How to Make Money on Substack. Period.
How to Make Money on Substack. Period.
Substack is supposed to be the land of plenty.
→ So why aren’t more people earning an income?
Why does it feel so hard to get, keep, and grow paid subscribers—even for bestselling Substacks?
How do I make money on Substack?
→ Answer: Go through the 10 steps needed to earn an income on Substack.
It’s unlikely that large numbers of people will pay you long-term for your Substack if you don’t complete all ten steps.
These steps aren’t just theories. They aren’t based solely on my experience. I developed them based on the over 600 clients I’ve helped substantially increase their revenue.
I’m going to take you through each step over the next two months. ✓
The 10 steps are below.
If there are so many people promising “tricks” and Subhacks, why aren’t all Substackers rich?
There are the usual issues: people giving advice based on 1) their experience (an n of 1), what works on other platforms even though Substack is its own world, the misguided idea that anyone can advise about Substack even if they’ve only been on here for a few months and typically less than a year or aren’t even on the platform.
These people are all very well-intended and there’s something to learn from all of them. They bring a fresh perspective that I love. They can help a lot in terms of how to get traction on Notes, write online, see Substack in light of other platforms, and (sometimes) get free subscribers.
→ But getting and keeping paid subscribers is a whole other level.
Tricks, gimmicks, Subhacks, and copying what one person did without knowing yourself won’t do it.
Making Substack a sustainable income stream is a growth process, not a hack
Making Substack an income stream is deep, empowering work. [cue woo-woo music]
It’s about money, yes, but also personal, creative, and professional transformation.
Really, it is. [woo-woo music abruptly ends]
To make money on Substack you need support
You can’t do it alone. Well, maybe one person can but they’re an aberration.
You need a guide and colleagues to give you feedback as you go on this profound journey. [woo-woo music starts but abruptly ends]
The title of this post is a little click-baity (just a little). Maybe this isn’t the only way to make money on Substack.
I want you to go through all ten steps with me and each other and be amazed by the person you meet and the work you produce on the other side.
10 steps to earning money on Substack
($699 value)
STEP 1—Commit to having a paid strategy (without one, you’ll simply flail)
STEP 2—Recognize the 6 roles you play on Substack (you’re not just a “creator”)
STEP 3—Select from or mix Substack’s 3 paid strategies (Substack is so much more than newsletter)
STEP 4—Explore Substack’s other monetization options and etiquette
STEP 5—Understand the 9 things people pay for
STEP 6—Don’t offer more “stuff;” discover the value of your work and your reader instead (to make money on Substack you have to value your reader and your work in equal measure)
STEP 7—Develop a clear and positive money mindset
STEP 8—Master the gentle art of paywalling (it’s an art)
STEP 9—CTAs! (communicate the value you offer to potential subscribers in your calls to action)
STEP 10—Stop begging and don’t be salesy or hold sales
We begin now…
→ Yup, we’re almost at the paywall.
Why is there a paywall? Because what I’m about to take you through is next-level and will pay you back—literally. You will earn the amount of your paid subscription.