2006 certainly was an interesting year. While we fell short in a lot of goals that we initially set, overall it was a good year and nothing to complain about. Many of the goals fell short due to us changing our focus as time went on so while we didn’t meet them, this was not necessarily a disappointment. If we can do as well in 2007 as we did in 2006, we’ll be in great shape.
We have definitely made some changes in our thinking since we initially made our goals. At one point we wanted to have 50 satellite sites live and running. While we still want a good group of sites up and running, we have realized that keeping that many updated on a consistent basis just isn’t possible for two of us. We are therefore going to look into selling some of them that aren’t meeting the $50 a month in earnings that we targeted so that we can focus on building those that are earning more money. We’d also like to add more with the hopes that they perform better until we can get a group that does pay well on a consistent basis.
Another major shift is that we are considering making this blog a joint effort if we can find the right people. This is still in the initial stages of consideration, but if we decide that there are others that have similar ideas, we would do a revenue share with those that participate. It could be a lot of fun if we can find some others out there that have the same philosophy as us and something that I will talking about more in the near future.
We are hoping to double our current monthly income in 2007. This may be a bit ambitious, but with us both now working on the sites it’s attainable in my opinion. We have been growing our revenue on a consistent basis from month to month and we are hoping that we continue to do this. We know that there are a lot of opportunities where we can better monetize some of our sites (this blog for example) and we feel we can continue to grow overall in much the same way we did in 2006.
The first step is to grow the forums on the main site which we’d like to get up to 15,000 members by the beginning of 2008. I’m not sure how we’ll be able to obtain that, but I know that with Nate working full time we will add a lot more tools and information than we have in the past. We are already in the process of updating them.
We’d also like to increase the active “real people, real finances blogs” to 300 active blogs. We had been shooting for 100 last year and ended up with 133. That community has come together quite well, especially since even new bloggers get a load of comments and readers from day one (something that most don’t get when they first start blogging). We’re hoping that this support and regular readers will encourage more to sign up and help grow this community.
While Nate and I have talked in general terms about the above mentioned, we haven’t discussed what our monthly goals will be. We will do that his week which will help focus our short term goals. It looks to be another exciting year and we’re both looking forward to tackling the challenges ahead.