You might be familiar with the old fable about a man and his goose. This was no ordinary goose, because this was a bird that laid a golden egg every day. Naturally, this man thought that he was very lucky, but he let his greed get the best of him. And in the context of Internet marketing, professional blogging, and otherwise making money on the Internet, the moral of this story can definitely be taken to heart too.
But let’s approach this fundamental lesson with a different kind of barnyard animal. Let’s take a look at an animal that is far more valuable than a regular goose and offers a lot more potential, just like how making money online has a lot more potential for profit that raising a single bird. Let’s say that you’ve managed to take care of a little calf, raising it to be a healthy and happy cash cow.
You’ve worked hard in nurturing this cash cow. You’ve put in your blood, sweat and tears into this animal with no immediate reward for months or even years on end. This can sound a lot like the beginning experiences for many new affiliate marketers or new bloggers. It can feel incredibly intimidating and difficult to earn that first commission check. But you want it, you put in the work, and you know it’s coming.
One day, your cash cow finally matures and you’ve got this massive beast on your hands. Literally. You milk this cow and you’re able to sell that milk in the marketplace to highest bidder. Maybe that milk has to do with the smartphone industry. Maybe it has to do with health and wellness. Whatever it is, you’ve finally managed to earn a consistent living with this cow.
That’s all great news. With each passing day and the more you care for this cow, the more milk it produces. Word of your cash cow spreads across the online land.
Out of the blue, someone approaches you saying that he would like to buy your cow. He says he wants to slaughter the cow to make some hamburger meat he can sell to the local diner. You’re naturally surprised, but the offer sounds tempting. He puts dollar signs in your eyes. You agree to the deal, get your money, and there’s a bonus hamburger waiting for you at the diner too.
The next day, there is no bucket of milk. The day after that, no milk either. Soon, the money you received from the sale of your cow, the one you raised and nurtured for such a long time, has dried up. You’re penniless and you struggle to get your hands on another cow to start all over again.
But what if, in an alternate reality, you decided to keep your cow instead? What if your cash cow kept producing more milk and kept putting increasingly large amounts of money in your pocket? What if you bred your cow, getting a whole new group of calves? What if you started to outsource the caring of these calves to freelancers and staff, so you could just reap the benefits in a more passive manner?
The fact of the matter is that you can experience a very similar scenario in the context of making money online too, except there is no physical cow. The possibilities are limitless and by slaughtering your cash cow too early, you could be leaving far too much money on the table. A pile of hamburger meat pales in comparison to a multi-cow operation with a steady flow of milk.
Does this mean you should never slaughter or sell your cows off for meat? No, not necessarily. You just have to weigh your options very carefully before you make that decision, because it’s not something you can go back and reverse. Rather than slaughter your cash cow, maybe you should try to milk it for all it’s worth.