Ever since I got into IM marketing, I have researched alot of ways to build sites. I tried to do small sites, medium sites but I can't stick to it long enought to build a successful sites because I have no motivation to build mediocre sites. The vision I have for my site is always extremely high, always comparable to the big dogs like Facebook. My first ever mainstream site now cost me 5 grand and 3 more in the next phase so far I've made 1 dollar in the year of development. Am just waiting for that big payoff when the site is finally done, I know I could be making ok money now if I had just created something small. I guess I just wanna be the next Myspace Anyone with the same mindset?
Your a good developer, someone who wants to fill a need for users, not just grab cash. That makes you more likely to be successful. It took me 1 1/2 years to hit the 3k a month mark, making about 100$ over the first year. It takes time and patience and sometimes its not worth it. IMO if you stop trying to go so big... it helps. I run 10 websites and own 3 that are HUGE for traffic and very useful to people. However they make almost no cash. These were my first three websites(all not finished like you) The day i figured out "Marketing" is the day i found how to exploit niches and make very healthy income. This is how you stop yourself from trying to be a mySpace or Facebook. If you concentrate on a specific niche and dont go outside that niche you stand a much better chance of not getting into the endless loop of improving the website. Get to a point it works and then move to a new one only going back to update content. Not the page itself. Just my opinion
Sounds like your more worried about how the site truns out then turning a profit. that is fine if you have the money to burn and no need to make profit soon. You still should try to make some money while you work on the site.
Personally, I'd start with the small risks and small payoffs and then start going into big payoff and big risks. It might take you a little longer to make it but there's less of a chance of losing all your money. A steady stream of small payoffs also gives encouragement.
By all means focus on the small risks and small payouts. The payouts will accumulate for you. Home runs are awesome but singles and doubles win the ball games.
A small site doesn't have to be mediocre. You can start small and build a network or start a small site and expand your offerings. Just because a site is small doesn't mean it shouldn't be done well.
I see what you guys are saying, I should have noted that I make 30k/month on other bussiness. I could expand that to make 100k/month and maybe I should. It's all about balance I supose.