Monday, January 20, 2014

The Problem With Having Too Many Ideas

If you have hundreds of ideas to grow your blog, that's FANTASTIC. 

It really is. The problem with having one too many ideas for your blog or business, is that it will probably get you sidetracked from doing any actual productive work.

The majority of the time I'm on my blog, I spend it typing blog posts, and adding more ideas for future posts. When I am not blogging, I usually promote my posts on social networks, or focus on helping other writers.

I like to call this the "80-20 blogging rule" for me (stay tuned for a detailed blog post about this rule for blogging).

I write one weeks' worth of blogs before hand, and the rest of the time, I promote my work, and interact with my readers. 

Whenever I get an idea for my blog, it takes me quite some time to actually put it to work. 

There is a lot of planning. 

Many of the projects that bloggers try to get into are fairly simple, while others take up more energy and resources.

For example- starting a new book, working on a new website, freelancers often try to promote new services. The list can go on and on, really. 

The time I put into working on my new idea, takes away from the time I set for my blog posts, because I also focus on other areas of writing. 

Here are some reasons why it can be bad to have too many ideas for your blog, and some ideas on how to make the most out of your ideas WITHOUT having any problems.

You can go over your budget, trying to work on other projects

While having ideas for your blog can be great, it can get you side tracked from doing any actual work for your blog, which already makes you money. Too many bloggers, try to tackle hundreds of ideas at the same time, and end up investing more money than what they have, and not seeing any actual results right away. 

This can be a problem over time. If you are spending too much time and money, working on an idea that will eventually make you money, you need to set a budget for your projects, and try to tackle less expensive projects, one by one to keep from having to borrow money, or look for investors.

One of my personal rules of thumb when I take on a new project is simple- I only invest a small portion of money from my own pocket for the basics, and continue investing money into my new project, once I start seeing the results from my work. 

This way can take a while to achieve, but every business owner and blogger knows that it can take a while to see the results from their hard work, unless you put the time into a new project. 

Your projects can come out completely different than how you originally planned

When you put your ideas into action, sometimes things can get "lost in translation". One of your ideas might be simple and self-explanatory in paper, however, when you actually begin working on your ideas online, it can be a little bit different than how you expected it to work out. 

One thing that I have learned from starting a new business venture, is to test out my idea before taking on any actual work. 

I start out with blogging. Adding new content to my blog every other day, marketing this new blog and seeing how people respond to my work. 

Sometimes we are so excited about building something new, that we forget how much work and planning new projects take.

Your actual work can get left in the back burner

If your start spending more time working on a new idea, then I can almost guarantee something is going to get left in the back burner. 

Oh, this is so bad! Don't let it happen to you!

While there is nothing wrong with investing a little bit of time to work on a new business idea, it can take its toll when your work starts to suffer. Remember, you want to continue making money in your business, and these new ideas you are working on are supposed to be on the side. Not your main income. That is something many bloggers forget about, and it comes as a shock to them, when its time to see if the time invested in starting a new business has actually paid off. 

If your new idea is not yet making you money, you have increase your income from your current job. 

You can lose track of time

This actually happens to me all the time, so I'm here to tell you how to avoid this. There are several ways of making sure this does not happen to you. Stick around, i'll tell you how not to lose track of time working on a new business idea.

Working on a new business idea can take a lot of time, energy and resources you might not have, yet. Because of this it can be almost painful when you feel you have worked more, to make very little or nothing at all, at first. 

If you lose track of time, you can easily make up for it, by setting a time limit on your business idea. It might be hard, but this way, even if you are not making very much, or any income, you can feel better knowing that you are still making money on your own business.

You might not see your investment right away.

I mentioned part of this problem above, when I explained how you might not be able to stick to a budget for your new business idea.

One thing about working on a new business idea, is knowing that you have to invest money for things such as: hosting, website, designer, branding etc. All this means, unless you make money the very first month, you might be spending more money than what you are making. 

This means, that unfortunately you might not see a return on your investments right away. Some bloggers can take this as a loss, and as blogger who has invested a fair share of time and money into projects, I can tell you that it can be a very good investment... In the long run.

So far we have seen some negative notions of having too many business ideas, and why it can be bad. But what about the positive side of having so many business ideas? Do they get left behind?

Nope! There are some unique ways, that I have personally found to be useful when building very different businesses online. 

Here are some things that have helped me out. A lot

Try multiple Ideas at the same time

If you know how to multitask, this might be the way to go for you. The positive side of multitasking (when its done correctly) is knowing that you can get a lot done in a short amount of time. The bad side of multitasking is that you might feel unbalanced and overwhelmed most of the time, trying to get as much done as possible. 

Here are some ways of making the most out of your time:
  • Make a daily schedule and write down everything you need to do for your business, and side business. 
  • Write down what works and what doesn't on a notepad, and keep track of your work and your results.
  • Do as much research as possible on your area of business, and surround yourself by people who are doing the same thing that you are doing. This can bring you a huge amount of support.
  • Take some time out of the week to just focus on yourself. This is very important, because you do not want to get burned out. 
  • Lastly, have fun working on your business. Make your work fun. If its more stress than fun, then there is something very wrong there!
Only invest money you make

Earlier I wrote about how starting a new business idea can get expensive. There is a lot to consider. You have to invest in web hosting, domain names, website designer (unless you know how to design your own website), etc.. Well there are some tricks to starting a business on a budget, while waiting for your new business idea to make you money. 

On an earlier post- How to start a business when you are broke, I talked about how freelance writers can start their own business when they are on a budget, or have no money to start out with. 

Some of those points can be applied here to, so I thought I would share them with you. 
  1. Domain hosting- If you are looking to host website online, then use Bluehost. This service is by far, the best hosting service online. You cant go wrong here. If you are looking to add more websites, more domains, this service not only lets you do all this, but it helps you along the way. I write about this service a lot, because honestly, I have never had any problems with them. This is an extremely affordable, and incredibly easy way to host your website, and add new domains if you chose to in the future. All at a very affordable price.
  2. Only spend money on the basics. This can be a little bit hard for those of us that want to go all out on our businesses, but if money is tight, and you can only afford so much, then stick to the basics of business. Purchase a domain name, try a free blogging platform (at first), and go from there. It can be hard to try it this way, but once you do start making money, you can re-invest it into your business and build from there
  3. Lastly- don't forget to save money in the process! Creating something new is not only about investing money, but saving money. Even if at first its only pennies at a time, save your money. It will come in handy in the future, and this way, when unexpected expenses come up, you can easily cover them without stressing out.
List of the resources and useful tools mentioned in this post

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