Should I Start a Substack and What to Expect?

Starting a Substack can be a great way to share your ideas and connect with like-minded people. It's a platform that allows you to create a paid newsletter or publication, and it's been gaining popularity lately.

The cost of starting a Substack is relatively low, with a free plan available for those just starting out. You can upgrade to a paid plan as your audience grows.

To get started, you'll need to create a Substack account and set up your publication. This includes choosing a title, writing a compelling description, and setting a price for your content.

Substack takes care of the technical aspects, such as payment processing and email delivery, so you can focus on creating high-quality content.

For another approach, see: Substack Free vs Paid

Starting a Substack can be a great way to build a loyal audience and earn some extra income. You can earn up to $100,000 per year on Substack, as seen in the case of popular writers like Ryan Holiday and James Clear.

On the other hand, building an audience on Substack takes time and effort. It can take several months to a year or more to build a sizable following.

One of the biggest pros of Substack is the flexibility it offers. You can write about anything you want, and publish as often or as little as you like.

Substack owns and controls your relationship with your readers on social networks like Pinterest, Facebook, and Twitter.

The company makes it difficult for you to leave their platform by requiring you to ask your subscribers to re-enter their credit card information if you switch to a different platform like Patreon.

Substack's approach is considered one of the least evil ways a company locks you in, as it still allows subscribers to leave if they want to.

A fresh viewpoint: Substack Company

Substack is a separate entity from your website, which can be a concern. It's a San Francisco-based company backed by venture capitalists, so they could change their terms of service at any time.

You own your relationship with your readers, which means you could easily move to another platform if you don't like their new terms. Substack doesn't allow advertising, so they're not under pressure to police speech.

However, Substack is a company, not a technology, so if you leave them, you'll have to switch to a different platform with its own technology. But you can take your followers with you, you just need to find a new platform.

WordPress, on the other hand, is open internet, meaning you can move to a different host if needed. If your host kicks you off or goes out of business, you can simply move to another WordPress host and everything stays the same.

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Substack's model encourages you to write quality newsletters people would pay for, even if you give them away for free.

You can still earn money even if you don't charge for your newsletters. One of my backers said they wanted to support me financially, so I turned on the funding feature to see how it worked.

Substack takes a percentage of the earnings when authors sell content directly to their readers through the platform. They'll take around 10% of your sales.

You'll also pay an additional credit card fee, which means Substack will get about 13%-15% of your sale. This might sound like a large commission, but it's actually very competitively priced.

In comparison, Amazon takes 30% and Audible takes 70%, so Substack is giving you a much larger percentage of the money than their biggest competitors.

Substack reduces your tech stack by integrating blog, email, funding feature, and podcast hosting into one platform, so you only need to learn how to use Substack for free.

You can start your podcast on Substack for free and then switch to Buzzsprout when you're ready to use some of their more advanced functions, taking your subscribers with you.

Substack has about 80% of what you'll need, which is a significant advantage for beginning authors who don't want a lot of ongoing expenses.

Discover more: How to Use Substack

Companies that allow you to move to a competitor tend to treat you well because they know you can move, and Substack is a platform built on respecting the content creator.

If a podcasting platform offers an RSS 301 redirect, you can switch your Substack subscribers to Buzzsprout or another podcast host without creating friction for your listeners.

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Substack can be compared to other platforms, such as Patreon.

Getting 400 people to sign up on a new account is too much to ask, and some creators are happy with Patreon because it does some things Substack doesn't.

The Christian Publishing Show was recently moved from Patreon to Substack, but the creator plans to keep Novel Marketing on Patreon because they're happy with its features.

Substack is the latest big thing, promising to make it simple for writers to start an email newsletter that makes money from subscriptions.

The company's raised over $80 million in funding, which is a significant amount that suggests they're onto something.

Substack's business model is centered around writers, who are their customers, not the readers. They collect a percentage of subscription revenue (10%) and offer an easy way to publish content.

Substack competes most with Patreon, but there's a key difference: Patreon allows creators to set up multiple payment tiers, while Substack only has monthly or annual options.

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Substack has no canonical URLs and very limited SEO optimization, making it not great for SEO.

If ranking on Google is a key part of your platform-building strategy, Substack may not be the best tool for you.

Substack's SEO limitations are irrelevant if you're writing fiction, telling your story in a serialized way, as you're not trying to get traffic from Google.

Posting to your own blog and Substack simultaneously will result in a duplicate content issue that could hurt the search engine rankings of your primary blog.

You won't rank on Google using Substack as you would if you were posting to your own blog.

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Substack and Patreon are two popular platforms for creators to monetize their content. Substack seems to be a little easier to use, making it a great option for those who want to get started quickly.

Patreon, on the other hand, is still a powerful platform that can host podcasts, although it can be difficult to use. I've personally experienced this, as I had to move my other podcast, The Christian Publishing Show, from Patreon to Substack due to the complexity.

Substack offers a simpler approach to collecting subscription revenue, with a 10% commission for the company. Patreon, however, allows creators to set up multiple payment tiers, a feature that Substack currently lacks.

Getting 400 people to sign up on a new account is a significant task, and I'm happy to stick with Patreon for Novel Marketing. The hassle of switching to a new platform just isn't worth it.

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ConvertKit and Mailchimp are two popular email marketing platforms, but they have some key differences.

Mailchimp has a more generous free plan, allowing for up to 2,000 subscribers, which is a significant advantage for small businesses or bloggers just starting out.

ConvertKit's free plan, on the other hand, has a more limited 100-subscriber cap, making it less suitable for larger audiences.

Mailchimp's interface is more user-friendly and easier to navigate, especially for non-technical users, while ConvertKit's interface is more geared towards experienced marketers and bloggers.

Mailchimp's automation features are more robust, allowing for more complex workflows and conditional logic, giving users more flexibility and control over their email campaigns.

ConvertKit's automation features, while powerful, are more geared towards e-commerce and affiliate marketing, making it a better choice for businesses with a strong focus on these areas.

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Before you launch your Substack, it's essential to have a content calendar in place. A content calendar helps you plan and organize your content, ensuring that you don't sink to the bottom of the Substack pool.

You need a reason to go to Substack, just like you need a connection to a place to make the most of it. Don't just "go to Substack" without preparation, purpose, and a content calendar.

If you're considering starting a Substack, it's worth exploring alternatives to ensure you're making the best decision for your content and audience. Substack's fees and financial flexibility can be a drawback, with limited email customization and minimal design options available.

If you're looking for more flexibility, consider alternatives like Feather, ConvertKit, Mailchimp, Mailerlite, Buttondown, beehiiv, Patreon, WordPress, Ghost, or Medium. These platforms offer a range of features and benefits that may better suit your needs.

Some popular alternatives include Feather, which transforms your Notion workspace into a blogging powerhouse, and ConvertKit, which empowers your creative journey. You can also consider Mailchimp, an all-in-one marketing solution, or Mailerlite, a feature-rich and budget-friendly option.

Additional reading: Newsletter Alternatives to Substack

Before launching a newsletter, you need to have a reason to go to Substack, just like having a connection to a place makes it more enjoyable to visit.

Having a content calendar is essential to avoid sinking to the bottom of the Substack pool.

You can't just "go to Substack" without preparation, purpose, and a content calendar.

If you don't have a reason to go to Substack, you'll struggle to build readership.

Having a content calendar will help you stay organized and create a consistent flow of content.

It's not just about having a reason to go to Substack, but also about having the right mindset and preparation.

You need to be willing to put in the effort to create high-quality content and engage with your audience.

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Substack may not be the only option for creators looking to monetize their content and build a community. In fact, there are several alternatives worth considering.

Substack's fees and financial flexibility can be a drawback for some creators, but other platforms offer more flexibility when it comes to monetizing content. ConvertKit, for example, empowers creators to take control of their content and audience.

Some creators may find Substack's limited email customization and minimal design options to be a limitation, but other platforms offer more flexibility in these areas. Mailchimp, for instance, is an all-in-one marketing solution that provides a range of customization options.

Substack's poor SEO performance can also be a concern for creators who rely on search engine traffic to drive their audience. However, other platforms like WordPress offer more robust SEO features to help creators improve their visibility online.

In addition to these alternatives, creators should also consider the importance of building a community and engaging with their audience. Substack's offerings in this area are limited, but other platforms like Patreon and beehiiv provide more tools and features to help creators build and monetize their audience.

Ultimately, the best platform for a creator will depend on their specific needs and goals. Here are 10 alternatives to Substack worth considering:

Starting a Substack can be a great way to monetize your expertise and build an audience, but it requires a solid marketing and promotion strategy.

You can reach a large audience by leveraging your existing social media presence, as Substack allows you to easily share your content on platforms like Twitter, Facebook, and LinkedIn.

One of the key benefits of Substack is its built-in audience growth tools, which can help you grow your subscriber base.

Substack also offers a free plan, which makes it accessible to creators of all levels, and allows you to keep 100% of your revenue.

A well-crafted pitch is essential to attracting new subscribers and growing your audience, and Substack provides a range of templates and tools to help you create a compelling pitch.

You can also use your existing email list to promote your Substack and attract new subscribers.

By focusing on high-quality content and engaging with your audience, you can build a loyal following and drive long-term success with your Substack.

Take a look at this: Substack Prune Inactive Subscribers

Starting a Substack can take a while to be financially sustainable from subscriptions alone, especially if you don't already have an engaged audience.

The prices are often pretty low, around $7 a month, which is a challenge to convince a thousand people to pay.

You have to build a case for the subscription's value and demonstrate what it will add to the reader's life.

Unless you already have a significantly engaged audience, getting those numbers up to "quit your day job" level is probably going to take a while.

Working at a rate much lower than minimum wage is a common outcome if you're not careful with your pricing strategy.

It's not that easy to convince people to spend money on something, you have to be able to demonstrate its value.