Focus on Milking our Cash Cows
I’ve just finish reading one article from Chris Guthrie
, one of guest blogger at JohnCow.com about
focusing on Milking our Cash Cows. I will share his complete writing
below:
Milk your Cash Cows
by Chris Guthrie
One of the problems that I “suffer” from is a desire to always be doing
something new. Whether this means launching a new forum, or focusing my
attention on one of my smaller websites, I just enjoy mixing up what I
do online. I think that we can all agree that doing the same thing can
grow stale because even if you’re making a lot of money off of one
particular website you may still get a little burned out. I know this is
one reason why I start new websites; however, what you need to keep in
check is the amount of time you devote to these new ideas.
Managing the time you spend on your portfolio of websites is crucial to
your success. For those of us that aren’t making enough money online to
quit our full time jobs this becomes even more important. As a part time
web entrepreneur I recently realized that my focus on starting new
websites had actually started to hinder my business because of the extra
time, money, and effort that these projects take. I recently wrote about
focusing on the big picture over at my blog
(http://www.chrisguthrie.net/focus-your-efforts-on-the-big-picture)
where I talked about selling off one of my smaller websites that took a
fair amount of time to set up that in the end didn’t even contribute
much to my bottom line. Mistakes like this are costly and it’s so
important to maintain a healthy balance between managing your existing
websites and starting those new projects. You never want to take on more
than you can handle and that’s why I will probably get rid of a few of
my other small websites that take up my time so that I can focus on what
matters most - my cash cows.
Your cash cows should be the primary focus when you get home from the
day job. Everything else should be secondary. Now by no way am I telling
you not to try out new ideas that you believe will be successful, but it
should never come at the expense of your cash cows. Don’t take on too
much if the rest of your websites will suffer from the extra time you
now have to allocate to new ventures. I made the mistake of neglecting
some of my cash cows so that I could focus on new projects and now I
have to put in even more time to build them back up to their former
glory. Don’t make the same mistake I did!
Another reason why you should always milk your cash cows first before
moving on to anything else is because of the perks that come along with
owning a larger website. Owning a large website allows you to gain entry
into publisher programs that have strict traffic requirements. These top
tier programs often pay out more than programs anyone can access and
occasionally allow you to negotiate revenue share. If you take one thing
from this post I ask that you please tend to the cows that provide you
the most mooney before you even think about launching a new venture.
This post was guest blogged by me - Chris Guthrie! I write about
blogging, managing online communities and making money online
Source: http://www.johncow.com/milk-your-cash-cows/
I think I should take this advice seriously and start to focus
maintaining my blogs instead of creating new blogs each week..
Do you have anything to share? please leave a comment..


