I have also instituted a fairly unique compensation scheme for the contributors based upon views with a profit sharing component as well. Ultimately, should the blog ever be sold, the contributors will also share in at least half the proceeds.
I doubt any business typically gives up that much upside, but I am more interested in seeing if the combined efforts of many can build something much greater than the efforts of a single individual. I am operating on the premise that daily content will prove to be a big asset to the blog even though it would be impossible for me to write on a daily basis.
I suspect it will take a few years to realize the full potential of this arrangement. My biggest concern is the loss of contributors as the level of interest wanes. I figure that I will lose some and will have to replace them. I am hoping not to lose more than half.
Goals
I would have liked to see 2,000 visits this first month as a major stretch goal. However, the pace will have to pick up quite a bit. I am thinking that 1,500 will be more realistic and even then, we will have to get some more traffic. But being only 10 days old means that there is still lots of time left for marketing.
I would then like to see the traffic grow each and every month as daily content is added. I would like to be able to pay an author for an article based upon views by the end of the second month.
I am pleased to say that the site has already made a little with AdSense. I figure it will take about 3 months before I can cover the initial costs. After that, profit sharing should kick in so that at least the authors are making some money.
I have placed the RSS feed on the right margin since for my personal blogs, this blog is a major source of traffic. I trust that this will prove true as well in these early days.
The URL of my latest project is: PennyThots.com
Please feel free to comment and let me know your thoughts on the site.
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