Tuesday, January 01, 2008

My blogging balance sheet

Not too long ago, I took a three-day course on financial management for non-financial managers. For those of you who think that's a signal to doze off, let me say that it was a fascinating seminar led by an accountant who was by turns lively and cautious. And, as a result, was able to explain basic (and important) financial principles in a way that made them both entertaining and easier to grasp.

The heart of these tools (he said) is the balance sheet, an at-a-glance snapshot of a company's assets, liabilities and equity.

And that got me thinking about what a balance sheet for this blog might look like. So I've decided to reflect on the past year and see where I net out and if I created any blogging value.

MY(pr)PALETTE BALANCE SHEET - DECEMBER 31, 2007
(unaudited - not unedited)

ASSETS

  • 72 posts
  • 24 tags
  • 42 comments
  • 16 member blogroll (and a total of 55 blogs/feeds followed)
  • 12 Technorati authority rank
  • 1 & 2 rank of blog on Google (in a search of Martin Waxman)
  • Goodwill: sense of humour, voice, outlet for writing and publishing
___________

LIABILITIES
  • Posting something dumb, unfunny or downright dull (too many times)
  • One-way, column style of writing
  • Reluctant blogger (at first)
  • Too much time spent poking around the blogosphere
  • Less personal hours to devote to reading books, watching movies
___________

EQUITY
  • Blog voice
  • Posts I'm proud of
  • 240+ readers per month
  • Comments from people I don't know
  • Technorati rank
  • Google juice
Retained ideas:
  • 3 unpublished blog ideas in various stages of writing (that may or may not ever see the light of day)
_________

My analysis?
  • Reduce liabilities (e.g. spend more time reading books, consider following fewer blogs, writing less posts)
  • Increase equity by refining my blog voice and encouraging more conversation
And the outlook for 2008?
  • Target: 5 to 6 posts per month with time off for good behaviour in the summer and December
  • Stick to what I know and really like (PR, media, social/cultural observations)
So what's the bottom line?

Overall, I'm pleased with the 2007 results. It's been a fun and enlightening experience for me.

I hope you'll let me know if you think the assets jibe with the liabilities and equity and whether I've created some posts of value. And I hope you stick with me for another year.

Thanks to all of you for tuning in.

Happy 2008.

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