Turning cents into dollars
Let’s review the past few months. I wrote a couple of articles for Medium starting in December of 2019. My earnings reflect that. I made a whopping 12 cents.
I really went all-in on Medium starting in January of 2020 (late January, to be exact). I intended to start on January 1st, but I didn’t get going until January 18th. My earnings still weren’t stellar.
I made 40 cents. Not to be discouraged, I put on a happy face and wrote this article…
I didn’t think about the simple fact that there is a time-delay on your writing. You can put out articles like a mad person for a month and not see the fruit of your labor until the following month. I was also encouraged by another writer who said earnings will triple in the second month (at least, they had for her).
I made myself a spreadsheet that estimated my earning projections for several months. I calculated the monthly earnings based on an average per day. I didn’t know what a good amount should be, so I picked some pretty random numbers:
Month Total Daily
March $75.00 $2.50
April $120.00 $4.00
May $165.00 $5.50
June $210.00 $7.00
July $255.00 $8.50
August $300.00 $10.00
Of course, I don’t want to project out too far. I don’t know what is realistic. This spreadsheet showed improvement over time. That made me feel better.
I recommend projecting your growth over time to keep yourself going. I also keep track of follows and newsletter subscribes. I’ll start also tracking my personal website visitors. I’m trying out a WordPress plugin that looks like it will work.
Thanks to Auriane Alix for his article on how to make a 6-month plan. Just reading the article gave me the inspiration I needed.
I have 49 articles (not including comments) and I have 951,864 words to go. I’m going to write 1 million words. What’s after that? Probably 1 million more, but it will be a cool milestone!
My average article length is 1,002 words.
Enough suspense, already! How much?
As promised, month #2 was much better than month #1. Below is what I received in my email.
Note for email marketing geeks: I was an email marketing geek in a past life. I am keeping track of my open rate and CTR going forward. I know they are heavily skewed in lists under 100. It will be interesting to see how I fair as the list grows. I’ll keep track (for my information and yours). I’ll report the numbers when I hit 100 and 1000.
Back to my earnings goals. I’m already on track to have an average daily earning of at least $2.50 per month. We’re 1/3 through the month. I gotta keep on the pressure! I have a small reward for myself if I meet my earnings goal for each month.
Those monthly rewards will start in month 3 if I keep it up. I’m looking forward to getting a comfy office chair first. Please, God. My butt hurts!
What happens if I don’t reach a monthly goal?
I’m still learning what works and what doesn’t when it comes to my writing. Each month, I will watch my progression. So far, so good. That is encouraging.
I could actually do this thing.
Many writers report making income from several different sources. That’s the holy grail. Medium should just be one part of monthly earnings. Other avenues for earning include:
- Self-published books
- Speaking engagements
- Freelance clients
- Online courses
- Website Advertising
- Amazon Affiliates
If I have a month that is under-performing, I’ll look at starting one of these. I already have these things in the back of my mind. How can I use my writing to pivot into one of these?
A lot can happen if we continue to get better at writing. Eventually, other revenue sources will be revealed.
Society rewards the best at anything.
The power of the unpaid intern
The unpaid intern has more power than the regular wage worker. He or she knows that working is an investment. Right now, there is little pay. Later on, the rewards will be substantial. A company recognizes the work put in by the unpaid intern. He or she cares so much about the company that they are willing to work for free.
Of course, they wouldn’t be at the job unless they were getting something out of it. That thing is experience. The unpaid intern is learning the correct way to do things. They are mastering their current domain.
Plus, they aren’t getting paid. Learning to survive on very little cannot be ignored. If you are used to living on nothing, then something seems like an overabundance. I recommend planning what to do with that money before it arrives. It will give you the strength to continue as well as prevent overspending. You don’t go grocery shopping when you’re hungry. You don’t spend money without knowing what you want.
Rock bottom is the bedrock from which every good thing was ever built.Toni Sorenson
I know I didn’t make a lot last month, but it was more than the month before. That was more than the month before that.
I have more followers than last month. That was more than the month before that.
As we go forward, I will share my current earnings, and my strategies to earn more. Join this young (Cough! Cough!) writer on his journey!