Annual Review Part 1: Earnings Report, Year One

Early happy birthday to Peter Morrow’s Online Money! It has been a year of learning, patience, excitement, failure, and to some extent, success.

When I began this blog on July 12, 2008, I will have to admit that I saw it as a means. In fact, I can’t really tell you why I started it on this vast niche which is making money online. I think it was because that’s what I wanted to do with my time, and make it a hobby of mine.

In year one, I didn’t achieve financial success. I’ll explain in this article why I think that is, and what I’m going to do to change that.

First, I will show you how my earnings looked this year:

On average, I made $ 11.47 a month, and in total, I made $ 150. What a nice, round number.

Yes, the earnings are grudgingly trending upward, but let’s look at my projected earnings for the next two years:

After three years of blogging, I would be earning 50 dollars a month only. Is it worth the commitment?

Not at that rate. Not with that little to show for.

First, I will break down why I think I couldn’t kick-start my earnings:

1. I didn’t know a whole lot about my blog topic when I began, and couldn’t provide knowledgeable information on a regular basis.
2. I didn’t care enough about my blog topic.
3. I didn’t post enough.
4. I didn’t invest any money into marketing the blog.
5. I wasn’t confident enough about my skills or brand image.
6. My technological skills were, and are suspect at best.

So how can I steer this ship in the right direction?

Well, this post should help me reflect upon the year as a whole, and it’s already helping me decide what I want to do.

The first step will be a fresh start. I am going to learn Wordpress and then make the transition away from Blogspot, eventually. I would appreciate any help from fellow bloggers who know how I can maybe transfer my blog over. Blogspot was a good way to get started but it doesn’t cut it, and I expect more at this stage.

What’s the next move for me?

It continues in Part Two, which will be posted in a few days from now.

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