The Business of Blogging and How To Take Over The World
At least 98% of what I earned here,
stayed here.
A lot of folks out there take out a business loan and use some of that money to survive while they focus on building up their business to a point where it becomes safe to finally pay themselves.
Then they must pay off their loan. Once that's all said and done, the business owner can then begin to treat themselves.
Once there's enough money stashed away, then it's safe to let the manager you hired call the shots while you're off on vacation.
Depending on way too many factors to list now, having that safe stash of saved up coin could take many years to achieve. Some never get to enjoy that vacation. Others go completely bust and end up worse off than they were when they started.
I see too many blogs here
going bankrupt.
Eating their seeds; instead of planting them.
Back in the day, we'd receive our post payout after 24 hours.
I'd watch people collect, and sell. Collect and sell, collect and sell, collect and sell.
How long will your business last if every time a paying customer hands you a twenty, you take the twenty, walk next door, buy beer and smokes?
I give that business three months.
No money to pay the rent.
How many blog/businesses here last more than three months? Not many.
In business, things can change, the curve balls come; it's always when you least expect it. One needs to be prepared for anything. In business, being prepared means you have a pile of money stashed away.
How many people were here, busy spamming away, snatching those tokens, cashing out; then moaning, kicking, screaming, yelling the moment they found out they didn't have enough of these shiny new Resource Credits they needed so they could continue slowly going bankrupt? Too many.
Who's fault was that?
Fingers were pointed at everyone but themselves.
When I started here, way back in late September of 2016, I was fed the same line of bullshit as the thousands before me and the hundreds of thousands who came after me. An overly simplified and disgustingly bland:
Get paid...
Get paid to write, get paid for your voice, get paid, get paid, get paid.
So what do people expect when they show up? What do they see when they look around?
Dollar signs.
I was fed the same line, I saw the same things; I was able to see through it all and what I saw was, potential.
The platform became the mall. My blog became my shop. Every voter became my customer. Steem Power became that pile of money that needs to grow and grow. That's my safety net. That's what's going to help keep my business afloat.
Eventually, like I've already done once before, I'll be able to take a tiny percentage out, pay myself, treat myself; go on vacation.
Timing. In order for my shop to survive, the mall must survive. If I hurt the mall, I hurt my shop. Can't pay myself until the timing is right, I want to put the least amount of strain on the entire operation as possible. Sell less, for more. Anyone who knows anything knows what I mean by that.
Business has been slow.
Lately.
Fewer customers.
I've been wanting to expand my shop for quite some time. Unfortunately, over the past while, some silly geese decided it would be wise to pay people to stop coming to the mall.
In business, I call that: "Backwards"
The customers who were paid to NOT be customers have been earning more than many of the shops.
Many shops around me are now all boarded up. Went bankrupt. Who saw that coming...
Moi
That's French for: Me
Many of my longtime customers; my regulars, they were paid to stay away from my shop. I don't blame them for avoiding this place. I probably would have done the same thing; if I didn't care about the shops and the mall.
Zing!
Oh come on! Just a little zinger. If we can't laugh about our mistakes, we're not learning from them.
And I don't hold a grudge...
Because!
Change is on the horizon.
I'm always excited about change. If I see change on the ground, I'm picking it up.
Though I'm not a fan of everything in the hardfork proposal, I am a fan of something.
Fair warning to all: Do not expect to see positive results overnight. Expect problems. That way, if there are problems, they won't bug you as much, because you saw it coming; remaining calm is easier to do. At the same time, if there aren't problems, then that sense of relief will be heightened; more rewarding.
I like that 50/50 idea though.
My customer is getting more. Any customer who came to my shop before; they got a free coffee. Now they'll get a free coffee and a donut. That's a good deal, I expect to see more people walking through that door.
I'm still getting 100% of what's mine. Plus those customers who were once paid to avoid my shop are once again being paid to come browse the merchandise; so of course, over time, I expect to see more customers and because of that, I expect to see those boards removed from the windows of the shops around me. Spruce up the place and allow the property value to rise.
Get paid — to be entertained.
We need far more customers.
Every shop owner here is dying for more customers.
Everyone knows it's hard to get your blog business off the ground here. What's so damn hard about reading what you like to read, looking at what you like to look at, listening to what you like to listen to, watching what you like to watch?
People do that all the time, and I think getting paid to be entertained is an easy sell.
Once the ball gets rolling here, after the smoke clears and the kinks are worked out of these changes on the horizon, I want to see a shift in how consumers spend money on entertainment. I believe that's the next step, or at least one of them.
They already spend money on entertainment, to the tune of billions annually.
Read this comment I left in a few places here and there:
Say a content producer churns out 260 pieces in a year, working Monday to Friday.
Content producers ask for donations these days.
Someone sends them $100. Okay, fine, but now that money is gone.
If someone were to come here TODAY and spend approx. $100 on STEEM, allowing the content consumer to give the content producer a vote worth a penny each day(approx. 250 STEEM), the content producer earns $2.60 per year before deductions, from each consumer who spends $100.
If the content producer had 10000 followers willing to "donate" $100, that's a million, down the drain.
The content consumer will be asked to donate again, and might spend another $100. A few years later, another $100.
If the content producer had 10000 followers willing to buy enough STEEM for a vote worth a penny, that amounts to $26000 annually before deductions to the content producer. The content consumer does not need to spend another $100 to support that creator the next year. The 10000 followers willing to spend $100 can also support nine other content producers with that same initial investment of $100. 10 content producers, 10000 followers spending $100 each, that's $260000 annually.
Spend $100 to be able to donate $26 annually, for life. That is a great deal if supporting content producers is something you do with your money. The consumer also gets a return on that $100! The deal of the century, if supporting content producers is something you do with your money.
That's only 10000 people purchasing 2.5 million STEEM. Do I need to explain what happens to the numbers when one creates high demand for STEEM? Things like the fact, as the value of STEEM rises, that vote that was once worth a penny also rises, without the need to spend or "donate" more money.
One million potentially in the door, quarter million potentially out the door. That's how you make money.
10000 followers is damn near nothing in this business. Many of those votes would be worth more than a penny, I just wanted to keep the math simple.
Combine that wisdom with this wisdom:
It's more about selling the idea to consumers. It's already happening all around us, people just don't realize it.
Every time an "established" content producer shows up, what happens? People cheer because they have a large following. The established content producer then starts churning out content, but their following doesn't come with them, and the ones who do, don't buy STEEM.
The established content producer forgot to secure their place here by explaining to their followers the benefits of purchasing STEEM and upvoting over the long term. They still ask for "donations". That money is thrown away and the consumer or follower must then donate again, and again, and again. That's silly, when we have a platform like this.
Instead of donating, invest. Then if that content producer isn't performing up to the consumer's standards, they can have their money back, or go support someone else, without ever needing to throw money away in the form of donations, ever again. Because these established producers fail to secure their future here, they often leave after only a few months(bankrupt), and the "benefit" of them simply showing up is nil.
The whole point is to make the consumer realize the benefits of investing in content rather than buying it, or donating to content producers. Offer incentives like the 50/50 rewards split to encourage more consumers to consume. There should be far more consumers than content producers here, like in the entertainment industry, because that's how this works.
The fact is, people already spend the money. STEEM can offer them a better deal, with any form of entertainment consumption.
This is about educating content producers as well. There's a reason why you can't find content from an established producer describing to their following the things I'm trying to point out. They didn't know(all they heard was "GET PAID"), but if they did know, everyone benefits.
What a long post!
Sorry, but it's hard to make money with just one paragraph. Ask any shitposter.
I've said a lot; maybe you've learned a lot.
Since I started up shop, my goal was to make some money. Making money is a little more complex than just, "Get paid!"
So, yeah. As I was saying, once the dust settles and the smoke clears, my sign is up, "Open for business," and the door's wide open. I want standing room only. Who doesn't?
Marketing
Everyone says, "We need marketing!"
...but they rarely suggest how.
Coming here to invest in a content producer instead of throwing that money away; showing up to get paid to be entertained. Easy sell. The movie theater doesn't even give out free... popcorn (and here comes the gif) but the stadium is packed when everyone gets one free beer.
TL;DR?
What the hell am I paying you for?
- It takes money to make money.
- Alter consumer spending habits.
- World domination.
More information:
Curators? Hello? Where the Hell Are You?
How Much Have You Spent on Entertainment in Your Lifetime?
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.
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I want to make a marketing plan based on your idea of hodl and tip forever. This is a two-pronged marketing approach, one must enlighten the content creator first; once the creator is sold, they will convince their audience to move over, thus free advertising. That should build a strong foundation, from there we can start to target the consumers, as we will have the entertainment in place. This whole blockchain will become mass adopted once we teach people to fish, both the creator and the consumer. Great write up, cheers mate!
I was watching a gamer live stream. I'm sure you've seen this before. The game is up on screen, the gamer is on screen off in the corner — and all these little animations pop up each time someone subscribes, or sends money. I was seeing so and so sends 20, so and so sends 50, so and so sends 5. A nonstop stream of money; money that's being wasted. I was thinking, this isn't a gamer, this is a stripper, and these people are just throwing their money away. If only they knew what was happening here on the STEEM blockchain.
I tend to agree. Hodl and tip forever, marketing plan, you're on it, you get it, all the power to you.
Dear @theycallmedan
That's a great idea. Can I help in any way, please do not hesitate to let me know.
Yours
Piotr
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I stumbled across you when I was reading your comments on a few content creator's posts who were getting disgruntled about HF21 (and I'd be lying if I said I wasn't initially annoyed about it all from a purely content creation point of view).
However, your comments (and others like yabapmatt, whatsup) and now this post opened my eyes a lot to the much bigger picture.
I joined steem in March 2018, then just a music producer (now I try my hand at travel blogs too), no idea what to expect with steem but it appealed to my blogging side so I was drawn in. Payouts were a bonus but not the fundamental reason I joined, I just wanted to be a part of a blogging community and thank f*** I found this place!
It's taken me a while to get to where I am now building up the steem pot and there was always something I could sense about steem and what was going on here, the potential, but I couldn't put my finger on it... Until reading this post which hit every nail on the head.
Now the mission is to get music fans and my friends/followers on this platform and chuck in a measly £100 one off and they can support any one they want to really and get that money back over time. It's damn genius!
Not only that but this 50/50 split should encourage authors to support other authors as long as they can get over the "woe is me" phase 🙂
Following you now and tagging @fionasfavourites too as I think she'd be interested in this.
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Opening eyes is good. Now we can see.
You get it, as a musician. You see it! Nobody has to buy a ticket to each show, and you're offering them a free beverage or two for showing up, they're entertained, you're entertaining, you're making money, they're not out any money. This can change music forever. I used music as an example in my rambling post titled Curators? Hello? Where the hell are you? linked above.
My eyes were probably only half open, slightly crusted over from still being half asleep, you know that feeling?
Hey the world is changing. It's not so much about the live shows any more as it is about streaming and social media connection and if fans can support their favourite artists more readily with busy lives and such then why wouldn't you look for alternative means to support your favourites?
The paradigm is slowly shifting but we are still a long way from mass adoption and there are a lot of creases to iron out as well on steem. However, the changes are coming and things are being tried so let's adapt and see how it goes.
I'll check out your other article as well.
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Still a long way away indeed. Even with this new hardfork and the changes it brings with it, I'm not 100% confident things will work out. Whatever situation it puts me in though, I'm going to have either sink or swim. I don't know if these folks are going to be excited to come and visit the shops or if they'll be pissed off about having to actually lift a finger.
My hope is people will want to help get the ball rolling. There's so much potential here and I can't stand working with people who fear stepping up to the plate to hit home runs.
If it improves things then it's a step in the right direction. If not, back to the drawing board. I personally prefer swimming as at least there's a chance of survival.
A one off £100 payment to support your favourite content creators for life and the opportunity to earn that back is massive. Stop recurring payments on subscription models like Spotify and support your musicians directly... Of course we'll need more development on @dsound and it is happening with playlists on the way and this whole place is still on beta. I guess there can be similar arguments made for other content creators too.
I'm with you on that front. I'll look into writing a "general public" blog which explains the concepts we've mentioned here and just how people can get involved. None of this complicated technology jargon that noone can understand and runs for the hill. Plain English.
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Yes indeed, plain English. Here's a quote of mine from How Much Have You Spent on Entertainment in Your Lifetime?
I read it and your "Curators, where are you?" post and wasn't overly surprised at the music curation side of things. One thing I may be looking to at least improve on with our @emalliance (Electronic Music Alliance) page is to get it more active and supporting music producers on steem.
You're right though, who's talking about the tech behind fb (OK apart from all the data mining) and the IT when it's all the entertaining parts of it whether they are cat montages or Ozzy Man Reviews, to films and everything else. It's the content people share links to that just so happens to be uploaded to a specific platform... But the economic models there don't reward consumers.
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@nonameslefttouse
I am so glad @nickyhavey called me over. Your analogy makes perfect sense - on so many levels. I confess I glossed over the maths - not my strong point - but the principles are spot on.
Actually, it's more than the analogy that resonates:
I joined Steemit two years ago this month. I was, I admit, lured by the prospect of earning, but as I'd been blogging elsewhere, I was under no illusion: like everything, it takes time to not just learn the platform, but also to build up a head of steam (pun most definitely intended). Although it took me a long time to work out what that meant. Once all that sunk in - after HF20, I began to get it.
However, by then, and in my own defence, I was staying on Steemit not because of what I could potentially earn, which at that point was (still is) a big fat zero, but because it provided a platform for me to share content and engage. It took me a while to work out that that is what curation meant.
No, I'm not good at reading instructions. I work better by osmosis. Often, I acknowledge, to my initial detriment. That said, I do learn from the lessons.
TMI, but
I am not able to invest fiat in Steem. Now, bar a couple of small delegations and payment for the hosting of my Steempress blog, all that I have earned, including SBD has been powered up or used to buy Steem. I will continue to do so because, after HF 20 and more recently, I realised that although I did come for the money and stay for the community, two things other things have happened:
With the advent of dapps like @steempress and @share2steem, I can continue with my WordPress blog and also Instagram. I’ve been blogging on WordPress since 2014, but for a number of reasons, including Steemit, I neglected that platform. I messed about on a couple of other interfaces, but none of them do it for me like these. It’s partly the diversity. It’s partly the market – your word: I already had customers (not a lot, but some) and they needed to be looked after.
with the appreciation of crypto currencies, including Steem, there'd be merit in hanging around and that my contribution to the platform would be creation and curation. I have long lamented the lack of time for curation. I had, however, begun thinking that HF21 presents me with more opportunity for this and your argument has solidified that view. Up to this point my strategy has been more puff posts and the odd longer post. Perhaps this can shift because the truth is, I like the creation process and I like the curation. Both, if done properly, take time. And I don't (who does?) have unlimited time to spend on Steemit?
So, in conclusion, your mall analogy for Steemit, jives with my view of it as a microcosm of the world or at the very least, a country; taking the view that one’s blog is a business, is exactly what I’ve begun to do over the last few weeks, and I am changing a few things that I’m doing. My challenge is that I’m not good at self-promotion and discipline balancing, well, everything.
So, having survived HF20 which was difficult, I am approaching HF21 with a different perspective, not least of which is to ride out the storm to see where it takes us all.
Thanks again
Fiona
Thanks for that succinct reply Fiona, I think I know where your time goes now 😛
But yea seriously, it makes a lot of sense now doesn't it? Let's not moan about things and adapt to the changes as we shape the future! We'll be ready for those new customers when they come and look after our current ones now 😁
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Yip. Brevity. I'm good at that. LOL
I have had a revelation. Not sure I can call it an epiphany, but the more balanced discussions I've read make good sense. I've also broadened my view of my blogging so that Steemit isn't the only focus. So...
:D
Do tell via a DM young time travelling bean... 🤔
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Will do. A little later. You might see a little shift in my PHC entry...
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OK doke, I'll keep my eyes peeled 👀
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The point of the basic math was just to show what we can do with existing money, if we find a way to divert it here. It's the same business model Walmart used. Simply offer the consumer a better deal. Then Amazon comes along, and we watch the money move again. In my mind, what's happening here could easily snatch billions from the hands of the existing entertainment business model. Build this place up to be the rich mall, and our businesses thrive. We're still on are own though. Nobody's success is handed to them, just like in business. If some fail, that doesn't mean the mall is a failure. That means their business was a failure. Tough pill to swallow for some when they were under the impression all they had to do was show up, and "get paid."
Precisely. And
Know your customer, invest in the business. Do the business.
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Yet another sterling piece of work to explain the troubles of yesterday, and today, sadly. Can the EIP and #newsteem turn things around for the Steem mall? Fingers crossed.
You kind of made that comment sound like the old Batman show..
I feel mildly pleased about this accident.
Just a couple of lines for the skim readers to digest.
Anyway, #newsteem !
stolen from here somewhere.
My writing isn't the easiest on the skim reader. And just in case people want to see more memes....
I made that one awhile ago. I think the post was called Depressed Batman.
Anyway... yup! #NewSteem!
No it isn't, which is a good thing for me. It means I have to concentrate, and therefore the words sink in better.
Fine meme Batman!
Sometimes you just gotta use a drill.
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Hey, good read yo. I agree 100% as well. I see steem as an investment that will pay off down the road, so I set all my posts to 100 SP, keep investing funds where and when I can, invest into other steem projects and try my best to be an active part of this platform.
It makes me smile to read posts like yours and learn that their are other shop keepers here in the Mall still open, still serving the public, still ROCKING!
Dropping a 100% upvote on this and going to start and follow you too!
Cheers~!
Hey I appreciate the follow! Feel free to hang out anytime; it looks like you're good at that.
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I sometimes wonder if Steem will take over the world. Our mall gets a little stronger every day, but we seem to be flying under the radar even among people woke to crypto; as far as the rest of the world knows, we don’t exist, yet.
But even for the household names, there’s an immense amount of misinformation. FUD is everywhere:
https://www.salon.com/2019/07/06/facebucks-are-the-last-thing-the-world-needs_partner/
Meh. I’m going to keep slowly building my Steem Power. My shop may be a little one in a less-travelled corridor of the mall, but I’ve got a long-term lease. There’s a pot of java brewing and fresh pastries.
I'm thinking, if the crypto crowd doesn't want us, we should just shoot for the entertainment crowd. There's more money there anyway. We don't even need to explain what a blockchain is to them. Just teach them how to push a button.
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An enlighten and educative post for every newbie like me to digest. Spent time reading your post without skimming any cause every paragraph has a point.
Thank you for this.
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Well thanks for taking the time. I had to trim the fat for this one. Say more by saying less, yet it was still quite long.
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They really do need to change the get paid..to post thing, to get paid to look and see and read. You like something, your read it, you see it, you enjoy it, you vote on it, you get paid.
Then I'd add, It won't make you rich, unless you spend a lot of money, which is cool with us, but you don't have to, but a little something in return is still better than nothing, and it's still more than anywhere else. So what you waiting for! Do not delay! Act now! I think the professionals would want to shorten that though.
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😎 What a great post and oh so true @nonameslefttouse ! Loved this part which I see all the time :
"How many people were here, busy spamming away, snatching those tokens, cashing out; then moaning, kicking, screaming, yelling the moment they found out they didn't have enough of these shiny new Resource Credits they needed so they could continue slowly going bankrupt? Too many.
Who's fault was that?
Fingers were pointed at everyone but themselves.
😎👍 Also loved your Read this Comments section! Well done, upped and resteemed.
Hey hey Karen, long time no see. Thanks for all of dat resteem stuff!
Lol, your welcome and yes for sure I have a bit of more time to curate right now so im glad to check out your latest posts here on the Steemleo site!👍👍👍😎
This is my first time checking out the Steemleo scene. Nice place you all have here!
Of course I still mainly focus on entertainment. Art, humor, rants, general pain in the ass. It's nice to have a place to go though for this kind of stuff because I do enjoy the business side of things. I guess my blog is a reverse mullet. Party in the front, business in the back.
Haha thats awesome! Might as well keep the party going on all the sites that we can I say!! Even if its only occasionally for posting I will be mostly curating as im very busy these days trying to finish our country property! Anyways never stop partying my friend!! 👍😎❤😂
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This is what they do to me! withed I am the deviol! u loose!
WARNING: IF YOU REPLY TO THIS ACCOUNT YOU WILL BE FLAGGED, YOUR REP HARMED AND ALL OF YOUR REWARDS REMOVED. DO NOT ENGAGE WITH THE TRASH. YOU HAVE BEEN WARNED
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WARNING: IF YOU REPLY TO THIS ACCOUNT YOU WILL BE FLAGGED, YOUR REP HARMED AND ALL OF YOUR REWARDS REMOVED. DO NOT ENGAGE WITH THE TRASH. YOU HAVE BEEN WARNED
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WARNING: IF YOU REPLY TO THIS ACCOUNT YOU WILL BE FLAGGED, YOUR REP HARMED AND ALL OF YOUR REWARDS REMOVED. DO NOT ENGAGE WITH THE TRASH. YOU HAVE BEEN WARNED
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WARNING: IF YOU REPLY TO THIS ACCOUNT YOU WILL BE FLAGGED, YOUR REP HARMED AND ALL OF YOUR REWARDS REMOVED. DO NOT ENGAGE WITH THE TRASH. YOU HAVE BEEN WARNED
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WARNING: IF YOU REPLY TO THIS ACCOUNT YOU WILL BE FLAGGED, YOUR REP HARMED AND ALL OF YOUR REWARDS REMOVED. DO NOT ENGAGE WITH THE TRASH. YOU HAVE BEEN WARNED