Im going to tell you the truth. Im in the same boat as you. I was handling 3 sites making 300-500/month in net profit. i was all over the place, didn't have focus to any one site, lacked the time for marketing. and now im working on opening a new site (cross my fingers, im really close to getting it done), and i'v already been sidetracked by new ideas and opportunities. but to help myself im selling off dead weight, and will focus soley on this one site. my goal is the same as ur to be making 5000/month by sept 2009 too. so even though im not experienced or anything. i can tell u stay focused and be determined, dont get sidetracked like me.
That's an interesting point. I wouldn't use it as an advance justification, but sometimes even after quite a bit of time spent trying to come up with the best idea you still can't be 100% sure it will be it, but you're confident enough about its potential to find it worth trying. In that case knowing the fact that if you fail you've at least gained some experience on which you can learn (not to make same mistakes, to do some things better next time etc.) is just something to shift the mind towards having a positive attitude, which always helps to have. Negative attitude can show through your work. That's one way to do it. There are some caveats with it though. You have to make sure that once you do a site and push it to $100 a month, for instance, once you move on to another site it wont require much maintenance effort to keep those kinds of periodic earnings. Otherwise you might end up with 50 sites all seeking your attention at once which is bad for focus and ultimately you'll either find yourself selling them or they'll start to degrade their earnings. So that depends on what kind of sites they are. 10 sites all earning $500 is a little better (a little over $100 a week you mentioned). Sounds good. Good luck to you as well! I've chosen a single project to try with, but I've got 2 more that I've prioritized beneath it so I'll spend 90% of the time on week days on the main project and 10% plus weekend on the other two and some mini projects. This way I am able to do a little bit of the other stuff as well without losing focus on what's the most important one, so long as I stick to my prioritization schedule. Thanks everyone!
It is possible but it will take time. 1 year to do $5k a month? I don't see why you can't be doing that. Best of luck!
If a site is making 5k a month people rarely sell them, the reason is that even though they sell for many thousands it is a stable income. This allows them to use the 5k to build another 5k generating site while having a steady income. One advantage this has is that they link their sites meaning they make more than 5k on each because of visitors looking at other sites they own. I will eventually use my forum www.teenstalkmoney.com to do the same but it is still fairly new yet and growing.