Building A Small Business In The Hive Ecosystem

For Content Creators

Although this is an approach for content creators, it can also work for those offering and providing great curation on the Hive ecosystem. I remember joining Steemit back in 2016 or 2017, I can’t quite remember now but I do remember that I loved the initial concept and idea. Years later and Hive has forked from Steemit, offering even more amazing opportunities, through the wealth of tribes, tokens, and communities that are thriving on the network. With each day that passes, I find myself becoming even more bullish and excited about the future of Hive. I have been spreading the word and writing about Hive quite a bit over the past few months. This is largely due to the fact that I believe that if you are creating content, then you need to be building a presence on Hive.

Foundational Understanding

Understanding how Hive works is actually imperative to grasp this idea. I will however share my simple, yet effective strategy for Hive, taking for granted that you understand the dynamics at play. If you are unaware of the basic workings of Hive, then I suggest reading this post, in order to have a foundational understanding before continuing.

Keep Generating Income

In the world of Crypto, generating income is equally important as generating gains in my opinion. If I have to wait for significant bullish momentum in order to realize some Crypto profits, then I don’t even have a side hustle. Even a side hustle rewards on a daily, weekly, or even monthly basis. Spending months and even years waiting for the next price explosion is one way to dampen your spirits.

However, if you are building and earning in that time, then not only are you encouraged for the road ahead, you are generating income, as well as possibly adding to your stack.

My Main Objectives Achieved

By executing this simple approach, I am able to satisfy my own objectives that I set out to attain through mostly multiple ideas. Hive has a beautiful way of offering all three in one! These being:

• Acquiring stablecoins to hedge my portfolio.

• Generating income, both passive and hybrid.

• Increasing my holdings to secure future gains.

It is pretty much that simple and can all be done by blogging on Hive.

Securing A Presence

This is by far the most difficult aspect of this strategy because you will have to provide quality content on a consistent basis. There is an unspoken rule on Hive that ensures noobs do their time, proving that their presence adds value to the ecosystem. This is actually what makes Hive work so well. Upvotes have value to the one issuing them and so naturally users seek to only part with an upvote when it is well deserved.

I have been posting quite consistently on Hive and other tribes for well over a year now. I haven’t concerned myself with earnings but have rather sought to produce content consistently.

Stay The Course

Sometimes posts perform really well, it is important though to remain focused when they don’t. I think that the seven-day upvote window can also play a part, as a good post can often slip through the craps, only later to be discovered. This is the “building” part of building a business. Many people seem to forget that aspect. Working towards creating great content and adding value to the entire ecosystem should be your primary goal, at least for a year or two. To be honest, it actually needs to be your primary goal indefinitely.

Powering Up?

Ideally, you want to power up all of your HIVE earnings. You also want to stake your HBD in order to earn 12% APR. This needs to become a habit and should be your secondary goal, after creating and publishing content. I don’t personally advocate buying HIVE with your HBD, as I like to have a stablecoin stash. Furthermore, your HBD should be a long-term hedge and investment. Compounding your returns over time should help to keep up with inflation and monetary expansion.

Time To Shake Things Up

Once you have accumulated a significant amount of HIVE and HBD, you can begin utilizing your account as a business. What is considered significant is unique to each individual and you get to decide where that point is. So let’s recap! You now have your holdings in HBD, which is more of insurance on your “business”. You also have your holdings in HIVE, which is ultimately part of the cash-generating aspect of the business. Now you can begin taking 70% of the one half of your author and curation rewards as income. The remaining 30% can be locked up in order to secure growth in your account/business.

Where To Extract Income

In a bull market, I would suggest taking 70% from your HIVE earnings and staking all your HBD earnings. In a bear market, you do exactly the opposite because your HBD won’t increase in value later, so you realize those gains. Your HIVE on the other hand will, so you power up the HIVE so that later on you can experience an explosion in the value of your account. Plus, you are also growing your upvote, which increases the value of your curation. This is obviously working on the 50/50 allocation setting of HIVE/HBD.

Conclusion

In essence, you are only removing less than 50% of your monthly earnings as income and allowing the remainder to work for you and increase the value and efficiency of your account. This might be helpful for new users to have a starting point, that they can later modify to their own personal needs and preferences. It is important to note that earnings can also be generated in communities, such as Leofinance and others. This has a multiplication effect on what you are accomplishing on Hive. It can also help you reach your own personal point of “significance” prior to actually withdrawing income from your work.

Thanks for reading along. Those who have tailored their own personal strategies are free to share them, strategies are often tweaked and enhanced. So, please share!

Disclaimer

First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.

This article was first published on Sapphire Crypto.