Unlocking Financial Success on Medium: A Comprehensive Guide
Written on
Chapter 1: Understanding Medium's Financial Landscape
If you're finding it difficult to earn substantial income on Medium, you're not alone.
Medium is not typically seen as a platform for making a full-time income. This sentiment was echoed by product manager Ariel Meadow Stallings during a recent Boost Nomination Program meeting for editors. If you were hoping to rely solely on Medium for a full-time writing career, it's time for a reality check.
However, it's important to consider that the definition of a "full-time income" can vary widely based on your location. For instance, in the United States, earning $1,000 a month may be viewed as minimal. Conversely, for individuals residing in smaller cities in countries like India, Pakistan, or Bangladesh, this same amount can significantly alter one's quality of life.
While it may not be a full-time income, Medium offers a plethora of benefits, including:
- Exposure to a global audience
- A platform to showcase your portfolio
- Opportunities for sponsorships with brands
- Enhanced visibility for your services and digital products
- A supportive community of readers and fellow writers
Medium can serve as a launchpad for your writing endeavors, allowing you to market your services and lay the groundwork for additional income streams related to writing. Even if you don't achieve full-time financial success on the platform, it remains an exceptional place to begin your writing journey. Since I started on Medium in 2020, my life has transformed remarkably. I have gained clients, sponsorships, speaking engagements, and invitations to awards functions—all because of the articles I've shared on the platform.
In this article, I will outline four crucial steps to help you consistently earn on Medium. These strategies have been instrumental for me over the past four years, and I am confident they can set you on the right path as well.
Step 1: Identify Your Core Concerns
To attract readers, you must focus on addressing their challenges through your writing. My niche is self-improvement, so I strive to produce content that aids my audience in enhancing their lives.
But where do I find engaging topics that resonate with my readers? They often stem from my personal experiences, challenges, and the lessons learned along the way. Every obstacle I encounter presents an opportunity to craft valuable content. I tackle my challenges directly, explore solutions through experimentation, and document my journey. By sharing these insights, I can assist others who may be navigating similar situations.
It's crucial to acknowledge your struggles and remain focused on solutions. Remember, if you are facing a particular issue, chances are many others are too, and you can provide support by sharing your experiences.
When crafting content, avoid vague problems. Be specific. For example, saying "I want to get fit" is too broad. Instead, try, "I want to get fit but struggle to maintain a consistent exercise routine." This level of specificity makes it easier for your audience to relate and find the solutions they seek.
The first video titled "The 4 Pillars Of High Performing Teams" dives into essential elements that foster team effectiveness and how they can be applied to various contexts, including writing.
Step 2: Delve into the Root Causes
Once you’ve pinpointed your problem, it's vital to explore its underlying causes. Ask yourself, "What factors are contributing to my challenges? Why am I feeling stuck?"
This inquiry is crucial for uncovering the true roots of your issues rather than merely addressing surface-level symptoms. For the problem identified in Step 1, potential "whys" could include:
- Fear of taking the initial step.
- Doubts about my ability to stay consistent.
- Concerns about judgment from peers if they discover my gym activities.
Understanding the "why" empowers you to:
- Brainstorm effective solutions.
- Develop actionable strategies to tackle your challenges.
- Monitor your progress.
- Seek assistance when necessary.
And ultimately, work toward resolving the problem.
Step 3: Implement Your Solutions
With the groundwork laid, it's time for execution. This phase is less about writing and more about living.
Some strategies may seem feasible in theory but require adjustments in practice. So, immerse yourself in tackling the problem using your planned strategies. Capture your experiences, embrace both successes and setbacks, and reflect on what is and isn’t working.
This stage serves as a reality check for the effectiveness of your strategies. Stay committed to your journey and continuously learn from your experiences. Flexibility is key; be prepared to adapt your plans based on real-life feedback.
What I Write About on Medium for Consistent Earnings: Final Thoughts
Achieving success as a writer on Medium doesn't hinge on an extensive vocabulary or mastery of complex concepts. It’s about consistently showing up, sharing authentic and valuable stories, and building a rapport with your audience.
I adhere to the four steps outlined in this article for all my Medium pieces, and the response has been overwhelmingly positive. This method allows me to remain true to myself, requires minimal research, and is inherently relatable since it stems from personal experiences.
Feel free to use my approach to shape your own stories on Medium, maximizing the platform to grow as a writer and earn the income you deserve.
Additionally, I will be hosting a FREE webinar on how to begin earning money on Medium on Monday, September 23, at 7:00 PM IST. Secure your spot here.
For those new to Medium, consider enrolling in my flagship course, Project Medium, which has helped over 200 writers globally earn their first $100 on the platform. Get yours today.
If you found this article helpful, you might also enjoy these related pieces:
The second video titled "7 Mental Models To Make $1 Million As A Writer" explores essential thinking frameworks that can lead to substantial financial success in writing.