It has been two years since I wrote on this site. Just reading through the last posts I can tell how I’ve personally grown and best of all I now have gone through my first acquisition (which means I’m now a successful “Webpreneur”). Over the coming weeks and months I hope to share some of the lessons I’ve learned from building a digital media company including those that I’m continuing to learn as I become integrated into the new company and continue scaling the business.

While I won’t be covering news anymore on this site, as you can get all the news you want on Social Times and AllFacebook, I will be attempting to post on at least a weekly basis if nothing else. As I gain more time (which is hard to find), I’ll be sure to update this site. One thing that I’d like to include is an update to a post that I wrote in June of 2007. At the time I wrote a post titled, “Can You Make a Living Blogging?” At the time there were still people wondering whether it was possible.

The reality is that the space has become increasingly accepted by advertisers, however the business model of blogging does not come through a single revenue stream. If you want to know one of the most important lessons I’ve learned through the process of building Social Times Inc., it’s this: build multiple income streams as fast as you can.

Is it possible to live off of advertising? Possibly. Is it likely that you will? Not at all. That’s why I launched a conference (Social Ad Summit), started an online school (New Media School), and have published two ebooks through AllFacebook. For the first six months of building the company I also didn’t really sleep. So the lesson is this: making a living off of “blogging” isn’t easy and if you are depending on a single income stream you are shooting yourself in the foot.

While I could go on and on about the most important lessons, I’ll leave this post having only articulated a single lesson: whether you want to build a digital media company, or make money from a single blog, you need to generate as many income streams as quickly as possible. If you happen to be fortunate and have a lot of cash in the bank, congratulations, but for the rest of us, building multiple income streams quickly is critical to making the complete transition over to living off your blog(s).

I’ll go into more details about strategies behind building a “digital media company” in later posts, however this is a great way to kick things off! If you find anything isn’t working on this site, please let me know as I’ve upgraded from a wordpress that was 3 years old. I’ll be upgrading this site in due time!