May 26, 2010, 5:00 am

Running a Company; Making a Plan

by: The Financial Blogger    Category: Alternative Income,Make Money Online
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As you may already know, The Financial Blogger has been a major pillar in my online company. In fact, on my side of the partnership, this site is how I made my very first step to (hopefully) becoming a dotcom mogul one day! I started with no experience, average English writing skills but with a good dose of passion for writing and personal finance.

As I mentioned yesterday, we have sold Gather Little by Little and it is now time to move on to something else. We are currently working hard on Green Panda and on Intelligent Speculator; they both have a new design, Green Panda is now part of the Money Mavens Network and Intelligent Speculator has launched it’s Premium Investment Newsletter. The guy is a trader on a desk, trust me, he knows what he is doing 😉

However, if we keep going this way, we will still continue to slowly grow our blogs without really having a direction. After a while, you get into your day-to-day routine and you risk forgetting about your ultimate goal; making enough money to reach financial freedom. I guess it is human nature; we want the chaos to stop so we can sleep like babies at night. I think this is the problem with most projects; we get all motivated when it starts, we work like sled dogs on it and we have a tons of ideas. But once it is launched, when it is going well on its own, we simply ride the boat instead of adjusting with the sails to pick up the wind again.

This is why we are making a plan!

Most people think that plans are useless. In fact, I think they are right in 90% of cases. Why are plans useless? Because they are never applied, because they were  written on clouds instead of going back to the basics. If you want a good plan, you have to come down from the clouds and get down to the ground level. You need to have a global vision but nail your plan with practical actions.

What are we going to discuss during our weekend

We are taking a weekend at the end of May to leave for another city and concentrate on our company for 2 days. Big companies do it and their employees take this time off to have a solid drink on the house. I can’t say we won’t have a drink, but I can tell you can we will also work like animals ;-).

For the upcoming months, we will shoot ideas back and forth and make a list of the points we will discuss. It is an important year since we have to look at crucial elements for the survival of our company such as:

–         What happen if one of us gets sick or dies?

–         We need to calculate the insurance needs so the surviving partner can buy the other partner’s shares

–         We need a shareholder agreement (was not necessary at the beginning)

–         The direction of each blog and how we will make it through

–         The new projects we want to put in place with a schedule and practical actions

–         The parameters required to buy a new website (yup, we are on the roll again!).

–         A global plan to know where we will stand in 12, 36 and 60 months.

I really have the feeling this weekend will be the additional push to get ourselves outside our “comfort zone” and start working for real. Enough with the routine, now it’s time to make some serious money!

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Comments

Green Panda Treehouse is looking a lot better from the last time I took a look.

I’m also interested in building up online income; how long did it take before it started to become significant amounts? Right now I am in peanut territory, but I am still having fun writing posts and interacting with the community.

by: The Financial Blogger | May 26th, 2010 (2:58 pm)

Hey Kevin,

Yeah, we are currently working on a lot of things around Green Panda!

I actually wrote on TFB for a good 6 months before I saw my first month with more than 1,000 visits (i didn’t know anything about the web back then). I’d say you can think about making money with a blog after 6 to 12 months. However, like any other business, it requires time and hard work 😉

try to read on the topic, you can go and order :
Blueprint For How To Make Money With A Blog, you can see a review over here, it’s a great book to save some time and start earning more money with your blog:

http://www.greenpandatreehouse.com/2010/03/best-personal-finance-ebooks-from-bloggers/

Good luck on the business front. It’s very important to setup the proper succession planning between the owners. It can also be advantageous when the company is paying you dividend rather than a salary.