“I sell something and the money left over after costs is profit.” That’s the definition of profit we use most often – and it’s a very narrow one.
If we broaden our definition past money exchange, profit is benefits that are greater than our investment.
Our investment
We spend years learning about a subject. We spend hours and hours writing posts. We spend money buying web hosting and tools like Headway. We buy designs and artwork and coaching and a thousand other things! We spend emotional energy connecting and building relationships. We spend more hours promoting, marketing and guest posting.
That’s our investment. It’s huge.
What do we get for our investment?
If you broaden your idea of profit to more than money, then you can include the other two big reasons people start blogs.
The direct benefits of blogs
Money and prizes
Actual cash in the bank. Money for our products and services, affiliate links, advertising, joint ventures and endorsements.
Also: free review copies, gifts, discounts, bonuses and valuable advice (like stock tips).
Relationships
We’re social animals, and we love to get close to people on a personal and professional level. Examples: new friends, business contacts, suppliers, colleagues, partners, prospects, influence, mentorships, masterminds…
Emotions
Life coaches are fond of pointing out that we don’t want objects as much as we want the emotions those objects will bring. Examples: pride, satisfaction, confidence, preparedness, affection, amusement, admiration, recognition, inclusion, achievement, understanding
You don’t have to want (or get) all of these benefits to be happy with your website. Some exist solely to make money, and others (especially social change and personal blogs) will never make a cent.
Whatever mix you have, if you perceive the value of these benefits to be greater than your investment? You’ve made a profit.
Indirect benefits
These might lead to the things we really want, but they are potential, not reality.
Referrals
You send business to trusted colleagues, competitors and friends… and they do likewise.
Brand recognition
Becoming known as the go-to-gal for widgets, or as an excellent coach for sports therapists, or as a great reviewer of e-books.
Comments, retweets, diggs and likes
Engaged conversation about you, your posts and your products on different social media platforms.
Traffic
More visitors to the website.
Email sign-ups
Subscribers to your newsletters, post updates and advance discount list.
The problem
If all of your benefits are from the second group, then you’re not really making a profit. You’re making the potential for a profit.
A lot of people who talk about their website not “being worth it” have this problem. They’re investing dollars and hours, and in return they’re getting results! Comments and traffic and small fame and a whole bunch of other wonderful things.
But they aren’t the things we really want.
What we really want is to make some money and friends and feel good.
To feel that our investment of hours and effort and money has been worthwhile.
That we made a profit.
So what do you do if you’re NOT making a profit?
Choose which of the direct benefits you want to make and work toward them.
Stop focusing on follower counts and traffic statistics and potential leads.
Start focusing on relationships, money and emotions.
Does your blog make a profit? Tell me in the comments!
