A collegue of mine recently said, “I guess I see the value of blogging overall and for authors, speakers, etc., but [I] am interested to know how the ROI works for a consultant?”
A good question and not simple to dissect; however, I am going to try and lay out a framework here to help you make a decision. I will use the principles of value-based thinking laid out by Ralph Keeney in his
My fundamental professional goals are to:
- Professional development: maximize learning and build expertise
- Productivity: Add to the knowledge-base in my profession
- Service: Serve other in whatever I do
- Network: Build a strong professional network
- Finances: Make enough money to be comfortable and to retire someday
- Balance: work and family pursuits
In making this decision, it helps to consider the investment:
- Research and writing of blog posts (Time & Money: 1 hour a day)
- Reading and commenting on other sites (Time & Money: 30 minutes to 1 hour a day)
- Messing with and learning the technology (Time: 2 hours a week; Money: Nothing at the moment, but that will change I am sure.)
So in a typical week, I currently invest 12 hours on Communication Overtones and other Social Media activity. Take that number times your hourly rate as a consultant and you can see the opportunity cost.
So, is it worth it? Here is why it is for me:
Professional development: there is no better way to learn something than to do it. Plus, my writing skills and ability to pop something out have already improved; hopefully eventually lessening the time commitment
Productivity: I am still trying to figure out if the stuff I write adds to the profession, but I hope over time that it will
Service: What better service than bringing people information.
Network: I am starting to see the real potential of this community in terms of networking, and I am only three months in the game.
Finances: As for finances, right now my blog has delivered exactly $0.00; however, I believe the knowledge gained translates into a marketable skill that I can offer clients, thus $$$.
Balance: I decided that I would not blog on weekends so that it doesn’t take over my life, I mostly honor this pledge to self and family.
Measurement: See my post about how I measure my success on a day-to-day basis.
