Personally, I love it. Each day I haemorrhage vast spoils of time into its creation. But social media may not actually be driving your revenue, and I can tell you in all certainty that it doesn't drive mine. 

Here's one way to look at it: If you are the type of expert whose prosperity depends on spectacular showiness - a magician, a singer, an entertainer or a performer of some variety - then the chances are that social media is a real investment in income; particularly YouTube. Someone may see your stunning video and book you for their event. 

But if you're the dustier, drier kind of expert, including the likes of speakers, authors, trainers, coaches and consultants; of the ilk who create results for others; then the chances are much greater that peer-to-peer recommendations are what actually drive revenue for you. Someone high-level used your services and benefited. They recommend you to someone else who travels in similar circles, who uses you again. And so you grow. And so you should focus on making that happen by design. 

Social media's not bad for brand-building. But for most of us, it probably won't bring in money directly. So long as we know that, we can act with the correct balance. 

Do you know which model works for you? I don't mean which one gets you the most 'likes'. I mean, which one genuinely drives revenue? In a 'likes' obsessed world, it actually becomes difficult to see that popularity may never translate to income, no matter how hard you work at it. 

If you're the second kind of expert, then it may be time to stop haemorrhaging time into these platforms, and become more savvy about driving peer-recommendations on purpose. That could ultimately mean real wealth for you. 

Do you know which way to jump on this issue? If your scenario is the latter, you needn't give up on FaceBook. The long-term branding and front-of-mind qualities can be worthwhile. But you may need to get more serious about the kind of activities that directly drive revenue. They might include writing for the right publications. They might include asking existing clients directly for recommendations. They might include an old-fashioned sales process. 

Focus on the things that genuinely drive revenue, and you could create lasting wealth. 


Douglas Kruger is a leading professional speaker and business author. He helps business and brands to disrupt their industries, position themselves as thought-leaders, and prosper. See him in action, or book him as a motivational speaker for your next event, via