Monday, April 30, 2012

The Gentleman's Competition Winner Is...

Highlights:
  • I won "The Gentleman's Competition"
    • Net unfinalized winnings: $151.76
    • Winnings will be collected on the 15th of May
  • 10^6 income streams discussed
    • Current income streams
The Gentleman's Competition
And the winner is..... 10^6! After a month of commenting on other blogs, seeking followers, and posting 10^6's blog link on numerous forums to drive legitimate traffic to the site, I won the Gentleman's competition between 10^6 and The Food Pat Eats blog! You can see the final numbers below.

I won by a relatively small margin:
Pat -- 858 views
Will -- 1750 views

Pat did have the odds stacked against him. I had been blogging for almost 3 times as long as him, and on top of that 10^6 had more followers from the start. This didn't deter Pat though, and he accepted the terms of the competition. A few minutes ago I contacted Patrick and told him that he lost the competition. Upon asking him how he felt, he said (and I quote):

"I'll just chalk this one up to my diabetes." -- Pat

Pat fought hard, and halfway through the month he was winning the bet by the slightest of margins. That was when I kicked my efforts into overdrive and started posted my blog link all over the web. In the end, I did win and walk away with all of the month of April's winnings. Which can be seen below under the "This Month So Far" column.

10^6 Income Streams Discussed
Recently, I have been looking at the current, steady income streams that 10^6 has. When you remove some of the odd jobs I've done around the Internet for 10^6 it boils down to the list below:

  • Hub Culture
    • I am still using Hub Culture to drive traffic to 10^6 as I discussed in an earlier post. I get paid anywhere from 80-90 cents a week just for being an active user on the site. The only draw back is that as of yet, I don't see a way to turn Hub Culture currency (Ven) into US dollars directly. I can purchase commodities using Ven, (gold, silver, platinum, etc.) but would need the equivalent of 100 USD in my Hub Culture account to do so.
  • Superpoints
    • As of yet, I haven't seen a dime resulting from the offers/tasks I've completed on the Superpoints web site, but that is because I haven't reached the site's payout limit yet. I'm confident that at least once monthly (maybe sooner if I can get more people to join -- hint hint), I'll receive at least one 10.00$ payout resulting from the work I've done.
  • Buying and selling items
    • With the success of buying the Apple Airport Extreme from my friend Ian, and then selling it on eBay, I have realized that 10^6 may need to focus on this idea more heavily in the future to make a steady income stream. (Maybe I'll open up a pawn shop if I become good at it!) The work required to make a significant profit is minimal, and with the advent of the Internet the availability of low priced, used items (e.g. craigslist) is huge. These items can then be resold at a higher price on websites like eBay.
  • Blog Ads
    • Google AdSense provides one of the strongest and most predictable sources of income 10^6 has. I essentially get paid for something I'm already doing -- writing on this blog. In 2 weeks I should receive my first payment from Google, and I expect it to be in the 200$ range. If I could even manage 100$ a month from ad revenue that would make getting the the all important 1,000,000$ mark a lot easier.
  • Donations
    • You read that correctly, donations! Once every so often I will receive a donation for 10^6 blog. Most of the time donations come from a Hub Culture users who read my blog and decide to throw a few Ven my way. Most recently though, it came in the form of a Paypal donation from a fellow blogger who goes by the name Pip. Pip writes a blog about music and other assorted topics seen here, and was actually the one who turned me onto Superpoints. 
    • In short -- Yes, 10^6 does accept donations, and like the people at Starbucks they are graciously accepted.
All of these income streams require little to no work to return a significant profit. For that reason, they are each a valued asset to the blog. In the next few months, I will attempt to augment these income streams so that I can make as much profit from them as possible.

Summer break will begin for me in a few days which means that I will have much more time to devote to 10^6 blog. I'll be posting significantly more and hopefully be making a lot more money for the blog as well! If you have any ideas for what I should do with the AdSense winnings from the gentleman's competition please post your idea below in the comments!

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