Will You Ever Make Money on Steemit?
Many people come on to Steemit with a dream, that dream differs from one user to the other. I began with the goal of creating a following and making a side income. Some join wanting to make tens of thousands of dollars every month and be famous.
The actual question is, will you ever achieve your goal? Is it too late to join and get big? Is it worth my time? These are the questions that run through my mind every day and possibly yours too.
Will You Make Money Eventually?
We all manage to create posts every day and strive to comment and upvote, but when is enough? When will it finally make me money? Like all social media, steemit is the same they all take time; nothing happens overnight.
We all want Steemit to become a side income eventually, or even do it full time. From the past three weeks of posting, I have been able to get one or two posts to make more money than I spent on them.
I have accumulated a total of 300+ fans now; it is a difficult task to earn money within the first month. Everyone needs to understand that, just because your first 100 posts don't go viral does not mean it's impossible.
Making Money on Other Platforms is More Difficult
You can sit in front of your computer and write blogs on WordPress, and hope that people will read your posts. The reality is even after six months of writing every day; you might start making some money to cover your daily coffee.
When you post a blog on other platforms, you have to take into consideration your Google ranking and SEO. On Steemit we have the luxury of just posting and people will see the post, rather than paying for Google ad words and web developing to make the website suitable.
I remember having to pay every month to an SEO firm that promised to get Google first page ranking and paying for Google words; it would cost me over $500 every month for their service. At the end it was not worth the money, I would invest way more money than I would make!
Here on Steemit, we have a huge community that is supportive of one another, and this enables authors to make money even in the first post, even if it's a few cents.
Does Having More Followers Equal More Money?
I have seen may minnows grinding and posting daily, but they won't make serious money. Even users with 1000 followers are not making serious money that can sustain them, it becomes frustrating and dream shattering.
I have come to realize the key to making money is not in quantity and having 50,000 fans, but it is in the quality of those fans. You are better off with a few hundred fans who all upvote and esteem your post than thousands who don't bother reading your articles.
The issue is, almost never will all your fans upvote all of your posts every time. The trick to Steemit is in numbers unless you figure out a way to connect with your fans on a very personal level where they trust you and enjoy your posts.
The key is to create a following that follows you and not just the posts, there will be good days and bad days for posting and your supporters need to be there by your side through the rough times too. Youtubers create vlogging channels to create that connection with their fans; I remember I would watch Youtbers videos because of them and not the videos or the content because I ended up becoming a fan.
How Many Followers Do You Need?
It 's hard to calculate how many members you need to make a passive income, but the essential factor is those fans need to interact and upvote every post.
The authors I see who make a steady income from posting have 5000 or more follers and those who have 10,000 followers make at least $70 per post.
An easy way to estimate how long it would take you to make a passive income is to calculate the rate you gain followers. For example, I gain 100 followers every week, if it stays at the same pace I would have 5200 followers in one year. In general, once you have 1000 followers the rate you gain followers begins to increase and get faster and faster.
If I divide 10,000 followers by 100 I will get an answer of 100 weeks, 100 weeks divided by 52 weeks equals 1.9 years. That is a pretty slow rate, so this is a worst-case scenario to gaining followers. Some authors gain 300-400 followers a week, so it becomes a snowball effect.
What You and I should do
Our only choice is to keep posting good quality content every day and try different methods to gain more followers. You should try Facebook ads like Jerry Banfield has done, although he already has over 2 million followers, so it was an advantage. Although posting everyday good content is just not going to cut it, that has become cliche now! We need to create a community together that supports one another that can grow and become recognized for its hard work and be compensated for that hard work too!
Join my Telegram!
I have created a Telegram group for all my followers! In the group we will cover crypto trading and share news on crypto, I will be advising you on starting up your own business and help all of you get started! You can private message me and talk about future post ideas as well. We can together create a community that supports one another to ensure growth!
Join now its free, and we can all grow together!
If you enjoyed this post, please upvote and fan me and join the Telegram group!