Recently one of my projects reach a 1 year investment of my time, energy, Knowledge and ability to grow the project as much as I can. However I have a big struggle to monazite the project despite the fact that on papper the project can yield, even now as we speak few hundreds of dollars a month which is not a lot of money but definitely respectful amount of money on a monthly basis (relativity) passive income.
The Problem
The project itself is viable, A year ago I’ve made few predictions regards the project and made few assumptions. However at that time I couldn’t tell much behind simple on paper predictions, I’ve made assumptions and those assumptions were on paper only! Which means those are theory, not viable business financial models or good source of income. The assumptions and predictions on paper, were made using reliable tools, multiple services, different citation of sources and relaying on expertise of other people and professional experts.
The problem however is “minuscule” it’s bureaucracy, The problem is actually related to something in the gray area of “how to get the money” more than actually making the money. On paper, the project could make hundreds of dollars every month, but due to this bureaucracy problem I cannot make any dime off this project which lead to dire results. The reason I write this blog post is because I’ve made around 12-13 different attempts, applications and questionnaire with relevant people to try and solve the issue. but noting works. In addition it’s important to mention that the project on a monthly basis cost me some money, but noting too much. Probably around 10-30 USD.
Abandon the Project
At what point business owner decides to bail out himself from a business? when the numbers after a year or so don’t match the predictions? when a bureaucracy doesn’t allow moving forward? when the growth is not as expected? when the project expect more investment than what business owner can give?
Those are few of the questions I’ve ask myself in the recent few weeks when once again, applying a new solution to the problem, completely failed which doesn’t allow me to monetize what looks like valid numbers and real results after a long term investment in the project.
Time is Money
My biggest struggle with the projects, After building the projects, getting a server, buying domain, doing the devops work, writing the code and doing all the relevant research and relevant marketing and promotions. That is all behind me at this point, currently the biggest struggle is the fact that the bureaucracy keeps me engage with the project and the time I invest in the project doesn’t compound to anything! instead of investing my time into something that will compound my mind is always occupied with this project and I need to check the project every few days and that time investment doesn’t yield much for me at this point. Hence I need some change, I need a different outlook and different approach to this current time consuming work plan.
Change of Strategy
I think the best I can do a this point, Is to shift the project strategy to something more long term maintainable for myself with other projects at hand. Since the problem is bureaucracy and not something I can pour down time and effort into fixing the issue and offering variety solutions(since there are none) I might as well change the strategy of investment in the project and how I manage the time into the project. Meaning that if until now I used to invest daily, or weekly efforts into the project. now I think I should increase the hourly work, but also increase the time between work hours into the project, or in other words, instead of working one 5-6 hours a week I’ll work 2 days straight, Once a month or 4 days none stop, once every 2 months. This way, the project will continue to exists, will continue to grow but it won’t be a bottle neck or a strain on my work schedule. it means also it will free my mind to focus on other projects and will free my table to attempt new business opportunities.
Lior Amsalem embarked on his software engineering journey in the early 2000s, Diving into Pascal with a keen interest in creating, developing, and working on new technologies. Transitioning from his early teenage years as a freelancer, Lior dedicated countless hours to expanding his knowledge within the software engineering domain. He immersed himself in learning new development languages and technologies such as JavaScript, React, backend, frontend, devops, nextjs, nodejs, mongodb, mysql and all together end to end development, while also gaining insights into business development and idea implementation.
Through his blog, Lior aims to share his interests and entrepreneurial journey, driven by a desire for independence and freedom from traditional 9-5 work constraints.
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