Many ask what the key to success on a platform like Hive is? A lot express how they would love the idea to "make their living off Hive". How does one go about this?
There are a lot of articles out there suggesting ways to go about this. They contain nuggets of information that is very valuable. Those suggestions could go a long way to helping one along.
However, there is a something deeper to look at. Like most things in life, it all starts with what happens in between the ears of the individual.
In this article, we will take a look at something that I feel is crucial.
Hive As A Part Time Business
What is your approach to Hive?
This is a question I will guess few took the time to consider. Yet, if we are framing this in the context of success, it is an important question.
I long stated that each Hive account is a business. Through it, one can monetize activities. Hence, we are no longer dealing with simple online engagement. Instead, we have to start applying business principles.
One of the keys is the idea of part time.
This was purposely selected. The best way to start on Hive is to do it part time. Notice I did not state "do it in one's spare time". There is a difference.
With spare time, few have this. We all have different things going on in our lives. Therefore, there is no spare time.
Also, that concept conveys the notion "I will fit it in when I can". This simply will not work if one is looking to truly monetize what is happening. One can show up to Instagram sporadically and it is no loss. Mark Zuckerberg has to take a different approach.
Approaching Hive as a part time business is the same as any other. Another way of positioning it in your mind is Hive as a part time job. More of us are familiar with the requirements of a job as compared to a business, since that is our experience.
What happens if you had a part time job? Would you show up occasionally? Of course not. If you were scheduled for 5 nights, that is exactly when you would show up.
Treating Hive in a similar fashion is the same.
Consistent Activity
This ties into to the fact that consistency is required.
Working a part time job entails showing up consistently. Those who do not tend to lose the job.
Individuals who start a part time business, perhaps working from home, do the same. They put time in daily towards building said business. There are activities which must be done regularly for any enterprise to succeed.
Do we see this with Hive?
Many do not take this approach. Their actions mirror those on traditional social media. There is nothing wrong with this if the goal is simply to be a user engaging for a few minutes here and there.
Hence why the approach is important.
Even in the Web 2.0 world, there are many on social media who operate in a different manner. They post content daily, whether it is videos or blogs. The engagement is undertaken in a manner seeking to grow their userbase. Since they are after monetization, mostly from YouTube, they treat it as such.
Consider those who make their living from content on YouTube. How often do they make videos? From those I follow, it is at least 5 times a week. Some produce videos multiple times per day.
Next, ponder those who are looking to make their living off creating content on YouTube. What is their approach? They do the same. Each day, they are providing more videos, in hopes of growing their subscriber base.
Does this mean they will make it? Most likely not. The numbers that I saw on the percentage of accounts on that platform that are monetized is dreadful. The odds are certainly stacked against someone.
One Hive it is completely different. Consider how an introduction post could result in funds flowing in the wallet a week later. People often make money right off the bat.
Of course, that is where it ends. Since most treat this like any other social media realm, their approach mirrors it.
Ownership Mindset
What is lacking is the ownership mindset.
Over the years I wrote about this being necessary for Hive in general as well as the communities to grow. People need to take ownership of the platform because, if they own coins or tokens, they have a financial stake.
Not surprisingly, this has not occurred. Why would it? If we get honest, few take ownership of their Hive account as a business. If they are not doing it at the personal level, they certainly will not expand that to the application, let alone ecosystem.
Web 3.0 introduces something completely different.
For most, it is passive like most parts of life. Buy Ethereum, as an example, and wait. There is not much one can do. Perhaps there is an application that one can utilize which will have a minor overall impact. If that is tokenized, there might be stake in that endeavor that one can build upon.
However, for the most part, Ethereum is like Home Depot. I can shop there but moving the needle much, on an individual basis, isn't going to happen.
Hive is completely different. Active users can enhance things greatly, especially since the overall activity is low. At the same time, that person can stand out with regards to name recognition over time. To get that on a Web 2.0 platform such as X or YouTube would most likely never happen.
That said, it is not going to happen on Hive if one only shows up occasionally. Out of sight, out of mind is the saying.
If your goal is eventually to make this a primary source of income, it is best to start with the mindset of Hive being a part time business. Schedule time to work on your business as opposed to leaving it to chance.
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Part time I could see but trying to make all your money on hive I think isn't possible unless you have a ton going for you like top 20 witness etc.
Not all. At least not right now. But what if $HIVE stabilized at $5 one day? You'd be sitting on half a million greenbacks. You could use some to curate, maybe exchange some for $HBD. I'd say it would be a pretty sweet extra stream of income :)
It would be sure, but some things here on hive would have to change for us to get to that point. Really you just need more hive and HBD lol
I wish more would understand what Hive can be if they just take it seriously. It is easy to spot those who are building something far more than the average user and that is just through consistency and effort.
I’m slowly building my project #hivesoundlibrary that revolves around sound design and electronic music with a view to educating people on what’s possible. I’m literally trying to get content out daily or maybe every weekday.
I agree with you, in so many ways Hive isn’t a social media platform!
Sweet! checking out now!
I’m considering creating a hive account for it to be honest, might be a good idea.
It's exact the approach I'm taking. The only thing I do different in regards to Hive, is I don't invest fiat in it.
Partly because there's still a small percentage in me telling me: what if it's all too good to be true. Partly because I am kind of hesitant how could I swap the Hive to fiat back and take care of the taxes etc.
Don't get me wrong, I definitely believe in Hive and am here for the long run. Just building it up from scratch, by engaging with others and different games.
Great post!
This is a mind opening, I recently shared a blog post about my plan on building content creation business on Hive and I am now doing my best to take it seriously. What do you think about my plan? I want an honest feedback haha, you can check it when you have time,
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Hello Taskmaster 🥰 It's inspiring to think of Hive as a part-time business. The idea of earning while growing a community really resonates with me. I love how it merges passion with practical benefits. Thanks for the insight and I'm definitely seeing this as a full time work actually
What a great content. I think everyone on HIVE should read this. I totally agree that HIVE must be treated as a part-time job, especially for content creators. The opportunity we have on HIVE is rare. I myself have been trying to get monetized on YouTube, but still, after years I haven't reached the requirements. I was surprised when I saw that I was earning something on HIVE from day 1. So I've decided to focus on this platform even as much as I focus on YouTube...
This is all fantastic perspective. Treat hive with the respect you would show any business you started or worked for. !BBH
As a musician trying to make a living out of my music, discovering Hive has been a breeze of fresh air. Luckily I already had the business mindset in making content, investing time and money, thinking about what I do as a job even if it doesn't pay me out yet.
And seeing how good content is rewarded so much here -- not only monetary but also in engagement and excitement from other users -- is a good boost for the self esteem 😊
Thank you for sharing this new learning of mine. True indeed. 😊
I think Im finally realising that I have to treat this as a job if I want to get to where I want to be.
Time to put my research head on and start interacting with the hive community
I tell people offline how Hive has been my second job which I take serious. It's my business and for me to thrive, I need to show up regularly and make the best out of it. Hive can and will make one succeed if one is sincere about making it a business.
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STOPThank you for those encouraging thoughts. I will love to put your suggestion into work as soon as I take care of some of my impediments. Thank you. @klassicmyk
I think I saw a post before that Hive earnings are higher than the average earnings of content creators in YT. I like how Hive has different communities that offer engagement posts where newer authors can get some upvotes. I do believe that starting an account from 0 makes it difficult to grow, and requires a lot of time and effort.
So basic but so spot on! Plan and schedule a regular thing. It’s so easy yet many don’t follow this. It’s great advice!
I appreciate this write up friend. 'Part time job not spare time'. Hoping to capitalize on this and take full advantage of ownership. Indeed Hive is can be business platform for those with insights.
You are absolutely correct with your notion about not taking Hive blog as a hobby to do when one has a spare time. If one really is going to make this platform a passive income hustle one has to dedicate considerable amount of time to make the earnings come into fruition.
Just like in part-time job, the goal in viewing Hive as a part-time business is for additional income. I agree that consistency and regularity are crucial. However, recognizing it is easy. The challenge is how to put it into practice with the crowded schedule that we have.
Yep. Hive is for everybody, but for the few with ownership mindset; those who were willing to put skin in the game, Hive will provide the juiciest rewards down the line.