When to Give Up
Here’s a short list of businesses I have tried in my life, before I found course creation as a successful one:
- I tried blogging every day for a year on coursemania.com
- I tried selling novelty (Star Wars) USB sticks on eBay
- I started a blog for affiliate marketing of products, and wrote dozens of posts too
- I worked on upwork
- I created a fiverr gig
- I tried monetizing my YouTube channel
- I tried creating a goal setting website where people can define their goals and steps needed to achieve them
It’s fun to wonder if I had stuck with any of the above for years, where I would be today.
CourseMania was a serious attempt to build an audience. I loved taking online courses (through sites like Coursera and Khan Academy) and so I thought I could share my adventures on my blog. Recommend courses and platforms, and be a good place for people to refer to when looking for a good course to take on a topic.
To that end, I decided to get serious about blogging. And I got really serious. I posted a new blog post every day, and at one point had 6 weeks worth of future blog posts scheduled in WordPress – about 30 posts ready and scheduled to go live.
At it’s peak, that site brought me $100 per month in Google Adwords income. I really tried hard to put out content regularly, but after about 10 months I did the math and realized the site would never grow to the level I needed it to be. I needed to 10X the income for it to be a good side project, and 100X the income for it to be a consideration for quitting my job and doing it full time. 100X income was just too big to imagine after 10 months of effort. And I could not imagine what more I could do to grow 100X anyways. I could not post 100 times per day or watch 100 times the number of courses I was watching.
That’s when I decided to make video courses and not to review them.
So where are you with your online business? Are you making $50 to $100 per month, and wondering how to grow it to something decent? Perhaps you should do an honest assessment like I did, and think “what are the chances of growing that to 10X results? And what are the chances to grow that to 100X the results?”
I’m not saying there’s a direct correlation between effort and results. But if you’re making $50 to $100 per month at something, you should ideally not be spending that much time to maintain that. If you find yourself making $1 per hour or even less, you might be better off ditching it and finding a new place to dig a well. There’s just not enough feedback from the market that what you are doing is in demand.