TIME IS THE ONLY ASSET
Since joining Steemit a few months ago, I've had a great experience writing, hacking, interacting, and learning from an amazing community. Unfortunately, the day I had convinced myself would never come...well...has. As I've learned to do with just about everything in my life, I find it important to constantly assess the ROI of my attention; some might argue to the point of neuroticism. Do I drive or ride my bike? What's the health benefits vs. the time savings? Do I text or call? Do I book a traditional hotel or get funky with a treehouse Airbnb? You get the idea! I'm fairly obsessed with analyzing the major variables that surround every decision, and in the case of Steemit, I'm having difficulty justifying the time spent on the platform (which actually feels a bit hypocritical as I type this very post). I was perfectly comfortable with the initial investment I knew had to come with learning the system (and simultaneously excited by the idea of being rewarded for creating useful content), but now I understand the platform in all its nuanced glory and the ROI (for me) simply isn't surfacing.
THE SUBJECTIVITY OF STEEMIT
This isn't to say I don't support the Steemit mission (I recommend reading the white paper if you haven't already); I will undoubtedly continue to be a major advocate. It simply doesn't provide a personal return given what I know is required (for good reason) from an investment perspective. This is, of course, very subjective. I have three other major jobs generating income, I have obligations as a husband, I write for other publications more suited to my interests, I do yoga and play soccer for my physical health and take improv classes and travel religiously for my mental well-being. Spending an hour crafting a high-quality post (this also being quite subjective...though not as much as some argue) for less than $1 in return (which I understand is still unprecedented among blogging platforms) simply isn't sustainable given the life I intend to create for myself. I understand that persistence and consistency are the variables to success here, but at this stage, I've decided that developing the necessary rhythm is at best a hopeful roll of the dice...again, subjectively speaking.
SET ME STRAIGHT...OR DON'T
So what might I be missing? Am I taking the easy way out by placing so much weight on ROI? I do love writing; perhaps I'm overlooking the intrinsic benefits I know to accompany the practice of creatively bringing thoughts into the physical world, but life is about making decisions and iteratively refining our path towards something more suited to the most authentic version of ourselves. I'll still surely be found lurking amongst the murky Steem, but not in the same capacity. Those who find serious success on Steemit have either been fortunate early adopters or tireless journalists who devote the time necessary to get noticed and rewarded. If you can point me towards another option to which I might be oblivious, I'll happily reassess and write a lengthy post about how wrong I was.
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@Tayken
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I think the biggest thing to take into account if you want to do an accurate ROI calculation for Steemit is whether or not time spent on Steemit is taking the place of time previously spent on other social media platforms (e.g. Facebook or Reddit) that had zero ROI. In my case every minute spent on Steemit has been an almost perfect one for one substitution for minutes that I used to spend on Facebook - minutes spent browsing other peoples posts, minutes spent commenting, minutes spent crafting my own posts.
I don't know your social media / blogging history so I can't say if this is the case for you - maybe you didn't spend any time on Facebook, or maybe you still spend the same amount of time on Facebook and have added Steemit. These are all things that would impact the ROI. But if Steemit is replacing Facebook and paying anything it is absolutely worth the time investment.
The other big thing to take into account is that ROI for Steemit will increase over time, maybe not exponentially, but it will increase nonetheless. The exact same posts that are earning you a dollar now with 278 followers might be earning you $5-10 with a thousand followers. You have to keep this in mind when calculating ROI - the return is going to increase the longer you keep at it.
Very honest response @carlgnash! These are the interactions that keep me hesitantly coming back.
Therein lies the issue...I really don't invest significant time in any other social media platform. Almost anything I post is automated for the very purpose of time efficiency. I have a visceral and judgmental reaction to anyone who spends significant time thumbing through the fake filter bubble of Facebook. you make a fair point about the increase over time (though I'm not sure it's exponential), but again, simply posting good content doesn't necessarily lead to 1k followers. That said, I agree that if it's your intention to build a fan-base, it makes a ton of sense to do it on a platform that gives back. Thanks for the thoughtful reply!
No problem @tayken - you seem like an interesting guy and willing to engage in an honest conversation yourself - so I vote selfishly that you should stay active here in Steemit.
To that end I am giving you a bellyrub, a randowhale and sharing some lovejuice - they should be crashing the party soon.
I hope I'm not coming on too strong LOL JK
Stick around :)
@bellyrub is a new one for me, but it feels like a gentle touch ;)
I'll still hang around, rub bellies, exchange pleasantries, and partake in the occasional mental joust...but I may just have to take my foot off of the posting pedal.
Appreciate you, and not at all. If you were a lady, I'd be inclined to buy you a drink 🥃
Thinking about the rewards only is not conducive to building friendships.
You are correct in stating that time is an invaluable asset. You tested the Steemit waters, and have come to an epiphany.
Have you thought about cutting down your Steemit activity by 80% instead of walking away completely? It is still evolving and I find the likes of Facebook and Twitter to catch up to the concept of rewarding its user base in some form/fashion or risk a large migration of its users to platforms like Steemit (even $1 is better than $0 from the spirit perspective).
Well said
Good call! I have no intention of throwing in the proverbial towel, I just can't invest the time I know it takes to craft a post I know to be necessary here.
It's simple (at this point):
2 hours invested writing (which still only yields an above average post), for an average return of $1.14 = poor investment of time. Trust me, I wish that wasn't the case, because as I said, I love everything #Steemit represents.
I understand. Good luck with your other endeavors!
Keep in mind also, that just about everyone on Steemit reaches their breaking point. It is when you crack, that your mind is able to easily digest a new paradigm.
This is awesome! Steemit is the new cult of the mysteries exploding initiates' brains one at a time with an accumulating dosage of hallucinogenic connectivity :)
you are mostly correct. Steemit is a new paradigm, so the Steemit ad you saw, "Get Paid To Post and Vote." was crafted for the current mainstream commodity-centric paradigm, not the actual Steemit gift economy. This new paradigm can only be understood once the old paradigm is cracked, dissolved and thrown to the gutter. Most people quit Steemit at around the time they crack. The ones who stay find out the mystery.
I always look forward to the mysterious. Thanks for shining an interesting light on my experiences here. Your comments on this post made me stop and think a little about my own goals and expectations for Steemit and how they have already been shifting
I agree that the words of @stellabelle bring intrigue, but I'm still not clear on the message. What did the comment make you think...specifically? I'm open to having my mind changed, but clear and concise language will undoubtedly need to come with any shifting of tides.
I can speak to what @stellabelle 's words meant to me - not sure if it was the same message that was intended to be received, of course. But it tickled something that has been growing in my awareness - that taking actions on this platform with the expectation or even hope of a return isn't as magical as using the power of this platform with the expectation and hope of giving a return to someone else.
ROI is inherently a selfish concept, measuring cost (to self) and return (to self). Perhaps measuring how much you can give to others with a given investment of time is a better metric for Steemit - every activity that creates connections and builds that web of connectivity is adding value to the platform. Making an honest comment might only take a few minutes but might add as much value or more as a post that took hours to compose, because it engages someone else and continues a conversation instead of just being another drop falling into a disinterested ocean.
My take on @stellabelle's comments is that once you have embraced the potential that Steemit has for GIVING is when the platform will become fulfilling and the investment worth it. It reminds me of the tangle (directed acyclic graph) that IOTA uses, where every new transaction must verify two older transactions. This is the social equivalent, the platform allows you to give out more than you can expect to bring in, through the constantly recharging voting power, through resteems, through comments - it is easier and more time efficient to do these things than it is to post. Does this perhaps discourage some content producers like yourself? Sure... but it also ensures that connections are forged, it ensures that it is not just a platform of one-way mirrors and loudspeakers, not just a platform of a thousand voices blaring out and nobody listening. It is not another blogging platform, it is a platform that at its core encourages people to help and gift each other. The more people that embrace this, the more the platform will succeed. The initial reward may be more of a social reward and not a hard $ ROI, but this should actually serve to build a stronger and more long lasting community of people who are committed to helping each other and in the process boosting Steemit.
I woke up this morning with a simpler way to look at this. I imagined the Steemit ROI question in terms of a relationship. The old paradigm (@stellabelle referred to as commodity paradigm) is like entering into a new relationship thinking about what the other person can do for you. The paradigm shift is that point in a relationship when it stops being about yourself and honestly becomes about what you can do to help your partner.
Most of the folks I have encountered so far on Steemit who are successful in terms of large followings, lots of SP, high reputation - the measurable metrics - all seem to have things that they are doing to help the platform. Personal projects to give back to Steemit. And that seems to be driving a lot of the engagement in a positive feedback loop. They are in healthy relationships with Steemit.
What a lovely way of putting that ideology. I just wish MORE people would adopt that idea! I'm working at changing the mindset of people and you get my 2 cents for doing your part.
Very astute interpretation @carlgnash and one I'm not overlooking. I think my use of ROI was fairly loaded and caused some of my own confusion. I completely agree that feeling the positive cycle of giving with no expectation can still be a very positive return on investment.
I suppose there's just a separation from humanity that may be creating this conflict for me. Even as I type this...I'm staring into my phone...and while the potential to connect and create positive change in others is at my fingertips, I still can't escape some degree of guilt. Anyway, I need to dig into a few more posts from users shared by @stellabelle. I'm sure I'll have a different story to tell with each new exposure to what drew me into Steemit in the first place :) #upvote
Your last sentence is genious!
This makes it sound like I may need to be medicated and put in a padded room ;)
I've fully digested the new paradigm, but do new paradigms always serve everyone?
Only those who truly believe in the new paradigm. For those who don't believe, there's nothing.
It looks quite hard because everyone is encouraging whale posts more than minnows posts.
Awesome analysis!
I'm also discouraged by comments that come without substance. What about the analysis did you find awesome?
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You're treating Steemit like the commodity economy not the gift economy.
@stellabelle you're not wrong, but what percentage of users are treating it as such? Simply shifting a perception doesn't change the fact that we all must find our own personal recipe for invested attention. Perhaps the commodity connotations tied to terms like ROI set this post on a perceptual course I didn't intend??
there is a problem with the current mindset, paradigm. If you study what @fisteganos, @ogoowinner and others do, you'll surely start to get it.
humility and seeing yourself as a part of the many solutions for steemit's success is closely tied to creating bonds......with people who are deeply invested in the future of this platform.
@stellabelle I appreciate the suggested follows and I really do share your optimism. I think I'm just in self-discovery mode regarding my own priorities and goals. I appreciate you being here as part of that North Star I know to exist.
This post has received a 23.90 % upvote from @lovejuice thanks to: @carlgnash. They have officially sprayed their dank amps all over your post rewards. GOOD TIMES! Vote for Aggroed!
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You have approximately 600 Steem in your wallet. In my mind, you have already succeeded. If Steem does like Bitcoin and is worth $3,000 each, your value would be $1,800,000.00! That is almost 2 million dollars USD. I would say that is a pretty good ROI, wouldn't you? Even if Steem never does reach the $3,000 mark, but instead reaches only $1,000.00 each, your invested value will be approximately $600,000.00! Half a million is still pretty darn good for a few months of your time.
Yes, there is the other side of it and it can happen that Steem fails to go mainstream and never gets much past where it is now in value. In that case, you tried, hopefully made a few friends, and learned something along the way.
If I were you, I would probably lay low for a while and just check back every now and then to see how things were going, but focus on being a husband and looking after myself and my family. Those are important factors that cannot be bought back after the fact. I would not let my SP go to waste while I was away. I would delegate my Steem to someone who is working hard to promote the platform and grow my investment while I was caring for my family. After all, isn't that what an investment is? A contribution of wealth that grows over time? If you have to WORK at it, that is not what I consider an investment; to me that is work to earn money.
It saddens me to see that you are thinking of leaving just after I started to follow you, but having read your post and my own experience with family matters and the consequences of not spending enough time with loved ones, I would not try to dissuade you from taking time off. Family definitely comes first. And Like I said, you may already have put enough into it to see a wonderful ROI in a few years.
My family is already grown up and have gone their own ways, so I have the time to keep trying to make this platform grow. If you do decide to take a break, I would greatly appreciate being considered for delegated Steem. I think it would make a huge difference in my ability to grow the small community I am currently trying to build.
Thanks for reading this far and good luck in whatever direction you decide to go.
First off, know that I made an initial investment of my own $$ to get off the ground and I've already lost 10% of that and my voting power is half what it once was (that's just for context...I understood those fluctuations would come). I agree with everything you've said and I appreciate the optimism, but as you eluded to, the timing in my life is the key factor. I'll still invest where I can, and know that I appreciate each and every follow. I'm humbled daily and keep perspective on what attention is worth these days.
I do need to look into delegation options if I take the hiatus more seriously, so I'll keep you in mind. Could I get a snapshot of what exactly you're trying to build?
Oh my... I guess you bought in when it was high. I was wanting to do the same, but got frustrated by the onerous requirements of setting up an account at an exchange, so decided to simply forget about investing and simply earn what I have. Buying in helps with faster growth, but I'm OK with taking it slow.
My plan is quite simple. It involves voting on everyone that participates on my articles, games and contests. Encouraging others to also vote on the responses made by everyone and reminding people that vote-buying is not helping the long term health of the platform. That they should instead actually use their votes to support others and thus build the community as a whole. Every week I give away all the SBD I earn from my contest, plus vote on all contest entries. By having delegated SP, my votes will actually give out a little bit more than they would without the delegated SP. That way, everyone wins something and the contest winner(s) get a bit more.
I am seeing signs of an impending split to a 2nd version of this platform that may come within a month. I suggest you stick around for that because I was told that whatever steem you have at the time of the split will be duplicated into the new currency, Juice. Also, the first rewards will be larger than normal, so worth grabbing a bit of that pie. You sound like a real decent person, so I wouldn't want you to miss out on that opportunity.
Thanks! I certainly don't have intentions to run for the hills, so I'll be around for any juicy forks in the road. Appreciate your perspectives (always) so thanks for being a part of my journey.
You're welcome, and thanks for being part of mine. I did make a post with a link 'for my followers' so that they can opt in now and duplicate their account status for the new coin. I urge you to check it out.
I also JUST finished uploading another post attempting to get more people to become engaged with their followers.
I got a bellyRub and this post has received a 7.11 % upvote from @bellyrub thanks to: @carlgnash.
Very good post... i like steemit because its kind of a relief from other social networks that i just look at for no reason and the content is usually just blaaahhh.... of course there is a lot of blaaahhh on steemit as well but i think with the careful choice of friends here a lot of noise is canceled out. Good content and a bit of luck is neccessary too... but this applies for everything... most of us are just lacking the perfect idea at the right time... just like real life... Steem on and check out my channel for putting a smile on your face @dragonator
It's certainly different, and that I do appreciate. I'll always be smiling 😁
roi is a slippery slope here... as you invest your time and money, it gradually begins to work... although I couldn't do what I do if I didn't have 40+ hours a week do do this stuff. however the idea is hard work in the beginning pays off towards the end. For me, as a new writer, this site has exactly what I need to get me writing, and networking every day.
even if the platform tanks (not likely imo), I still have a bunch of work done that I wouldn't have gotten done before. so I guess that answers why it works for me, and you may have answered why it doesn't work for you...
why not just scale down your effort, and hang around... or is the problem you spend too much time in chat?
Yo @inquiringtimes
I know we have similar interests and intentions, but as you said, the variable at this point in time is, well...time. I just don't want to be a contributor of average content, so I struggle with the variability. My latest post is a great example...a few hours invested for a handful of views. That said, I agree that the act of creation IS the value in and of itself. I never intended to cut and run, but instead, continue to strategize in order to be the value that I think the platform (and users) deserves.
The issue is probably that your blog in general needs greater visibility... but how to achieve that? to me that's the real issue. you wrote a thoughtful article that I will read again after I'm done with my final edits on a post I'm about to publish (which actually goes over some of the points on how to achieve greater visibility)