Be Prepared to Change Strategy At Any Time
I had quite a shock last week when Ben Cook from Blogging Experiment decided to cut short the year long experiment and sell the blog. It made me think about the ways in which I have changed my own strategies recently and we all need to be prepared to change when things are not going to plan or when circumstances change.
Expect New Opportunities
Ben’s experiment was a challenge to himself to develop a blog and monetize to the point where it would earn $5000 a month and he set himself a one year timescale for its achievement. As he explains in his post, two new opportunities arose for him as a result of the experiment and he simply did not have enough time to dedicate to them all. He felt that he needed to let go of the blog in order to make the most of the new opportunities.
Unlike Ben, I did not have any plan laid out for myself when I quit my job so I knew that I was going to have to keep a strong eye out for opportunities. As a result, my blog has evolved in ways I did not expect. For example, before August of last year I had never even heard of social media and yet it has now become a focal point of my daily work.
With opportunity comes decision. Often when you open your eyes and look there are a great many opportunities all around us but we can rarely find the time to work on all them. We have to pick and choose how best to spend our time.
Let Your Motives Drive Your Strategy
Do you ever get that nagging feeling that something isn’t quite right? You feel yourself feeling somewhat overwhelmed? That is an indication that you are trying to take on too much and you need to change your strategy and focus on what is important. I suspect Ben has been feeling this for a while.
We all have limited time and for those of you working at this part time while you still hold down day jobs, it is even more important that you focus your time on projects that fulfill your desires, whatever they may be. This is where you need to look at your motives for your work.
A common motive is of course money - many of us do this to earn a living and therefore want to focus our time on activities that generate revenue. In my case, I want to be able to sleep at night too so maximising profits is not always the primary motive.
So what are my motives? I have a burning desire to build assets and not just generate revenue with a model that doesn’t create anything. What do I mean by that? Well take affiliate marketing for instance - there are people that pull in literally millions of dollars a year with affiliate marketing and thats fantastic but they are not building anything or providing any value. I don’t want to do that. I want my work to have a lasting effect in some way.
My Strategy Changes
When I got to the 6 month mark I did some serious soul searching and I finally let go of the need to be developing software as part of my job. I used to be a software developer but don’t think of myself as one anymore. This was a hard decision to make yet it freed me to be able to concentrate on Internet Marketing which I am really enjoying.
I thought that I had learned a lot over the last few months but I can see that the more I know the more there is to know. I now have access to no less than 7 premium membership sites! This is great but the downside is the sheer time it takes to work through it all. Also, as I discovered way back in my first month in business, you don’t pay the mortgage by spending all day reading!
As a result, I have had to make some serious cuts in the time spent on activities that don’t directly drive me towards my goals. One of the first to go was the blog commenting. I was spending an hour a day at least commenting on blogs and to be honest, with my readership where it is now the traffic was not making enough difference to justify the time spent. Last week I cut down the blogs in my feed reader to less than a dozen of the blogs that I just love to read. I rarely comment though unless I just can’t help myself :-)
I also unsubscribed from virtually every newsletter that I was subscribed too. I have about 4 left now and my inbox is much more manageable as a result. Most of them were nothing but pitches and gave me no value whatsoever.
I’m still finding myself pushed for time and this week I have been mulling over my remaining time sinks. There is one major time sink that I need to evaluate - this blog! A while ago I decided to organise my posting schedule a little better. Ben Helps gave me about a week and a half to stick to it and I didn’t even last that long!
What I need to decide, is what I am trying to do with this blog. I have always stated that its purpose is to document my journey as I learn how to make money online and yet it has become a force of its own taking up so much time that I can no longer work at my asset-building projects! The blog itself doesn’t make much money and its never been my intention to heavily monetize it. Sure its nice to see the RSS numbers rise month after month but as I have said before - all this does is stroke my ego!
Stefson asked me if I was worried if my numbers went down and I told him that I wasn’t but in my reply I expressed my concern about my lack of time to diversify my income. So after that I started to ask myself what would happen if my numbers went down. What would happen if I only wrote 3 or 4 blog posts a week (or even less!) and I lost a lot of subscribers? If that allowed me to spend more time working on my projects such as content for my StumbleUpon course and working through premium material that I have paid for then that is a sacrifice worth making.
One of my motives is to have a popular blog but that’s just a girly thing - all the girls want to be popular don’t they? But popularity doesn’t pay the mortgage. Once I’ve built my assets and have lots of nice streams of revenue coming in then I can slack off my main work and spend all day blogging but right now I have to pay the bills first.
The Guest Posting Dilema
One thought that immediately sprung to mind was that I could allow guest posters to blog here on occasion. I could have a weekly guest spot for instance. I have been approached by potential guest posters countless times so I know there is no lack of willing bloggers out there.
The question is, how would my readers (yeah that’s you!) feel about it? Personally, it makes me feel slightly uncomfortable because this blog feels like my home and I can do what I like in my home and I can say what I like on my blog. However I would feel weird about letting a stranger into my home and I still feel weird about having guest posters.
On the other hand, its also somewhat arrogant to assume that you all subscribe just to hear me rant about sleazy sales letters or whatever. Its probably also fair to assume that some of you subscribe for just the resource style posts and don’t particularly care for my personal opinion on things. Those people would probably quite like to see some quality guest posts.
At the end of the day I cannot guess what you guys like so I need to leave it you to tell me.
[poll=2]
I’m going to be leaving this post up for a few days to collect poll votes.
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Mark Mason
April 4, 2008
Caroline — your REAL tangible asset will be your email list. Stay the course. I predict greatness.
Mark Mason’s last blog post..Filsame is Brilliant — Butterfly Reports is Live