If you have been blogging regularly for some time now, and you would like to try and turn it into a profitable business, there are many things you will need to do to make that happen. Although it may well not be an overnight success, the truth is that it is not too difficult to get your blog set up as a business and start making you some money. Blogging as a business is possible but you will need to do plenty of research and be prepared for a steep learning curve.
Let’s look at some of the essential things that you will need to take care of right from the start if you are serious about blogging as a business. As long as you are focused on these key areas, you’ll be giving yourself the best shot at having a successful blogging business, even with a minimum of prior experience.
If you don’t put any effort into spreading the word about your blog, then it is much less likely that it will actually gain the readership you need to make money from it.
This is worth bearing in mind, especially as it is something which is so easily done these days with the power of the internet at your fingertips. But what is actually involved in marketing a blog?
The truth is that the most important part of it happens online. First of all, you want to try and raise some interest in online forums such as Facebook groups. Then you should try to build up a following for your email newsletter, as that is one of the most powerful ways to spread the word consistently.
Don’t be afraid to tell your family, friends, work colleagues and anyone else you meet along the way all about your blog. You never know who may be just dying to read what you have to say.
Marketing your business is crucial if you are serious about moving on from your hobby blog and you may benefit from courses and books about building your confidence as a budding entrepreneur if you feel you lack the necessary skills to go out there and network. Successful bloggers do not spend all their time behind a keyboard.
As soon as you start to earn any money with your blog, you must tell the HMRC. If your blog is going to be your job you need to register for self-employment and submit a tax return each year – even if you don’t earn over the current tax threshold which is £11,500.
As with any other business, this means you are going to have to learn how to keep the books – that is maintain accurate financial records of your income and expenditure. If you don’t you could find yourself in debt, or at the very least jeopardising the cash flow of your business and running the risk of making a loss.
Bookkeeping is a difficult skill to master so it is a good idea to take an online course in it if you want to really get good at it. Besides, you will find that with practice you are able to improve your bookkeeping skills over time too. Taking care of the financial side is always going to be important, so make sure you bear this in mind.
If you are planning to employ staff further down the line – and this is something that successful bloggers and influencers do, you will need a payroll company to ensure that all the legal requirements relating to employment law and government regulations (for example tax, NI, pensions) are met.
You need to ensure that you are updating your blog regularly if you are going to make money from it, so if you have so far only been doing it as a hobby you might be surprised at the sudden workload. However, it is only with consistency that you will get anything done, so it is absolutely something that you need to focus on early on. Get this right, and you are setting up your business well.