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Seeing Success with Side Projects - Luke Jordan

Seeing Success with Side Projects - Luke Jordan

A rough blueprint for growing a successful niche site, whether you're going solo in your spare time or if you're an agency looking for a new revenue stream.

Presented at DRINK :// Digital on 26 May 2022

https://twitter.com/lr_jordan

DRINKDigital

May 31, 2022
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Transcript

  1. Seeing Success
    with Side Projects
    something something niche sites
    and other useful tidbits

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  2. new speaker, who dis?

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  3. The crazy world of casinos

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  4. Advantage play means you have a
    long-term edge.

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  5. To know whether you have a long-term edge,
    you need to understand Expected Value (EV).

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  6. I used to have a casino slot simulation tool to
    calculate EV of specific bonuses.
    Deposit: £200
    Spin size: £5
    EV: £52
    Bust Rate: 93%

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  7. Short-term, we have a very high (93%)
    chance of losing.
    Long-term, we should be in profit.

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  8. If I bet you £10 that I land a coin on heads,
    but you only pay me £5 if it lands on tails, do
    you take that bet?

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  9. If we flip the coin 100 times, you should be up
    £250.
    The EV of each coin flip is therefore +£2.50
    for you (and -£2.50 for me).

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  10. On my casino example, I had a high chance
    of losing £200, but if I could do the same offer
    100 times, I should be up 100 x £52 EV =
    £5,200.

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  11. Why have I just wasted 2 minutes of your life
    talking like a degenerate gambler?

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  12. To build a successful niche site, you have to
    invest time at a minimum.
    For 99% of people, that time isn’t going to
    pay-off in the first 12 months.

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  13. …but if you find a good niche, the EV of
    building a niche site is highly positive.

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  14. In the world of advantage play, I used to
    speak a lot about “taking EV”.
    Taking EV is like delayed gratification. The
    more EV you take now, the greater your long-
    term pay-off will be.

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  15. You could put your time into work and get a
    promotion, paying £10k/y extra.
    In a year, you’re up £10k.
    On a niche site, you might have earned next
    to nothing in your first year.

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  16. But after 2 years, you might be earning £2k
    p/m from your niche site.
    A site making this amount consistently would
    be worth ~£90k in the current market.

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  17. The EV of publishing a single article might be
    very low, but it adds up once you’ve reached
    100 articles published.

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  18. EV applies in life too.
    How many extra days will you live if you do a
    workout today?
    The EV of a single workout is very small.

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  19. I might bust my casino offer, you might fail in
    your niche site, and we might get ran over by
    a lorry on the way home from the gym.
    But all of our decisions were +EV and should
    pay off long-term.

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  20. A blueprint for building
    a successful niche site

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  22. A niche site is a website of close-to-100%
    informational content (in my opinion) and you
    make money from the content itself.
    They’re typically monetised with affiliate links
    and display advertising, but you have other
    options too.

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  24. What is an example of a good niche?

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  25. A good niche is something that:
    - Allows you to write at least 50 articles
    about a single topic (preferably more)
    - Gives you similar related topics to write
    about in future
    - Has an audience of people with money;
    US-based adults is the go-to target
    - Will be unlikely to be the target of future
    algorithm updates
    - Is not competitive

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  26. A low competition niche is a potential
    goldmine - keep it secret if you find one.

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  27. I’ll gladly teach you how to mine gold.
    I’ll occasionally share how much gold my
    team mined.
    But I don’t want to hand you the keys to my
    mine because finders keepers.

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  28. The truth about niche site Twitter…

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  30. This game is 50% niche selection and 50%
    consistent output.

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  31. It’s not enough to write 5 articles, give up for
    18 months and cash in your profits afterwards.
    You (likely) won’t rank.

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  32. Most people start by writing 1-2 posts per
    week themselves.
    The most successful people in this space do
    this every week, every month, and have 50-
    100 articles live at the end of their first year.

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  33. Every article focuses on extremely low
    difficulty keywords (usually no competition).

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  34. I used to have keyword research all wrong.

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  35. All you need (as a minimum) for a successful niche site is:
    - A good niche with lots of low competition keywords
    - A fast website
    - High quality, optimised content

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  36. My friend’s site is up for sale for $800,000.
    He targets keywords with a maximum Ahrefs
    KD score of THREE!
    (but does have over 1,000 articles)

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  37. To get the best long-term results, I believe
    you need to aim for more.

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  39. There are levels to this game.

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  42. But there are also levels within levels.
    Some sites publish 50 posts per year.
    Some publish 5,000.

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  43. My one site currently has around 15 writers,
    mostly part-time, and 2 video content
    creators.

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  44. Most sites don’t need 15 writers.

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  45. Our current aim is to have 125 posts going
    live per month.
    For most niche site operators, 125 posts
    going live per month would happen across a
    portfolio of 4-5 websites.

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  46. The difficulty of publishing 125 posts across 1
    site vs 4-5 sites is pretty similar.
    Having 4-5 sites is also lower risk and you
    sound cooler when you say you own a
    portfolio.

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  47. But the difficulty in scaling and turning 4-5
    sites into real brands compared to 1 is night
    and day. And day is still hard.

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  48. Don’t put all your eggs in one basket…
    …but the first step is to get eggs.

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  49. It’s totally fine to work on one website and to
    only publish once per week.

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  50. To get started with a niche site, you need to:
    - Research to find a niche with a lot of potential
    - Look at other niche sites - go to sites like Investors Club to find real sites for
    sale and see what they did
    - Buy a domain name that doesn’t limit your potential
    - Get a basic site live and start writing and publishing articles consistently

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  51. The EV of an article

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  52. On a new site? No idea.

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  53. If you have an existing site, you can roughly
    calculate the EV of writing an article - or
    paying for articles to be written.

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  54. 50 articles on subject X, <5 KD, 150,000
    views per month, $3,000 at $20 RPM.
    50 more similar articles.
    Cost $150 per article = $7,500.

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  55. 12 months to rank
    2 year profit = $28,500 ($570 per article)
    $3,000 per month extra =
    +$120,000 on site valuation
    $120,000 / 50 articles =
    $2,400 per article
    EV per article = ???lots???

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  56. bye

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