I know I'm going against my principal on focusing on one thing only but hear me out.
I've always had a side experiment going on. I was reading up on making money with Instagram and came across this thread about making 2-$300 a day with Instagram on Warriorforum. Now, I take everything on Warriorforum with a grain of salt until there's someone actually doing what they preach.
I mean it's great about to learn about someone driving traffic to their website or growing their email list to xx,xxx but the most important thing in business is money. Yes, you should be providing value and all but never forget about your bottom dollar. If I can see a clear path to making money, my body starts to move in that direction.
This post triggered that feeling. I made 5 Instagram accounts, each in a different topic and start posting images and tagging like crazy. The idea was to spit test different niches and see which one seemed like the one with the quickest growth and had high advertising potential. Anyway, I found one that was gaining followers at a quicker rate than the others so I decided to stick with it.
How am I going to make money?
Good question. I never try anything in business unless I have clear knowledge on how it's going to make me money. Most instagramers make money a variety of ways but it all comes down to posting images on behalf of other companies for a small fee.
Popular instagram personalities can post out a picture for 100s sometimes even 1,000s of dollars. If you can get a few of these a week, you'll be making some pretty easy cash.
I'm aiming to grow my account to 50,000 and then finding companies interested in monetising. It might even be worth making a quick datafeed affiliate site and seeing if traffic gets through to the site and goes through with any purchases.
If we can find a way to monetise an Instagram account better than others then we can maybe even buy Instagram accounts, (of course only if that's legal).
It only takes about half an hour a day and I can do it while watching a TV show so it doesn't really take much out of my working time. In a few months I should have a decent following to let me know on the potential how much I can make. If it's good, I'll focus on it full-time and make a bunch of different accounts.
Again, it's all about testing assumptions, following through till the end and re-evaluating if the business is the type of business you want to get into.
So right now I have a few things going on. At the end of the year hopefully something will show me positive signs but till then I'm just going to keep moving forward.
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