What separates those that earn hundreds of thousands per month from those that only earn a few hundred or couple thousand dollars per month?
The answer is “PROCESS”
You have to have a process in place that’s designed to elevate your income month over month. A process with growth at it’s core.
I had to learn this the hard way and almost went broke
When I first got started building and monetizing websites I would only focus on one website at a time. Then flip and sell it.
I did really well with this strategy for about 2 years until one of my sites didn’t sell. This caused me to eat more money than I could make and soon I was left almost broke. I was forced to create lower quality sites and sell them in volume just to get by.
Another problem with that strategy is I didn’t have recurring income. Which is vital if you want to do this full time.
My main source of cash flow was completely dependent on my ability to generate 90% of my income building 1 website at a time and selling it for a lump sum. I didn’t have a process and I wasn’t building a portfolio of websites that generates recurring income.
This is the exact situation you want to avoid. Start your process now!
The most important thing you can do to ensure your success with niche websites and building a profitable portfolio is to have an easy to follow process that is designed to accomplish your goals in an exact time frame.
The important thing to remember is that your process needs to be simple. There is no need to have a complicated process that is only going to make accomplishing your goals more difficult.
Watch the video below to learn my simple process for creating a portfolio of websites that meets or exceeds your goals.
I know my process chart was hard to see in the video. I made an illustration for you below.
Website Portfolio Process
Before you start on your journey to create a portfolio of websites we need to set some ground rules.
Here are the ground rules before getting started
Rule 1: This is a business. You need to set aside a monthly budget for your new endeavor. I recommend a minimum of $500 PM to get started. This should be enough money to get you going. If you’re looking for faster results I recommend purchasing a website. This will dramatically improve the time it takes to meet your goals.
Rule 2: Always invest 60% or more back into your business (process). This is how you’re going to grow your sites to meet the goals you set for yourself. This money can be used to develop/purchase new websites, buy traffic, outsource, etc…
Rule 3: Always adapt your process once you meet your goals. This is the key for continuous growth.
Now that we have the rules out of the way let’s dive into the process. The best part is that it’s simple.
6 simple steps to get you started building your process now
Step 1: Set an end goal that every site must meet before you keep it in your portfolio. For example: Every site in my portfolio must earn $5,000+ Per Month.
Step 2: Buy a website that meets your goal or is as close to your goal as possible. If you don’t have enough money you’ll have to start small. Buy a beginner site or build one yourself.
Step 3: Create multiple reserves with their own time limits and goals. I recommend 3 reserves. Refer to the flow chart above.
Step 4: Build and invest as many websites you can handle to funnel through the process. If a website doesn’t meet that reserves goal then sell the website for a lump sum. Then take 60% or more and buy a new website. If you already have a portfolio invest 10-20% of your earnings into those sites.
Step 5: If a website meets all your goals. Graduate it to your portfolio. Sites in your portfolio should be treated like royalty. Once you have enough sites in your portfolio you need to do everything you can to grow them and sustain the goal you set for yourself.
Step 6: Never stop doing this process. Once you have at least 3 sites in your portfolio it may be time to set new goals with higher standards. This is the time to buy sites that already meet your new goals. You should have enough capital at this point to do so. It becomes a little more tricky after this point and is best saved for another video.
What to do if a website in your portfolio starts to under perform?
If one of your portfolio sites starts to show a downwards trend you need to sell it ASAP. The only reason to keep the site is if you know why it’s losing money and know how to fix it. It’s best to get the capital and invest in a new site that already meets your goal.
Tell me what goal you want to accomplish in the comments
I hope I was able to show you an easy to follow process that is going to allow you to create a portfolio of websites that meets or exceeds your goals.
Just like any process, it’s worthless if you don’t put into action. Don’t hesitate. Do it right now. Leave me a comment telling me what goal you’re going to accomplish by following this process.