A Comprehensive Guide to Earning $3,000 Monthly Through Writing
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Chapter 1: My Journey to Earning Online
Having been involved in content creation for just over a year, I've begun to see some financial returns. Initially, the idea of generating a full-time income from this venture felt distant—until recently.
After experiencing a viral article on Medium, a successful YouTube video, and my first foray into affiliate marketing, my perspective has shifted dramatically. I took a closer look at the numbers and developed a realistic strategy to reach $3,000 monthly through content creation.
(For those who prefer a visual explanation, please refer to the video, though keep in mind that some calculations are unique to this article.)
Income Stream #1: Medium
Current Performance & Proof of Concept:
For the past two years, I have intermittently written on Medium, but it was only recently that I began to see a significant uptick in my viewership. What led to this change?
Instead of writing on a broad array of topics, I decided to focus on a specific audience—primarily those interested in productivity, technology, and content creation. This targeted approach has made a noticeable difference.
Below is an example of the impact of addressing a specific audience's pain points, particularly for those grappling with procrastination:
Currently, I'm earning about $10–$15 daily from this particular article.
Top 3 Reasons for My Rapid Growth
- Niche Focus: Concentrating on a specific audience has been crucial in boosting my follower count and email subscribers. When readers know what to expect, they are more inclined to stay engaged. Covering unrelated subjects can lead to a disconnected audience.
- The HIVE Formula: I employ the HIVE (Hook, Intro, Value, End Screen) strategy to enhance storytelling in my content. Effective storytelling can significantly elevate the success of articles and videos alike.
- Titles and Thumbnails: While this is often discussed in the context of YouTube, it applies to Medium too. A compelling title and thumbnail can be the deciding factors in whether or not your content gets noticed.
The 80/20 Rule of Content
Similar to various aspects of life, the performance of Medium articles follows the Pareto Principle, often referred to as the 80/20 rule. This suggests that 80% of your income will stem from just 20% of your content.
Let me emphasize this point:
80% OF YOUR INCOME WILL COME FROM 20% OF YOUR CONTENT.
Content creation is inherently a numbers game. As you produce more pieces, they circulate through various platforms, leading to increased engagement.
Future Medium Earning Projections
If I write two articles weekly, I’ll create over 100 pieces of content on Medium. This will be my target output. Given my best article currently generates around $10–$15 daily, and assuming the top 20 articles yield 80% of the total earnings, here’s my projection:
- 20 articles earning $1 daily = $20/day ($600/month)
- 20 articles earning $5 daily = $100/day ($3,000/month)
- 20 articles earning $15 daily = $300/day ($9,000/month)
While these figures may seem ambitious, many top writers on Medium are earning upwards of $25,000 monthly.
Referred Members
As of now, I have 11 individuals who have subscribed to Medium through my links. Medium compensates writers for each referral as follows:
- 10 referrals = $20/month ($240/year)
- 20 referrals = $40/month ($480/year)
- 50 referrals = $100/month ($1,200/year)
- 100 referrals = $200/month ($2,400/year)
My goal is to reach 100 referred members by the end of this year, so consider signing up through one of my articles!
Additional Income Opportunities
(I'll delve deeper into these topics as I gain more experience.)
- YouTube: Transforming blog content into videos
- Personal Website: Repurposing content for broader SEO reach
- Email List: Regular newsletters to directly engage my audience
Thank you for reading! If you found this post helpful, please hit the clap button (up to 50 times). If you’re interested in discussing Medium, YouTube, or content creation further, feel free to reach out via the links below. Have a fantastic day and keep exploring!
About the Author
I'm Jack, a Data Analyst at VMware, a coffee lover, YouTuber, skater, and a lifelong learner.
Where to Connect:
- LinkedIn: Connect with me!
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- Twitter: Follow my journey in Data Science and Crypto
- Medium: Discover more insights!