If I was to create a Website and i had very bad debts how could i make money quick with websites?

Question

- I have large debts that has to be paid within the next 12 months. I have no job, so would it be possible for me to make money quick via websites?

- On average how long could it take for me to make some money on an internet site?

Answer 1

A great cry for "I need financial freedom" with one massive omission! No numbers. You will never find financial freedom without numbers, so let me make some up for you. I am going to guess the debt is $25,000. I'm also concerned that you need money to live, but it is your life, so you will have to sort that out.

When I created websites for a hobby, I earned around $12,500 in a year, less some expenses, so say around $10,000. This is OK as a hobby, but as a business, it doesn't cover overheads. However it does prove that revenue is achievable, and analysis of traffic tells you if it is scaleable up to a full time business. Obviously, as a hobby, I didn't keep time records. Some months, specially winter I may have done 10 or more hours a week. Summer, a lot less. So, if you have no job, you have plenty of time to make $25,000 and clear your debt.

But this doesn't even scratch the surface on the real numbers you need to put together. One of the goals of this Freedly project is to create much better numbers for budding website owners. More than that, it is an easy chance to test the waters, as all contributors will get a chance to earn rewards from the pages they write. In future, I will be able to say exactly how much you can expect to make by contributing to a Freedly website. You should be able to make more with your own website, but a lot depends on which market you are targetting, and how good you are compared to the competition. Also, on your own, it will take longer to get established, which leads me to...

... the second part of the question, how long will it take, where the answer is even more vague. In my website planning articles at shrewdies, I describe some ways to assess the market, but you never really know how long it will take until you actually do it. Generally, you get faster returns if you have something to sell, but advertising revenue is more reliable in some markets. Easiest is a mixture of several non-competing revenue sources. I reckon that you can see if a project is worth doing within three months, and you should start making minimum wage in about six months, but actual figures can be much worse, or much better.

You might wonder why anyone would want to work 6 months just to start earning minimum wage. It is because, in those six months, you create money earning content that will keep earning for months, or even years. You will not get rich quick, but you will have an asset that you can sell if you want to move on, or improve if you want to move your earnings to the next level. It will not be right for everyone, but if it matches your idea of financial freedom, it is a surefire winner.

Comments

That is great thank you i will look in to a job and at the same time running a small website, this has been a great help to me so thank you very much!!!

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Good luck with the job hunting and the website. If you need any specific help with either of those, I hope there will be something useful on Freedly for you. If my answers have been useful, please vote them up.