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Memoirs on a project that took too long (way too long)

Posted in Entrepreneurship on March 6th, 2013 by Jarred – Comments Off on Memoirs on a project that took too long (way too long)

So, I have finally completed my upgrade of my Diablo 3 Calculator site. I am very happy with how the final product turned out I feel like I greatly improved the tool. On the outset I thought that since this site was my most successful project to date that it would be worth it to polish the whole thing into a even better, bigger, badder tool. However, I am afraid that from a economical perspective and in regards to my ultimate goals, I think I made some pretty significant errors. I would like to get down on paper what I feel I did wrong so I can hopefully be more efficient in the future.

First: I spent too much time on the project. Way too much. It took me like 5 months or so. I probably put in a good 300 – 400 hours or so to polish everything up. Since I am still new to the world of web entrepreneurship I think this is the equivalent of putting all my eggs in one basket. I could have done 3 or 4 smaller projects and maybe could have come up with something that was even more successful, but instead, about half a year later I have pretty much the same in terms of income producing web property as I did before.

Second: I don’t know if I an going to see any extra return on my time invested. The site was already reasonably successful in the first place and ranking well. While I know I greatly improved the tool, I don’t know if from an economic standpoint I will make any more money from the site than before. So far I have seen little change in the adsense income coming in and it seems unlikely that will change. I probably should have never started the project upgrade in the first place. I think before starting future projects (or improving existing ones), I should take the time to try to judge if the potential increase in income can justify the time I will invest in the project.

Third: My Market/Niche I feel was a really poor choice. Diablo 3 has been a fairly unpopular game. I doubt it will maintain a very large player base for very long. I knew all this before I started the upgrade. I want to build things that will be viable for years to come. I think it would be far better for me to focus on markets niches that will hopefully be profitable for decades or more.

Fourth: The keywords for this site are low paying. This directly translates to lower income potential. I should probably spend some time before starting a project to research out if it is a higher paying market and how much competition there is in the market. Hopefully in the end this will translate into more profitable sites with higher paying keywords.

Fifth: I think a very useful skill to develop is the ability to correctly estimate how long a project is going to take. So far I have been incredibly poor at trying to gauge the time involved in completing stuff. Instead, up till now I just get a idea and then just throw myself at it assuming that it wont take long. If I could get a more accurate reading on how long something will take, I could better judge if it might be worth my time to try.

Sixth: I am always trying to learn new stuff. Pretty much everything I have done up till now I have been trying a new technology, different language, or some framework or something. While this is for sure a good thing as I have greatly expanded my skill set, I think it might be about time to start trying to cash in on what I already know rather than trying something new each time.

So, I guess ultimately what I am trying to say is I really need to start valuing my time more. I need to take the time to plan the whole thing out and try to see if the proposed endeavor might be worth my efforts. If I am ever going to get to $1000/month I need to more strategic with my time and not so willy-nilly.

A small victory

Posted in Entrepreneurship on August 2nd, 2012 by Jarred – Comments Off on A small victory

After more than a year of dinking around I have finally caught a gimps of success (a small glimps that is). But hey, you gotta celebrate your small victories. My diablo 3 calculator project really has taken off and is starting to generate some significant traffic and I am actually making a little income. Up to this point my estimated income per hour has been down there at around 10 to 20 cents, but now it is showing all the way up there at 60 cents an hour. Yeah, with an income like that I wont be quitting my other jobs anytime soon, but who cares, this whole experiment just may work(just might take me another decade to up my income up to $10/hour). I think the idea of “passive” online income may be a myth. This is all taking and incredible amount of time and effort.