Writing a managing a blog is a lot of fun. You have complete control over what you say and a great place to share your thoughts with other investors. It does not come without it struggles. I’ve heard it said that you should only start a blog if you can come up with 50 titles or topics to cover. 50 might be extreme but it gives aspiring bloggers a little perspective on what lies ahead. Most would be bloggers quit after 6 months and very few are still going strong after a year.
Seth Godin refers to this initial weeding out period and struggle period as the Dip. He dedicated an entire book to explaining what it is and what the rewards are for those who can push through. Personally I live for the Dip because on the other side of the Dip the work becomes that much more meaningful. In this post I want to highlight the benefits of having an investment blog.
Doing What You Love
While you may not have a full time job doing what you love there is nothing stopping you from blogging about whatever it is you are passionate about. I personally like investing. I really enjoy finding solid investments, analyzing companies, knowing what to look for in the dividend fundamentals and deciding if the company has growth in its future. It’s pure fun for me. Getting to blog about it is a bonus.
Blogging about a topic you care about is a requirement for getting through the Dip. Bloggers that don’t like their topic and start a blog for some other reason burn out fast. That isn’t a problem for me though because blogging gives me a chance to work on something I enjoy doing.
Writing forces me to get focused and put concrete ideas down on paper. I try to stick to a schedule of publishing articles on Monday and Wednesday. Thursday is usually a post about what I’ve been reading and Friday is a miscellaneous post about something random but I don’t always publish on Friday. These days serve as a deadline which I find is a must. Readers get used to a schedule and if I don’t stick to a routine it will be too easy to quit.
The benefit of focusing my thoughts though is that it makes me a better investor. I find that I have to think through an idea completely instead of just ponder the possibilities. I have to completely research the details of a post which forces me to learn. I become better educated, more understanding and as a result more successful in my personal investments.
Connecting With Others
A big part of having a blog is connecting with other bloggers. As you already know when you make a blog comment you fill in your name, email and website. Having a website to list in the comment section gives other bloggers a place to find you. They get to read your ideas and comment on what you have to say.
This helps develop an investment community where bloggers help each other out. It’s a lot of fun to get to know other investors and learn from them.
I have no choice but to be constantly thinking and learning. How else can I be constantly publishing new blog posts. Sure I had my 50+ ideas before I started this blog but that isn’t even enough to get me through the first 6 months. Having a blog and knowing that people are looking forward to reading what I have to stay forces me to keep learning, keep thinking and keep getting better.
Earning Something Extra
It is possible to earn extra income from a blog. How much depends on many different factors including traffic and proper monetization. The better the content the more people will find and return to the blog. Monetizing that traffic is an entire industry all by itself. As traffic (unique visitors) increases the opportunity to earn from it will come in the form of advertising, affiliate promotion or product development. While all of those are possible and the opportunity for each increases as the blog grows none of those income opportunities is a good reason to start a blog. I’ve found that the foundation of the blog must be a topic the author is extremely found of and love talking about.
I started an investment blog because I love the world of finance and investing. If you do too then it might be a good fit. I don’t know of any better way to connect with other investors, develop skills and stay focused like investment blogging.