Writers Wanted: Inquire Within
BindleSnitch is a brand new, collectively owned publishing platform operating on a cooperative, profit-sharing business model where 100 percent of the net profits (after overhead and operating costs are deducted) will be distributed to the members of the BindleSnitch community. (Where did the name BindleSnitch come from?)
Why you should be interested in BindleSnitch:
If you are posting stuff on Facebook, Twitter, Instagram, Medium or any other publishing platform, you are doing this for just one reason: you want attention.
That’s not a bad thing. It’s a good thing. We all want and need attention. Without attention, we wither and die. With it, we thrive. Fact of life.
You also want feedback, and that’s not a bad thing either. We all need good, high-quality feedback because that’s how we get better at what we do, but it is very hard to get good feedback. In order for feedback to be valuable, you have to get a lot of feedback from a lot of different, consistent sources, and that’s not easy to do. At BindleSnitch, we are developing mechanisms that will ensure a good volume of high quality feedback.
And, let’s face it: The reason you want attention, the reason you want feedback, is because that’s how you make money on the internet or anywhere else for that matter.
How We Plan to Make Money:
There are basically four ways to make money on the internet: Selling stuff, selling subscriptions (which is another way of selling stuff), begging for donations, or selling advertising (which is really selling stuff AGAIN.)
We don’t want to sell stuff because we don’t really have anything to sell, nor do we want to spend our time making stuff to sell. We can’t sell subscriptions because we’re not The New York Times or The Washington Post and we don’t want to be them either. We don’t want to beg for donations because we’re not a nonprofit corporation, nor do we want to be, and nonprofit corporations aren’t supposed to compete with profit-making corporations anyway.
Obviously, this leaves advertising, which is a very hard way to make money unless you have some tricks up your sleeve.
We have some tricks up our sleeve. One of those tricks is our Adrenovator, a copyrighted plug-in tool that enables us to circumvent advertising blockers. It’s running right now on BindleSnitch, so you can see it yourself. The Adrenovator program is important because it enables us to slip advertising through the ad blockers.
Our second tool is our synergistic network marketing, which is a fancy term for direct mail marketing. That’s how we are going to drive traffic to our site.
The problem facing new websites today:
The big problem for any website that is attempting to gain traction on the internet is the stranglehold that search engines like Google have on the search process. You have to purchase followers, obtain mailing lists, send out bulk emails promoting your articles, buy adwords, seed your articles with keywords, create linkages and jump through a lot of hoops to get noticed by the search engines.
When you are trying to compete against the internet behemoths for attention on the search engines, you have an additional problem: the search engines are heavily weighted toward more established websites. The same exact article will appear on the first page of the search listings if it was originally published on the New York Times, but it will appear on page 10 of the search rankings if it comes from a lesser known publication because two of the elements in the Google algorithm is how many hits the article has received and how many time the article has referenced in other articles.
Our simple solution to this complex problem:
Our plan for generating the traffic required to support BindleSnitch is really quite simple. It’s called synergy. Okay, it’s really network marketing…but it’s not like Amway.
You probably have a personal network that ranges from a few hundred to several thousand people. Your networks consist of the people on your personal email list, your business contacts, and the followers you have accumulated on the social media sites to which you belong.
Our research indicates that the average contributor has a personal network of approximately 500 contacts. Each of those people also has a personal network that averages 500 contacts. This means that you, personally, have an extended network of 25,000 contacts but that network doesn’t do you much good unless you have something to sell them that they want to buy.
Now, let’s assume that 100 people just like you join BindleSnitch and pool their personal networks together. That brings the size of our collective extended network up to approximately 2.5 million people! (The actual number will be lower because some people know some of the same people.)
How the numbers add up to big dollars:
If just one percent of the members of that extended network read one article on BindleSnitch, that article would collect 25,000 hits. If they read one article per DAY, that would generate 750,000 hits per month. While it is impossible to determine exactly how much money those hits are worth, a reasonable estimate would be around $35,000 (per article) x 30 days per month or just over $1 million in revenues. Assuming that operating and overhead costs rise to 50 percent of gross revenues (and we are actually aiming for a much lower number,) those 100 writers would be splitting half a million dollars PER MONTH or $5,250 EACH. That works out to an annual income of $63,000 if each contributor contributes one article a day.
That might sound crazy but the actual numbers are so crazy that we don’t have the nerve to publish them. Remember, we are not limiting ourselves to one hundred contributors, and readers aren’t going to read just one article per day. If you are beginning to get the idea that you are being screwed by Facebook, Twitter, et cetera, well, if the shoe fits…
Why this might just work:
By combining your individual output of articles with the output of the other members of the BindleSnitch community, you cross-pollinate your audience with other writers’ audiences. Your followers see their articles, and their followers see yours, because that’s how we have constructed the BindleSnitch website to work. What this means is that you have a constantly expanding audience of readers. It also means that visitors spend more time on the site and that also increases advertising revenues.
How do we know this is going to work? We don’t, and neither does anyone else, but look at it this way: right now, you are posting your material on websites that are paying you little or nothing for your time and effort. At BindleSnitch, if you put in the time and effort, you at least have a chance at making this kind of money without having to do everything yourself, and you can still post the same material on your social media accounts. In other words, you CAN have your cake and it too.
How BindleSnitch will distribute revenues
As a contributor in good standing contributor in good standing, you will be paid by multiplying the total number of words you have contributed during the previous month by the “word rate” for that month. The word rate is determined by dividing the total net profit for that month by the total number of words published across the entire website during the same month. Audited monthly profit and loss statements itemizing the revenues and expenses will be published on the website each month to verify the word rate.
You will be paid via paper checks as a 1099 independent contractor on a monthly basis, 30 days after the close of the month on the basis of an itemized invoice listing the word counts for the articles and comments published that month.
The rationale for our compensation plan:
At BindleSnitch, we believe that the success of a website is based upon the total amount of traffic generated by the contents. The more original content we publish, the more traffic we will generate. The more traffic we generate, the more advertising revenues we earn.
Writing isn’t and shouldn’t be about competition. Today, in the online world, writers are paid (when they are paid at all) on the basis of how much traffic their articles generate. This is wrong because it ignores the synergy generated by a community of contributors working together. In the old publishing world, staff writers were paid a salary and freelance writers were paid by the word. In other words, they were paid on the basis of the effort they put into their work, not the popularity of their writing. If we only published the work of the most popular writers, we would have a very small publication that wouldn’t earn any money.
Everyone contributes to generating the traffic, so everyone should be compensated on the basis of their efforts, not the results. That’s why we encourage cross-commenting between contributors, and we like to have contributors reviewing and editing each other’s work to improve the overall value of the site for the reader. Members can also flag offensive articles for suspension and vote contributors “off the island” for repeated offenses.
About the structure of our website:
The BindleSnitch home page is organized so that readers can see at a glance the 20 most recently published articles in chronological order. The home page also displays the three most recent articles in each of the 12 topical categories giving your articles more time on the home page. This enables visitors to select articles that interest them without having to wade through articles that don’t. With one click, you can see the most recent articles in each category. With one more click, you can review the archives for the entire category. Another click will list all of your published articles in chronological order.This means that your articles won’t disappear as newer articles displace them on the home page.
How we will compensate early adopters
We believe that in order to succeed in the current business environment on the internet, you absolutely must “bootstrap” your venture in order to avoid being co-opted by venture capitalists and having to kowtow to shareholders. What this means is that there may not be any profits to distribute until the website finds its audience because we are not accepting money from investors to jump-start the project.
Early adopters may go several months or more without seeing any revenues. That’s why we are rewarding the first 98 “early adopters” who reach certain milestones who reach certain milestones with fractional shares of ownership in the company by dividing 48 percent of the ownership of BindleSnitch among those early adopters. We are only extending this offer to the first 98 early adopters because we are organizing BindleSnitch as a Subchapter S corporation which allows us to have up to 100 co-owners of the company. Each of the early adopters will receive a fractional ownership share of one-half of one percent. (Why use a Subchapter S corporation?)
Be advised. The fractional ownership may not be sold to third parties. They may only be sold back to the company on the basis of the audited net worth of the company at the time of the sale. Since our objective is to return as much revenue as possible to our contributors, it is unlikely that shareholders will ever receive any dividends. Remember that Warren Buffett’s company, Berkshire Hathaway, Inc., has never paid a dividend either, even though the price of a single share is currently more than $320,000. Of course, our results will probably differ….but one never knows. People who accepted shares of Google and Facebook in lieu of salaries are now multi-multi-millionaires.
On the other hand, what are you earning now from Facebook, Twitter, Medium, YouTube, Instagram, or any of the other publishing sites you’re on? While some people are making money on those sites, the vast majority of their users are making nothing at all. If you are one of them, congratulations…but are they offering you an opportunity to earn a share of the ownership of the company, as we are doing? More importantly, at BindleSnitch, you can have your cake and eat it too by continuing to publish on those other sites by posting links to the stuff you are putting on BindleSnitch. You can also republish anything you have previously posted elsewhere on BindleSnitch.
How we help you activate your personal network:
The key to activating the extended network is the manner in which you ask the members of your network to help you. That’s right. Just ask for help. Ask the members of your network to share the notices about your recently published stories with their networks. Some will, some won’t. More will than won’t. It’s human nature to want to help out a friend, especially when it isn’t going to cost anything more than a few minutes of their time. We will help you do the asking, with templates for email blasts. You can also sign up for our email blasting service, and we will send out those notices to your network automatically.
Your responsibilities as a member of BindleSnitch:
As a member of BindleSnitch, you will be expected to post links to your articles on your social media accounts. If you don’t do that on a regular basis, this experiment will fail. We are building links that will enable you to do you very easily. You will also be asked to send out emails to your mailing list, with links to your articles on BindleSnitch. In addition, you should spend some time reading and commenting on the articles submitted by other contributors. We expect that you will want to do these things because that’s how we can circumvent Google, beat Facebook at its own game, and make some money. (We will also credit you with the word count on your comments.)
You hold the copyright on all published articles and you are free to republish any article as long as the republished article indicates that it was originally published on BindleSnitch. We encourage simultaneous publication of links to your BindleSnitch articles on social media, and we also post all newly published articles on our own social media accounts. All articles posted on BindleSnitch are permanently archived on the website. They may not be deleted for any reason other than instances of libel or plagiarism.
We do not believe in censorship but we live in the real world and we’re not going to tolerate abusive behavior of any kind. On BindleSnitch, everyone sees everything, and each reader gets to decide which articles to read and which ones to ignore. Articles that violate our community standards can be challenged by registered contributors and, if the challenge is sustained by a majority vote of the community, the article will be removed. Under the three strike rule, anyone who has three articles removed will be suspended for 30 days. Anyone who is suspended three times will be permanently banned from the site, losing all privileges and residuals.
BindleSnitch takes no responsibility for any libel or plagiarism in articles published on our website. The legal responsibility falls upon you as the author. We reserve the right to remove any articles that violates our community standards. If you are quoting from a published article, the name of the publication must be highlighted and you must include a hyperlink to that source to avoid being tagged for plagiarism.
This is a work in progress. Nothing is engraved in stone. We want to hear your opinions. We will listen very carefully because we are in this together. That’s what it’s all about.