Advantages Medium Offers To Writers Who Want to Build A Business Online
There’s more to just monthly earnings….
Earning money from writing on Medium is great.
But if you are serious about growing your online business. You need to realize 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.
One of the main benefits of Medium is that it gives you access to a large and engaged audience that is interested in your niche. By publishing high-quality and relevant content on Medium, you can showcase your expertise, demonstrate your value proposition, and establish yourself as a thought leader in your industry.
We have these 5 opportunities.
1. A collection of high-value content
How many Articles have you written so far?
Here’s how to use them to grow a great portfolio online
- Use the most popular content in your 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 a 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
- Reach more people
Maximizing your impact by writing can reach an incredible number of people, far beyond what you can achieve with your time alone.
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. Hone your 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.
Thanks For Reading
