MSNBC has an interesting article on social networking and its overload potential. While the article is speaking more to regular employed-type folks rather than small businesspeople like most of you, there are parts that are relevant. I think it’s worth the read.
The most important take-away for us, I think, is that you can’t do it all and you really shouldn’t anyway. Pick which tools will help and devote some effort to them, and let the others fall. Sure, you may hear about PhotoBob who got a gig because he used Twitter and you aren’t, but that’s fine–that’s his thing and not yours.
Remember that no matter what you do, you won’t ever reach every potential target and/or get every opportunity that might be a potential project for you. There is just no way to cover all the bases–even with a team of geeks working every system out there. Choose what you will do, put in good effort there, and stop regretting what you choose not to do.