The Realities of Earning Substantial Income on Medium
Written on
Chapter 1: Understanding Medium's Landscape
The truth about generating substantial income on Medium is often more challenging than many anticipate. With an influx of writers on the platform, the question arises: can we all achieve success?
Writers typically aim to achieve several goals: expanding their audience or personal brand, sharing their insights, enhancing their writing skills, and, importantly, earning money through their craft. When it comes to financial aspirations, many dream of making a substantial amount—perhaps a few thousand dollars, akin to what top writers earn. However, it’s crucial to acknowledge that not everyone will reach those heights.
Given that we all contribute a mere $5 monthly, the income distribution is uneven; some will recoup their investment, while others may not.
Who will thrive? Is it predictable?
To some extent, yes.
What It Takes to Succeed
Achieving significant earnings on Medium requires a clear understanding of the necessary components. It’s no walk in the park.
Writing Quality
Your articles must be of high quality and produced consistently. It’s unrealistic to expect to earn $1,000 by churning out low-quality content. Readers must engage with your work to generate revenue. I recommend publishing at least four times per week to maximize your exposure and enhance your chances of receiving a Boost, which can significantly elevate your readership.
Perseverance
Successful writers often share a common trait: an extensive portfolio of articles—often in the hundreds or thousands. They’ve dedicated years to honing their craft. Quick financial success is a rarity. If you abandon your efforts at the first sign of declining statistics, you’re unlikely to succeed. Consistency and perseverance are essential.
Continuous Learning
When an article performs well, reflect on its success. What worked? How can you replicate that with future pieces? Study the strategies of successful peers—what elements can you incorporate into your writing? Growth is a continuous journey, and we all have room to improve.
Actionable Steps for Immediate Progress
Beyond the overarching goals, there are practical steps you can implement right away:
- Craft high-quality articles multiple times each week (consider contributing to publications for broader exposure).
- Engage meaningfully with fellow writers by reading and leaving thoughtful comments.
- Cultivate patience; remember that growth is a gradual process, not an instant achievement.
- Analyze your statistics to discern which articles resonated with readers and why, as well as those that fell short.
Generating significant income will demand both time and hard work—lots of it. A dash of luck wouldn’t hurt either. Ultimately, only about 50% of writers will be deemed above average. The choice of whether to be an above-average or below-average writer rests with you. You have the power to make it happen.
Chapter 2: Insights from Video Resources
Explore the realities of writing on Medium and the challenges faced by writers.
Discover potential earnings for Medium writers in 2024 and what factors influence income.