Using Your Time Effectively
One of my buddies dropped by for a chat a few days ago. He was the one who introduced my to blogs a few years ago and that is how PersonalMoneyTips got started. This blog isn’t the most targeted in terms of its topics although I try to and that’s because too many things distracts me.
Anyway, I asked my buddy why he is selling one of his sites. The site has something to do with music which is his key interest. The answer didn’t really surprised me. After much time and effort to write and update his site, he wasn’t getting much in return, monetary wise. Sure he get’s check from google every few months but that’t way too much time. So he decided to close it down.
I think many people who put up websites and blogs nowadays don’t earn much from their efforts. It’s just too competitive and unless you pick a niche you are really familiar with and can offer good information, it can be hard to get an regular audience and to make some money from the site.
Anyway, my buddy decided to just go teach music as side income. Getting students won’t be a problem and assuming he charges around $30 per student for 30 minutes of teaching, he could make $150 to $200 every month working just half a day every Saturday! Not too bad and would be more that what he makes updating his website. By the way, he spend between 1 to 2 hours daily to write to his site and interviews people.
The lesson here is knowing when to quit and change direction. The knowledge he gather from his website is not lost and can be used to market his teaching later on. Too many people are spending too much time on something that doesn’t generate enough returns. Remember your ROI and ROT. Return on investment and return on your time.
