I like to evaluate my time in business by taking a moment and seeing how much I’ve learnt. Even though the money might not come, internal growth is always more important.
Snapchat, Instagram, Whatsapp and FaceBook never focussed on earning anything until they had a user base of millions.
Money is a short term indicator to something whereas knowledge will continuously bring in income if used right.
That being said, 2015 was a much smaller year compared to 2014 in terms of revenue. I made somewhere around 50-70k which is a far cry away from my 143k in 2014. Less than half the income.
But what did I learn?
I learned a bunch of things but the most important one was to work on what’s already working. This can be applied in many forms.
2015 was a year where I listed down a bunch of ideas I wanted to try and started to knock them off one by one. From my own viral websites to giveaway sites to forums and all sorts of things.
I had high hopes for each one. I wanted to grow them to the point I’m earning 6 figures from them alone but they all flopped giving me a valuable lesson each time.
Work on what’s already working.
Whether it’s a Teespring campaign or a business idea, the ones that reverse engineer existing competitors are the ones that fins success more frequently.
If you were to try 10 business ideas modelled directly out of businesses you see around you that are already working and have a growing customer base, your going to find more of them to be a success than 10 ideas that are completely original with zero competitor research.
Why work on something new when there’s already something out there making millions that can be emulated?
I’m not talking about making the next FaceBook.
Take this blog for example. There were plenty of blogs in the space before I made it. Now, there’s mine. One that’s taken a piece of that blogger pie and is making a healthy monthly income because of it.
If I had not made it thinking there’s already too many affiliate marketers out there with popular blogs, I wouldn’t be here today.
I also realised to focus on my blogging efforts. Again, work on what’s already working!
Blogging has bought me a positive return since the day I monetised it. It’s never failed me and has always served as a safety net so I don’t lose too much experimenting on new campaigns.
With an extra 3-4k a month I can launch 100ish campaigns without worrying about going into the negative!
Imagine how much of an advantage that gives me?
I can also do it knowing I’ll easily pay the bills and continue working at home.
I’ve decided to work on the blog and grow it’s revenue so I can spend more money testing campaigns.
So in conclusion, if something is working, don’t switch to something else unless you have a good reason to. If it’s out of boredom and there’s a lot more you can grow your, already working asset then you should continue. You never know how much you can scale it!
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