A valuable lesson from The Monetizer today about managing your time and projects. Last night was spent updating a blog that has received little to no attention from the Monetizer, because honestly it doesn't receive the traffic or make the money other projects do. In fact, the Monetizer tries to keep up with 6 blogs, which can be quite a task! The noticeable thing in doing this is that you may start to give more attention to one blog or site you run instead of others, losing RSS subscribers and potential fans. You'll also neglect doing the things necessary to build your blog up into a solid brand and could eventually self-destruct in your money making campaign!
The best practice is to have a game plan, and make sure you're giving the necessary attention to each of your projects, whether it be separate blogs, sites or money making ventures. The term "project management" fits well, because you really need to prioritize and decide which of your campaigns and efforts should get the most care. For example, if one blog is doing exceptionally better than others, it's definitely worth your time to give it the most attention and posts. Or if you really believe another blog can do a better job, then maybe devote more passion and time to making it better. For blogs, many experts recommend doing 3-5 posts per week at least. You can imagine how tough that is to do with multiple blogs.
This creates another question, do I need to do more than one blog? Not really, however it does make good sense if you have several interests to get a few going or even if you can branch out your current blog topic into subtopic blogs. The great thing about it, is maybe you do neglect a blog and while it might not get a fanbase or regular readers, someone might StumbleUpon or Digg an older entry you wrote. Once the traffic follows, you could be making money from a monetized blog you just have sitting around, which is the definition of true "passive income". You might also bore of the blog you've been doing, and going back to another project will keep you interested, and posting fresh new material. So having a few blogs in your pocket can't really hurt too much either. Just make sure to not spread yourself way too thin because it will definitely end up showing in your work product.