As entrepreneurs we are constantly challenged on what to do stay productive – make money.
Unless you are onto a profitable venture that is consuming your creative juices and energy, you are under pressure to find the next “big thing” for you.
It’s a major problem we face from time to time.
The tendency is to latch onto something that is making you some money and start expanding it, with little thought to what happens when it is “successful”.
We have all done this from time to time. Putting enormous time and energy into a venture only to find out that the effort it takes is eating into your ability to devote to truyly high profit ventures.
An example it the benefit of an online businsess devoted to a tangible product as opposed to one devoted to an intangible product.
At the present time I have a very successful site selling custom T Shirts online. We have instituted a marketing program that gets us substantial traffic and sales. The problem is the time it takes to deliver the product and keep the inventory going.
At the same time I have a site devoted to obtaining leads for attorneys. I have neglected developing the true potential of this site devoting time to making the T Shirt site successful. The short term money drove me to keep improving sales.
The result is now we are spending time managing this business.
Had we devoted the time to developing the lead generation, our circumstances would be reversed.
You can see the resultant problem. We were caught up in a Downward Spiral of success.
Had the time investment been reversed, we’d be in the catbird seat.
Income from a site need little hands on employment and picking the more profitable jobs from the Custom T Shirt site.
We’re in the process of fixing this presently. It’s so stressful when you have to devote time to producing a product, becuse the money is not part of you income stream, and devoting time to building a truly passive income stream.