This weeks interview is with Mike of The Financial Blogger. Enjoy
1) What originally gave you the idea to start internet business and how long have you building it out for? I’ve started The Financial Blogger (TFB) back in November 2006. It was a side project because I wanted to prove my best friend (and partner in this business) that I could hold a blog and make it grow before we create our internet business. My partner runs websites since the 90’s. He was my inspiration and he is the one who gave me the idea. The funny part is that he didn’t like much the idea of having a financial blog
. “The Financial Blogger”? what’s that all about? He ask me when I first throw the name of the site. Today, all our best income earners are financial related websites and TFB is our strongest “brand”.
2) How many hours a week do you spend on your internet business? I’m known to have a very costly business model as I have several writers and 2 virtual assistants. On the other side, this allow me to run my business with roughly ten hours a week J. I outsource a lot of tasks in order to spend more time with my family.
3) Ideas are often so hard to implement – tells us a bit about how you started and what were your first steps in creating your site/sites. For 2 years, I was blogging on TFB without any direction. I was writing what I felt like without really knowing where I was going with this. Things have changed a lot since then! We now meet once a year to establish our big projects. Then, we setup quarterly objectives and spend about an hour per quarter together to tell each other what went well and what went wrong. The fact that you have to “report” to your partner makes you work a lot harder!
4) What is the main source of income for your internet business? Adsense is definitely my main source of income. We also run several affiliate programs. Together, Adsense and affiliate programs now represent over 60% of our revenues.
5) What other things besides blogging do you do to build your audience and customer base? The most important thing we have done 2 years ago was to start a newsletter
. This has helped us surviving Google’s Panda and Penguins update since we have create solid bounds with our readers through our newsletter. 6) What do you think are the biggest challenges of marketing your business?
The hardest and biggest challenge is to evolve in a constantly evolving business. As a website owner, you depend greatly on search engine traffic. On the other side, you have no control over the parameters used to rank or derank your articles. This is why you always have to adjust and make sure you convert your new visitors into loyal readers! 7) What has been your main difficulty or barrier in running your business to date?
Lack of time! Sometimes I wish I could do this full time to see where I could bring this business. Unfortunately (or fortunately!), I have a great day job that I don’t want to quit. Since my family is more important than anything else, I’m left with ten hours a week to spend on my sites! 8)What forums do you follow/participate it?
I’m not too big on forums but I do participate in the Yakezie group. It’s a great group of young bloggers and I find it interesting to help them and chat once in awhile J.
9) What do you feel is/are the biggest mistakes you have made this far? My biggest mistake was to not start a newsletter at the very beginning. We only started to work on it back in 2011 and we now appreciate all the potential related to newsletter.
10) What are your plans for growing your business into the next 3-5 years? We will launch different products and use our main blogs
for promotion. We will probably by more blogs in the meantime ;-)