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I'm Getting Stuck in the Loop of Shiny Opportunities Again... Nooo!

by Ross Cohen
40 replies
I was on a roll, too! "Distracted" used to be my middle name...

So several months ago (well... maybe 6 months ago) I found myself with over 20 websites, all of which I was maintaining. And I'm no full-time Internet marketer! At that point I was in college and doing all sorts of random things... my online business was just a side thing.

Realizing I was in way over my head with work, I sold them. All of them! All except the one project I wanted to start and take off - my PLR shop. Selling the other websites - most of which were affiliate sites - provided a nice pay day for me to put some cash into the site and get it running. This has been my main project for a couple months now and it's coming along very well. Everything is going wonderfully.

But on my trip to China (where I've been for the past 2 weeks) I started thinking of all sorts of random projects and whatnot.

First, I've been thinking about offering a low-cost mentoring program. I know a lot of people are struggling and want to become their own boss - become an online entrepreneur - but things simply aren't working. They also don't have $697 a month to get a mentor, let alone even $97 for many. After all, the economy isn't the best at the moment. I thought offering something in the $37-67 range may provide me some enjoyment as I do love helping people, and some cash on the side as well (even though I do start a full-time job this upcoming Tuesday... but I will still have lots of free time).

Second, I (on my round trip, 16 hour flight - yes - 16 hours both ways) started sketching up some guides. They're only on aspects of Internet marketing that I know a lot about and have been immersed in for some time now. For example, email marketing, list building, affiliate marketing, and product review sites.

I was thinking something along the lines of "25 Tips To _____", and taking the knowledge I've learned and providing it to Warriors for a small lump sum. Maybe the e-Book for $4.97, or something like that. Certainly no more than $6.97 (don't make fun of my .97 obsession). There's 8 of these guides total, but I can't see myself completing them too quickly... perhaps 1 per month... or 1 per 3 weeks. I actually have to write up short, to-the-point sales pages for them.

So all of this is a lot. Full-time job, moving into my first apartment in a couple weeks (hey, I'm only 22!), writing PLR, and now getting distracted with these other online ideas (mentoring and the products bound to become WSOs).

I can do it though. At least I think I can. I don't feel burned out or anywhere close to it. I find myself rejuvenated, lively, and motivated.

Do I quit while I'm ahead? Do I stick only with my PLR shop? I know getting distracted is bad. I just want to do more! I feel like I have more than enough free time to do all of the above.

I guess writing this up made me realize I CAN do it... perhaps I just needed to vent. Or maybe one of you need to slap some sense into me.

Wow, you read this entire rant? For that, I thank you.

Ross
#loop #objects #shiny #stuck
  • Profile picture of the author laurencewins
    Ross, the only thing stopping you achieving all that is you. And if you have the energy and the time, then why not go for it.
    I do suggest that you get pen and paper and write yourself a plan of attack. You will get more done and be more efficient if you include everything.

    By everything, I also include allocating time to pack and move, time for your full time job, etc. Do that and you will find a better picture of what you want to accomplish and then you can decide what you need to do.
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  • Profile picture of the author Resale Rights Ninja
    OK I am not going to read all of that, but if you are having SOS then realize that there is nothing out there that is going to magically solve all of your problems.

    You do not need a new product or new tactic.

    You probably already have enough knowledge to kick a$$ on the internet so quit buying $hit you don't need.
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    • Profile picture of the author Joseph Robinson
      Banned
      Stop.



      You know what to do, you know the logical way to go about doing it. All of the ideas you mentioned are good, and you have the talent to do them all. Don't lose sight of the forest for the trees though.

      I've tried to do what you are thinking of doing, and taking on so much at once can get pretty crazy. Balance is an important thing, and if you lose it (like I have before), then crap goes down the drain.

      You just graduated college, you're moving into your first place, you have a great relationship with your girlfriend. Enjoy all of that stuff. Build your business too; but not at the expense of everything else. You'll regret that.


      Originally Posted by Resale Rights Ninja View Post

      OK I am not going to read all of that,
      Kind of a disrespectful thing to say, don't ya think? Might as well have just worded it like this:

      Not too worried about what you are talking about; but I can get some sig exposure with a generic answer, so here you go.
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  • Profile picture of the author Ross Cohen
    Thanks Laurence. Great advice. Appreciate it.

    @ Ninja - Haha. I'm not buying anything. Just trying not to spread myself too thin. I apologize for the long-winded rant!
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  • Profile picture of the author jamesrich1
    You have the answer to your problem and no one else.
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  • Profile picture of the author Brian Tayler
    Make a list of priorities. Sounds like the PLR site should be on the top. The mentoring idea at the bottom and the short WSO report ideas somewhere in the middle.
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  • Profile picture of the author J Bold
    Many people can relate throughout their IM careers with you, Ross. There's just too much "I can do this" or ooo "I can do that" out there and everyone gets sucked into it from time to time.

    I think this happens because by nature we, as people, are impatient. We also want something for minimal work.

    Also, work can get boring. Sometimes you are doing boring work and give it up because you get bored. That happens to so many people and I can raise my hand that I have abandoned projects in the past. But not anymore. I am focused now because I realized that I have to focus on one thing at a time, and work hard at that, even when it gets a bit dull and monotonous.

    You've got to keep that drive and passion to succeed going, however. Everyone has different ways to do this.

    Now, I will comment on your guides. "25 tips to ...." doesn't work in my opinion. It's kind of a boring type of title that I don't think would sell well. It doesn't excite or pique much interest or solve a specific problem. That's what you've got to try to do, help people solve their problems, like you said, so why not focus your products along those lines? Make it more specific.

    Good luck in whatever you choose to do.
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  • Profile picture of the author Ross Cohen
    Joe - are you insinuating you're a girl with black hair? Or is that not you?

    Definitely not one to overwork. I do value the sweet things in life... money sure won't bring happiness (at least for me - though I do like having it!). Life is too short... gotta enjoy it. That's why I've gotta finish all of these projects, make a billion bucks, THEN enjoy life, smell the flowers, and sip pina coladas somewhere hot (no Joe... Florida isn't hot... it's warm - haha).
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    • Profile picture of the author Joseph Robinson
      Banned
      Originally Posted by Ross Cohen View Post

      (no Joe... Florida isn't hot... it's humid - haha).
      Fixed that for you .
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  • Profile picture of the author Resale Rights Ninja
    Once there was a woman who's child was a diabetic and no matter what the woman said her son would not quit eating sugar.

    So she travelled many miles at great expense and difficulty to reach a guru to help her son.

    Finally at the feet of the great guru she asked "Please help my son. Sugar make him very sick and yet he will not listen to me when I tell him to stop. He respects you very much and if you would just tell him to stop doing this he will."

    To which the guru responded "Come back in two weeks"

    She was quite upset as this was a great journey and began to beg for help.

    "Return in two weeks" was all the guru would say.

    So she went back home and waited and then returned two weeks later.

    "Do you remember me?" she asked the guru.

    "Yes" he said, and then he turned to the boy and said "Quit eating sugar".

    The boys eyes went why and he nodded in affirmation.

    The woman was fricken pissed at this point and began to get angry "Why couldn't you do this two weeks ago?"

    To which he responded "Two weeks ago I was eating sugar".
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  • Profile picture of the author Ross Cohen
    @ J Bold - thanks for the insight. Interesting about your thoughts on the "25" idea. I think I explained it too briefly and too plainly. Ok - the secrets out.

    The first one I'm working on is "25 Tips To Launching A Successful WSO". It's not one of those "These tips will make your next WSO bring in $388,598" sort of deals. Not trying to create long-winded courses on this or that... not my thing. For example, one thing that generally increases WSO sales is launching/bumping immediately after a WSO was just bumped with a very high post/comment count. Just a random factoid.

    I feel like 25 of these sorts of factoids will help people. Maybe in their next WSO it'll give them a couple more sales... maybe many more. Regardless, if the WSO is several bucks, the return will be more than worth it. And they'll be happy and jump for joy and maybe even buy a product in the future.

    Any more plausible now? If not, slap me like Joe.
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  • Profile picture of the author Ross Cohen
    Hey, continue making fun of Florida and I'll call up my friend Mickey Mouse and he'll make sure you never get into Disney World again. Then you'd look something like this:

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  • Profile picture of the author Joseph Robinson
    Banned
    <<<<<<<<<<<<*Mickey Mouse Voice* "You were saying?"

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  • Profile picture of the author Tyke
    As somebody else pointed out, it sounds like you've got the drive and energy to take on all these projects, but it's a matter of allocating chunks of time to each one and probably prioritizing them as well, i.e. developing a plan of attack so you can keep all those balls up in the air at the same time.

    If you can get all this done and you're only 22, you could be a retired millionaire before you hit 25. Nice one!

    Best of luck,
    Ray
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  • Profile picture of the author Mark Singletary
    For just a minute forget the old eggs and basket advice.

    Most or all of the time shiny object syndrome is caused by lack (real or perceived) of success: This website isn't working or this ebook isn't selling or no one wants to join or I can't get good rankings this way.

    So we start looking for something else that will fill the need - whatever the need is.

    Is that the case here? I mean if you were bringing in $1,000 a day with your current project would you still be wanting to write the 25 tips guides? Would you be looking at other opportunities?

    If it is the case, fix the problem. Maybe the fix is to scrap something that has no hope. Maybe the fix is to learn and do better marketing. Maybe the fix is to get better organized. Maybe the fix is to raise your prices. Hundreds of possible fixes.

    Point is if your SOS is caused by failure or lack of expected success on your current project, a sure way to continue the cycle of failure is to look for something else instead of fixing the failure in one way or the other.

    What happens if the guides don't work out and the mentorship program doesn't work out? Find something else to add? Pretty soon you've got 20 websites again - all with little to mediocre success.

    Secondly if you already know you suffer from this, don't give in to it. Yes - quit while you're ahead. It sounds like you already know the answer (based on what you went through before and your thread title) but you want to convince yourself that you can still do it. Typical SOS symptoms!

    Lastly, if you're raking in the bucks and your accounts are overflowing with cash and you want to expand because of the maverick entrepreneur type thing then of course none of what I wrote applies. I hope that's the case.

    Mark
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  • Profile picture of the author Ross Cohen
    @ Mark - Well, no, it's not caused by lack of success. Things are going uphill and are doing quite well. I'm not making $1,000 per day - but at the same time I don't do this sort of thing full-time. I'd consider it a hobby which just happens to help pay the bills. If I was making $1,000 from it, I probably wouldn't by starting a full-time job this upcoming Tuesday (or maybe I would - as offline sales is a huge passion of mine, and I plan to love the job offer I received).

    I know what you mean about finding my way back up to 20 websites. I promise that won't happen! I think it's more of a self-diagnosed OCD. I obsess over ideas, opportunities, expanding, learning... not obsessively (so maybe I don't have OCD after all!)... I guess I'm a go-getter.

    Thank you
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  • Profile picture of the author Ross Cohen
    No. Only since yesterday. On a personal note: yesterday I found out my parents are getting divorced after 26 years. Changed my thought process. That's why. No hurt in asking the question, though.
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  • Profile picture of the author xtremeapp
    Originally Posted by Ross Cohen View Post

    I was on a roll, too! "Distracted" used to be my middle name...

    So several months ago (well... maybe 6 months ago) I found myself with over 20 websites, all of which I was maintaining. And I'm no full-time Internet marketer! At that point I was in college and doing all sorts of random things... my online business was just a side thing.

    Realizing I was in way over my head with work, I sold them. All of them! All except the one project I wanted to start and take off - my PLR shop. Selling the other websites - most of which were affiliate sites - provided a nice pay day for me to put some cash into the site and get it running. This has been my main project for a couple months now and it's coming along very well. Everything is going wonderfully.

    But on my trip to China (where I've been for the past 2 weeks) I started thinking of all sorts of random projects and whatnot.

    First, I've been thinking about offering a low-cost mentoring program. I know a lot of people are struggling and want to become their own boss - become an online entrepreneur - but things simply aren't working. They also don't have $697 a month to get a mentor, let alone even $97 for many. After all, the economy isn't the best at the moment. I thought offering something in the $37-67 range may provide me some enjoyment as I do love helping people, and some cash on the side as well (even though I do start a full-time job this upcoming Tuesday... but I will still have lots of free time).

    Second, I (on my round trip, 16 hour flight - yes - 16 hours both ways) started sketching up some guides. They're only on aspects of Internet marketing that I know a lot about and have been immersed in for some time now. For example, email marketing, list building, affiliate marketing, and product review sites.

    I was thinking something along the lines of "25 Tips To _____", and taking the knowledge I've learned and providing it to Warriors for a small lump sum. Maybe the e-Book for $4.97, or something like that. Certainly no more than $6.97 (don't make fun of my .97 obsession). There's 8 of these guides total, but I can't see myself completing them too quickly... perhaps 1 per month... or 1 per 3 weeks. I actually have to write up short, to-the-point sales pages for them.

    So all of this is a lot. Full-time job, moving into my first apartment in a couple weeks (hey, I'm only 22!), writing PLR, and now getting distracted with these other online ideas (mentoring and the products bound to become WSOs).

    I can do it though. At least I think I can. I don't feel burned out or anywhere close to it. I find myself rejuvenated, lively, and motivated.

    Do I quit while I'm ahead? Do I stick only with my PLR shop? I know getting distracted is bad. I just want to do more! I feel like I have more than enough free time to do all of the above.

    I guess writing this up made me realize I CAN do it... perhaps I just needed to vent. Or maybe one of you need to slap some sense into me.

    Wow, you read this entire rant? For that, I thank you.

    Ross
    Ross starting other business except the things you are currently doing is a very positive approach, however you need to ask the follow things before you plan to start your own Mentoring program, these include:
    1. Do i have enough time for this new business opportunity?
    2. Am i able to handle both online businesses at the same time while continuing my full time job?
    3. What are the chances of success of this business?
    4. Will my social life be on stake if i start that too?

    These are some of the questions that you really need to ask yourself, else both of your business as well as your full time job is going to suffer a lot! Thanks
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    • Profile picture of the author fluffythewondercat
      On a personal note: yesterday I found out my parents are getting divorced after 26 years. Changed my thought process. That's why.

      I'm very sorry.

      I don't even like my parents very much, but it was still a shock when it happened.

      They both remarried, which brought a certain special ickiness to life as well.

      You do have my sympathy.

      fLufF
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  • Profile picture of the author Ross Cohen
    Thanks Xtreme. I think it seems like I work a lot and am up all night working on my ventures based on what I wrote, but I really only work a couple of hours per day. I spend more time with friends, family, and the girlfriend than I work (perhaps a bad idea - haha). When my full-time job starts I'll get in a better, more productive routine. I generally have good time management (though sometimes it may seem that I don't) and have people to assist with work should I ever be overburdened with too much.
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  • Profile picture of the author cashcow
    You must have a lot of energy to take all that on. Just a full time job and family/life responsibilities would fill my day - lol.

    I hope you are not making the same mistake I always make and underestimating how long all these things will take.

    Mentoring can be very time consuming, especially if you are mentoring newbies. For $37 - $67 how much time do you plan to spend with these people? Will it be enough to effectively mentor them without taking up all your extra time or effecting your job?

    The guides you could do at your leisure so those wouldn't be too distracting, I wouldn't think. Maybe you should start by adding those in, and see how it goes.

    You can always drop the guides if you find that those combined with your job are too much, but it would be kind of crappy to drop the people you are mentoring in mid-mentor if they are taking too much time.
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  • Profile picture of the author eplanellas
    Actually, it sounds like you have some very good ideas. If you start to hender your creative juices they won't be there when you need them. Just keep your ideas in order and tackle them one at a time or when you have a chance. You never know how they would pay off.

    Also, you could start a business selling creative ideas!
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  • Profile picture of the author Sum1
    Ross,
    As a newbie to IM I was fortunate to land a place with a mentor using a WSO at a "make believe" price. But even then I did some homework to find out what kind of track record my prospective mentor had. If you want to put yourself out there as a mentor you may need to be able to show the "trail of your success" in order to get the "new fellow with little dosh to spare" to trust you. I suspect your best bet is to get the PLR shop going and use that to demonstrate your track record and work on the mentor role as a follow on from that. Hope that helps.
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  • Profile picture of the author Ross Cohen
    @ Cashcow - I was thinking about something along the lines of "send as many questions as you'd like, receive full, in-depth answers within 48 hours - generally, almost always, same day". Maybe $37 would be too low as I do plan to offer high quality. Perhaps $57-67 would be ideal. I find answering emails rather easy, though I couldn't handle 100 a day. I don't want low cost to be seen as low value. I wouldn't drop people - how dare you accuse me of such a thing! Just kidding.
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    • Profile picture of the author cashcow
      Originally Posted by Ross Cohen View Post

      @ Cashcow - I was thinking about something along the lines of "send as many questions as you'd like, receive full, in-depth answers within 48 hours - generally, almost always, same day". Maybe $37 would be too low as I do plan to offer high quality. Perhaps $57-67 would be ideal. I find answering emails rather easy, though I couldn't handle 100 a day. I don't want low cost to be seen as low value. I wouldn't drop people - how dare you accuse me of such a thing! Just kidding.
      LOL. Well I think for mentoring people might expect it to be an on-going thing so you'd want to make sure you have the time to keep mentoring them is all I was trying to say. Also, word of advice, don't let them send as many questions as they want or you will find yourself to be very busy.

      But what might work for both you and your mentorees is to charge per question or per set of questions. You know like 10 questions for $5 or something. That way they could kind of pay as they go. Of course, that assumes people have thought out their questions and I'm not sure if that is the case with a lot of newbies because many of them just don't know where to start, thus don't know what their questions are.
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      • Profile picture of the author Joseph Robinson
        Banned
        Originally Posted by cashcow View Post

        , word of advice, don't let them send as many questions as they want or you will find yourself to be very busy.
        Definitely this. Those energy vampires are just waiting for someone to satiate their hunger....
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  • Profile picture of the author Ross Cohen
    A very valid point indeed. Makes me certainly reconsider the mentoring angle...
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  • Profile picture of the author Joseph Robinson
    Banned
    You don't have to throw it out; but charge enough to make it worth your time.
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    • Profile picture of the author fin
      If it's only a part-time thing and you're just doing it for a bit on the side then I think you should do something you enjoy.

      I think Mark's right in that it's going to be easier on you to build up one thing and make it successful.

      I also agree with someone that the 25 tips thing is a pretty bad idea. Most people want to solve a problem or find out how to do a certain thing. Not read some tips a guy has turned into a WSO. That's not meant to be offensive or aimed at you in particular; just saying what I think most will be thinking.

      Just do what will make you happy.
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  • Profile picture of the author Ross Cohen
    But I'm no Joe Robinson. I can't justify lawyer-like prices like you.
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    • Profile picture of the author Joseph Robinson
      Banned
      Originally Posted by Ross Cohen View Post

      But I'm no Joe Robinson. I can't justify lawyer-like prices like you.
      Funny you should mention that, and you're not the first to do so. On the forum at least (where I haven't seen anyone charging close to what I do for writing, at least directly), it can seem like "holy crap, Joe is on top of the food chain."

      The reality though? In the sphere of freelance writing that involves serious webmasters (many of whom don't know or care to know of this forum) I'm still on the lower end of the market. There are people out there who charge and get $1 per word. Poop. See that dirty word? There are people who would be $1 richer for saying that.

      Anyways, I'm rambling a bit. The point is that your idea of a fair price is clouded by the bottoming out that has occurred on here. Charge what you are worth, there is a market willing to pay it.
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      • Profile picture of the author fin
        Have you ever thought about blogging in a subject you're passionate about?

        Maybe I'm just bias because I love the concept, but I think it's the most enjoyable thing in the world to build a business in.
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  • Profile picture of the author seeyou
    Action gives result while no action gives no result. Put an action plan in placeand follow it up then you shall see result.
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  • Profile picture of the author rrm
    Originally Posted by Ross Cohen View Post

    I was on a roll, too! "Distracted" used to be my middle name...

    writing PLR, and now getting distracted with these other online ideas (mentoring and the products bound to become WSOs).

    I know getting distracted is bad. I just want to do more! I feel like I have more than enough free time to do all of the above.
    For all you "getting stuck in the loop of shiny opportunities again" people:


    Ron
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  • Profile picture of the author Ross Cohen
    Fin, I think it was semantics on my end. My fault, not yours. Does "25 Ways To Optimize Your WSO" sound better than "25 Tips To Launching A Successful WSO"? I feel like what I'm going to be offering is really good - the wording though of the title, as it appears, has been making it appear as another senseless product. Also, blogging just isn't me. I enjoy it, but not as a business venture.

    I know what you mean Joe. The market has been flooded with such cheap content that expensive content appears to be an insane expense. Can't compare a Corolla and a Lambo. Oy... $1 per word. You can see a massive difference between .01 per word and .10 per word, but when going from .10 to 1.00 per word I feel like the difference is much smaller. For example your writing - I don't know what content 10 times better would look like.
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    • Profile picture of the author fin
      Originally Posted by Ross Cohen View Post

      Fin, I think it was semantics on my end. My fault, not yours. Does "25 Ways To Optimize Your WSO" sound better than "25 Tips To Launching A Successful WSO"? I feel like what I'm going to be offering is really good - the wording though of the title, as it appears, has been making it appear as another senseless product.
      Yeah, I think if it's useful content you can just word it in a way people will want to buy it. That, and a good sales page.
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  • Profile picture of the author bibs
    Maybe you need a mentor if you have no idea where to start...again. Focus on one method only before you jumped in from another method.

    As for me, I'm focused on blogging. As much I would like to join a $$$$ coaching program, I don't have the money to spend. I'm tempted to buy other shiny objects and it's better for me not to go to WSO section. Lol.
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  • Profile picture of the author Ross Cohen
    Turning the tables on me Bibs! I think I need less of a mentor, more of a decision maker. Or maybe neither. I've been entrepreneurial all of my life and as many fellow entrepreneurs can agree, ideas come frequently... and they generally seem like the best idea in the world so I, or they, want to act. Clearing a good idea and a good implementable idea are very different.
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  • Profile picture of the author Chris-
    How about finding some suitable partners to work with, plus outsourcing/automation? No need to do everything yourself. You sound like an ideas person, so you could team up with some people who are experienced in getting things done successfully, and/or learn how to automate or outsource a lot of the work. Most things can be outsourced, and a few things can be automated.

    Of course, you have to be careful in choosing partners to work with, and make sure communication is very clear from the beginning, as to who will do what for what rewards etc.

    Hope that helps

    Chris
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