5 Advantages Medium Offers Writers Who Want to Build Their Business

These are more valuable than monthly earnings

Earning money from writing on Medium is great.

But it’s not that important.

If you are serious about growing your online business. You need to realise Medium offers far more than a few dollars each month. It provides you with 5 benefits that have huge potential. Sadly most writers miss them.

I’ll admit I got excited when I hit $300/month. But my thinking was too small. Medium offers far more valuable gifts. And it’s learning to maximise these that will give you more in the long run.

Look at these 5 opportunities and think how you could make the most of them.

1. A portfolio of valuable content

I’ve written 90,000 words so far in 2023.

That’s equivalent to 2 books. I own all this content and can do anything with it. Let that sink in for a moment. What could I do with 100 articles of helpful content?

I’ve been thinking about all the possibilities. And here’s what I’ve come up with so far:

• Use the most popular content in my newsletter
• Send an article to someone who asks for advice
• Reuse the content on X to create threads and long posts
• Transform into digital products such as courses or ebooks
• Offer the content as a complement to my coaching service

Use your portfolio as a springboard to reach higher. You are only limited by your imagination.

Having a portfolio gives you endless possibilities.

2. Assets that never stop giving

I love making money while I sleep.

Assets used to be reserved for the rich (property, shares, art, gold). These days anyone can create a digital asset. Each Medium article is already a digital asset. But increases in value if turned into a product.

Assets are superior to providing a service (eg. ghostwriting or coaching) for three reasons:

Create once but earn forever

I published an article on April 1st. It made $0.37 then nothing for 4 months. In September it picked up some traction and made $18. I did nothing in September yet earned money from it. Who knows what it will make over the next 18 months? At no time cost to me.

Creating an asset has a heavy upfront time cost but can keep earning you money for years to come.

They scale at zero cost

In July I made $25 on Medium. In August I made $310. But it took the same work each month.

A ten-fold gain without spending any more time. Only assets offer this potential. Maybe in 12 months, I’ll be making £3000/month for no extra work!

This idea blows my mind.

Reach more people

There is a limit to how many people you can help by relying on your time. If you write to impact lives assets can reach a ridiculous number of people.

For example, 1,000+ people have read this article. It’s almost impossible for me to help that many people if I had to be present for each one.

Assets are a superpower. And it’s never been easier to create them.

3. Deep market knowledge

Every piece of writing gives you valuable data.

• read ratio — indicates the value of the content
• how many clicked — indicates the value of the headline/photo
• comments reveal what was helpful or other problems your readers have

I take this further by responding to comments. I asked what was most useful or what other help was needed. This makes you relatable as a writer and enhances your reputation. But it also gives valuable insights about your audience.

You can use this data to guide your next article, enhance your coaching service, or identify what digital products are needed.

Companies spend a fortune trying to understand their target audience. Medium gives you this valuable information for free. But you need to pay attention to it. If you want to build a creator business this is a goldmine.

Use it don’t waste it.

4. Expanding your thinking skills

Writing is about volume. More is better.

Volume improves your skills and compounds your digital footprint. But the aim is not to produce a masterpiece. Each time you write, your thinking evolves. You return to similar topics. Going deeper with every iteration.

This offers the precious gift of developing your thinking skills. This will help you produce high-quality pieces for books or courses in the future. Your thoughts will become refined and original.

For new writers, it’s all about the packaging. Captivating headlines, neat formatting, compelling words. But long-term it’s those with quality content who rise to the top. Most online content is repetitive and bland. Everyone rehashing each other’s stuff.

Writing on Medium gives you the chance to deepen your thinking.

Those who do this will stand out.

5. Precious writing skills

Relying on the algorithm is dangerous.

It’s easy to get caught up with success on a platform. But at any moment you could lose it all. The algorithm changes and your style of work is no longer favoured. And you are completely powerless to do anything about it.

Or are you?

Growing your email list can protect you. But even more important is developing your writing skills. I think these are set to increase in value. But are seriously underrated by writers.

Skilled writers have improved job prospects. Writers are needed by almost everyone. Youtubers, podcasts, courses, and websites all rely on writers. Learning to write well makes you a clear thinker. As ChatGPT floods the market with bland writing. Those who can connect with human readers become invaluable.

Remember whatever happens to a platform. You take your writing skills with you. So it’s worth upgrading them.

It’s amazing being paid to write on Medium. But long-term these 5 gifts are worth far more. Writers who maximise them will become the most successful.

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