This is a FT project for me (and a huge passion project as well). I am lucky in that I have had several business exits and I can afford to work on this without worrying about the money. That said, I need to eventually build a business around it because I do have costs for the amazing developer I work with, the amazing designer, and a few PT people that help with data entry. And, I'd like to accelerate development with the money the site generates.
For the next 3 years my focus is on growing the content, features, and traffic.
In the short term I have affiliate links to Amazon and Bookshop.org. I am not sure that will be enough to create a sustainable business but I should have more data within 3 to 6 months to know how that is going to play out.
I have some crazier/wild ideas I want to try eventually, but those require a lot more traffic. For example, I'd like to try putting a book ad in between books 4 and 5 on every book recommendation page, and see if that is a good model (the idea being like Google PPC to do book ads on specific topics and thus a higher CTR / interest from readers). I'd like to find ways to help authors make more while I also am making more. Such as autographed book sales, selling posters/art related to books and trying to monetize some of their IP more, and so on.
I am also playing with the idea of doing a Kick Starter or similar where I match what readers give to help get this going a little faster and giving a group VIP status within the site.
Thoughts?