What are the tangible signs that it’s the right time to start monetising on Substack, is it based on the number of subscribers, open rates, engagement levels, or something else?
Just start. You can turn it on, then create sales and promotional discounts for your Substack. Just because you turned on Stripe to monetize doesn't mean that you'll get paid subscribers. But you're creating the foundation for one income stream and for your biggest fans to become paid subscribers.
I’ve been doing this for only 1 month, so every day feels this way. Your comment reminds me that I am on the right track. Each day I try to improve at least I thing.
I’m going with a free post one week that introduces a topic then a paid post the following week that goes more deeply into that topic. I hope that will be interesting enough to engage paid readers, but also still provide real value to the free subscribers as well. It needs to be a rhythm that feels sustainable long-term. When I used to write on medium I fell into that cycle of write too much all at once, burn out, take a long break that kills the algorithm, repeat
Because I’m writing a book on the same topic, my biggest challenge so far has been working out where the line is between sharing useful information for free and not giving away everything from the book!
The not wanting to come off as too salesy is my biggest thing to work on. Great mindset to start thinking about inviting”
Yes, that's a good way to frame it. An even more powerful one, IMHO:
There are people out there struggling with problems you've already solved. They're asking questions you've found answers to.
Every day you don't sell is another day you deny them your help.
What are the tangible signs that it’s the right time to start monetising on Substack, is it based on the number of subscribers, open rates, engagement levels, or something else?
Just start. You can turn it on, then create sales and promotional discounts for your Substack. Just because you turned on Stripe to monetize doesn't mean that you'll get paid subscribers. But you're creating the foundation for one income stream and for your biggest fans to become paid subscribers.
Thanks guys, I think I need to go back to basics and create like I’m new to Substack 🧡
I’ve been doing this for only 1 month, so every day feels this way. Your comment reminds me that I am on the right track. Each day I try to improve at least I thing.
I’m going with a free post one week that introduces a topic then a paid post the following week that goes more deeply into that topic. I hope that will be interesting enough to engage paid readers, but also still provide real value to the free subscribers as well. It needs to be a rhythm that feels sustainable long-term. When I used to write on medium I fell into that cycle of write too much all at once, burn out, take a long break that kills the algorithm, repeat
Because I’m writing a book on the same topic, my biggest challenge so far has been working out where the line is between sharing useful information for free and not giving away everything from the book!
Awesome!