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I'm also thinking about Google ads--something I will discuss with the accountant this week, but I would like your feedback on that as well.
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I wouldn't know how to make the math for google ads, since I have no idea what your keywords are worth and what click-through-rate you can except.
Overall I would think that Google Ads are good when you give your content away for "free", but I wouldn't like Google Ads for people who pay for the site.
If people pay the except the to get no ads.