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Written by Jake on August 15, 2013
Whether you already run a website or are looking to start one, you’re probably thinking about ways to make money with it. Keeping up with a blog takes a lot of work, and if you approach it correctly you should be rewarded for your time and effort.
You might be surprised by how many websites are profitable and how easy it can be to start making that kind of money yourself. These days, it seems like just about anyone can make money off a website or an online business. Employers look at websites like resumes: the successful ones can often lead to new partnerships and job opportunities.
Starting a website doesn’t cost that much — expenses involve the cost of securing a domain and maybe hiring a designer to give your site a professional appearance. Beyond the low start-up cost, here are four tips that will come in handy if you want to make money from a blog or website.
1. Build up your website first
The websites that make the most money are ones that are well-established, produce high-quality and original content on a regular basis, and have a strong online presence and following.
If you’re hoping to make money from your website or use it as a starting point that will lead to bigger and better things, you have to spend some time proving to people that your site is worth looking at in the first place. Once you have a website that attracts regular traffic and a strong following, you’ll have an easier time profiting from ads and attracting sponsors and partnerships.
2. Use relevant ads
Your website has potential ad space, and you should be profiting from it. Using an online service like AdSense is an easy way to put profitable ads on your website, but you should try to reserve that space for ads that are relevant to your readers.
If you have a fashion blog, for example, running an ad for an online clothing company that you mention a lot in your content will get more attention, and more readers will click through the ad as opposed to an ad that is more random.
3. Upgrade your site and incorporate
Once your blog starts to generate a little money, that extra cash will get taxed with your general income at a marginal rate. If you start making a substantial amount of money from your website, you may want to consider taking a look at incorporating your website.
When you do that, your blog becomes a legitimate business and the money you make from it is taxed at a corporate rate, which is often lower than the marginal rate. By incorporating, you get to keep more of the money you make from your blog when tax time comes around.
4. You don’t have to start from scratch
No one said you have to start from absolute square one. If you’re looking for a high traffic website but don’t want to struggle through that period of building a following, you might prefer to buy a site that’s already well established.
Taking over a website eliminates the challenge of finding readers and allows you to dive right into making money off your website. It’s a good choice for someone who has experience with running a site and knows his or her ultimate goal.