You read the headline correctly. Kind of. Steemit isn't the ONLY social media platform I use, but my total week over week earnings from all sources have TRIPLED since I first started using it.
How does this happen?
I'm certainly not the highest earner on Steemit, and I certainly don't have an audience as large as @larkenrose or @dollarvigilante, but I have managed to leverage this platform to significantly augment my own earning power in the short amount of time that I've been here. My experience is by no means unique, either. In the past few weeks, several other content creators like @sterlinluxan and @ftlian have also experienced significant gains.So how did this happen? How am I doing this?
This may come as a bit of a disappointment but the short answer is, "I don't know". Sometimes my posts earn two dollars; other times they earn twelve hundred dollars. Oftentimes, the content I think is really good won't earn anything at all. Other times, content that I feel is rushed earns way more than I expected. For the most part, I'm at the mercy of the Steemit community. However, I can speculate on other factors which may be contributing to my success. Some of this testimonial may not necessarily be beneficial to you in the short term, but there's a larger message or two here that I'm hoping you'll be able to walk away with, if you'll indulge me.
Doing what you're good at.
Before Steemit, I was already a professional writer and editor working in the software industry. I've dedicated my entire life to improving my written and verbal communication skills. For me, it just makes sense to do what I'm already good at. And since Steemit's platform is so convenient and easy to use, I'm able to continue with my career in the software industry while significantly augmenting my income with Steemit.
The great thing about Steemit is that it allows creators of several different types of content to coexist and thrive within a single ecosystem of exchange without seeking government protected monopolies in the form of what is euphemistically called "intellectual property protection".
It may seem like authors are best positioned to take advantage of the Steemit platform, but there's a burgeoning community of musicians, artists, photographers, videographers and documentarians here as well. It's possible that you may want to develop new skills in order to derive maximum benefit from this platform, but don't forget to leverage the skills you already have when producing content.
Make your most developed skills the star of the show.
Leverage your existing assets.
No, I'm not saying that you have to financially invest in Steemit, but given that you will have to invest time, you're going to want to get the most bang for your "buck".
The best way to do this is to leverage that in which you've already invested. As discussed in the previous section, this includes whatever skills you already possess. However, this also includes any production capital you may have accumulated, any connections you may have established and any audiences you may have built.
Do you have a YouTube channel with a lot of followers? Use it to your advantage. Do you run a Facebook page with a lot of followers? Use it to your advantage. Are you part of a Facebook discussion group with several thousand members? Use it to your advantage.
Get your audience involved.
Drum up hype among the people with whom you've already networked on other social media platforms. Make them aware of the opportunities on Steemit. Make it clear to them that they can be monetarily compensated for doing what they're already doing anyway on Facebook, Twitter and Reddit. If your network primarily consists of YouTube users, sell them on the idea of getting EVEN MORE revenue for content that they're already creating. This works and I know it works because I personally wouldn't even be here on Steemit if not for the hype generated by @sterlinluxan on Facebook and YouTube.
This is unfortunately where some people get disheartened.
What do Larken Rose, Jeff Berwick, Sterlin Lujan, Ian Freeman and I all have in common (other than the fact that we're Voluntaryists)? We've all spent years building up our audiences. Some of us have invested more time than others, though. Do I get disheartened that Ian makes more than me? Does Ian get upset about Sterlin making more than him? Does Sterlin get bent out of shape over Larken making more than he does? Do you see Larken complaining that Jeff makes even more than he does?
Absolutely not. In fact, the relative success of those producing similar content is a market signal to each of us that there's demand for what we're doing.
And besides, it's never too late to start building an audience.
Except in extremely rare circumstances, there's no such thing as overnight success. Don't bank on winning the internet lottery by expecting every post to go viral - especially not your first post. There are more factors outside of your control than you could ever be aware of, but one factor firmly within your control is your access to your existing network of connections, and how you make use it. There's always more you can be doing to build up your network and put yourself out there.
Keep your output consistent.
Posting more than four times per day is never a good idea, but neither is posting once per fortnight. By posting at consistent intervals, you set an expectation for your audience so they know when to look for new content. If a certain piece of work is taking so long that you run the risk of failing to meet this expectation, try dipping into your reservoir of previously created content from other social media platforms. The likelihood that your entire audience has consumed 100% of your content is extremely low. Reposting your older content on Steemit will tide your audience over until your new content is created. Feel free to spruce it up or give a brief explanation of the content for good measure.
Always be improving.
It's never a bad idea to try to outperform your own previous work. And while you don't have to compare yourself to other people, it wouldn't hurt to take notes on what others are doing. What works? What doesn't? What do people respond to? There are already more posts than any one individual consume, so Steemit is a buyer's market. Content creators are traditionally used to leaning on government granted monopolies in the form of "intellectual property protection" whereby competition is prohibited, but that isn't the case here. Either you find a way to create content that people value or you don't get paid.
That's just the way it works.
Don't forget the Pareto principle.
80% of effects are generated by 20% of causes. As such, 80% of your returns will come from 20% of your output. It therefore can't be stressed enough how important it is to not get too emotionally invested in the market success of a single piece of work. To some extent, it will always be a numbers game. If you get upset when faced with anything less than a warm reception, it will hinder your output, which will hinder your consistency, which will hinder your returns.
Like I mentioned before, I've written pieces that I valued extremely highly but which netted nothing in earnings. In fact, I wrote for years on social media before seeing my first penny. Value is an expression of subjective preference that occurs in the mind of each individual. No one cares how much you value your own work; they only care how much they value it. You have no control over that.
Conclusions
The market is going to do what the market is going to do regardless of what I say. We know this much, though: Complaining about not making money isn't going to make you any money. Abstaining from producing content isn't going to make you any money.
This isn't government. There's no authority to appeal to for wealth redistribution. Yes, some users have more influence over payouts than other users. Yes, some users have larger audiences than other users. Absent government intervention, influence and resources tend to accrue to those who make the most efficient use of them. Equality is a myth. I'm sorry if you're just figuring this out now. The question is: what are you going to do about it? Are you going to sulk and complain? Are you going to leave money on the table? Or are you going to step up your game and do everything you can to create content that people value and want to consume?
I'm personally going for the latter. I challenge and encourage you to do the same.
About the Author
I'm Jared Howe! I'm a Voluntaryist hip hop artist and professional technical editor/writer with a passion for Austrian economics and universal ethics. You can catch my podcast every Friday on the Seeds of Liberty Podcast Network.
This really hammers the point. Success isn't built here overnight, despite the fact it can seem like it and some people here want to market Steemit that way. First and foremost, this is a community of people with a complex web of interests. Connect with them. I spend as much time on the chat or more than I do putting out work, and I've been fortunate to be a part of the burgeoning fiction-writing subcommunity that's being developed here.
This isn't a short game. This is a long term investment, and it will pay out over time.
Also, I'm stealing that KCSO banner you made or someone else made and probably making a t-shirt out of it.
I'm personally also taking a long position, especially on Steem Power because I value having influence in the community.
Likewise. My parents recently gifted me some money that I'm going to invest in part into Steemit.
Loved it :)
One thing that I want to comment on is the regularity of posting.
I don't.
Now, this might seem like a vice, but I consider it, in a way, a secret to being able to keep my voice. Certainly, I can, could, and most definitely will need to improve it (not for earnings, but for getting the message of freedom through to people), but I will not subjugate myself to the format style of TV viewings that people seem to think is an utter necessity.
I've never been able to hold to that, and I'm fairly certain that my anxiety of "making the post" will delete any value of thought that I'd hold to bring to court. I post when I want to and when inspiration hits. Sometimes that 10 times in a single day. Sometimes that's twice a week.
Unless... you have a recommendation for a way of doing it that won't produce anxiety? I want to enjoy my time here and writing here. I don't want to look at the next day and go, "Oh shit, I have to write something today again." That produces writer's block. And besides: it's not like there aren't 10,000 other people to choose from. Y'know?
If your goal is to enjoy yourself, I'd recommend continuing to do what makes you most comfortable. There's nothing wrong with that as long as you aren't doing any harm to others.
How do you know if you're doing any harm to others or not? Some actions that seem like they aren't affecting anyone are in fact quite destructive. An excellent example is watching pornography. Thoughts?
What if instead of holding yourself to a minimum output, you simply made it a point to limit your posts to twice a day, no matter how much content you have waiting in the wings? On days that you aren't feeling inspired, you still have value to offer your audience, and on days that the stars align and brilliance flows out of you like a river, you can avoid drowning your audience, and make it more likely that they'll get to see more of your work in the long run. Hope, fully this is a different way for you to look at it that will help, @somethingsea.
That's a good point. I assumed that most people would struggle to keep up with demand but it's possible that one may already have so much content that they could supply demand for weeks or months. In the cases where you're brushing up against penalties for posting too much, it would definitely be best to ease off.
"Oftentimes, the content I think is really good won't earn anything at all. Other times, content that I feel is rushed earns way more than I expected."
This quote hits home for me as well.
I think for us to find "long term" success here we must focus on the PROCESS. If we do that, everyone wins.
Really great article my man. I'm glad you were able to get some income coming your way. :)
I always like your work. And, thanks for the upvote on my recent post!
Interesting article. For me a daily routine of writing, planning and the many things that make up a routine is important. The routine can be relaxed and set to the pace where I enjoy life but it gives me the needed structure to get things done.
This is an excellent piece, with reminders that are useful to me as I start the Steemit process--particularly to not get too invested in one post and to maximize one's existing competencies.
I can see your writing skills are well honed. This was an informative and educational article. I have followed and look forward to seeing more of your stories.
You have me so PUMPED with this article, I think I'm gonna start the day tomorrow with a bowl of construction nails drenched in motor oil!!!!
You also win the internet quote of the day: "Value is an expression of subjective preference that occurs in the mind of each individual. No one cares how much you value your own work; they only care how much they value it."
Interesting article, @jaredhowe. I was curious about voluntaryism and read your piece, "Vitriol and Voluntaryism: Overcoming Reactionary Contempt." Your comments about not taking criticism or projection personally couldn't have come at a better time. I was about to launch into a ridiculous lecture on FB in response to a Facebook comment but decided to take a Steemit time-out and stumbled upon your writing. So glad that I did.
Thanks for the tips!
Great post @jaredhowe - and I am doing exactly as you said - BUILD AN AUDIENCE. I've been here on Steemit for nearly a month and while I haven't made nearly the amount you have on this single post, I don't have any plans of giving up.
Building a tribe takes time and as a writer, I prefer followers who actually like my content and not just the serial upvoter/visitor. I crave the interaction because it means they're paying attention. So, nearly a month here and I hope to celebrate 60 followers by the end of the weekend! It's not great, but it's growing, right?
As much as I'd like to make Steemit my full time job, it's not happening fast enough to quit my other avenues of income. As a freelancer, I take jobs wherever I can get them. Thank you for the tips and the motivation. :)
I love your Steem graphics, are they available for use. I would love to refer back to this post from my website, and YouTube channel especially if I can use the one with the rocket and Steem logo. Let me know if that's possible. My site is http://www.fpc-virtual.com and YouTube channel is FPCVirtual.
I love your blog layout it looks awesome and very visual. Appealing to the online audience with fresh new looks and also in social media helps for sure when the incentive and earnings is right. I hope Steem will make it to the mainstream level so it can become a mainstay as it is. I'm sure if it does make it that far there will be more functionality in the near future. I like it this way for now though. Pretty cool as a blogging and networking platform as is.
Oh and I been alerting folks about it and of course Steeming away :)