I still don't quite understand what kind of site qualifies.
To make money, a site is either going to:
- sell a product (amazon, microsoft, etc)
- sell services (irish times, statcounter, porn, gambling, blanknight etc)
- or make money through advertising, probably adwords. Which really falls into the selling a service category - advertising space.
I am trying to identify sites where there are no costs apart from the development of the site itself.
A few people have asked my views on their ideas for new websites. My view is that it is very difficult to make money from a website aimed at the Irish market. I find it hard to think of many websites which do make money.
Hi Jonathan
Some more very interesting comments there.
The problem is that what might look amazing to one person, is offputting to others. A lot of people have suggested that we need to "spice up" askaboutmoney, but they miss the point that the objective is to have a clear site with as little "noise" as possible.
Agree. I found The Motley Fool to be a great site and suggested that they should set up one for Ireland, but they said we were too small. So I set up Askaboutmoney instead.
It could be, but the objective is to be an advertising-free discussion forum. Its objective is not to make money.
What I am trying to achieve in this thread is to identify the profitable sites and then identify why they are profitable. So when people ask me about their great new idea, I can say "Well study these websites and see why they are a success. Then look at some of the failures and learn from their mistakes."
I am surprised that I have not seen this discussed before. It could be very useful to a lot of people. There is a lot of stuff around about how to develop good websites but they tend to be aimed at businesses which have a product to sell.
Motleyfool: I'm pretty sure their wrong - there are 4 million people in this country and at least 1-2 million should or do care about personal finance - but that could be conservative, especially in this recession. I agree if it concentrated only on stocks and shares then perhaps the market is too small.
Jonathan - that was 10 years ago.
Maybe we will extend Askaboutmoney to the UK?
Obviously quite a large difference in the functionality of the site and on the 'networking' element to that of LinkedIn, but if you've not come across [broken link removed] you might find it of some interest. It's the closest thing available focused specifically on Ireland at the moment and provides many of the benefits you mentioned (the offline networking is really down to the individual users to drive in their locality, but it can/does/has happened in many locations across the country to great results).
how does Muzu generate its income? If it's advertising or subscriptions only, then it's in.
If their only revenue is advertising or subscriptions, they are in.
I am trying to identify sites where there are no costs apart from the development of the site itself.
I know of a site (bandauction.net) where revenue is not from advertising or subscriptions, but from commission. To my knowledge, there are no costs other than the cost of the site development.
I think it's quite likely onlinetradesmen.ie is making money or at least will pretty soon.
The guy who talks tech on George Hook on Monday evenings has a site called Putplace.com for backing up and organising digital content.
Any good?
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