My entrepreneurial journey so far has been marked by a series of epiphanies.
For those of you who have been reading Leaving Work Behind since the beginning, you will know that the first one was back in May 2011, when I decided that I wanted to quit my job and build a successful online business. Since then, notable moments of clarity that have changed the direction of my business (and my life) have been chronicled in posts such as Why I Am No Longer In A Rush To Get Rich and How I Plan to Revolutionize My Online Business.
I am writing this post as a reaction to yet another epiphany that I experienced last week. It will probably act as a catalyst for the biggest shift in my online business yet. In this post, I want to share my epiphany with you and tell you what I think it will mean for me and my business.
Building a “Real” Business
I use the word “business” above very deliberately, as my epiphany was essentially a moment of extreme clarity in which I realized that to call what I was doing “business” was a bit of a stretch.
Sure – I make a comfortable full time living from what I do. But the approach that I have typically taken to my day-to-day work is not that of what I would consider to be a businessman.
I wouldn’t say that my success has been incidental to my input, as there have certainly been times when I have been very single-minded in what I’ve done, but I no qualms in saying that my growth over the past three years has often been severely stunted by my attitude towards my work.
And to an extent, I have no qualms with that. I’ve already linked to Why I Am No Longer In A Rush To Get Rich above, which outlines a way of thinking that I still believe in. Life isn’t just about working to make more money. However, when it does come to getting work done, my approach has been all wrong. I have been approaching certain areas of my business as more of a casual hobby than a career.
In short, if you want to be successful, when you do sit down to work, you need to have your priorities straight. And ultimately, being in business is about making money. That is a simple fact that I have not appreciated enough.
Misguided Goodwill
My naivety with respect to the above can be pointed out with ease if you care to look in the right places.
Consider this blog as an example. In July 2013 I published a post, My Thoughts on the Future of Leaving Work Behind, in which I said that I was going to focus on creating a solid community rather than making money. An admirable cause, perhaps, but not the right one. Fast forward nearly twelve months and I have that community, but this site generates no more direct income that it did back then and the traffic levels are around the same. Furthermore, I’ve incurred costs in the region of $2,000 associated with setting up that community.
Does that sound like a successful commercial venture? No. But for some reason, it hasn’t bothered me. I haven’t given it much thought. From a commercial viewpoint, Leaving Work Behind has simply trundled along, unmanned, for the past year. I was telling myself that building something that I considered of value for my readers was enough, but it’s not. In order to create something that will stand the test of time and truly benefit people, I need to build something of commercial worth. I need to build something that will pay my bills and make me money so that I can justify it from a commercial perspective. I’ll explain why in more detail later in this article.
Another great example of my less-than-business-minded approach is Healthy Enough – a startup blog that I recently began pouring money into. With the relativel success of Leaving Work Behind, Paid to Blog and now Paid to Blog Jobs, I should have had plenty to be keeping me busy. (That’s not even to mention my writing business, which has consistently delivered the most income out of all my online assets since 2011.) And yet, instead of optimizing and growing my existing income streams, I decided to pour a huge proportion of my efforts into starting a brand new blog. Why hasn’t anyone put me in a straightjacket?!
The fact is this: I love the idea of Healthy Enough. It’s a passion project. Or to put it another way, it’s a hobby. A costly hobby that could potentially make money in time. Put simply, pouring time and money into that site is not a wise commercial move – I can invest my money and my mind into far more promising projects. And yet, I have been ignorant of that fact for many months.
Over the past couple of years, it seems that I have had a complete lack of appreciation that the things that I do on a daily basis are what keep a roof over my head and food on my plate. I have dreamt of having a life of total security, doing exactly what I want to do, but I haven’t been taking the correct practical steps to make that dream a reality. I make emotional decisions about this blog and other projects without considering the commercial (i.e. most important) aspect.
In a nutshell, I’ve essentially been running my business like a hobby, and it has to stop.
So What Now?
As you might expect, such a huge change of perspective will have some pretty major repercussions.
I haven’t even mentioned the event that actually sparked this all off – the pre-launch of my first book, Belief. It was made available to my LWB Book Club members last week on a pay what you want basis. That’s exactly what it sounds like – people were able to pay what they wanted for the book, starting from $0.
The launch was pretty low key, to say the very least. My pre-launch email list was 400+ strong, from which I generated 33 “sales” for a total of $80. That includes one kind donation from someone I know that skew the number somewhat, which if you take away, leaves me with a value of 19 cents per person on my list.
To put that in perspective, the recent beta version of Paid to Blog Jobs was launched to a list of 500+ and generated about 70 sales at $20 per month each. So that’s $1,400 per month. Admittedly, not all of the members are likely to stay on from one month to the next, but the contrast is remarkable. If you assume that each member will stay for a three month period on average, each person on my pre-launch email list was worth nearly $8 (compared with Belief’s 19 cents).
The difference between these two projects? One feels like a real asset that delivers concrete value with relatively low upfront costs (both in terms of time and money) and a lot of room for growth. The other felt like something that I “thought” I should do to “help” people, based upon an unproven sales strategy and with relatively high upfront production costs. Flabby, nebulous, vague notions that may have sealed the project’s downfall before it even got off the ground.
The bottom line is this: Belief and the associated marketing costs added up to $1,600 and took countless hours to create. My net loss, as it stands, is $1,520.
But this isn’t a post about Belief. I’ll leave that for another time, when I’ve figured out how I’m going to take that project forward (if at all). My point is this: the commercial project (Paid to Blog Jobs) has had a great start and offers lots of potential for the future. Its success, through leverage and scaling, will enable me to help lots of people. Meanwhile, the “passion project” has fallen flat on its face.
And therein lies the rub; the simple fact that I have failed to grasp. I can help the more people by making more money. Creating a popular product that people want to buy is far better for my community than creating something based upon a more emotional mindset that ends up stillborn.
All of this leads me to drastic action – a ruthless culling of everything I do in my business that does not represent a good commercial opportunity, either directly or indirectly. At this point that means the following:
- Healthy Enough is on hiatus, effective immediately
- My book series is on hiatus until I can better ascertain its potential
- All other activities are subject to scrutiny to ascertain whether they are in my business commercial interests
Whaaaat?
I know that these actions represent a big turnaround, especially given that it was only a few weeks ago that I was asking you to become a paid Healthy Enough reader.
I had six writers on paid trials for the blog, and I have of course paid them for their time. Wasting that money is my issue – it’s certainly not their fault that I had a change of heart and there was no way in hell I was going to back out on them. From one perspective it was a costly mistake – from my perspective it was a valuable lesson learned.
My original offer to the writers was a 5 post paid trial. With that in mind, I contacted each of the writers a few days ago, explained the situation and gave them two options:
- They could stop and bill me for what they had done to date
- They could continue to work through the trial period, as originally agreed
I may have been putting a stop on things, but I didn’t think it was fair to put a stop on a trial period that had already been agreed.
Some might consider my actions rash, and I do feel somewhat guilty that I brought other people into this situation, even if I never actually guaranteed them anything. It wouldn’t be unfair to suggest that my behavior often shares key characteristics with that of a yo-yo. But sometimes you have to make bold decisions and risk the judgment of others to do what you think is right – even if it means correcting some messy wrongs. This is certainly one of those situations.
What Does This Mean for LWB?
I have deliberately made the above sound rather extreme, because I want to drive home really how strongly I feel about the concept of running a business like a business. And I say that unapologetically.
But how does this align with Leaving Work Behind? How does it align with my reputation as a trustworthy guy who ultimately has the best interests of his audience at his heart? Can the prioritization of moneymaking really live in harmony with my somewhat altruistic past?
Of course it can. I want to make it absolutely clear at this point that my intrinsic character hasn’t changed. I’m still the guy who responds to every single email and comment that I get. I’m still the guy who ultimately wants to help you succeed. But I now have a better appreciation for how I want to help you succeed.
It’s simple: in everything I do, I must find the cross-section between (1) making money and (2) helping people. I no longer strive to help people without any underlying purpose – the underlying purpose is now to make every step I take a win/win situation.
Paid to Blog Jobs is a wonderful example of this – I am incredibly excited about its potential. It’s good already, in its beta stage, but wait until we really get rolling with it. I can focus on providing huge value while getting paid for my efforts. And the best part is, Leaving Work Behind serves as a natural advertisement for it while simultaneously offering up free content to those who are not ready or willing to spend money on what I have to offer. Everybody wins!
So don’t worry – Leaving Work Behind is not about to morph into some unrecognizable commercial enterprise. In fact, you may well notice no difference around here at all, as a lot of what I am doing will be behind the scenes. I suppose what will be noticeable is what I talk about here on the blog – the projects I am involved in, the motivations for being involved in them, and the actions I take. I will continue to offer up personal case studies of my projects as I always have done, but they will be more useful than ever, as my approach will be far more entrepreneurial – in the real sense of the word – than it ever has been.
So, for now, all I ask you to do is strap in and get ready for the ride. I’ve got a lot to tell you in the coming weeks, and I can’t wait to continue helping you with your own businesses by sharing the secrets of my own with you!
Photo Credit: Nanagyei
Debashish says
This is amazing news, Tom. Congratulations!
I know first hand what it feels like to come to the realization that your passion projects are not in sync with your most valuable income sources. To be in business, it’s exactly like you said, ” Find the cross section between making money and helping people”.
I appreciate your honesty in declaring this decision on your blog. I completely support this decision. Really excited about the new direction LWB is headed in.
Tom Ewer says
Thank you, as always, for your support Debashish!
Justin says
Hey Tom,
Congrats, man – I think you’re on the right track.
I was listening to an interview with Andrew Warner @ Mixergy and he was asked about the single greatest thing he did to improve the content and quality of his interviews on the show. I forget his exact answer, but it was something like, “Made Mixergy profitable”.
He said that adding revenue (and ultimately profit) allowed him to hire pre-screeners, promote the show, and do things he wasn’t able to do on a limited budget.
I think that’s a critically important issue for those of us looking to improve our art, hone our craft, etc. Sure, it’s nice to actually make money with your art, but the fact that the money allows you to improve the quality of the content for your audience might just be reason enough for the die-hard artist.
Tom Ewer says
Exactly right Justin – thanks for sharing!
Jamie Alexander says
I love your new way of thinking.
Over the last few months I was beginning to think you were becoming a philanthropist before making your first billion dollars lol
I personally don’t think you’ll ruin trust by selling and pushing more. I think people trust the individual rather than the fact they’re trying to make money.
I’ve done the same with one of my blogs recently. It’s not on hold, but it’s just a hobby blog I’ll post to sporadically and grow naturally. I’m going to pour my efforts into one I think will be more profitable. Both will give people results, but I can only see one being a true business.
I’m also interested in whether or not you start seeking out and charging companies to advertise on your job board. The money will probably be greater, they’ll get what they’re looking for (even though the writers might not), and you’ll be able to move to a city with a decent football team ha.
Tom Ewer says
You might be on to something there Jamie 😉
There’s certainly lots of options to consider – at this time I just want to get as many quality job opportunities on Paid to Blog Jobs as possible.
Matt Riley says
Awesome! I have always found that adapting my mindset or having multiple irons in the fire has kept me happiest. Changing how you are going to do business and make money is the way the uber successful people do it. I look forward to seeing how things morph for you over time.
Tom Ewer says
Thanks Matt!
Jenn Flynn-Shon says
I think it sounds like you’re running your business very business-like despite what you’ve said here. Taking chances can sometimes bring huge rewards so what better chance to take than releasing a passion project? When those take off there’s no better feeling in the world! But when they don’t…a business minded person knows when to step back and look objectively at what they’re doing. A true businessperson can admit to the things that aren’t working out and eliminate them, just like you’re doing now. Kudos for taking the full control of your business!
Tom Ewer says
I like your perspective Jenn, thanks!
Bon Crowder @MathFour says
Good for you!
Tom Ewer says
Thanks Bon! 🙂
Steve Roy says
Tom,
As one of your above mentioned writers for Health Enough, I am sorry to see it go. I enjoyed working on it and with you as well.
You have made SO much progress since we first started working together back in 2011 and I know LWB will continue to grow and grow.
Looking forward to seeing where the future takes you (or where you take it), my friend.
Tom Ewer says
I’m sorry to see it go too, but it does feel like a weight’s been lifted at the same time. Now I can focus on what really matters to my business. Thanks Steve!
Jamie M says
Well said Tom, I have been waiting to buy the Belief ebook but haven’t notice a purchase link or email – I’ll have a look after this.
Epiphany – agreed
It is your business after all. For a blog like healthy enough to make money would take a lot of time and effort – think how much time you spent on LWB – and most of your income comes from freelancing rather than the blog itself.
You need feel no guilt about the change in direction. The blog is about leaving work behind (to live how you wish) and you are leading by example. To carry on slogging and not seeing the dividends would kinda defeat the premise in title.
Epiphany 2 – the time you lost – is inspiration gained by many
It must be said – your desire to help and inspire and the work you have done to achieve this – is creating value to the lives of others. You may have been short changed with a project or 2 but don’t ever think that your effort has gone to waste. You are providing great value to people and there is such a thing as karma in the world.
So – totally agree that you grow your business as you see fit. But – don’t stop completely on your passion projects. Perhaps work on them in your spare time – don’t burn yourself out.
Epiphany + Perspective = balanced view
Also – for some perspective. The amazing value you have delivered, the community, excellent content, paid to blog were all free or cheap enough to attract a significant following. Had you charged or overcharged from the outset – they may not have performed as successfully, and you may have felt less satisfied or even downbeat with that outcome. You’re a guy who wants to make money and help others – you need to strike that balance, go either direction too far and it will screw with your head. (keep doing your passion stuff, you’re still making a lot more than in your day job)
+ It could have been worse if you were more money focused
I once signed up to a blog community that promised all sorts of interaction. It was pitched and sold at a reasonable price and I was eager to get involved and paid up. This was a well known blogger that I respected and liked (still do). When I was in the forum it was a bit of a ghost town – despite him having thousands of email subscribers relatively few had joined the community. I think it may have bit the dust now – but I believe it would have been far more successful if he had followed your own model. Free to start, or for a few months, or for the first 100, whatever the bribe is – just to get it kick started and some buzz going around.
Great to see you lead by example once again Tom.
Thanks for sharing
Tom Ewer says
Great comments Jamie, spot on. I’m definitely looking to strike a healthy balance – not go all-out in trying to make money. I hope I made that clear in the post. I just think that the balance has been way too in favor of trying to provide value alone, not provide value in ways that can make me money.
Cheers,
Tom
P.S. Was that Glenn Allsopp’s forum by any chance?
jamie says
I think you will get the balance right Tom. Your heart and your head are as one:)
P.S.
No it wasn’t Glen Allsops – although Viperchill does have some excellent Im and SEO content – better value than all those $7 ebooks from the Warrior Forum:)
I’ll email you the blogger in question – I don’t want to “out him” because I have a lot of respect for what he does and the idea was great.
Looking forward to seeing your future projects come to fruition…
Saul says
I completely relate to this. A lot of my output is fiction/narrative/memoir, which is what I enjoy writing most, but doesn’t necessarily earn me much income. On the other hand, my “how-to” books are less enjoyable to write, but are more marketable and helpful to people. I wish I could just offer all of my books for the same price, but the reality is that, in order to make a living, I have to price those books higher because they offer more value. Those books essentially “subsidize” the less commercial books, which I can price at lower rates (or offer for free).
Tom Ewer says
That’s certainly a nice way to do it Saul!
Naomi@business start ups says
Hi Tom,
I really appreciate you giving your readers such a ‘peep inside’ your business and the decisions your make within it.
I’ve never read a post written from this angle before. It’s great!
Naomi
Tom Ewer says
It’s what I do Naomi, and there’s plenty more to come!
Lisa Byrne says
I truly do love reading what you share Tom. You show true transparency without telling everyone you’re doing it. (I don’t fancy those others who tell you they are being transparent. If you are, just be it. Others will get it and appreciate it. Put down the horn.)
When I read your simple, sensible and truthful revelations it inspires me. Mind you, I am in a completely different business. I serve people who are looking to better themselves though health and wellness. There’s a huge variety of clients I have; however, I get caught in making emotional decisions that sometimes thwart my progress. Reading your stories helps people like me add perspective to 1) making money and 2) helping people AND keep in mind the underlying purpose first and foremost.
I recently saw a quote that I keep returning back to…it may add to the conversation:
“Do your thing. Do it unapologetically. Don’t be discouraged by criticism. You probably already know what they’re going to say. Pay no mind to the fear of failure. It’s far more valuable than success. Take ownership, take chances, and have fun. And no matter what, don’t ever stop doing your thing.” -Asher Roth
Do Your Thing and thanks for sharing Tom.
Tom Ewer says
That’s a great quote Lisa. Especially doing your thing unapologetically. You’ve got to embrace your approach and run with it. But also, you shouldn’t be afraid to change direction if it feels right, even if it’s a somewhat jarring change. I think that’s what I’ve done.
Thank you for your support!
Tom Bolton says
Yes, Do Your Thing Tom and thanks for the honesty and transparency; much appreciated by us that are too afraid to get started.
Write on,
Tom B.
Tom Ewer says
My pleasure Tom 🙂
Warren says
Hey Tom,
Great post man. Having a business whether online or offline will always involve changes in order for it to grow, become successful, and sustain itself. I’ve always maintained that if you invest in your site, eventually, you’ll also need to get something in return. Unless you’re rich and doing this for fun, you don’t have the luxury to keep investing in your blog and expect it to grow, yet alone sustain itself, without monetizing it. So bravo Tom. You’re doing what needs to be done as an entrepreneur. The difference is, you’re a lot more trustworthy–which is always important in this type of venture.
Keep inspiring,
Warren
http://www.thesuperblife.com
Tom Ewer says
Thank you Warren!
Michelle Dale says
This is exactly what I went through about the same stage in my business you’re at. It’s almost like being in some sort of life learning academy for internet start-ups that takes you through these several stages over the course of a few years. But in all honesty Tom, nobody could have told you these things in advance, and if they had, you probably wouldn’t have listened. A lot of the time we have to experience these setbacks and triumphs for ourselves (which is the best way to bring about change), see them with our own eyes and then there is a big bright light that presents itself showing the way forward.
In business one size never fits all and I feel you’re growing into your perfect fit, you’re still very young and you have come SO far, you should be very proud of yourself – I really admire your honesty and up-front-ness, it’s what sets you apart and has your readers coming back for more.
As always I’m excited to see what you have up your sleeve. Loved this post.
Tom Ewer says
Hey Michelle,
I’m totally within you on needing to learn these lessons myself. You’re absolutely right. And I really do feel like I’m getting closer to my perfect fit, which is really encouraging!
Cheers,
Tom
Daryl says
You know what they say – the only thing constant is change!
Of course, there’s absolutely nothing wrong with changing your model to both help the maximum number of persons AND put some extra money in your pocket.
That being said, there are always going to be some “vanity” projects that don’t necessarily give you the ROI that you’d like. I still think that if you’re really passionate about it, AND if the expense of those projects doesn’t make a major difference on your financial well being, that you should still go for it!
I guess the trick is to balance – just make sure that you’re not spending TOO much time and money on these passion projects, and they will still be a great way to express yourself without worrying about profit margins.
Just my 2 cents Tom!
Taylor says
Hi Tom,
It’s so awesome that you share these thought processes. They truly help me anticipate the ups and downs of online business.
About 7 months ago I came upon your site while surfing at my dead end desk job and it inspired me to act – today was my last day at the dreaded office! Reading this is a good kick in the arse for me as well because starting tomorrow it’s game time… no more hobbies over here!
Good luck with your new business model! I’m hoping to join Paid to Blog Jobs soon!
Taylor
Oliver McCloud says
Tom, I’ve been watching Shark Tank Lately, and you’re echoing what I’ve been learning on there. Follow the money! It seems heartless, but the truth is, if people aren’t lining up to pay for something, it’s probably not a great idea.
Thanks for the honesty. I’m excited to see where you go with this! I’m using your blog as a model for mine, Ending Aimlessness.
Katharine says
I think that’s such a great shift in mindset, Tom.
Passion for projects will only take you so far — eventually, you’ll have to scale back, because we all need a roof over our heads. On the other hand, if you can make the projects you’re working on more profitable, it actually makes it more possible to help other people with those projects. It’s a lot easier to justify the time and effort you put into profitable things!
Can’t wait to see and learn about the changes you make.
Tom Ewer says
Thanks Katharine!
Bree says
This is exactly what happened to me regarding my blog about a year ago! I realized it was a hobby blog, not focusing on helping my readers but rather catering to the “typical” topics within the industry I was focusing on. Nothing set me apart. Nothing helped anyone. And nothing was happening financially.
It’s a great feeling to understand that in order to grow, you have to focus on others, and not your own passion projects! (Though those have their place, too.)
Tom Ewer says
Damn straight Bree!