Monday, 26 March 2012

Does Time = Money?

The old belief is that time equals money: the more time and effort you put into something the more successful and profitable it will be.

When I first started to compose this blog post I instantly started to thing about "passive income", which is when you do little (or even nothing) but earn automatically.  I've discussed a few passive income options available to internet earners, and if you click here you'll see those posts.  But the majority of passive income streams are built on the hard work and time you put into a project beforehand.  For example, a passive income stream generated through the work your referrals might be doing on a site meant you had to spend a great amount of time building that referral base.  Alternatively you might have to spend time updating a website, writing a blog, sending out newsletters or posting urls to direct traffic to your site.

So it might seem that I agree with "time = money", but I don't!

There are sites out there which require you to spend ages completing tasks and clicking links for very small amounts.  Often these sites workout to be paying only $1.00-$0.50 per hour!  However, there is no skill involved.  Some sites can be paying you $4.00-$6.00 per hour, but these require good quality reviews to be completed, so a level of skill is required.

Clearly time does not equal money, but time plus skill equals money.  Therefore, when looking to earn on the internet you should use the skills you have.  If you can write well then writing reviews will be much more profitable you than clicking advertisements.

If you want to go down the passive income route, don't be disheartened if you don't see much money in the early stages as it will take time to build up your stream (and eventually river).  Have a strategy and stick to it.  Set targets and work on improving what you do, analysing both what did right and what you did wrong.

If you are not going down the passive income route the ultimate trick is to work out the quickest way you can earn money online - it's different for everyone so don't go wasting time where you won't make money.

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