A reader sent me the following question recently.
Q – I have been doing research on supplemental income for sometime now and job boards have sparked my interest. I have been watching your YouTube videos and came across one where you noted that a job board is not a good source of income for at least 1 or 2 years after starting it. My question is during that time frame of building an audience will the site make money to cover the cost of operations or should someone expect to be fully in the red for that year or two?
A – Your only cost is the cost of the software on a monthly basis for for example Smart Job Board costs $299 a month. You can break even on that in the first year through revenue sources like backfill, advertising and affiliate income. WordPress options are even less costly.
Much depends on the niche you are going after…some take longer than others to gain traction. If you are entering a competitive space with lost of other options (i.e. tech, healthcare) you are less likely to make much in the first year or two.
Profitability will also depend on how good you are at omni channel marketing of your site. Generating traffic and leads takes time and effort. Becoming adept at promoting your site will be key for future success.