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Passive Income Tips - Edition #12
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1.) Product of the
Week - Skype
2.) Jon's Business Update - Decision Time
3.) Website
Spotlight - My Blog Log
I use it to listen to conference calls. When I tested it for regular conversations the quality...well my wife said something like, [annoyed voice] "just call me when you get to a real phone..."
But for just listening to a conference call it is perfectly fine, and fr'ee is a good price:
They have a "points" system, which is like an affiliate program where you don't actually get anything for referring people :)
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Jon's Business Update
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This week it's decision time at Jigsaw Online Media Inc.
Long time readers of my site will know that I'm approaching the end of a four month leave of absence [to work on my business] from my very secure government job.
As time is running out, I need to make a decision whether to go back, or to stay the course and continue working full time on my business.
When I took the leave I thought four months would be ample time to
either succeed or fail miserably, but neither has happened, so the
decision is a bit tougher than I had hoped.
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The Manager
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If you received my last two newsletters
http://artofmoney.org/newsletter/10.html
http://artofmoney.org/newsletter/11.html
you'll remember me talking about my new found "manager hat" and the clarity that it has brought to my decision making to implement this important point of view in my business.
To the manager the decision of whether or not I should go back to work becomes a pure bottom line one. It boils down to a resourcing issue.
Is it better for the company to hire out its primary resource out
for 8 hours a day in exchange for a steady base income stream, or is it
better to accept less income [hopefully temporarily] and have the
resource work those extra hours in the business?
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Get the Emotion Out of It
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Quitting a secure job for the perils of entrepreneurship is bound to bring up a range of emotions. Currently my wife and I have no other income than what I make, so there isn't really much of a cushion.
What I like about putting on my manager hat when making this decision is that it takes the emotion and fears out of the picture...just a simple matter of what's best for the company.
As a pure business decision the return for loosing 8 hours of daily effort from the company isn't enough. The time is better spent inside the business, even factoring in all the other benefits [medical & dental for example], it should only take me a couple months to surpass the revenue of outsourcing my time.
The manager's backup plan [all good managers have one] is to find another job for the resource if we get into a financial crunch situation. He believes the resource is very employable at this time.
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Intangibles
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So the manager is clear that it is better to go out on a bit of a limb and keep working full time on the business.
The last thing to check is the gut response:
Going back to work = dull comfort.
Working full time in my business without a full time secure job as a safety net = nervous excitement.
To be honest a part of me wishes I had quit in the first place rather than taking a leave of absence. I feel now like having that job there as a backup plan has lowered my effectiveness in my business. I may just be the kind that works best with maximum pressure.
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The Real Manager
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I've talked it over with my wife and she is fully prepared to live with the consequences, good or bad, of me letting go of my job to work full time, with no safety net, on my business.
I don't know how it will turn out, but I know that I really want to find out. To embrace the pressure and challenge and see if I can take all the Rich Dad teachings and put them into practice and move beyond the numbness and financial limitations of working for someone else.
That's it for this week, if you'd like to make a comment you can use my contact form
http://www.ArtOfMoney.org/contact
or just hit reply.
Thanks for reading,
Jon
My Sites:
http://www.ArtOfMoney.org/
http://www.RealBlogVideos.com/
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Website Spotlight
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My Blog Log is an outbound click tracker for you blog. They seem to be
trying to develop a community concept where each blog has group of
readers and each blog has admirers, etc.
I use it for only the outbound click tracking, which unlike other similar services now includes tracking of AdSense clicks, including the size of the ad and page it was clicked on.