At the beginning of the year, I made some resolutions which included building wealth from the internet and from the ground up. I have been online making money with different business models but not in a conscious way of using it to build wealth from the scratch.
Although it has been fun doing affiliate marketing business, providing freelance writing services, blogging, domain flipping, and website flipping, it has never occurred to me to take it to the next level of funding my future retirement.
Now that I’m not growing younger (LOL!), I thought I should do something and document it as a case study for my children to learn from. I’ll be engaging them too to do some of the digital tasks for me in their respective areas of expertise in this my financial freedom journey.
Yes, I already know a lot about starting an online business and growing it successfully and profitably. This is why I’m confident I’ll be able to succeed in this my wealth building project. And with a background in accounting and finance, I should be able to tidy up the book-keeping records of everything I do. That should not be a problem!
I’m going to focus on the lean startup methodology to grow my internet business. To get started, I have already registered and hosted the maximum three (3) domain names allowed on my Namecheap web hosting services on the Stellar package.
So, I’ll only focus on these 3 domain names to get things going so that I won’t spread myself thin chasing all shades of legitimate online business opportunities I know of.
For less than $30 which I paid for the Namecheap website hosting fees for the first year, I should be able to start a blog and make money online to invest in other requisite tools to expand and grow my business.
Click here if you want to download the free PDF ebook which I wrote to guide you on how to sign up with Namecheap domain hosting services.
Like it or hate it, AI tools have come to stay. A cursory study on how artificial intelligence (AI) works has been fascinating to me. I’m still evaluating whether to use AI writing tools to speed up my content publishing efforts on this personal finance blog.
I love raw creativity and I want to see how much content creation mileage I can cover without using AI writing tools with the first 3 domain names I’m starting this wealth building campaign with. But as soon as I’m making profits, I’ll subscribe to AI tools which will facilitate any mundane task I’m doing so that I can focus on key result areas of my online businesses.
While growing my blogs and websites, I’ll constantly bear in mind my top surefire ways of building wealth.
-I’ll always plan before spending to avoid compulsive or impulse buying on the internet. In other words, I’ll have a personal note that differentiates between needs and wants. I can defer my wants and take care of my needs. This will help me to spend and/or invest wisely before my money arrives. So, I’ll not subscribe to any AI tool except it becomes a necessity for my business. I discovered internet marketers and digital publishers are constantly marketing the next big things to their email list of subscribers and I’m amazed if I’ll not go broke if I start buying all of them.
-I’ll continually increase my financial education or literacy. I must invest in myself to fast forward my wealth building efforts on the World Wide Web. No man is an island is a common saying and I wholly buy into it. For now, I’ve subscribed to Rich Dad newsletter which has been both interesting and thought provoking on finding problems to solve as an entrepreneur.
-I will never invest in any offline or web business which I don’t understand inside out personally. I must know the rudiments of every business I intend to invest my dollar into. In the past, I’ve lost so much money in businesses I know little or nothing about. This cannot happen again!
My motto now is to build wealth slowly, surely, and steadily.
My mission is to build wealth from the internet around my interest, passion, hobby, experience, and the like. I’ll be researching legitimate online business opportunities and go with the ones with the most appeal.
Starting an online business from scratch is not difficult. What you need is to register a domain name and get web hosting to get started. That is all the business startup costs if you’re working strictly on a shoestring budget. Creating a blog or building a website is a cinch on the self-hosted WordPress CMS platform.
With free WordPress themes and plugins, you can get started and upgrade to premium tools as you make money and grow. This is really money saver instead of hiring a web designer to build a website for you.
I already know and appreciate that the virtues of discipline, consistency, frugality, sacrifice, and commitment are paramount to wealth building success. And I’ll do everything possible to exhibit these virtues in this journey. Since I’m not tech savvy, there is a lot of technical stuff I may contend with. That notwithstanding, I should be able to cope as we’re gradually moving to the no-code era.
My goal is to start making $1,000 per month online in net income with this self-imposed business challenge and invest everything to build wealth offline as fast as possible. I know it’s not going to be an easy ride or task because of cutthroat competition but I’m confident it’s doable.
Going by the money vim blog name, it’s your power to build wealth with your digital skills or knowledge by using it to solve problems for others. That is helping others by providing solutions to their problems and getting rewarded in the end. You can call yourself a problem solver or solution provider that will be fine!
For example, if I use an online marketing tool which helped me to execute any task better and faster in my business, I’ll come here to tell my blog readers my experience with that particular product. Anyone who wants to make use of the same merchant’s product will not be taking a leap in the dark. He would have seen how I used it and effortlessly do the same by following my tutorial or review.
Indeed, there is going to be a lot to write about on this money management blog. Talk of savings, investing, budgeting, paying off debt, credit cards, debit cards, real estate investing, and so forth.
For now, I cannot tamp down on how to monetize my blog. As it grows in readership and followership, I’ll decide whether to use Google AdSense, affiliate links, Mediavine, or sell my own digital products and services or a combination of these online business models.
My focus now is creating and publishing content consistently to attract targeted website visitors. I’m not in a hurry to monetize the blog website at all. It’s never too late to start afresh. My concern is to be able to solve problems and create value to be remembered for.
I strongly believe that failure in life is an orphan while success breeds success. So, I cannot afford to fail with this personal finance blog. Artificial intelligence may be a threat in this niche market, but I’m not bothered a bit.
That’s all for today’s blog post. Going by the tagline of this personal finance blog, discover your power to build wealth and run with it.