I am feeling slightly defeated about my website's slow revenue growth, which I launched in July 2012. Here is a quick break out of my yearly revenue so far: July 2012: $5K 2013: $45K 2014: $100K 2015: $165K (estimating) I put all my free time into this website. This is a side business for me as of now but my goal is to have this be my full-time job. At $165K there is not enough left over to pay myself a salary at this point. I need to reach at least $500K-$1M in revenue, but at the current pace it seems like I never will. How can I increase my website revenue growth at a faster rate?
That depends on how you're generating revenue now, honestly.
Is this a product? Monetized content (ad revenue)? Subscription?
Of the many ways to increase revenue, the two that are probably most actionable are:
1. Increase your number of customers.
2. Increase the lifetime value of each customer.
Without knowing anything about your model, it's very difficult to offer useful suggestions for going about this.
I've worked with hundreds of clients on growing online revenues, so I'd be happy to offer insight for your site — let me know if you'd like to discuss further.