If you run a niche site or at the very least provide content for a niche site, it is imperative to stay informed in the industry that you are involved in. While there are 100’s of ways to do that, and perhaps using multiple ways may be important, let me walk through one such process here today.

And while I am at it, I thought it a good idea to show you how you can make money with this approach too. Now, please keep in mind that in this case, to make money you will have to spend a little. However, putting the paper together can be done free of charge.

Paper.li

Gather the sources

Now, the first thing that you want to do is find the leaders in your industry. You probably know a number of them already, but searching the main keywords in your niche in Google will no doubt locate some more.

What to do here is look at the web sites and blogs of these individuals, teams and companies to see if they provide any value. Then, if so, head to their Twitter account if they have one (and they likely will if they are an influencer in the niche.. Get a feel for their Twitter accounts. Their number of followers isn’t necessarily important because they may have just started. What’s more important is their tweets. See if they provide value and if they are recent. Make sure it isn’t just auto-tweeted garbage being added to the feed. Plus, if they aren’t using a real name or business name, and just trying to target a keyword, they probably aren’t someone worth following (with rare exceptions..

1. Follow the leader. In other words, click “follow” on their Twitter profile.
2. Add them to a Twitter list. Select the “head icon” next the follow button and choose “add or remove from lists…”

Create the magazine

Now that you have a Twitter list loaded with the top experts and leaders in your niche, it’s time to build a paper beased on the content that they share on Twitter. This is the fun part, especially if you are truly passionate about the niche you are following. You will be presented with a special newpaper loaded only with content that you enjoy, and that you can add and remove the sources for at will.

1. Head to http://paper.li/
2. Click “sign up / log in” from the top right
3. Choose Twitter
4. Click the blue “Sign in” button to authorize Paper.li to use your Twitter account
5. Enter your email address and decide if you want to receive occasional emails from Paper.li with tips and new features
6. Click “Next”
7. Click “+ Create a paper” from the top menu
8. Choose “Custom paper”
9. Choose a title, description, and update frequency (daily edition, morning + evening editions, or weekly edition. for your paper
10. Do a search using the name for your list in the format @user-name/list-name
11. Click “+” next to the list that it finds under the “TWITTER LISTS” heading

Clearly there are a ton more ways to pull in content for your paper. You have the options to follow people on Twitter (directly without first addding them to a list like we did. or Google+, use a Twitter hashtag, do a keyword search on Twitter, Google+, or Facebook, look for RSS feeds by URL or keyword, or select from featured sources (CNN, Reuters, Rolling Stone, Gawker, Wired, NHL, National Geographic, and others..

12. After adding all of your sources, or just the one Twitter list that we created, click “Done”

Your paper will then be processed and created.

Making money from your paper

Upgrading to the Pro Paper.li account allows you to add advertisements throughout your content. Of course, you can get your own content within the paper using the free method, but for $9 per month you can also add niche-ads into the mix to make money with it. Then, on your niche Facebook page, if you have one, you simply send traffic to the paper each day that it gets updated.

With the pro account you can also send the paper out as an HTML newsletter, plus you are able to add a logo or banner to the top.