Cash Smarter

June 1, 2016  by: Aaron Crowe

Addition Through Subtraction: Dropping a Side Gig

Addition Through Subtraction: Dropping a Side Gig

Not every aspect of my media empire — as I half-jokingly like to call it — is working to perfection and making money. So, I’m taking a step and dropping a side gig by selling one of my websites.

The site — FamousParenting.com — was outside of my personal finance niche but was in an area I’m passionate about. The site wasn’t making nearly as much money as I thought it would a year ago when I bought it, though reader engagement was high and I put up posts every weekday in an effort to improve it.

I recently sold the site for about a third less than I paid for it, proving that my efforts didn’t work in the year I owned it. I look at it as a lesson learned in working for myself as a freelancer that not every financial move I make is going to work out.

Why I’m dropping a side gig

Dropping a side gig wasn’t my first thought when FamousParenting didn’t work out, but my options were to either increase the amount of work I put into the site or to sell it. I didn’t want to continue doing the same thing with it, which was to spend a few hours a week reading parenting blogs and posting the best of them daily.

As a father, I’m interested in writing about parenting and thought FamousParenting would be a good site to own because its daily goal was to highlight the best parenting blogs.

The problem, I discovered, was that if I wanted to write a parenting blog, this wasn’t the place to do it. The site is set up as a “best of the best” place to find the best parenting blog posts, and an original post by me would only get lost in the shuffle.

But more than that, I dropped the site because it wasn’t making money for me and was taking too much time reading and putting together posts. I’d rather spend that time working and writing for my other sites, all which relate to personal finance.

What side gig is next?

It’s addition through subtraction. Getting the site off my plate gives me more time to spend elsewhere.

I don’t mind doing as much work as I can through various side gigs, but when one isn’t working too well, it’s time to drop it.

Am I in the market to expand my media empire? Always. With a smart VA at my side and a strong interest in many subjects and writing often, I’m open to owning more websites that make passive income for my family.

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