I see this question all the time with people wanting to invest cash in their weight loss blog. Actually, more so than those that wants to do it for free and have absolutely no money to put down whatsoever.
It’s that urge that if you spend money on something it will come together quicker and that you will be earning money quicker from it.
I got three emails last week asking me exactly this and I always see the same question for a whole variety of niches being asked on forums on a daily basis. So I thought I would share with you if I was to start again with My Weight Loss Dream where I would put $1000.
This also reflects where I would spend money for the first 60 days of my new site:
Domain & Hosting = $150
The first thing I would do is choose a good domain at the Godaddy auctions. That way instead of spending the usual $10 on a domain I am buying a premium one that is already generating traffic, already has a good Alexa rank, has some good links back to it and because of age it wont take long before Google will consider the site an authority.
If you look around the auctions you’ll often find some in the weight loss or fitness niche with more than 1500 visitors a month. These will cost you about $50-$150 depending on whether there is a bidding war on that particular domain.
You can also find aged ones without traffic for around the $20 mark and some of them I have seen have been five years old!
Then once I have the domain name set up I would get some Blue Host hosting in place.
Get a good WordPress Theme = $37
Now the next important thing is to get a good theme to get started with. If you have no experience with WordPress and haven’t owned a blog before I would recommend Socrates, or for those of you with technical knowledge then opt for Thesis with a Themedy skin and this is what we have.
Get a good designer = $25
Next on the list would be a really good designer. Get someone that can design you a really nice header, social media graphics, favicon and a logo. You can find some really good ones on Odesk (that’s where I found mine) or on Fiverr.
Help with content = $240
The first 60 days of content is all about getting out at least one post a day, so that you are picked up as an authority in the niche. But keeping up with 7 decent posts a week is a lot of hard work. Therefore I would recommend that you share the workload with a good weight loss blogger, that way you can hit your targets and not fall behind.
Virtual assistant = $240
A 30 hour a week virtual assistant from the Philippines for 2 months would cost you $240. This would be based on them working for you for $1 an hour and they are really good in what they can do and free you up for the technical side of your website.
I hire mine from Odesk and find that there are some real gems on there if you have a good look around.
Get them to:
- Open up all your social bookmarking accounts
- Open your social media accounts
- Upload your blog posts
- Source images for blog posts
- Research for future blog posts, income streams, traffic methods etc
- Carry out basic social media tasks for you
And they can also achieve a whole host of other things too!
Also, because they are very hard working it means that you get a lot for 30 hours a week.
Never use Fiverr for virtual assistant services though because they are often over priced and don’t have the same work ethics and often lack experience.
Save the rest = $308
Now you are probably expecting me to tell you a whole host of other things to pay for. But as a brand new blog you will need this money for later on, so keep it for now. With what you have spent already, you already have the main parts of your blog set up and in motion and unless you plan to spend a lot on paid advertising then this is where you stop spending.
Now is all about building lots of content to your website and then buying things as you need them. Keep us with your virtual assistant so that you can run the blog and generate a profit quickly and then the same goes for your designer and blog writer.
Look at what you need in the long term and then this money is your reserve then when you turn a profit put that money back into paid advertising and then you can grow it at a better rate.
Just because you have some money burning a whole in your pocket doesn’t mean you have to spend it all at once and concentrate more on when your business needs money spending on it, then spend it!
Also have a read at our resources for weight loss bloggers, and then you’ll see that we are not big fans of spending lots of money on software and ebooks, but we get the things that are really necessary.