At the start of the year I started a few other blogs. I have not put 100% of my time and energy into any one of these blogs though but I have still been updating them. I do update them with a post or two every week but I have also hired some writers to help me with them. In this post I would like to discuss the pros and cons of developing new blogs and maintaining
Spend your time wisely
Recently I’ve been noting down the time I spend every week on each of my blogs. Currently I have another 4 blogs which I own and update semi regularly and I have been wondering whether I am spending my time wisely. As you know, time management is one of the most important aspects of making money on the internet. Darren Rowse posted an article today entitled ‘Is it Possible to Earn a Full Time Salary as a Part Time Blogger?‘. There are established internet entrepreneurs who have cut their workload down and still make a lot of money however what all these people have in common is that they use the time they have wisely ie. they don’t spend too much time browsing the web and cut down the time they spend on messenger too and get right down to business (messenger clients are great for networking however using it too much can seriously distrupt your work!).
It is very difficult to determine how valuable the time you spend working online is however If you think about your portfolio as a whole it may help you decide how you can best spend your time.
Lets say, like me, you own 5 blogs. The questions I think you need to ask are :
- Collectively, has the value of my portfolio increased?
- Collectively, has my monthly income increased?
- Collectively, has blog traffic increased?
These questions can be hard to answer as it’s very difficult to compare two blogs in different niche fairly because it’s easier to get traffic to some types of blogs whilst other blogs can make more money with the same level of traffic. Also, can you fairly determine the value of your blog without looking at the traffic and income?
Although difficult, we have the above 3 important questions to ask which will help us determine how we should spend our time.
Consider the following, in a 10 hour working day :
- what is the benefit of working 2 hours on each blog?
- What is the benefit of working 5 hours on two of your blogs?
- What is the benefit of working 10 hours on just one blog?
These are the questions I have been asking the last few weeks and I’m sure most bloggers who run multiple blogs have been in the same boat. You need to look at the cost of working on one blog rather than another. In Economics this is known as the ‘Opportunity Cost’ ie. the cost of passing up the next best choice when making a decision.
Should you put all your eggs in one basket?
Clearly, the more time you spend on a blog the more likely it is to grow and be a success. However, it’s also important to diversify how you make money on the web and from where.
So should you put all your eggs in one basket? Personally, I don’t believe there is a right or wrong answer to this question, I think this is an interesting subject and I believe you could argue for and against both sides. One things for sure, the more blogs you develop, the more you will have to make sure you manage your time wisely 🙂