“If you don’t design your own life plan, chances are you’ll fall into someone else’s plan. And guess what they have planned for you? Not much.”
In my first post, I talked about passive income businesses and my first business idea.
Today, we’ll walk through my 1 year plan, including the vision, goals, and timeline.
I hope this plan serves as a template for those looking to build their own passive income business!
First, let’s start with the Vision.
Vision: What Does Success Look Like?
I always start a plan with the end in mind.
It’s like sailing a ship – you want to know the destination before leaving the harbour.
- To become the most trusted site on acne scars
- To provide practical content supported by medical studies
- To improve my readers’ quality of life
- To generate recurring income from affiliate marketing and ebooks
- To reduce the time I spend on this business so it truly becomes passive income
In summary, I’m creating the “how-to” guide on acne scars that I wish I had.
Now, let’s turn to the milestones on this journey: Goals.
Goals: How Will I Measure My Progress?
1. Publish an ebook
My top priority is publishing an ebook on acne scars. Here’s why:
(i) ebooks are popular products
You’ve probably seen ebooks before, as study guides, interview materials, or “how-to” manuals, among others. In general, people buy an ebook because of:
An ebook provides a concise summary of all the important content. This saves the reader time – and time is money.
(b) Greater Scope
The ebook may go beyond the scope of free content. This includes more details, examples, exercises, tutorials, and audio or video supplements.
(ii) ebooks are recurring and scalable
As with traditional books, a well-written ebook can become a “go-to” resource for beginners. This means there is recurring demand as new beginners learn about the topic.
Selling your own products generally carries higher margins than selling someone else’s products (affiliate marketing).
Suppose the ebook sells for $30 and affiliate marketing commissions are $5 per referral. With just 10 ebook customers, you’d make the same sales as 60 referrals.
However, selling your own products is far more difficult. Readers must trust your site and feel that they are getting something of value.
2. Write 50+ Blog Posts
The blog post is the bread and butter of most sites.
My plan for writing blog posts is twofold:
(i) Write blog posts using my ebook research
As I learn more about my topic, I’ll write blog posts along the way.
This helps me better understand the topic and also provides content for the site.
(ii) Reuse blog posts to write the ebook
Once I finish my research, I can reuse the blog posts for the ebook.
3. 750+ Visits per Month
Goals 1 and 2 won’t matter if no one is reading my content.
So my last goal is to target 750+ visits per month in a year.
How did I come up with 750? I looked at the performance of two similar sites.
Using SEMRush (an SEO tool), I pulled the traffic data of these sites in the last few years.
Both sites achieved ~1,000 visits per month in one year’s time. I adjusted that number to 750 as search volume for acne scars is much lower than acne in general.
SEMRush Report on Supernatural Acne Treatment
SEMRush Report on Acne Einstein
Timeline: When Will I Achieve My Goals?
I’ve split my 1 year plan into 3 distinct phases.
Phase I: Foundations
In this phase, I’ll develop the foundational skills required to build a successful blog and work effectively as a solo entrepreneur:
- Learning WordPress
- Getting setup (themes, plugins, layout, etc.)
- Learning basic SEO
- Developing a daily routine
- Adopting a productivity system (time management, scheduling, to-do lists) – I’m looking into “Getting Things Done” (GTD) by David Allen
- Identify skill gaps and how to address them (for example, I lack design skills so I’ll use freelancers for logos and graphics)
Phase II: Content Curation
In this phase, I’ll be reading medical journals and writing blog posts. I call this content “curation” rather than “creation” because I’m taking pieces of what already exists and aggregating it in one place.
- Execute research plan and write blog posts
- Look for ways to improve my research method and writing process
- Compile blog posts into ebook
Phase III: Distribution
The final phase is distribution and increasing traffic to the blog.
I’ll use social media appropriately and optimize the blog to improve its rankings in Google.
- Learn how to effectively use social media for blogging
- Optimize blog for SEO (perhaps hire an SEO consultant)
- Build awareness by participating on forums, doing guest posts, etc.
Thanks for reading this post! Stay tuned for more details on my journey!