18 Buckets of Money: Web-Sights
For many people, once they launch a website, they do so thinking that “Ok, now the money will just come rolling in.” Depending upon the business, they may just do very well. But, having spent the best part of the last 20 years working with websites, I can tell you that more often than not, it takes a bit of time. Unfortunately, for many businesses (web or otherwise) the number one reason for failure is under-capitalization. Thus, making money right off the bat serves the long term vision of the business best of all. Because I wanted my customers to do well (and therefore be able to pay their bill), I looked for ways to create alternative revenue streams, while the core business would grow in the time they needed. Over a period of time, I was able to discover eighteen of what became known as the “Buckets of Money”. This is column five in an eighteen column series… so with that said, on with the show.
A couple of columns ago, while in the discussion of Subscriptions, we brushed against the concept of the Micro-Site. These are a collection of pages inside of your website, dedicated to another entity. We discussed how you could offer to your audience the ability to subscribe to one or more of these micro-sites. Now we will discuss why these Micro-Sites are actually also another bucket!
First off, let us recognize that what we are really talking about is extending an education. At this point in the process you will no doubt have started to gather some attention and likely even some questions. Such as “How are you doing all this?”. As such, you have been afforded an opportunity to help others, and profit from that education you will be sharing. From that perspective, then:
- Full Website – As you have people approach you as we just discussed, you can (and should) offer your assistance, for a fee!
- CMS – A CMS, which stands for “Content Management System” allows for a page or set of pages to be rapidly developed with some structure in place so that the user does not need to know how to create HTML web pages. If you know WordPress then you know CMS. You can integrate a CMS to provide these micro-sites. The advantage to using the CMS is it provides a very advanced set of tools for people to customize their pages, without giving up the ability to maintain some control.
- Reselling – Give strong consideration to setting up a relationship with another provider who handles everything for you once the sale has been made. You might look into a commissioned type arrangement.
- Administration Services – This is an environment where you can offer to provide a website structure (perhaps with a CMS or another company providing the service via a reselling arrangement) and THEN you offer to take care of the back end or administrative piece. The advantage obviously here is that you get paid at the front end, and now also at the other as well!
Use these steps to build an overflowing bucket of money… all from being a bit more in the know!
Stay tuned, the next time we are together, we will get to a look into Product Merchandising!