How Jim Wang Made $3 Million Online From A Website Because He Was Bored
“I was bored!” Jim Wang said when he was asked how he decided to start the personal finance blog Bargaineering.com, which he later sold for the sweet round amount of $3 000 000. This is the amazing story of the young entrepreneur who created a super successful financial blog out of thin air because he didn’t have anything else to do…
Well, all this didn’t happen without effort. Actually, Jim had developed the site for more than 5 years before his investment of spare time paid off big time. When he was in college, he spent his spare time hanging around with his girl. After their graduation, they lived separately for a few years and this was how Wang’s period of boring evenings began. He hadn’t many things to do every evening after work, and this was how, in 2005, he decided to start a blog about personal finance. He bought a domain name and hosting, installed WordPress, and began tracking his 401 k online at first. Later he expanded the scope and added articles and tips on topics from optimizing your groceries bills to how to pay off your mortgage without even noticing it. Over the years, his article base expanded (too many boring evenings), and the number of his visitors followed the trend.
Jim Wang, a picture from his Twitter profile: https://twitter.com/wangarific
Initially, he hoped the site would pay for one vacation per year. This was his first big goal, but then, something happened. The site started bringing revenue home very soon after its launch. Initially, it was not a bid deal, $1-2 from Adsense ads per day, but the income began growing and after a while, the site started making some nice amounts of cash. So nice, that at some point in time Jim, who worked as a software developer, decided to quit his job and dedicate not only his evenings to the site. This was tough, but also the right decision. And money was not the only benefit of such a project. Wang began learning… Learning about SEO, affiliate marketing, online sales and promotion, and many other interesting topics like these. This was how he managed to expand the income stream from the blog even more. And after 5 years of building the site, he found a buyer that paid $3 million for it. He cashed in his efforts, taking the tempting amount.
Jim’s story is amazing, but it’s not the only one. There are many entrepreneurs, some of which at a very young age, made millions by just starting a site. Don’t believe me? Here are the stories of 10 other people that became millionaires by building a website. And below you can find three of the many other stories with such examples, that are published on this site:
Got inspired? why don’t you try making your own site, it’s easy. Here is some basic instruction about how to create your first website. It will give you the most common knowledge you need.
Top ways to make money online from a website
In this day and age, every online presence has a website, but many people don’t know how to make money from it. It is true that websites, in general, are saving time and resources and boosting business visibility, but having a website should also mean taking advantage of additional revenue opportunities. Here are the top ways to earn money from a website:
1. Sell Advertising Space: Selling advertising space is a great way to make money from a website. Using a Google AdSense plugin or an advert manager, you can offer up slots for promotions from third-party companies or market yourself.
2. Affiliate Marketing: Another wonderful way to monetize your website is using affiliate marketing. This involves connecting your website users with something such as a product or service. You will then be able to earn some money for each click, lead, or sale that is captured via your website.
3. Paid Subscriptions: Paid subscription models are becoming increasingly popular thanks to the rise of streaming and subscription-based websites like Netflix and Spotify. With the help of a plugin, you can easily add a paid subscription model to your website.
4. Collect Donations: Another way to monetize your website is to give people the option of making a donation. This is becoming increasingly popular with smaller websites and blogs, but even the most popular sites offer the option of giving.
5. Design and Development Services: For those with web development or design background, offering services is a great way to make money from a website. You can offer services such as theme and plugin customization, content writing, and even complex development projects.
6. Provide a Marketplace: A marketplace is a great way to monetize your website. You can add a marketplace and allow people to list items that they want to buy or sell. This is a great way to make money from a website since there is little effort to maintain it and the process is automated.
7. Explore Merchandise: Merchandise is another way to make money from your website. You can add a store and list items that relate to your websites such as t-shirts, mugs, and other promotional items.
8. Do what Jim wand did, make a successful website and sell it for good cash!
These are just a few of the top ways to make money from a website. There are many more opportunities and tactics that can be used to monetize your website and maximize your website’s earning potential. With a little bit of research and effort, you can make a significant amount of money from your website.
If you found this post useful, please share it and support our site. Also, don’t miss going through some of the many other entrepreneurship stories here.
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How To Build A Million Dollar Business Online – LaserMonks.com