I think an idea like this could work, but only if the blogger has some serious reputation. It would take a lot of trust for someone to put their money into something like that when they could spend the same amount advertising on a well-established blog.
An idea like this would not only have to be planned very carefully, but also presented to the sponsors the right way that actually convinces them this is a good idea.
If anyone asked me to put my money into a blog like that, the first thing that would come to mind is "this is super risky".
I think we are talking two different things so I will try to do an Example here.
Dawg, I hope you do not mind that I use you for this example.
You have sold me banner advertisement for $39.99 for a year
You have also sold me sidebar advertisement for $19.99 for a year.
Now I would like to advertise this new site that I just acquired and I would like to advertise it on a blog that is about "on this day in history." Because I feel that the people that read that might also want to check out my blog.
Now you have $60 worth of ads sold for that blog.
Would you start that blog for me for that?
You can still sell more ads to other people. You can still put your affiliate ads on the blog and so on. Just like you do on any other blog that you have.
Now here is the big questions.
How much of your startup cost for this blog did I just cover with that $60.
Did it cover one year of hosting?
Did it cover enough to buy a domain name?
Did it cover the cost for a nice theme?
Did it cover enough for the first 20 pages of info to get the blog going?
Did it cover enough for you to hire someone to submit it to 500 directories?
Now if Dawg say yes.
What did I as the buyer get?
I just got 20 pages of relevant backlinks to my site along with 20 banners ads for a year. Plus every time a new post is added I would get more ads and links my guarantee is the first 20.
This what he was explaining to me when he said "sell it first then build it."
Now I do Not have to wait for my first $60 from AdSense before I start to break even. When the site goes online I am already going to be making money, for the cost of the site has been covered.
If I would have two people to buy ads the site would already be money ahead before it even went online.
Sami, that's true. But like vectro mentions, the blogger should have a good reputation already. Since he might give up blogging after 3 days etc. stop paying for hosting after 2 months etc ;)
And those reputed bloggers who are making a super-awesome new project will overcharge IMO. Since when you're buying in advance, you're buying something that virtually isn't there yet.. But I see the point in your idea ;)
No problem using me as an example.
Yes, I have Sami and a few others who were happy with their advertising they got from me.
When your blog is updated almost daily and all the posts are indexed in google, there is some good traffic and backlinks.
This is something I read not too long back.
And it is this:
New blog or site?
Don't sell or have advertising on it for the first month.
From what I gathered from the article (tried searching for it, could not find), doing this makes google look at your new blog/site in a better light and will help rank it a bit higher and faster than if you had all kinds of outbound links.