I'm now about to start my third week on Hive and I'm still learning the ropes. The Hive community has been really helpful and made me feel welcomed, which is always nice. As I have said in previous posts, this isn't the easiest platform to understand, and I think I will be saying the same thing for quite awhile yet. I saw a post today from someone who has been a member since January who still considers himself to be a beginner!
A few days ago @achim03 suggested that I look at The Hive Guide. Which I did. I found this video course really helpful. The course gives a good overview of what Hive is and how to get the best out of it. The best tip I got from it was in the 4th Video, in the 2nd module where @jongolson talks about the 5-500-5000 formula. Basically these are goals to help to build your Hive income in 3 simple, although possibly no easy, steps.
Aim for 5 engagements a day using a mixture of posts and comments. The aim is to build community and engage with community. I quite like this goal because it's manageable. A post and 4 comments, or a couple of posts and 3 comments a day is easy to achieve. Actually, I'm already doing more than that a day.
Aim to get 500 followers. I have to admit, this is quite a big goal for someone starting out. I've got the grand total of 12 followers in 2 weeks. So this could be quite a long term aim! However, I have a feeling that growth in followers may increase the more I post, comment and get involved in the community, as long as what I write is useful to other people. But how easy it is to achieve 500 followers, or not, remains to be seen.
The next goal is to reach a Hive Power of 5000. Apparently that gives you dolphin status on Hive. Which means more voting power, more curation rewards, and the more resource credits to do transactions on the blockchain.
Now, if you are new to hive the last step, gaining Hive Power, Resource Credits and Curation Credits probably doesn't mean much to you. I would suggest you take a look at The Hive Guide, where all this is explained.
I want to be upfront and honest with you, there is an affiliate program linked to The Hive Guide which is of course optional. Had I realised this I probably wouldn't have signed up for it, but I'm glad I did because I have a better understanding of how Hive works and have at least some idea of what I should aim for.
So, there you are. That's my explanation of the 5-500-5000 formula. Only time and a bit of work will show whether it works or not. Are you likely to give it a go? Or are you already putting this formula into practice?