Right now I am participating in two different blog networks, Grand Effect, where I am a code-monkey and co-founder and Digital Life News, where I am the owner. One is somewhat expensive on time, and the other is expensive on time and money, but the real question remains: which one is worth more to me?
With Grand Effect, I am part of a group of very exciting, very prominent blogs that talk about technology and the web. The hard part, building the sites, is basically done. The new issue for Grand Effect is to help these blogs promote themselves, and help find ways to monetize them more effectively. I am also trying to make sure I give each member some of my time, so that they can get help with anything technical, and I would love to help them all with hosting needs in the near future.
With Digital Life News, I am building blogs from scratch and paying through the nose for writers. Because I was once a blogger myself, I feel bad if I am paying my writers too little, but I also realize that this is a bad business practice, as the sites aren’t making enough to be sustainable, and the sustainable level of income versus payments is still a very long ways away. With this type of system, I am spreading myself too thin. I am working on setting up a managing editor for the network who deals with promotion, basic WordPress administration and helps manage the writers, and content produced, but this means more money, and that is something I don’t really have a lot of at this point.
With Grand Effect, I could quickly and easily make a part time income by spending four hours a day marketing the member blogs, working on advertising, and developing new features for the network site, but in order to do this, I will have to slow down on other projects.
With Digital Life News, I own a blog network, but the amount of time and money I have to put into it before it repays me is huge, and the repayment date is measured in years rather than months.
Blog networks are expensive to build, whether you are devoting just time or time and money towards building them. Never underestimate this fact, or you are doomed to frustration, if not failure.