If you have looked into blogging, you may be surprised to see that some writers have been able to monetise their blogs, using it to subsidise their current income, or as a means of working from home. These individuals have looked into the best ways to turn their passion into a money maker. While you may not necessarily earn a fortune doing so, it can be nice to see your hobby give something back to you.
When you get to this stage, it is important that you find ways of managing this income to ensure that you don’t miss out on any payments, and that you also remain legally compliant with your income tax.
Sending invoices to clients who have used your blog as a means of advertising their product is important, both to ensure that you get paid, and to allow you to keep a record of payments made. Software you can find on freshbooks.com will allow you to send out personalised and professional looking invoices. This can also allow for automation for those clients who have regular postings on your blog.
It isn’t just clients who you may need to invoice. As your blog grows in readership, it can become a good platform for other writers to use to broaden their own readership. Allowing lesser known writers to pay to write a guest article on your website can be a great way to network and gain extra content, while making some money. Again, you will need to be able to invoice the writer, to ensure that both sides of the agreement have been met.
Once you have collected the money from any services you have provided on your blog, you should keep this information secure, so that you can assess your income correctly. This can help you when it comes to sending a tax return, to ensure you don’t pay too much or too little tax. Properly accounting for your money can also help you see what is generating the most income, and where you may need to make improvements.
Look for More Opportunities
Just because you have some income from your blog, that does not mean you can stop trying. There may be more ventures out there for you, or untapped leads. These can further increase your income, as well as your overall readership. Joining network events, both in person and online, as well as producing more relevant and regular content, can help you to grow your blog. This growth means that, even if you lose one form of client base or income generator, you can still resume your services with others you seek out.
Blogging is a continuous journey. As your website grows, and you entice more readers, you may find yourself more open to opportunities that can help you boost your income. For some, this can result in being able to leave your day job and focus more on your writing. For others, it can provide a top up of income.