Marc Andre is personal finance blogger who writes at Vital Dollar. He’s been a self-employed internet marketer since 2008 and prior to that he worked for a few years as an auditor and in other finance fields. He really got into his groove with internet marketing and has some interesting views on using your hobby as an investment tool.
[:] Making money online seems like it’s really straight forward but unless you know what you’re doing it can be really tough to stick it out. You’ve managed to make money from one of your hobbies (photography) as well as a side hustle as a web designer. Can you tell us a bit about your story?
- Started online back in 2007, based on web design
- Started as a portfolio site to find some clients
- After a few months, Marc discovered he preferred the blogging aspect
- Had lots of ad sales and affiliate marketing sales
- Naturally it led to photography
[:] You’ve managed to build and sell multiple six figure blogs, we have a ton of PF bloggers who listen to the show, what exactly does it take to get your blog to a level that is worthy of selling?
- Any blog that is monetized is worthy of selling
- The valuation is typically a multiple of the average profit per month
- Sold blog a few months ago and got a high multiple, definitely a sellers market at the moment
[:] Once you have some traction online how exactly do you go about selling a website or online business?
- Easiest way is to go through a broker
[:] Instead of investing only in traditional assets like stocks or bonds, some people are now growing their net worth through online businesses. Do you think this trend it going to continue into the foreseeable future?
- The market is hot right now and buyers have been unable to get what they want
[:] Value Link Round
Check out Katie’s round up post on what you should do when you get out of debt- https://www.chainofwealth.com/resources/experts-share-what-you-should-do-after-you-pay-off-debt/
[:] What is your saving or retirement plan?
- Contribute as much as possible into 401(k)s & IRAs;
- Lower Taxes
- Main strategy to get money in is through Marc’s business
- Income fluctuates as single income from business but he and his wife keep their expenses as low as possible
[:] Do you have any other books or podcasts you can recommend?
- Do You Even Blog
- The Money Peach
- The Side Hustle Show
[:] Parting piece of advice?
- Stick with it and keep going