After this note ran, I received the private message: “Sir, Why did you put a paywall on Tekedia.com your blog?”
My response:
“To get people to commit to read great insights, the human psychology has demonstrated that paid content is typically appreciated more than free one. To help my readers invest the time to read the most exclusive contents, I pushed them to spend that $20 per year. My blog has no traffic tracker as no one cares about traffic. Though we can make it free, my understanding is that few will value it if it is free.”.
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People, this is not a business but it does not matter. It is a hobby. But as I explain in my workshops, and coaching sessions across Africa and beyond, the greatest enabler to wealth creation is business model. You need to find ways to monetize even your hobby while making those consuming the output better. As I explained in the Inversibility Construct and the Law of Diminishing Abundance of Internet, there are many things you can do online to thrive.
For the Inversibility Construct, you need to turn a typical frustration in the meatspace into strength in the digital space. That means, you need to INVERSE the experiences of people, so that what annoys them in the physical becomes strength in the digital space. I provide some examples:
In this videocast, I discuss what I am calling the Law of Diminishing Abundance of Internet. It is a construct that some companies become poorer even when they are growing in numbers of customers reached.That applies to industrial sectors like publishing and telecoms. The lesson here is that risk in any business model must be examined from the lens of this mirage abundance which Internet has provided in some sectors.
Even in that hobby, find a way to help yourself. You have the skills and capabilities – build on them. Anything can be a business – it does not need a business plan before it can be a venture. The key is figuring out how to fix frictions in the markets and be compensated doing so.
LinkedIn Summary of this Piece
Even in a hobby, find a way to help yourself. You have the skills and capabilities – build on them. Anything can be a business – it does not need a business plan before it can be a venture. The key is figuring out how to fix frictions in the markets and be compensated doing so.
As I explained in the Inversibility Construct and the Law of Diminishing Abundance of Internet, there are many things you can do online to thrive. We are in the age of dollarized hobby. And do not make a mistake of thinking a career can only be built by working in an office. If that comes or if that is what you want, fine. But if there is no job, see if what you have can support you.
What is it that you do well? Improve on it and people will pay you for it.
I do not write for money on my blog, Tekedia.com, but a young lady in my office made a case that she could monetize the contents. She did just that and I allowed her to do whatever that pleased her provided the content area has no adverts. She had explained that she was fine with only 1 reader per day than 100 free readers. She added the subscriptions. Her numbers look great.
She took off traffic tracker on the blog, making sure her decisions were not made on traffic. That is our community manager which many relate daily.
Understand one thing: we are in the age of dollarized hobby. Sure – even Nairalized hobby works.
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