If you take a look at the personal finance blogosphere, you will find that many pf bloggers have published their long-term goals and many of them are using one million dollars as a target. The one million dollar mark is a popular goal and a good measuring tool to show how far you have come and how far you have yet to go.
Financial success is determined by many things, including setting goals, budgeting, saving money and increasing your income. Pf bloggers are actively working on these fundamentals all the time, and perhaps most importantly – they are working together sharing their ideas in conversation with their readers and each other. When a new idea comes along, many of the pf blogger are quick to implement the idea to increase their wealth.
Many of the pf bloggers are also actively working on creating multiple streams of income and several are becoming Internet entrepreneurs. Last week, Moolanomy even suggested pursuing multiple income streams as a career.
Blogging has becoming a career path for the top pf bloggers that have quit their jobs in the last few years to become full time bloggers. Professional blogging is further solidifying itself as a new market with supporting services, like www.ProBlogger.com and many blogging tools like, www.Technorati.com and www.feedburner.com.
Blogging has many challenges and there are many things to learn with technology constantly changing, but if you are in the right position at the right time – then this is perhaps a once in a lifetime opportunity.
New Business Model
Gone are the days of building something in your garage or starting a ma and pa shop on the corner. Wal-Mart and outsourcing has eliminated many of these business models. Blogging is perhaps one of the best business models of this age because it has a low initial cost with complete freedom as to your time investment, with flexible hours, no commute and you can work from anywhere. Bloggers don’t need employees, or an office building or supplies. All it takes is knowledge and creativity. Blogging is the perfect job for knowledge workers.
Blogging also creates opportunities to get to know other professionals that you can partner with to pursue other business adventures. As the Internet grows up, bloggers are keeping up with the changes and continuously on the lookout for opportunities. Someday, having your own blog may become a requirement when applying for a job.
If you want to be part of the next generation of millionaires, then perhaps you should start a blog. The millionaire next door just may be a blogger.