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As Tony said, I would look to build content and traffic before looking into monetising the website. Whilst it should always be in your mind and allow you to direct your process to facilitate advertising in the future, the key focus at this point should be creating a sustainable and progressive base of consumers.

In essence you’re selling the eyes and ears of the traffic, this is your commodity. Without said commodity, it is unlikely that you will be able to generate value and command a premium.