Opportunity Cost of Development
I was chatting with fellow domain investor, Peter Davis, about my DogWalker.com project, and we started discussing the opportunity cost of my working on this project. Peter knows that walking my dog is part of my daily routine, so it’s not really costing me much, but it could be difficult for my blog readers to do the same type of project.
“What might seem like fun stuff you do in your daily routine would be real work to other people,” said Peter.
I absolutely agree with what he is saying here, and it is certainly something you need to consider before embarking on a project such as the one I started. My reply to Peter was that “I hope people see that if you have a hobby or are passionate about something, you can turn that passion into a business opportunity.”
Starting a business is tough – it can take a lot of time and effort to do it right, and even if you do it right, it might not be successful. If you are building a website related to something you are passionate about, it’s less like work and more pleasurable.
This is probably the primary reason why I am making little money on TropicalBirds.com, which gets close to 5,000 visitors per month, and why the project is stalled. I am not passionate about birds and really have no interest in them. It’s a domain name and website I believe someone will want to buy and better monetize, but until that time it was stay as is.
Reach out to Elliot: Twitter | Google + | Facebook | Email