I'm in a bit of a "creative void" regarding my business at the moment, and am reflecting on how I got here and what to do next.
About two years ago I made the decision to seriously attempt to create a successful business which could eventually support me with passive income.
Prior to that, I have primarily been a tutor for maths and computing. While much of my income comes from tutoring, I wanted to get myself out of the equation as much as possible so I did a lot of reading (Millionaire Fastlane , Built to Sell, Rich Dad Poor Dad and lots more), and took on board a lot of the lessons in these books. As a result, I have so far achieved:
- A blog with going on 150 posts, with about 5k monthly users and AdSense revenue of about $15/month. My mailing list is about 350 people. Python Programming and Computer Science Blog - Compucademy
- Four video courses on LinkedIn Learning, one of which has started paying royalties. The others may or may not, depending on sales
- My tutoring is doing OK and my rate is quite good, but I want to move away from this, or at least not have it as my primary income source
- I've tried things like affiliate links with book reviews etc., but no success. Mostly I think because I don't have the traffic.
It's hard to pinpoint my exact specialism as I have such a broad experience, but one attempt would be
> A highly experienced computer programming educator with a flair for making the subject accessible and engaging.
Looking forward, I'm not feeling very optimistic about my revenue potential. For example, writing blog posts is very time consuming, with little immediate ROI. The same seems to apply to eBooks, course creation etc.
With a mailing list of just 350 people, it's unlikely that any product I create will be profitable. I know growing my list is crucial, but I have invested a lot of effort into doing this, including creating a free email course as a lead magnet, which has helped slightly, but growth is still painfully slow.
Some ideas which are ratting around my brain are:
- write a book/eBook
- make courses for Udemy
- Get a proper job as my list needs more time to grow and it seems very hard to make money without one
- give up and try something completely different as I have given this a really good shot
- take a break and celebrate my modest accomplishments so far
So, the (hopefully) million dollar question is -
> What should I do next?
Any advice much appreciated.
About two years ago I made the decision to seriously attempt to create a successful business which could eventually support me with passive income.
Prior to that, I have primarily been a tutor for maths and computing. While much of my income comes from tutoring, I wanted to get myself out of the equation as much as possible so I did a lot of reading (Millionaire Fastlane , Built to Sell, Rich Dad Poor Dad and lots more), and took on board a lot of the lessons in these books. As a result, I have so far achieved:
- A blog with going on 150 posts, with about 5k monthly users and AdSense revenue of about $15/month. My mailing list is about 350 people. Python Programming and Computer Science Blog - Compucademy
- Four video courses on LinkedIn Learning, one of which has started paying royalties. The others may or may not, depending on sales
- My tutoring is doing OK and my rate is quite good, but I want to move away from this, or at least not have it as my primary income source
- I've tried things like affiliate links with book reviews etc., but no success. Mostly I think because I don't have the traffic.
It's hard to pinpoint my exact specialism as I have such a broad experience, but one attempt would be
> A highly experienced computer programming educator with a flair for making the subject accessible and engaging.
Looking forward, I'm not feeling very optimistic about my revenue potential. For example, writing blog posts is very time consuming, with little immediate ROI. The same seems to apply to eBooks, course creation etc.
With a mailing list of just 350 people, it's unlikely that any product I create will be profitable. I know growing my list is crucial, but I have invested a lot of effort into doing this, including creating a free email course as a lead magnet, which has helped slightly, but growth is still painfully slow.
Some ideas which are ratting around my brain are:
- write a book/eBook
- make courses for Udemy
- Get a proper job as my list needs more time to grow and it seems very hard to make money without one
- give up and try something completely different as I have given this a really good shot
- take a break and celebrate my modest accomplishments so far
So, the (hopefully) million dollar question is -
> What should I do next?
Any advice much appreciated.
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