The Get Rich Project

Bloggers sell their blogs for all sorts of reasons. For some, “flipping” a blog (the practice of creating a blog, with the sole intention of selling it) is just another source of income. For others, selling up is something they never really planned, it just happened.

There are plenty of places to sell your blog, but how do you know how much it’s worth? There are totally non-scientific methods, or there’s more scientific methods, like Yaro’s 5-times monthly income’ formula. Taking both of those methods, the Get Rich Project is wirth somewhere between $400 and $1700.

The thing is though, I doubt I would sell for that low a price. Especially not the $400, which would make the time I’ve put into this site worth about just a few cents an hour. What you have to remember is not only the “now” price, based only on current performance, but the potential for growth, if handled correctly. A blog is an investment, kind of like a house. If you do even just a little work to it, you could find the value rises quite substantially.

The bare minimum I would want in return for the Get Rich Project is somewhere between $2000-$2500. About £1000 in “real” (i.e. UK) money ;-). I base this not only on the price from the two sites above, but also the work I have put into the site, and another, final factor to remember - emotional attachment. I’ve put a lot of work into this site, and I’m proud of it. I’m not just going sell to the lowest bidder.

If you were to sell, what would you sell your blog for? Or could you never part company with your baby?

Dang that’s a long title! Robert kindly dropped me a note to let me know that he had listed The Get Rich Project in ‘The 100 Most Influential Personal Finance Turnarounds’, over at Credit Card Lowdown. The GRP is in there at #55, with a link to my story, which is in the ‘Money Mistakes’ sub-category.

It’s always nice to listed in a Top X list (other than the “Most Wanted”), and especially nice to be called “inspirational”, so thanks to Robert for the recognition!

I’m sure you’ve seen the tactic both John and Tyler use to boot the back links to their blogs - just post a short review of their site, with a link containing certain anchor text, and they’ll link back to you in one of their “round-up posts”¹.

Well, I’m going to do the same, but go one up on John and Tyler by offering cash incentives, as well as links back to your blog.

Yesterday I wrote about the Pay Per Post ‘Review This Post’ scheme. If you missed yesterdays entry, go read it just now - we’ll wait for you to catch up :-).

Back again? OK then, I’m sure you can see where this is going… Basically, if you review an entry on the Get Rich Project, you’ll get paid $7.50. If you also meet a few other criteria, I will link back to you in a review round-up. Consider this - the Get Rich Project is a PageRank 4 site (and has been as high as PR 6), with a fast growing readership. A back link from here could be quite valuable.

Criteria

So what are the criteria? Basically:

• Review an entry, complete with link. Do this by clicking the “Review this post…” button in the entry and accepting the Pay Per Post “opportunity” (requires signing-up).
• Within the review, you should link to the Get Rich Project home page with the link text “getting rich online”.
• Reviews should be at least 150 words, or thereabouts.
• Letting me know about your review (include the URL, name of your blog, etc), through the contact form would be a good idea.

Once I’ve collected enough reviews, I will round them up and link to your blog home page, and the review itself.

Back links and cash for a measly 150 words? What are you waiting for?!

¹ See here and here for examples.

I’m trying out a new method of monetizing The Get Rich Project - Pay Per Post “Review This Post” links (see the button below each post). I don’t know if this is a new service from PPP, but I’ve never heard of it before.

In essence it’s an affiliate scheme; a blogger places the button at the end of each of his posts, and if someone clicks on it, they get a unique Pay Per Post opportunity created for them. If they accept the opportunity and promptly sign up for PPP (new users only, I think), they will get $7.50 once the review is complete. Of course it wouldn’t be an affiliate scheme if you (the blogger, in this case me) weren’t getting paid, so when the review is posted, you get $7.50 as well. It might not seem like much, but if you have a large enough readership, it could prove a nice little earner.

Another benefit, is back links. Each review will link back to your blog, so as well as the financial benefits, you could end up with a substantial SERP + traffic boost.

All in all, it seemed a win-win deal. Of course, time will tell.

So Why Pay Per Post?

I actually signed up out of curiosity. There had been renewed buzz about PPP recently, so I wanted to see for myself what it was about. The “Review My Post” feature caught my eye, after I realised The Get Rich Project probably wouldn’t qualify for the Pay Per Post Marketplace (I have had a break of more than 90 days between posts recently). I’d like to try out the Marketplace, eventually, to see if it’s a better performer than ReviewMe (so if anyone from PPP wants to approve this blog, despite the break, I’ll happily write up a good word or two!).

So what do you think? Good idea, or waste of time? Would you try out “Rate My Post”?

The Barefoot Investor, by Scott Pape, is my one “must have” money/finance book. Much of the early content of the Get Rich Project was inspired¹ by chapters in this book.

From the back (emphasis is mine):

At 26, Scott is a successful stockbroker and media commentator. He runs his own weekly finance radio show, chooses to drive a wreck and lives a full and rich life. His radio show has been described as finance for people don’t do finance. He makes money funky; your money can look after you once you learn to look after it.

The Barefoot Investor is the only finance book I’ve managed to read from start to finish; lets face it - finance is a bit of a boring subject for most people. The book distills much of the jargon and dry subject matter into a form which can be easily related to, easily understood, and easily acted on.

It’s hard to describe the difference this makes. While reading The Barefoot Investor, you start thinking about how you are going to implement the tips and ideas you get, and more importantly, when. This book makes you want to take control over your finances, and it gives you the information you need to do it.

It’s important to note that this book is (mostly) not about short-term gain. Most of the advice is based on long-term strategies which will make you “financially free” (i.e. not worrying about your finances and not living payday to payday). There are some short-term strategies for helping you get on the right track, but mostly the book looks at the “long game,” or - in Barefoot Terminology - “working your Mojo.”

For me, the best chapter (or “step”) in the book, is #3 - “Repo Your Repayments.” This chapter primarily deals with debt and what can be done about it. It clearly looks at many of the common forms of consumer debt, why they’re bad, and more importantly, what can be done to get out of the trap.

So in summary - buy this book. If you’re looking for a book to help you understand your finances, with clear, practical advice, I don’t think you’ll find one much better than this.

¹ Examples would include: Your Money or Your Wife, What Price the Little Things, and Be a Bank Account Tart