Writing / Money — Can You Have Them Both?
Medium Writers: Your Passive Income Strategy … Isn’t
Passive implies without effort. Oh really?
To begin, I fully acknowledge that recurring revenue from a story you’ve published is passive income. That is, once written and posted you theoretically need invest no more time to watch the dollars roll in.
And yet, I suspect that for more than 90% of writers, their approach to building a passive income stream is anything but passive. The reason is simple. You have to work hard to build a body of quality material and attract followers in number. And you then need to be lucky to have one or more of your stories regularly earn more than a pittance.
Most Writers Attract Little Following
You’ve seen the many well-meant and helpful articles about gaining your first 100 followers, and then on to 1,000 or more. Lots of good ideas, and many paths to success. Reading these articles, I am struck by two things: how few people attract large followings and how much work is involved in the attempt.
Fewer than a tenth of a percent of writers will see material success. Odds of one in a thousand or even one in ten thousand may not seem so bad to you, but it’s worse than that…
