Blogging is an incredibly liberating experience if you’re a creative person. The ability to generate content that is informative and can help your readers and share your personal story brings writing at an entirely different level. However, if you’ve been blogging for a long time, you might want to consider the possibility of transforming your blog into a business. Indeed, aside from a tax advantage perspective – the taxation system differs for freelancers and companies –, moving to a business environment and structure can allow you to grow your blogging activities and to explore new horizons. However, with a business come new responsibilities, new strategies and, of course, new questions to address.
A business, what for?
It can seem strange to turn your blog into a business, especially if you’ve always thought of blogging as a hobby. However, modern society is a lot more supportive of creative types, and therefore creates a room for blogging businesses. Several bloggers and video bloggers – vloggers – can make a decent living from their passions. One of the secrets of successful professional blog activity is to write essentially about topics you know to bring a new perspective or new information. This drives traffic and improves your credibility. More importantly, setting a business gives you the opportunity to meet new partners, explore new topics and become an influential presence in your niche.
Will you need a team?
It can be difficult at first to decide whether you need a team or not. Admittedly, it’s fair to say that you won’t be able to build growth without a team of experts, from technician support to social media manager. In other words, if you want to expand your revenue and market presence, you will need to work with a team. As your blog evolves, you might also be interested in looking for an intern through Arch Apprenticeships or taking on a graduate to teach them the basis of your company. From a practical perspective, hiring new employees, you can mentor lets you keep a youthful and dynamic team.
Remote or in an office?
It can sound surprising, but while most bloggers are remote or home-based freelancers, blogging companies tend to share a common office space. The reason for this difference is that your creative business is built on the constant exchange of ideas, emotions and visuals. Your team will be more comfortable working in the same room! Additionally, having a physical address can be advantageous if you are planning to invite clients, such as brands interested in leveraging your blogging network for their marketing strategies.
Tackling your business duties
Finally, if you haven’t done it until now, you need to create a separate bank account for your business. Indeed, the financial assets of your company exist as a sole entity, which means that you are not expected to pay your business expenses from your personal account. Consequently, you need to establish an organised bookkeeping strategy to ensure you can manage two separate accounts – yours and the business. This will make financial matters clearer for the HMRC.
Turning your creative blog into a profitable business requires adaptation. Indeed, you need to start running your site like a company if you want to keep it alive.