenue. But who knows, maybe I'll be way quicker about it. Though this estimation seems practical to me given I'm doing all this part time.

    I really appreciate all these responses, the feedback of this community will serve to be extremely valuable to me and I hope to pay it forward in the future.

    Talk to you guys later. :)
     
    Last edited: Jun 24, 2016
  10. elementis0

    elementis0 Newbie

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    ..............................~* Week Three *~..............................
    ----------------------- Picking a Niche --------------------------
    -------------------------------------------------------------------------
    *Note: I highly encourage feedback about my thought process/long term plans. If you give helpful advice I'll give you 'Thanks' pts :)

    It has been a while now that I have been learning about picking niches. Before I get into the meat of what I have done I'd first like to point out that I am a week late on this post. In my original post I promised myself I would post progress at least once every two weeks. Now I do have my own personal excuses such as being in the middle of a move, just getting acclimated to my new full-time engineering position etc... though deep down I know that is all BS. I also spent plenty of time playing video games and indulging in my girlfriend. I do not regret the indulging in my girlfriend part but the video games stopped me from making as much progress as I could have. Moving forward, I will make a commitment to regulate that time toward this IM investment. I will also change my progress report to being once every three weeks. More on that below.

    I will start being a bit more 'agile' about my approach to learning and executing my IM mission. By that I mean I will be adding more structure to my future progress reports. Instead of having it read only like a personal journal, I will write it like a retrospective. I.E. make a list of what I think were successes and opportunities for moving forward once every three weeks. I will then layout a series of tasks to complete the next coming two weeks almost like a 'sprint' and make sure to follow through with the opportunities for improvement I have listed for myself. Following this will be a short journal-like entry of the past two weeks. This will infuse my processes at work as a developer to how I will also work in my personal life. At work we end our sprint and retrospect once every three weeks, around this time I will also do that with this IM journey. I believe this routine may help me stay more on track. I'll try this for the next month or two and see how it goes.

    Now to the meat of what was accomplished these last 3 weeks:
    So far I have mostly still been absorbing information and learning about resources I can use. I also created a 3 page paper detailing a process of how I believe I should find a few evergreen niches and have become close to determining the monetizing strategy I want to start with.

    Information absorbed related to what I should look for when picking a niche and analyzing keywords. With my readings I have been taking notes. These notes are currently on a different computer than the one I am on right now. From memory I remember writing about the anatomy of a keyword/phrase, how to analyze my competitions back-links and what insight to gain from it, types of sanity/common sense checks I may want to do before determining if a niche is right for me, PBNS and their risks, etc...

    I compiled all of this knowledge down into a 3 page tutorial in a word document that outlines a process I will be evolving to picking a niche. Parts of me had dreams of automating it in the future, though for now, I will keep that as a dream. Not enough time in the day and more urgent/important tasks at hand. The tutorial outlines the general process of how to choose an evergreen niche for a person who is starting off with fresh content and does not wish to invest much money for things like aged domains or tons of content. Once I have finished writing down my niche picking process and have used it a little bit I will make a thread on BHW to see if it might be useful for others and also get feedback to improve it.

    I believe I have also discovered the monetizing strategy I want to start with as it seems perfect for a beginner and is close to what I am looking to get good at in the long run. I am going to start with an Amazon Affiliate Marketing campaign or two. I have seen a lot of people start journeys about this, think it is a solid way to create a sustainable website in the right niche as amazon is not going anywhere anytime soon and they will always need people to help them sell. A downside is due to the nature of the product-consumer value chain, being an affiliate will give small commissions. Though I think if I can get good at this, then in the future I can move up a bit more in the chain and start drop-shipping, which could give better margins with the right wholesaler.

    Learning about Amazon Affiliate marketing will mostly be in my next phase after I have picked/filtered down to around 3-5 niches, though it will also be part of this phase as well since picking a niche will largely be determined by what I also think I can sell on Amazon.

    I also found people experience in Amazon Affiliate marketing that are selling pre-made converter sites. I think buying one of these and building on it as a side project might help in my own discovery. I am still considering it.

    My objectives for the next three weeks:
    1. Tailor niche picking process for Amazon Affiliate Marketing
    1a. Find 2 or 3 solid sources outlining finding a good niche for amazon
    1b. Study sources from (1a) and incorporate them into my notes/personal tutorial writeup
    1c. Apply process to a few random niches and collect feedback about my research results from BHW
    1d. Tailor process based on feedback and if needed do (1c) again.
    2. Compile List of 30-50 prospective broad niches
    3. Filter list from (2) into about 10-15 prospective sub-niches
    4. From 10-15 sub-niches dig a bit deeper to find 3-5 high potential niches

    Estimated Timeline:
    Week 3:
    - Mostly Finish objective 1. Might bleed a little bit into week 4
    - Mostly Finish Objective 2. Might bleed a little bit into week 4
    Week 4:
    - Finish objective 1, 2
    - Finish objective 3
    Week 5:
    - Finish objective 4

    On a side, part of me thinks I may be getting a bit into analysis paralysis and some people may think I should just dive in. Though I think all of this front-loading will have long term payoff. On the other hand, I would love to be convinced otherwise ^_^
     
    Last edited: Jul 13, 2016
  11. elementis0

    elementis0 Newbie

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    ..............................~* Week Six *~......................................
    ----------------------- Picking a Niche -------------------------------
    ------------------------------------------------------------------------------

    I am now in the beginning of another new sprint for this journey. I have been slowly but surely chipping away at my tasks.
    When looking at the previous tasks, I found that in practice what I ended up doing was different than what I had planned. These last three weeks I ended up being more organic about niche picking. I went with a flow of what made sense to me. My first 3 weeks I found I was too methodical, too obsessed about trying to get every single little detail perfect before I started. For anybody getting into this, I advise not to be so methodical. More can be learned from absorbing information from these forums and just going for what makes sense to do. I will execute faster if I do things that way.

    I had a 3 page long analysis of what I believe it took to pick the right niche. Writing all of these notes really did help widen the breadth and depth of my understanding of what I need to succeed in the world of Internet Marketing and without doing so I would not have been as informed when choosing a niche. If I were to redo my first three weeks, I would have been less process driven about niche picking and more holistic about studying how people make money from Amazon Affiliate Marketing in general. My second three weeks were slow due to the fact I just moved to a new place and other personal life things.

    Also I would like to mention:
    The most helpful thing for me when choosing niches as an Amazon Affiliate was to look at the best sellers

    I did roughly end up doing what I told myself I would do in my last progress report and spent a total of around what felt like 20 hours these past 3 weeks combined doing it.
    I have also decided that when starting out, I will not invest money into content writing. I am going to do this myself for my first 2 or 3 websites and then start outsourcing once I know what I'm doing.

    Would also just like to say a cool thing happened to me this week: Got an opportunity to possibly get hired with Sony Playstation as a Software Engineer :) We will see where that goes...

    This is what I accomplished:
    o Finished note taking/studying/absorbing information about picking a niche
    o Acquired some proficiency in SemRush, enough to analyze keywords, brainstorm more niches and assess how I can win against my competition
    o Made list of 20 niches and filtered that list down to 3 niches that I think I have the potential to succeed in

    What to do for the next three weeks:
    o Deep analysis of the final 3 niches I want to compete in. Based on this I will choose my niche (Week One)
    o Setup Domain, Hosting, Keyword Profiles, General marketing strategy to beat competition (Week Two & Three)
    o Researching & Writing Content For My Website (Week Two & Three)

    Opportunities for Improvement:
    o Track all hours I am spending on this. - Will help me find when I am spending too much or too little time in this venture
    o Less time studying, more time taking action - Sometimes I get caught up in just reading on BHW when I should be building upon my IM project

    Overall, with what I've done these 6 weeks, I feel proud of what I have accomplished with my extra time after having been graduated from college for just a month and some change.
     
    Last edited: Aug 3, 2016
  12. BillTomy

    BillTomy Jr. VIP Jr. VIP

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  13. znipe

    znipe Junior Member

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    lmao you spent 6weeks trying to find a niche?
     
  14. Shqipenet

    Shqipenet Jr. VIP Jr. VIP

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    good luck mate
     
  15. elementis0

    elementis0 Newbie

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    Thanks guys, appreciate the good vibes! :D
    The title is a bit misleading, a large part of it was also studying IM in general. It may have been more apt for me to give the title 'Getting Started' rather than just picking a niche as much more was done than just that. Also keep in mind this is a side project, I have many other things going on in my life. Please read the posts and be more constructive if you are going to be negative, it seems disrespectful otherwise.

    ..................................~* Week Nine *~..................................
    ---- Content Writing, Marketing Plan, Niche Research ----
    --------------------------------------------------------------------------------

    This past sprint I performed discovery on the product I will be promoting. I identified my competitors and got an idea of their strengths and weaknesses, all of the products I will be able to sell, what is important to potential buyers about those products. I made an excel sheet of about 65 products in the niche and identified the specifications for 12 of them. I took about an hour to research each product, as they have a lot of aspects to them and information is not always easy to find. I will be reviewing them based on around 8-10 dimensions. I also made a roadmap of everything I need to do before launch. Things like how each product post will be formatted, the structure of my 'best products' guides etc.. were outlined. I will launch with about 21 pages of content totaling around 22k words.

    The content I am launching with is as follows:
    • 1 buyers guide
    • 3 ‘best’ articles
    • 4 high end product posts
    • 4 middle of the market product posts
    • 4 low end product posts
    • 2 General Advice Articles
    • Contact Us Page
    • About Us Page
    • Disclaimer Page
    I will expand this to cover around 65 products total, I will be launching with reviews of 12 of these 65. To keep quality high and learn as much as I can with this project I will be writing and researching everything myself.

    When looking back at my last 3 weeks, I found that I did not improve on tracking my hours. Tracking hours is too much of a buzzkill. I did improve on spending more time taking action.

    So all in all....

    What was accomplished:
    o Became proficient in understanding the products for my niche
    o Created content plan for site launch
    o Identified specifications for 12 of the products I will be posting about

    What to do for next 3 weeks:
    o Write all of my product articles
    o Continue researching content for product articles

    Opportunities for improvement:
    o I am finding it difficult to invest as much time as I'd like to on this. I have been averaging around 6-10 hours a week rather than the 13-26 hours I aimed for. Need to either get more efficient (which is hard since I am still on a learning curve) or cut out other activities that I enjoy but stop me from progress on this. Now that my life is settling down a bit more I think I might find more time to focus on this going forward.
    o To help keep me on track, this next 3 weeks I will make a post of my progress each day I make some.
     
    Last edited: Aug 24, 2016
  16. wojteq171

    wojteq171 Junior Member

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    I read this journey :)
     
  17. IamAlu

    IamAlu Newbie

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    I will follow this Jurney as well.
    Im about to do something similar to your plans, also aiming for around 100 a day in a 2-3 years of learning and doing period.
    Pretty glad, we seem to have a similar education and knowledge background, so i hope to learn alot from your expperiences :)
    Keep up the good work and dont give up!
     
  18. elementis0

    elementis0 Newbie

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    Thanks, it makes me happy to know that I may be creating something of value for people

    Its always great to be around others with similar histories. I hope you and others can learn from what I'm trying out. If you have a journey let me know, I'd enjoy learning from your experiences as well. Definitely not going to give up, I really want to be successful with this. Thanks for your encouragement! :)

    So as said in my last entry, these next 3 weeks I will be posting progress every time I make some. I think it will help keep my motivation up when doing this. I will be able to provide more information to others about what I am learning & doing. This practice will also provide me with a detailed history to reflect on that I think will help me improve on weak parts of my IM strategy in the future.

    Today when I got home from work I planned on writing just one product article in about an hour. This turned into spending 4 hours on my laptop doing a few things.

    I plan on having videos on my product pages so I checked into some youtube laws about taking other peoples videos and putting it on my own YT channel.
    Found that this is legal if modify the video in some way.
    So.... this means I will incorporate some youtube marketing in my amazon associates journey. I will be taking videos of other ppls reviews, branding it for myself and posting it on youtube with a link to amazon and use it on my review website.

    I was also interested in obtaining photos from Amazon. So I checked out their API's to see what I can do with it. For anybody who can program or has time to learn with online tutorials I recommend using Amazon's Product Advertising API (http://docs.aws.amazon.com/AWSECommerceService/latest/DG/ProgrammingGuide.html) It allows you to access product pictures and even has shopping cart functionality. Made me wonder if its fair game for me to let users shop on my site, but we will see, I dont think it is.

    Also after reading their Amazon Associates rules (yes, I read part of the dry as hell legal text, thats how much I want to suceed), I found that counter to what ppl generally say on these forums, YOU CAN SHOW PRICE on the website. The associate just needs access to their 'data feed' by permission only and has to put the date that the price is associated with along with a disclaimer that prices can change. Might be able to work this to my advantage.

    Spent a while doing that and also created a [email protected] email account and got a google account going to start my youtube channel.

    After that I FINALLY started to write my product article.
    It ended up being around 550 words, but man it felt like a lot more than that when writing it. I am really focusing on pushing quality content. I think being a native english speaker may help me, as some of my competitor sites that are doing well don't have great english on them.

    Anyways its 9pm now, Ima go hit up a friend, get some weed to blaze with tomorrow and hit up my girlfriend and chill in a jacuzzi, Im fuckin' donions.
    Peace out internet.
     
    Last edited: Aug 25, 2016
  19. PureHustle

    PureHustle Regular Member

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    good luck on your journey mate! you seem like a logical person. I have no doubt you'll find the success you're chasing!
     
  20. MrFoxyFox

    MrFoxyFox Regular Member

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    good luck man, will definitely be following.