So I just ordered 30 new websites for our website publishing business for $570. That does not include the cost of the domains or hosting. I’m wondering if it is worth buying a new hosting package for these sites specifically. The domains will cost about $360, so we are looking at $930 minimum to get started which works out to $31 per site to have the basic niche selection, site setup, and first two articles written. That’s not too bad. If I add a new hosting package, it comes out to about $42 for the first full year. The expected return per site is about $15 in the first year as-is, which works out to 48% if we use our existing hosting resources or 35% if we get new hosting. The overall plan will be to get the sites up and running, and then do some semantic keyword research to flesh out the sites quite a bit. That will increase costs, but should provide a more substantial return.
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One of my favorite podcasters, Jake Desyllas of The Voluntary Life, tweeted this today: E Myth Revisited by @MichaelEGerber is one of the books every small business entrepreneur should read. My review: https://t.co/EkACaTjq5p — Jake Desyllas (@thevoluntary) June 10, 2014 To which I responded that one of the big issues that Gerber doesn’t address is opportunity cost.http://nealmcspadden.com/wp-admin/post-new.php Let’s do a little recap. In E-Myth Revisited, Michael Gerber talks about creating an extremely systematized business that can be replicated and run by the least skilled workers possible. In order to get to that optimal set of processes, the business owner has to experiment a lot. In the book he talks about Sarah’s pie shop, and the trials she goes through to make her business successful. But I always thought the discussion in the book was fairly limited. Even something that looks fairly simple like a pie shop can have infinite permutations. Sarah talks about learning to bake pies with her grandmother or aunt (I don’t remember which off the top of my head), and I always thought that the experience she describes could make a business model. What if customers came into the shop and instead of finding the usual counter and glass cases they entered grandma’s kitchen? The customer could become part of the experience of making pies the way Sarah developed her love for this baking. The customer could have the option of baking with Sarah and her staff to create a custom, ultimately personalized product that would create a bond between the customer and the store or, in a more conventional manner, buy a pie off the shelves lining the walls. Would this work? Would the pie shop be more profitable this way than as a regular pie shop? I have no idea, and that’s the point. These things need to be tested in order to be known. But with testing, comes costs. In this example, there would be a very large outlay of cash to move the store around to different configurations and different moods. And then, as Bastiat said, there is the unseen. How much profit is given up by doing this test? For a small operation, if you guess wrongly you can go broke very quickly. That’s what I mean when I say Gerber doesn’t address this issue. How is the entrepreneur to know which way to go? In the end, I guess it just comes down to the vision of the entrepreneur. Some will be successful and some will fail. You may be able to increase your profitability following Gerber’s techniques, but if your basic vision is wrong nothing will fix that except you.