Building Long Term Value from your Blog

last month
73 in steem

There are many blogs that attempt to teach bloggers how to generate long-term value. Most bloggers start out hoping to "get rich quick" and then flame out when they realize how difficult it is to monetize their efforts. Successful bloggers, on the other hand, take a slow and steady approach over many years.

Making money blogging is no different than any other startup. At first you must invest time and money building a business. It often takes years before you generate enough profit to cover the cost of your initial investment. Those who give up on their business before getting through the valley of death never see a return on their investment.

The partners in a startup are not paid salaries (because there is often little money), instead they are paid in shares. These shares represent the future value of the business after years of effort. If the partners attempt to cash out early they will receive next to nothing for their efforts. This is because their early effort only has value if they see their investment through to completion.

Solo Blogging Long Term Rewards the Traditional Way

As many of you are aware we have proposed simplifying payout period on posts to a single 7 day window. Some people have expressed concern that bloggers only get paid "once" and that makes Steem a sub-optimal place to blog compared more traditional systems that generate a ad revenue stream. So lets take a closer look at the traditional model.

A blogger, expecting to make it big, starts a limited liability company that owns his blog. He then spends money buying a domain name and pays monthly hosting costs. He deploys some free software (like Wordpress) and starts writing. Initially he has no audience, so he spends time and money to promote his blog and gain readers. It takes years to start making money.

If we take a best case scenario and consider an extraordinary blogger like, Steve Pavilina, who wrote a great article on "How to Make Money From Your Blog" then we can get a realistic "best case".

StevePavlina.com was launched on Oct 1st, 2004. By April 2005 (7 months later) it was averaging $4.12/day in income. After two years he was generating $1000/day in revenue.

That extraordinary success did not come easy, this man worked more than 40 hours per week for two years, spending 10 to 15 hours per blog post. He also invested a ton of time promoting his blog, learning technology, and optimizing for Google.

I usually aim for about 3-5 posts per week, but my posts are much longer (typically 1000-2000 words, sometimes longer than 5000 words).

That is a lot of work and it took him years with no income (or negative income) before it started really paying off. Lets be honest, most of us are not prepared to invest that heavily in earning money from our blog. We do not write frequently enough to generate recurring traffic or large organic SEO traffic. The revenue streams that worked for Steve in 2006 have long since dried up due to competition.

How much was each of Steve's posts actually worth? Individually they are worth next to nothing. Taken as a collection they are worth far more than the sum of their parts. If we assume he maintained revenue of $360,000 year for 10 years and posted 4 times per week then his average pay-per-post was about $1,400. He didn't get $1400 for each of his original posts, but those posts were what enabled him to build an audience that helped him monetize his later posts.

Cooperative Blogging Long Term Rewards via Traditional Means

Our own individual efforts rarely compound into the revenue stream that Steve Pavlina was able to achieve, but what if we didn't have to do it alone? What if we partnered with 100 people who each wrote one article per week spending 10 hours on it. Assuming all 100 people produced content of equal quality to what Steve was producing then they would generate 20 times the content of Steve Pavlina and in turn would achieve in 6 months what it took Steve 10 years to produce. Each of these people would own an equal share in a business generating $360,000 per year in revenue. At an obscene 20x future earnings, this business would be worth less than $10 million dollars and each blogger would have shares worth $100,000. Their average income per post would have been $3000.

The reality for the 100 bloggers is that their shares are only worth $100,000 if they keep producing the content necessary to sustain the $10 million dollar valuation. If they attempted to sell their shares and walk away then the market would greatly discount future earnings and a $100,000 valuation would drop to $10,000 and each blogger would be lucky to earn $300 per post.

You see, the value of your effort today is highly connected to your future effort and it relies heavily on compounding effects. If you stop producing content then your audience will dry up and fewer people will discover your old content.

Steem - The Ultimate Cooperative Blogging Platform

When you are paid STEEM in exchange for your post it is like receiving shares in a new blog. Early on those shares may be next to worthless, but if you see it through they can grow to be worth while. Imagine Steve Pavlina sold shares in his blog the first year of operation. He would have had some income, but it would hardly make him rich. Later, when his blog is generating $1000 per day he will find that most of that revenue is owed to his investors and that he would be lucky to bring home a basic wage. At any time the investors could hire someone else to produce similar content.

The only way to make a lot of money in this world is to spend your time building something you own. That can either be through starting your own business or partnering with others who are willing to share equity. If you are looking at the current value of the equity you are paid then you are doing it wrong. Your real pay day comes years later after your efforts compound to produce something of much greater value. Cashing out early denies you the benefit of this compounded return.

Those of you who earn $100 worth of STEEM today may see that STEEM worth $10,000 in the future after everyone's collective efforts compound. Sure, Steve Pavlina could have sold his articles for $100 each to some other self-improvement blog and brought home a minimal wage, but he didn't. He declined $100 dollars up front so he could realize $1400 in the future and bring home a $360,000 salary.

Conclusion

STEEM is its own long-term reward and there is no need to generate a revenue stream. Those that hold on to their STEEM naturally receive the long-term value that accumulates to the platform due to their post and everyone else's continuing efforts. It is far better to take your long-term gains as capital gains on STEEM than as regular income from ad revenue. This is even more true when you realize that STEEM has many sources of value that are far more lucrative than Google Ad Sense.

We could simulate the "long term" revenue model by paying everyone in STEEM POWER with a 10-year divesting period. You would post today and maybe earn $4.16 per day in liquid assets. If you keep posting for 10 years then eventually you will be claiming $1000 per day. Instead, we give everyone relatively liquid tokens. Those who sell today earn some money, but forgo the long-term revenue stream their content could earn them.

When someone buys the $1 of STEEM you earned today, they are buying the future revenue stream too. In other words, all STEEM payments are approximations for the net-present-value of all future revenue your post would earn discounted for risk and the fact that you are selling out and may stop producing content.

When you run your own blog you face significant risk, only 1 out of 20 full-time bloggers earn a middle class income. This means that the chances that you will achieve long-term return on your efforts must be discounted. When you join a cooperative effort like Steem, you diversify your risk at the expense of a lower maximum return on investment. This diversification still gives you compounding effects, but with a significantly lower chance of complete failure. Unlike solo-blogging, blogging as a team as the added advantage of network effect. This network effect means that the chance of community success is greater than the sum of the individuals.

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Sort Order:  trending
69
  ·  last month

i used to post once a month here and twice a month on my blog.
now i post here daily and once a month on my blog since i got so much love, votes and followers here i just cant let them hanging !

and people on my blog are with me since years so they know i sometimes post once a month and sometimes 3 times but never more.

76
  ·  last month

This is why it's important for people to understand that the quality of posts matters on the platform for it's current and future success, as well as what content is posted to generate future value or utility in people's lives. Think about valuing timeless content that serves people now and in the future.

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67
  ·  last month

I can appreciate that, and I'm not trying to start an argument, even though I'm in the "content quality is completely subjective" camp.

But how would you measure the quality of content? If not for their popularity. The way I see it, quality is subjective, popularity is objective. I'm sure everyone can agree that Steemit needs content that works as a "draw" for people to join Steemit.

But is a post on the latest phases of microbiology objectively high quality content as opposed to something else?

Top 5 Best Selling Books of All Time:

#1 – Don Quixote (500 million copies sold)
#2 – A Tale of Two Cities (200 million copies sold)
#3 – The Lord of the Rings (150 million copies sold)
#4 – The Little Prince (142 million copies sold)
#5 – Harry Potter and the Sorcerer's Stone (107 million copies sold)

My point being that it's all fiction. Entertainment.

Also, on Facebook light and fun content seems to get more likes than posts on microbiology. The big masses don't seem to join Facebook to discuss microbiology.

What say you?

Don't take this antagonistic, it's a sincere conversation opener.

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74
  ·  last month

opposing and radically different viewpoints are welcome. Echo chambers are what kills growth.

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76
  ·  last month

Content does have mostly subjective qualitative assessment, yet there is also content that has objective quality to it. Utility of content is one such measure. Knowledge about certain things has utility, and has more objective value than something that doesn't. Quality is measured in people work in many areas, even in creative, writing, and other areas you might apply as subjective. There are many degrees of quality measures to apply to different contexts. It's not about an absolute measure.

You're also conflating the issue of being able to objectively determine a valuation of something, with whether that's possible at all, by your argument with Facebook and other popular content. Popularity doesn't determine objective quality. Popularity doesn't determine truth. It's just a perception of what is trending and plays on emotional preferences of the most part.

Popularity is subjectively determined by peoples whims, wants and desires, not necessarily measured on actual meaningful quality motivations to improve their lives or the lives of others. Being led by basic emotional feel-good motivations is a non-reflective process, not a reflective, contemplative, thoughtful understanding of what to do and why to do. Populism, jumping on the bandwagon, is more in the herd group mind that individualist authentic thinking.

Anything happening is objectively happening, so yes "popularity is objective" but your conflating the issue here with what is meant. As I said, quality has subjective measure, and objective, depending on what your talking about.

Microbiology might have some utility for certain things, but there is other knowledge that is more useful in people lives if they could understand why. What is the utility of microbiology in someone's life? Will it help them improve the quality and condition of their lives on their own? Because the quality of important truths, principles and values for living, will help improve the quality and condition of our lives.

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66
  ·  last month

I would have thought popularity is subjective since it is subject to what people collectively think - similar to value

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76
  ·  last month

What people determine to be popular, is usually subjectively determind, but objective vauations can be used to favor something and everyone recognizeds that which makes it popular.

The objective part of popularity, or anything that is currently expressed in reality, is that it is currently in reality, as a certain quantity of whatever it is, hence it has an objective aspect to it due to it existing as a reference in reality.

People like apples but no oranges is subjective for the most part, but those people, and their liking something, is objectively true that they do or don't like something. So then, you could add up all the people who don't like something, and represent a certain popularity level against something. This is not looking at the subjective judgment of why people like something, but merely at the objective action that is part of reality: the choice to not eat the food they don't like.

I hope that clears it up. I was not saying popularity itself, is objective.

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65
  ·  last month

Approximately 5 Billion bibles have been sold and that makes it far and away the biggest selling book in history - http://www.guinnessworldrecords.com/world-records/best-selling-book-of-non-fiction/

Be careful which blogs you read - the author of that blog used Wikipedia as his source and we should never trust Wikipedia. The blogger pulled his data from a fiction only book sales page so the only result one could expect to receive are fictional - https://en.wikipedia.org/wiki/List_of_best-selling_books#More_than_100_million_copies

Always check your sources and trust no-one - truth!

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52
  ·  last month

I would estimate that over 30 billion bibles (or versions of it) have been produced since its creation.

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50
  ·  23 days ago

Wikipedia is trust-able if and only if the fact has its references to good sources.

Any person can edit any article, and it could be the case that when someone reads the article, it has just been modified with any false statement. Very often people revert those changes. But it could be the case when someone is reading when anybody had reverted them.

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51
  ·  last month

The greatest concern with respect to this argument and long term value is objective quality. Whilst I have faith in Steem and Steemit as a revolutionary use of blockchain technology and platform for communal value - there seems to be a large percentage of what one might call "hyperventilating" in terms of content - that is, one has to scan to find carefully considered and well constructed posts - and to that end, regardless of subject, quality is not subjective imho ;)

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70
  ·  last month

I am still part of the "we need to produce quality content" camp, but I do agree with @schattenjaeger that quality is highly subjective. News items, funny content, and other "easy to produce" posts can still add a lot of value to the platform. I think looking at it from the perspective of what is going to attract users to the site and keep them actively engaged should really be the goal. Whatever it is that makes that happen is good.

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66
  ·  last month

Your perception of quality is subjective. Not quality. Either realistically assessed quality will bring value to the steem ecosystem, or if a subjective perception of quality deters users who disagree with the assessment then we devalue the system from the loss.

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70
  ·  last month

That's fair.

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74
  ·  last month

I partially agree with you. However, more than anything, I think it's important to build autonomous micro communities within steemit. By us constantly defining 'what is good' we will not be adopted by the many diverse micro communities that make social media vibrant and worth exploring.

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76
  ·  last month

Yes, limitations to interaction need to be understood and micro communities are good. Sub tokens or sub pools for different types is an idea too.

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69
  ·  last month

Agree. For that, some construct like private groups or hidden friends is needed.

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60
  ·  last month

"quality of posts matters"
shall be written
in sharpie
across the bow
of the laptop vessel

65
  ·  last month

This was a really interesting read @dantheman. Thanks for writing this. I am personally really enjoying writing, but I have never looked at posts here or on other platforms in the way you described, so this was indeed a new perspective for me.

In addition to getting the long-term value from Steem, we must also not forget that good posts usually increase our following numbers. Once people get several hundred or even thousands of followers, I bet their earnings from each post would increase a lot, and is in my opinion also a nice bonus for future profit.

68
  ·  last month

Brilliant article. This was my reasoning when I joined, it was a great idea that earned my long term commitment. I didn't care that I bought some steem at 4$ or that it took time to get traction. I saw each and every post as a chance to engage people and my constant goal was to get comments and conversation going.

If one day Steem goes to the moon, great! If it goes to the grave, I'd be sad but not for one moment would I feel that my btc or, much more importantly, my time and attention were wasted. Steemit (the people on Steemit) has made a blogger out of me!

This is the start of something amazing, and good things take time

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66
  ·  last month

I love this reply. I have ridiculously fallen into the defeatist attitude that gets spread around sometimes, but then I realize that it is indeed ridiculous (with some chagrin). What it stems from is the new instant gratification disease that is running rampant. I use the term disease as dis-ease. Mostly here it's because people tend to compare themselves to the bloggers making what appears to be large payoff on a daily basis. There are all kinds of arguments about the quality of the content and whether or not it is deserving. Opinions are subjective so ultimately it's an argument that can't be won. That's what I've come to.
The way I feel? Do what you love for the love of it. If money comes great, if not, can you call doing what you love a waste of time? I sure can't. And when you add to it meeting all kinds of amazing people, (like you @prufarchy ;) it's really an incredible place. A brilliant idea that I have faith in.

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68
  ·  last month

Thanks @dreemit :) imagine what it was like in July haha, people regularly had these crazy payouts, it was amazing and confusing and intimidating. Just gotta stay the course and, like you said, do it cause you love to.

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69
  ·  last month

Moon or doom, I don't care. I met many wonderful people here and have a great time. But let's be honest to ourselves, there is only one way for STEEM. Moon!

64
  ·  last month

Wow, this is awesome. I saw it in my feed and was like this, this right here is why I want to be a part of this great community and help boost the numbers in users, as well as the ranks in Quality, thank you for giving us encouragement, insight, and knowledge.

You are a good leader my friend, Keep Steeming on!

~ @Timbo

68
  ·  last month

That's a very interesting post, I hope the majority of users will find it!
In my opinion a blogger has to act if he was building up a brand - from the very beginning. "Who am I and who do I wanna be?" It's like in every customer-driven market segment: you give promises you'll have to fulfill. Quality promises, aligned with your brand values, and loyalty promises alined with your positioning inside the respective community. You have to perfectly come to know your target group to then produce your content according to your own brand values and their expectations.
steemit works like every other start up business model - you need patience and consistency to succeed in the long term.
I am convinced that the ones who are here and keep working hard on their aims will not regret.

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66
  ·  last month

You're one of my favourite authors and commenters here! And I think that is to do with the clear brand you are building. With every post and comment I feel like I know you better.

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68
  ·  last month

Oh wow - thank you so much for your kind words @beanz, I feel very honored!!! :)

61
  ·  last month

This is probably the most well reasoned explanation I've come across for why people should take a long-term view to their involvement with Steemit. Every quality post we write adds value to the platform and helps with the compounding effect. My overall attitude is that we should write to write well, not to make money. Focus on quality content, and money will come as a natural consequence, as long as you don't make it a primary focus. And let's not forget that the journey is its own reward! I was lured into Steemit by tales of $1000+ post payouts, but I stayed for the community and the sheer joy of writing. It's been a great adventure so far, and I'm looking forward to seeing where we go from here!

60
  ·  last month

Dan, I did not realize this was an avenue for writers to generate income. I feel really humbled right now by the welcoming love of the community given my post have been using the site more as a social media platform where the value was based on friendship and a community idea of sharing thoughts and theories to bring about a mixture of cultures ideas and opinions. In my haste and excitement I jumped straight in and did not realize I am a doggy paddler among Olympic swimmers! I write as an escape from the psychosis that comes with my illness but in no way have I pursued it more than an escape from my own mind for a brief second when psychosis seems to be ticking by slower than the longest second. I want to thank everyone who has welcomed me with open arms. And to say that as a community as a whole Steem It is good people! Means they are friends or would offer a stranger the shirt off their back if needed. Bless you guys for being a kind community!!!

67
  ·  last month

This is exactly why, in spite of very low payouts for work I spent a lot of time on, I am still committed to producing as much content as I can for Steemit.

While the price of STEEM is so heavily undervalued, I aim to acquire as much of it as I can. When looking at my profile, I pay no attention to the dollar value of my account. If I did, I would probably have given up by now.

I focus only on the amount STEEM that I have acquired and what I believe the potential value of it will be in the future. Approaching things from this perspective keeps me motivated and eager to produce as much great content as I possibly can before the price shoots up again.

58
  ·  last month

An enjoyable (and thought provoking read) which for myself was quite "timely". Only being on the platform since November 2016, it took quite sometime to begin to "figure things out". (Not that I've figured out allot, but enough to get my 'sea legs on'.)

Having run an agrarian blog, back in the beginning days of "Blogger" (not for profit) I can recognize the "Curve". Re-reading some of my old content, and directional focus, started me thinking this weekend. Getting organized, for my account @loosechange (a project that I've developed within my primary account) I began asking myself questions - Such as "what do I want to say here"? What is my goal & focus for this account? Who do I want (or who will) my readers be? How can I best serve them, and maintain interest in my readers. Good beginnings. So I began to diagram (pencil & paper) before I take things to my electronic note pad. Thank you for the informative post. It's a great "touchstone" of ideas.

69
  ·  last month

You have a point! In comparision, other blockchains out there are doing good based on their future use and the value of their coins, but they do not have anything to involve the user as steemit does. As an example, Ether did well because most were excited about the potential of a smart contract and the coin prospered.

But here on steemit I can see the interactivity and engagement it has the potential to bring, which should be the singular reason for valuation to rise in the future.

We have the potential to grow but we also must pause and figure out why present statistics paint a dismal picture as to user on-boarding and retention.

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58
  ·  last month

We have the potential to grow but we also must pause and figure out why present statistics paint a dismal picture as to user on-boarding and retention.

I am going to offer up a few ideas of why this is happening. Some may disagree with me and some may not.

First off, take a look at the top comments and its discussion (when left on trending), you will notice that it is the same topic that has been discussed to death since the very begininng. The topic of "quality" and what each person perceives as "worthy." This topic has been beat to freaking death, is annoying as hell, and only promotes an enviroment of elitism that the majority of "social media" users won't enjoy being a part of.

Let's be honest, there are some brillant minded people who are part of Steemit that can post some high quality valued posts. But do some of these topics and posts even appeal to a mass market? I argue that no, the majority do not.

If you do a little research and exploring of topic content and trending content around the web you will notice that most of it is not what some of you around here think is worthy of a payout or is high quality, but the majority do. And that is why those people are generating large amounts of revenue on other platforms - looking at youtube, twitch etc. Platforms like Facebook or instagram are generally just used as a sales funnel to their main source.

With that said, what exactly is Steemit trying to be? When I started watching Steemit last May and joining a little later it was being promoted as a "social media" platform and the next Facebook where you actually got paid to have fun and post.

However, in reality it has turned into more of a small amount of people who think their shit is the best since sliced bread and only certain posts that meet "their" criteria are deserving of a reward, yet this is their main platform?

The above statement leads me into reason number #2.

I would argue the main selling point of Steemit is the ability to generate revenue. However, an established person with a following elsewhere has zero reason to utilize Steemit as it is right now. It is not going to increase its following or revenue here and could be perceived as a risk to their reputation due to the unknown of where this thing is headed.

Why would "they" spend their time here if the ROI is near zero?

The only logical explanation to tha question is they won't and only the unestablished person is on Steemit with no following or revenue generating ventures elsewhere currently. Steemit will be just a stepping stone most likely for them until they find where the real oppurtunites are.

Reason #3

Steemit and the blockchain are suppose to be open and free of censorship correct? If you look at how the voting system works on Steemit you can see how it is a form of censorship. Certain people and votes dictate what content is seen, the rest quickly disappates into the enternal void of shit with no hope of revivial.

Does it have to stay this way? No, but it is the current state in my opinion.

So that leads me to this part being mostly directed to @dantheman.

A short list of improvements I believe would serve Steemit in growth.

  • Define what Steemit is suppose to be a little better. Are you ok with a smaller more elitist crowd or do you want this thing to blow up to the mass market?

  • Create a way for older, over looked, unseen content to be more findable and searchable.

  • Allow users more options on their main blog page allowing them to express who and what they are all about.

  • Figure out a way to make it worth while to even comment and be part of discussions. A perfect example is this post I am writing right now is not worth the time to create, but I am doing it anyway in future hope.

  • You will have to figure out a way for Steem to have more value to compete with bitcoin.

There are many more I could list, but I have already went a little off track from the original post.

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69
  ·  last month

You have articulated your observations very well and I hope everyone reads it. All this talk about a bullish future is exciting, but we have to acknowledge that the points you have noted above are important, and calls for serious introspection as we seem to have got stuck in a slush where this "elite" is hammering home a reality, which is reflected by the lack of retention, and the huge learning curve hampering new joins.

But thank you for this detailed comment which, I personally feel, makes a lot of sense and should be considered by all who have a wish to see this platform succeed and flourish!

74
  ·  last month

Enlight1.jpg

65
  ·  last month

Yeah, this is true. But let's also boost the value of writings by enabling communities in Steem. We shouldn't be only a publishing platform, we can be also a real social network. That will make our efforts even more valuable.

Here is my latest take on this topic: Feature I'd like to see in the roadmap: Steemroom (group functionality in the blockchain)

65
  ·  last month

This was actually quite thought provoking. never really looked at it thay way. Steem has a bright future imo so i think holding onto steem will be in everyones best interest

65
  ·  last month

Interesting perspective on the collective efforts of the community rather than as individuals. I agree and glad to hear you voice your thoughts on the both the economics and development.

I mentioned this on the proposal post that even commenting is an opportunity to share valuable information and content. We need to see the value in a platform that can be free from censorship and not fill it with content we don't value. Otherwise we'll have a platform filled with low valued content.

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58
  ·  last month

Who cares if what "you" percieve is low value content is on the platform. Simple fun posts are what will drive growth in a mass media sense not some 3k post on quantum mechanics.

Your whole thought process right there is what will make this platform fail and be the "myspace" of this kind of platform.

If you don't allow the mass majority in their is no long term value here.

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65
  ·  last month

Then what is the point of putting out useless information? Just to have bots upvote it? If you think the "mass majority" is choosing simple fun post to drive growth then you will see it turn out like myspace, and facebook and all the other social media platforms, censored, plagarism, spam, and fake news.

And obviously you cared enough to reply back to my comment so thank you :)

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58
  ·  last month

What might be "useless" to you may have value for someone else. I don't Steemit will grow at all with an elitist attitude.

By deterring people to post any content they want is a form of censorship in my opinion.

If Steemit is to turn out to be something, it needs to grab the attention of the mass majority other wise it will just wither and die a slow painful death.

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65
  ·  last month

Bot's don't see in terms of value or useless. They just vote without seeing either.

66
  ·  last month

I always considered my SP to be the same as Shares in a company. The more shares/SP the more your vote counts. Same in corporate world.

But when you said "fewer people will discover your old content."
many of us wish our old posts could still be relevant on the platform. After the voting period runs out and then the ability to comment on old posts closes it really hinders their future relevance.

I wanted to go back and leave in the comments section a post from September, a link so people who find can easily be guided to my update post. But i was unable. ><

I do like how everything is coming together here.

Keep Up the Good Work.

71
  ·  last month

So...when will steemit.com put ads in order to buy STEEM with Google's money? ;-)

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57
  ·  last month

Never.

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71
  ·  last month

I wouldn't be so sure. When a website has a million user per day on it, one would be insane not to put ads especially if it contributes to raise the price of steem or pay for the development of a platform.

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57
  ·  last month

Well, oh. Maybe it'll happen. I know very little of how the ads business works, but we'll see, then!

66
  ·  last month

If I could agree more on what you wrote I would, so there's a 100% of my upvote for you and and satellitico-electro-magnetic two thumbs up for this post that gives a perspective many have forgotten to take in consideration. thanks a bunch for your quality post once again. All for one and one for all! Namaste :)

49
  ·  last month

"You see, the value of your effort today is highly connected to your future effort and it relies heavily on compounding effects. If you stop producing content then your audience will dry up and fewer people will discover your old content."

What about the issue with leverage decay? It's an issue in volatile markets that also have inflation. Even continuing to produce content might not allow you to realize future gains if the decay outpaces the growth of the blog.

67
  ·  last month

I read quite a lot of Steve post back a couple years. He's an interesting blogger.

I love your post. I think it help a lot of people get something they might have not think about on their own. I love how you've put it and coming from you it give a lot of weight to it.

I've spend more than 2 dozens hours on more than one post for the reason you've mentioned.

59
  ·  last month

you diversify your risk at the expense of a lower maximum return on investment

And you also have lower barrier to entry to the blog market, especially for team blogging.
You have a share in a self-healing, self-organizing blog with multiple authors (with all of the advantages of it) at the expense of the ability to choose your teammates.

64
  ·  last month

Very interesting post@dantheman.good work.upvote.you are hungry please visit my actually post :-) :-) Best regards

64
  ·  last month

Very useful post. This kind of reminds every starter blogger like me to keep posting although get very little upvotes. Well, working on quality content, I think as long as it is informative and useful for other it is qualified but then it depends it's useful for who and who wants to upvote them. I see what makes Steemit different is we can support each other and it is seriously like having online family :)

68
  ·  last month

Great post @dantheman. I think it highlights an opportunity for Steemit.
In the example, the blog author, Steve Pavilina, would write content which was available over a long period of time. His COLLECTIVE work is what drove value. In addition to his recent work, people's attention would also be paid to older posts, not just what was produced in the past 24 hours. He benefited by this.

I would like Steemit to do something similar. Make our older posts, perhaps ones we choose, to be part of a profile page that new readers could peruse and appreciate (even upvote). Something easy and visually appealing (marketing is important for any brand). This addition would help Steemit support a collective body of work by bloggers, instead of what sometimes seems to be a 24-hr treadmill. Steemit bloggers should be supported in gaining long-term benefits from the quality posts they write.

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63
  ·  last month

Yes, great post by Dan. One of the points he made is that the blogger already benefits from his body of work without having to directly monetize older posts in perpetuity.

Having said that, I agree 100% that in order to realize the full benefit of prior work, there should be a true blog page for each user consisting of whatever posts they choose to include. There should also be other customizability for this blog page including layout, background, etc.

This is (perhaps along with the ability to follow tags) one of the most glaring omissions in the UI and probably among the greatest sources of frustration and consternation for users...which I think has had a substantial impact on satisfaction and ultimately retention. I really hope these features will be added soon. I can't imagine any reason not to do so immediately.

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66
  ·  last month

Have to agree with you and I try to not let UI issues bother me too much with steemit. I have seen a ton of other sites built on using this blockchain already and know eventually we will have the ultimate UI or many to choose from based on what content we are into or experience we desire.

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66
  ·  last month

Have you had a chance to read the 2017 road map? I think some of this was addressed. How real do you see the possibility of a group building a better UI than steemit.com for steemit?

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46
  ·  last month

Great idea

65
  ·  last month

Good description for a larger audience. Being the larger majority generally does not have a entrepreneurial viewpoint, the above outlook is often missed. In the end, this is a business that we are all minority partners in. My equity is my steempower. Here's hoping we build a steemit monster!

72
  ·  last month

Great piece Dan! I hadn't really looked at Steemit the way you are describing it here. Thinking in those terms it is very encouraging and exciting at the same time! Looking forward to realizing some of these things in the future! :)

52
  ·  last month

I read you. I am very mad. Not because you say things. There are people who talk about a hardfork. This can not be good for us, No?

66
  ·  last month

My best investment ever steem - I say that without any doubt. This is the first time that a coin creats really wealth even if somebody does not invest direct into steem. For sure if you are a serious blogger you will invest a lot of time- taking pictures, writing story, editing, perhaps bilingual? What me helped a lot that was really to connect with steemians while curating, commenting and upvoting. Be kind and helpful, make your own content, do that consitantly and I guess everybody could have success on steemit. I do my best and invest a lot of time what I do not for money I really love spending time on the platform while getting more and more successful. Hope I could sonebody motivate to get more and more serious into real full time blogging. I try to make at least one piece a day. Constinancy is the key. I wish you much fun and success on steemit.

72
  ·  last month

started my bounce house youtube channel in 2012, knowing very well from my previous experience with youtube that all I need to do is upload videos consistently for at least 2 years to earn good money, took 3 years to reach $1000 per month, and it kept going up from that point till now.

I am now applying this same method to cryptocurrency trading/investing, started in December 2015 buying my first $100 worth of bitcoin, in 2 more years I will be ..... well too good to imagine :)

63
  ·  last month

Thank you for posting @dantheman. Many times it takes an explanation from another perspective to assist in realizing the bigger picture. Steemit has long term potential and it is really best to look at the individual blogs as long term as well in order to realize/discover its potential.

Appreciate your time in writing this post.

All the best. Cheers.

59
  ·  last month

Ned Stark approves of this post. There is great honour in this writing, and a message that is sure to encourage many a heart.
Upvoted.

67
  ·  last month

The "Valley of Death" illustration was worth the price of an upvote alone! Very good article, too. 😊

49
  ·  last month

I largely agree with this viewpoint. However, I am having a hard time understanding how this equity growth story will remain true as Steem starts to really scale?

For instance, you mention that STEEM worth $100 right now can easily be worth $10k in a few years. 100x viral growth is understandable when coming from the current size. However, once that growth is achieved, it will slow considerably (there are simply not enough humans on earth for companies to maintain 100% growth until the end of time). Once STEEM reaches a more steady, slow growth, I have a hard time seeing how professional content creators who currently draw their salary from years of content will be able to replace it with a STEEM model as it currently stands. Obviously, it isn't really a problem for the foreseeable future, but I am still curious what the plan of attack is at that point.

I could also be missing some basic facts and would be happy to be refuted.

Thanks for the great post!

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73
  ·  last month

All things go through different life cycles. Once Steve had a successful site his efforts mostly went into maintaining it. Once the site is "mature" then people will have to view payouts as "cash", but by the time Steem is mature the market cap may be $100 billion dollars and daily rewards will be $2.7 million dollars. That is a lot of cash to distribute every day.

Those who work today not only profit by rising STEEM prices, but they establish a brand and following which will secure them a larger part of that $2.7 million per day.

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72
  ·  last month

I agree. Now is the time to build your brand and build up your Steem. If you work hard now, you will reap a much larger slice of the pie later, when hopefully that pie is much larger! Now we just gotta build to that $100 billion dollar market cap ;)

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57
  ·  last month

You got me so intrigued right now. Will sleep and blog tomorrow when I wake up.

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58
  ·  last month

Bingo imo

71
  ·  last month

Funny that you mention Steve, I was fortunate enough to meet him personally (be his guide during his visit to Romania, his tango teacher, his partner in hosting and creating an event here and many other things). Steve has a unique style and that's what makes him valuable.

With that being said, I do agree with pretty much everything you said here, with a few caveats:

  • when you talk about "collective blogging" and Steemit being a company rewarding users with shares, please keep in mind the costs associated with managing this company. The current DPOS management of the network is working wonders compared with other similar initiatives, but it can still be improved. Medium and long term, I think this may be our biggest challenge.

  • cashing out early doesn't necessarily mean you're discounting your work. One may implement a financial scheme in which he sets up a certain level of investment at which he feels comfortable and then "scalp" whatever comes over it. If one needs to cash out, let's say, $150 weekly, then he reaches the SP level when a weekly power down will be at least $150 and only takes out $150. Whatever comes over that threshold is investment. My point is there are running costs for every business, there are basic expenses. Steve too had to eat even when he made $4/day. I know that from the source. :)

  • at the current stage, the Steemit blogging company as you name it, is heavily imbalanced, in terms of shares (I know you are keenly aware of that). If all shareholders are aiming for the same goal, namely having $360.000/year in 3 years, instead of $6000/year now, then the platform needs more synergy. I'll say it: it needs more support from the whales. I will shamelessly blow my horn here and name two initiatives aiming at increasing the engagement and long term commitment. One is a 30 days writing challenge, which generated more than 200 articles in the first 10 days, and the other one is a content based game called Pay It Forward, in which literally the winnings of one post are paid forward to one of the commenters. Both initiatives are focusing at generating more quality content, engagement and affinity to the platform in a non-intrusive way and without the element of gambling (as in betting for something). I would be reassured that the vision you outline here is true when I'll see at least some minimal support for such projects. That will tell me (and probably to other people, potential writers here or already veterans) that shareholders are willing to put their money where their words are. Which will create a very relevant potential for more money to eventually come here, where we are all putting our words.

Thanks for creating this great platform and for your efforts. I know it's not easy.

63
  ·  last month

Good Job!!

69
  ·  last month

@dantheman resteemed !

You see, the value of your effort today is highly connected to your future effort and it relies heavily on compounding effects. If you stop producing content then your audience will dry up and fewer people will discover your old content.

I love this part the most. Everything that has achieved success started small and through continuity, persistence and improving - not maintaining but improving its quality - to grow and eventually, be successful.

Think long term - and as what N.Hill titled his book "think and grow rich" :) and I love that thought! Steemit is one of my geeze, like a normal goose - it really started as an egg - that's what I was getting on my first posts but I just thought - this is my chance to be heard, express everything I believe in and get my voice heard so I went on, improve my postings every now and then and that egg finally made a breakthrough. And now it's really growing so - 100k in the future? I'd never say no to that - to the moon!

47
  ·  last month

Very enlightening :) I am new to blogging, I will think about this as well as many of the comments posted.

56
  ·  last month

I have joined Steemit more than a week ago and I read articles to learn more about anything. But this post by @dantheman, I think is very helpful for everybody especially for the newbies like me. Thanks a lot for sharing this.

59
  ·  last month

German reply, English translation below.

Ein sehr nützlicher und lehrreicher Post, lieber @dantheman.

Ich werde deine Tipps und Ratschläge befolgen. Seit 2. Januar 2017 schreibe ich regelmäßig an meinem Blog "Der Reset Button meines Lebens - Genesungstagebuch 2017". Ich werde den Blog regelmäßig fortsetzen. Bisher habe ich fünf Teile veröffentlicht:

Liebe Grüße von Thomas
@germansailor


A very useful and instructive post, dear @dantheman.

I will follow your tips and advice. Since 2th January 2017 I write regularly to my blog "The Reset Button of my life - recovery diary 2017". I will continue the blog on a regular basis. So far I have published five parts:

Best regards from Thomas
@germansailor

73
  ·  last month

this is how i have been marketing steemit to new folks, that it's like they can start their own site/blog without paying that $ upfront for hosting and domain etc and there is already an audience there... great post man!

62
  ·  last month

OPP=Other People's Platforms
This is what Steemit is to me, a solution to the countless wordpress bloggers who gave up after seeing how difficult it is to start and grow a blog. Steemit bypasses the startup requirements for bloggers starting their own site.

The only feature I would like to see in this regard is a better method of cataloging previous blog posts in a way that is easily accessible to readers.

73
  ·  last month

I've been saying this for ages. Don't look at the Steem you are earning now as 15 cents, that is like looking at the bitcoin price in 2009 and calling it worthless. I look at each Steem as worth at least $10 - something which I think is entirely possible in a few years. The main limiting factor is people's own imagination and failure to see what a revolution this is.

60
  ·  last month

Thanks for the updates and reminders! It's interesting watching all the traders transfer steem into bitcoin while I feel it should be the other way around. What do I know, I do make 'em ups, then get lost reading weird new stuff from round Steem City.

Cheers!

64
  ·  last month

I had opened this yesterday and took the time to read i through this morning. I think you have nailed the mindset that people really do need, not only here on Steemit, but when starting any blog.

I had taken the attitude some time ago that the lower price of STEEM right now is an opportunity to grow my position on the site and occasionally I might just get a nice payout on a post but the overall needed to be the long view.

If there was a way to 'pin' posts to the front page of Steemit, this one should be there.

59
  ·  last month

motivation!

60
  ·  last month

Many huge blogs to do with specific issues have been bought by marketers and are merely "ghosted" now; blogs to spread a propaganda message. But if you plan your blog can make a difference, but the KEY is one thing; blog about what u r passionate about. What would you communicate even if no one was listening?

write about what you love and the readers will follow in about 6 years time ;)

65
  ·  last month

Very interesting! Stevepalina's blog very insightful yet it is surprising how much he generated because of the lack of ads flooding his blog.

You are right about people profiting the most from long term. One thing I keep on hearing, which I agree with, is that investor don't really feel embraced by steemit. There needs to be more of an incentive for them to invest.

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73
  ·  last month

He removed most of the ads when money no longer mattered to him as much. He even removed the copyright on his content. What you see today isn't the same site that he used to monetize his blog.

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65
  ·  last month

Wow, I wonder what caused his changed of heart to make his content free to the world. After reading through his how to monetize blog the part that stood out for me was him doing thing "all the way or nothing".

If you do decide to generate income from your blog, then don’t be shy about it. If you’re going to put up ads, then really put up ads.

If you’re going to do this, then fully commit to it. Don’t take a half-assed approach. Either be full-assed or no-assed.

I guess after he started making large amounts of money he just realized that wasn't his main goal in life; Then took the "full assed" approach on de-montizing his blog.

Even though I dislike how money/ads can dominate and possibly ruin something that otherwise would be something amazing, It is stil hard for me to imagine doing such a thing like that at the moment because of my lack of money I own.

46
  ·  last month

Thank you . This is so encouraging and makes so much sense.

56
  ·  last month

Very good article! Thanks to the author. I wish you all to overcome the valley of death. With respect to all of you....