Book of the Week: How to Make Money with Substack by Karen Cherry
Welcome to the second year of Book of the Week, where every Sunday, I recommend a book to support your writing career.
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January 5th, 2025
Hello, Fellow Readers, and Happy Sunday,
I hope you all have a wonderful week!
Book of the Week
Welcome to the second year of Book of the Week, where every Sunday, I recommend a book to support your writing career.
As I embark on my second year on Substack, I aim to give back to the community and grow my newsletter. This brings me to my first recommendation: "How to Make Money with Substack" by Karen Cherry.
I chose Karen's book because I have only one paying subscriber—my mother's friend—and 42 free subscribers. I aim to convert these free subscribers into paid ones and expand my audience. To achieve this, I need a deeper understanding of Substack and the factors that motivate readers to subscribe.
Karen's monetization blueprint has proven extremely helpful. It provides a structured approach to crafting compelling posts that deliver valuable information to subscribers. Although I read this book for free in exchange for a review, I found it so insightful that I wouldn't hesitate to invest my money and time in it. I plan to revisit it throughout the year as I refine my Substack strategy, and I would eagerly purchase an updated edition if she decides to release one in the future.
Having completed my first read of "How to Make Money with Substack," I know it will frequently be a resource I return to. It has equipped me with essential knowledge about Substack's marketing strategies. As a first-year writer on the platform, I'm still learning how to engage effectively with its audience, and this book has provided valuable insights I hadn't encountered before.
One particularly resonating chapter is "Now Go To It!" This section serves as a checklist of actionable items designed to help connect with an audience and grow a publication. The bullet-point outline allows me to reflect on specific skills I can develop, making it easier to prioritize my learning journey. The clarity of this section inspires me to envision potential areas for future growth, especially if Cherry decides to publish a second volume, which I would eagerly buy, given the value of her work.
For anyone considering starting a Substack newsletter, I highly recommend diving into this book alongside your writing journey. Even slow progress is still progress, and Cherry’s guidance can significantly enhance your approach to building a successful newsletter.
In addition to its practical advice, Cherry's book highlights that in 2023, top creators on Substack collectively earned over $25 million, demonstrating the platform's potential for generating income through various monetization strategies such as paid subscriptions and sponsorships. This context reinforces the importance of understanding how to engage with readers and monetize content on Substack effectively.
Overall, "How to Make Money with Substack" is not just a guide; it's an essential tool for writers who want to successfully navigate the complexities of digital publishing.
Happy reading!
Tell me, Reader, what are you reading this week? Have you read How to Make Money with Substack? What did you think? Comment below!
Thank you for sharing this journey with me. Here’s to embracing the unexpected and continuing to grow together.
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It's really good. Not only does Karen go into the money-making angle but she does a short overview of how Substack works, too. I love her approach to writing and teaching about the platform. It's concrete, succinct and hits all the high spots. A good choice, Courtney!