Project 500 – Testing the Theory
By the end of 2009 I predict that I’ll be earning (at least) ?500 per month online, working from home (or anywhere I want).
?500 may not seem much (or it may seem a lot), but this figure isn’t plucked from thin air, read on to find out why ?500 and how to find your target.
In my recent post ‘The Future of Work For Mums‘ I pondered the idea that multiple income streams were the future. In 2009 I plan to test the theory. Where possible I will shy away from the ‘pay per hour’ model to the ‘pay per product’, ‘pay per click’, or ‘pay per view’ models.
Which means I’ll be paid commission on a sale, for a click on an advertisement or for a view of my article/post.
What do I want?
In 2009 I’m going to focus on what I want rather than what job I want. So, what do I want?
I want to be able to look after my daughter, dropping her off to nursery and picking her up.
I want to do my next Open University course ‘An Introduction to Business Studies’?
I want time to sort my garden and make my home more homely.
I don’t want to commit a lot of time trading hours for money, in fact, ideally I would like to only do this occasionally and for social reasons rather than money.
I want to spend time on my blog and working on ideas.
What do I need?
Money wise I need to earn ?300-?500 per month. At the moment this is made up by trading hours for money. 50 – 80 hours per month.
The Plan
Over the next twelve months I will see if it’s possible to earn the money I need from multiple income streams. My main focus will be providing value in anything I do. I will test some of the following but my plan isn’t really to plaster my blog in ads that nobody’s interested in, and to be honest, if that’s the only thing that works then I’ll fail and we’ll all know better. Some of the things I may try, if the opportunities arise;
Freelance Writing
Affiliate Marketing
Pay per click Advertising
Home based Sales
Banner Ads
Product Reviews
Project 500 won’t become the focus of my blog, it’s more a resolution to myself. An ‘is it possible’? question that I need to answer before I move on and get a ‘proper job’. I want to share what I learn because it’s nice to share, plus I think there is a multiple income stream model that could work.
Conclusion
?500 per month frees up all my time to focus on anything I like. In 2009 those things are above. In 2010 I could grow that to ?1000, meaning in 2011 I could spend my days at university/exercising/cooking/playing poker or anythingelse that takes my fancy. Fantasy land? Maybe. I guess we’ll find out.
I’ll be sharing some ideas via the newsletter. You get automatic entry to prize draws if you sign up.
[...] affiliate marketing comes in. If that product have affiliate option available, then why not embed Project 500 – Testing the Theory – littlemummy.com 12/18/2008 By the end of 2009 I predict that I?ll be earning (at least) ?500 [...]
[...] Over at LittleMummy Erica has been using A Guide to Promoting Your Business to help her work out her Unique Selling Points as a Mummy Blogger. If you want to make a living from blogging you’ll be interested in following Erica’s progress this year as she aims to make ?500 a month. [...]
[...] that targets are important, hey, if they weren’t then no company would have them.? So I set my target for this year at ?500, and to be honest depending on how things go this could be a relatively low target (or it could be [...]
[...] from home. I didn’t have a plan, I still don’t really, but shortly after I wrote about my idea an opportunity came up to work from home managing and optimizing an email list for an online [...]
[...] What’s Project 500? [...]
[...] I fancied something portable that I could take out and do some blogging or work on my project. A notebook offers that, my notebook isn’t much bigger than the last Harry Potter and it [...]