Since I started this blog, I have talked about why I believe that multiple streams of income is the best way to accumulate wealth and why I want multiple streams of income.  To meet my goal I have used this personal finance blog, my dividend income portfolio, my very small law practice…and now my newest website, Pregnancy Pool.  Pregnancy Pool is free way to involve family and friends with the birth of your child by letting them guess when the child will be born, his or her weight and his or her gender.

 

First Steps In Creating the Website

Find Website Market Inefficiencies

The first step was one I stumbled upon inadvertently, it had to be determined whether there was a market inefficiency.

I was out for dinner with a buddy and his wife.  They were expecting a child within the next and since they know I like almost anything to do with gambling and I can create websites they asked if I would set up their baby pool.  Of course, I said “Hell Yea, buddy.”  With a full stomach and a few beers in me, I searched for “Baby Pool” “Pregnancy Pool” and other similar terms.  There were websites but they were either horrible looking or weren’t free.  So I created a makeshift option on one of my other domains.  It worked out beautifully, and I thought to myself I can’t be the only one searching for this service, and dissatisfied with the options out there.  So where do I go from here…

Create the Game Plan

The next step was to create a mind map.  In the particular mind map the first step was:

Create Website

Kind of a big one huh? Well first thing is first, I had to choose a domain, I tested out a bunch on family and friends and came up with Pregnancy Pool.  I then purchased the domain and a hosting plan.  This was all done for under $60 for the year.

Next up was the hard part – the back end of the site.  I was insistent on creating it myself, I mean I run this awesome blog, how hard could it be?  Well I found out quickly it was above my head.  At that point I had to determine whether it was cost feasible to create the website with a budget of under $1,000.  Why $1,000? Anything above $1,000 I would have to really determine the idea’s profitability under $1,000 I could take the reasonable and calculated risk.

I contacted a ton of US web designers but I was looking at minimum of $2,500 and a maximum of $10,000.  Woah, this is a simple website there is no way that it should cost that much, but after my 18th phone call with a web designer I remember reading 4 Hour Work Week and Tim’s love for freelancers.  I quickly got my copy and re-read his tips for using them and where to find them.

I signed up for an account on with ODesk, which lets you post your job for free! I made requirements specific and made it clear I wasn’t paying anything until I had the basic site set up.  After weeding through what felt like a hundred guys who had questionable English skills and had no idea what I was looking I found my man, Ravi!

We worked together over the course of 3 weeks to get the site up and running.  While I hired another free lancer to apply a theme and get the overall look, I still go back to my man, Ravi for little changes which I send over a $10 or $20 depending on the bug.

If you were wondering about that cool Pregnancy Pool button it was designed by the guy who did My Journey to Million’s logo and countless others throughout the personal finance blogging world, Peter from Bible Money Matters and Logos for Websites.  If you’d like to add a smaller version of the cool button to your site feel free to use the code below.


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Crystal from Budgeting in the Fun Stuff and anti-Evan sentiments was cool enough to throw me a spot on her great blog.

This post probably explains why I recently wrote, Get off Your Ass and Follow Through with Your Business Idea! Next time I will go into how I am promoting the site and the monetization aspect.