The Opportunity Cost of Blogging
August 16, 2010 by admin
Filed under Social Media
It's 12:46 p.m., and I'm thinking about the ten other things I should be doing besides writing this blog, and if I should be blogging to begin with.
A few years ago, I attended Strategic Coach training. The purpose of this particular program is to help CEOs define what their “unique abilities” are (essentially the few things they are very good at, and enjoy doing) and to stop doing everything else. In theory, this helps you to simultaneously increase earnings and free time. In practice, it actually works. And thank goodness, because for what it cost to attend the program, it better have!
The problem is that writing did not make the list, and yet here I am, ten minutes later, only half done with writing this blog post.
While I can calculate the hard cost of writing this blog (yikes—about $40 in this case), I have no idea how to assess the true cost, which includes opportunity cost. In my case, might my company be better off if I were fine tuning our products or thinking about new features to add? Or should I have taken a client out to lunch instead of writing two blog posts this month?
I'm not suggesting that blogging isn't a vital part of our sales and marketing process, because it is. I am just saying that it makes me feel conflicted when I consider the opportunity costs, especially considering that there are a lot of things I'm better at doing then writing.
Done. Clock says 1:14 p.m.
Yes but. The opportunity costs in terms of times can be measured. What is more difficult to measure (often) is the opportunies that come to you because of your good writing. How far and wide does this post go into the world? So, whereas a good hour luncheon with an existing customer is measurable, measuring the numerous hours potential customers are spending with you (indirectly- through your writing) is certainly hard to capture. But dare I say, probably worth the effort!
Yes but. The opportunity costs in terms of time can be measured. What is more difficult to measure (often) is the opportunities that come to you because of your good writing. How far and wide does this post go into the world? So, whereas a good hour luncheon with an existing customer is measurable, measuring the numerous hours potential customers are spending with you (indirectly- through your writing) is certainly hard to capture. But dare I say, probably worth the effort!