Discussion in 'General Business and Entrepreneurship' started by K, Nov 21, 2014.
So thought id give everyone the chance to ask me about forums and how i make money with them etc
I would love to see structural layouts, maintenance schedules and results, P&L ratios, traffic (or revenue) sources breakdowns and initiatives, and monthly performance reports for a year. I know this isn't realistic for you to reveal, just my Santa List. This is how I got the "big reveal" in the days I was doing start-ups for others.
First I would ask you today, what was the original 1st year investment and how long did it take for returns in the black. In addition, how may individuals did it require to get to positive ROI.
In all honesty i've owned about 10 forums in the past 10 years.
My very first was a hip hop related forum and I made $0 money from most of them.
The very first forum I made money from was manlystuff.com which took me a good year or so to make any money from.
Forums require ALOT of commitment and dedication to make work.
I'd advise anyone getting into them to get into "rich and profitable" niches i.e ones where there's going to be a competitive edge for banner space/referral programs etc!
It takes time for sure.
With CPAFix it took me about a year to get my first advertiser on board.
I built a couple of forums in early 2001 and I understand now where I went sideways with them. They did require a lot of attention. My head never gets discouraged by the amount of work it requires to get something working, as long as I have an encouragement from data that demonstrates there can be a profitable and sustainable outcome. I missed the boat from trying to to do several at the same time while I had other projects on the board and didn't outsource where needed. In addition, I didn't have enough relevant background and experience in the spaces. I did learn a lot.
This is true with most everything online and off. There is a reason there are so many are pounding the dollars in those spaces, however, I have found a couple of small niches that have succumb to my advances. I invested over a year on two very small niches that I have been able to dominate now for over 6 months and I am not letting go of the lead I have on others in these two spaces. As you have said, it's a lot of work. They aren't forums though, they are continuity sites. I'm running them on WP with S2Member, but looking to possibly move them to a more advanced platform in 2015.
I have never found a magic "money printing" idea, product, or niche that didn't require a great deal of research, planning, and investment of time. Even in the CPA world one truly has to make a reasonable investment of time and money to get oneself to a sustainable ROI that can perpetuate and grow the business in 6 months to a year.
Care to share your thoughts on advertisers and the portions or ratios of income from advertisers vs. Dojo income?
Advertisers come and go because there's always a new network looking to make some quick money and "BUY ALL YOUR SPOTS MAN".
I've learnt to stay way away from these type of guys. I often turn people down and only now work with a select few advertisers because i'd rather optimise the spots myself sometimes when needed.
The Dojo is a constant income but its also constant work, i've spent lots on the custom design, layout, landers, content etc but it makes a steady profit.
I could get greedy and make it recurring but thats not why I created it.
I'm here to build long term clients and long term businesses and keep my reputation in tact. (I hope)!
Whats the best forum software?
100% XenForo, but I personally customise mine very intensely.
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