Wealth from get-rich-quick schemes quickly disappears, but wealth from hard work grows over time.

I was hanging out with some folks last night and we were talking about business and someone brought up the old proverb above. The idea being that where money and finances are concerned slow and steady will win the race in the end.

BrokeSomeone pointed out that something like 70% of all lottery winners are poorer (i.e. deeper in debt) than before they won their millions in just 5 years.

Poking around this morning I see that figure mentioned a lot but I can’t find the source reference anywhere so I don’t know if that is a real number or was made up by someone. But Google lottery winners broke years and you get the idea that it might not be that far off.

One thing I did learn this morning is that 5% of all lottery players buy half all lottery tickets. And I’m guessing those ticket purchasers aren’t the Bill Gates type either.

Most of the folks who win the lottery don’t understand the principles of how money works. Apparently some of the same skills required to accumulate wealth are necessary to keep it. People who earn their money are much more likely to use it wisely than those who just receive it as a gift.

Parallels in Blogging

It is very possible to build your blog very quickly, especially where solid traffic and links are concerned. It takes a lot of work to make that happen, though.

And there are a lot of folks who don’t want to put any effort in at all but somehow they still expect they should see the same results.

The temptation exists to join some traffic or link exchange program without doing the research to see visitors and links climb early on. That is an approach that can work for you as there are now some decent programs out there.

Unfortunately there are also a bunch of less than valuable programs out there that will cause far more problems for you than they solve.

A Winning Strategy

Personally I’m a fan of slow but steady natural blog growth. Here’s what I mean by that:

  • Consistently write quality posts
  • Read other blogs in your niche (have them in your feed reader)
  • Comment those blogs in a way that adds value to the conversation
  • Link to all the good stuff you find out there (with trackbacks)
  • Be patient

Blogging for your business is a long term strategy to build web traffic, and awareness for the business.

By using a slow but steady approach your blog will be less adversely affected during those times when you can’t give it as much attention as normal.

For example I’ve been completely swamped around here for the last month or so and the blog has suffered some neglect. However, because I’ve built it up using these slow-but-steady techniques, I haven’t seen the dramatic down turns in the numbers that probably would have come with some other, less dependable approaches.

Just like with the story of the tortoise and the hare, or that old proverb, slow and stead wins the business blogging race.


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