It's Stressful Building an Online Biz
Especially During THESE Times
I must admit that I planned on writing about something else and then Monday happened. Stock markets around the world tanked and I’m sure that many people were thinking WTF. As for me, I’m a digital entrepreneur and when the economy is making wild swings and everything feels uncertain-I question my life choices because that’s a normal response to these times.
At the heart of Creators Getting Paid is sharing monetization tips, marketing ideas and most importantly community. A very important part of the monetization conversation should also include-what about when the economy is uncertain? What should entrepreneurs do then?
April Events and Workshops
I’m in the process of scheduling the dates and will have that ready for you later this week.
This Thursday, April 10th, 2025 “Shh, We’re Talking” Livestream with Angela Hollowell of Please Hustle Responsibly and Melanin MVP and special guest Sasha Willis co-owner of WOC Podcasters and creator of the Podcaster’s Digest. We’re sharing our experience attending Podcast Movement Evolutions 2025 last week in Chicago. We’ll also discuss podcasting events in general.
Co-working Days-I’m scheduling 2 for the month of April (for paying subscribers)
Paying subscriber Monetization Hot Seat-Let me know if you would like to be the first person in the hot seat. We’ll do this “live”
How to Work With Brands Workshop-(this is part of the paid subscriber tier)
How to Get Sponsors Workshop-This will be a Paid Workshop
When: Sunday, April 27 at 4:00 pm MTN/6:00 pm EST
Cost: $47 (replay will be available for 1 month)
Reserve your seat here
MAY-I’m putting together a Podcast Earnings Challenge! And there will be a prize for the winner
Affiliate Disclosure
“In order for me to support this newsletter, I may receive monetary compensation or other types of remuneration for my endorsement, recommendation, testimonial and/or link to any products or services from this blog. Please note: As an Amazon Associate I may earn income from qualifying purchases that you may make if you interact with an Amazon Affiliate link associated with Creators Getting Paid”
Are Black Substackers Getting Paid the Same as Others?
Listen to the Podcast Episode
What Entrepreneurs Should Consider
I’m not a millennial-I’m GenX which means I’m just old enough to have gone through things and just young enough to think “Oh, sh$t” when the economy does things. Especially, when many of these current changes are related to government policy. Here are some things that I do so that I can stay the course as I work towards increasing financial independence.
Strategies
This is not financial advice, I’m sharing some of what I think about related to my business and personal finances and the types of adjustments that I’m making so that I’m ok financially.
Reevaluating my finances-How are things looking? Has income creep started to happen? Am I subscribed to products that I’m not using? (Both personally and for my business)
Asking myself which revenue stream earns the most money-Are you focused on the right things (for right now)? Sometimes it’s easy to double-down on something that you feel excited about but isn’t making you money right now. What I’m doing:
Doubling down on the income stream that makes the most money right now.
Still staying focused on what lights me up but I may ease up on the amount of time that I work on what isn’t earning right now.
Adding an “Ask”-Think of this as a pitch. How are people supposed to purchase things from you if you’re not making it clear that you have products/goods/services that you’re selling? I’m auditing my profiles, websites, etc. and making sure that I add these “Calls to Do Business” everywhere.
Sharing in your email signature
On your website
In your newsletter
Increasing My Income-It goes without saying that growing your income is always a great idea-especially during increasing economic uncertainty. Don’t be embarrassed by any of the ways you decide to earn income during this unprecedented moment. NON-NEGOTIABLE. Ego be damned.
Increasing My Savings-Right now I’m feeling like I need to save more. I always trust my feelings. I tend to work more from mid-Spring though November (I typically don’t take it easy during the summer) I plan on continuing to use this approach this year.
Simplify your expenses-Pay off debts methodically, purchase annual payments for must have items (you’ll usually get a discount when you do that) and pay ahead the services/etc. that will allow you to do so.
Plan for your treats-When times are tough it can feel even worse when you have to stress over beloved treat. Especially when you’re growing a business. I’m doing the following:
Buying gift cards-For myself (check if they charge you even if you don’t use the card)
Annual purchases vs. monthly.
Build in free treats-Free days at the museum, zoo, etc.
These strategies require me to focus more. Something that can be challenging as a multi-passionate online entrepreneur and creative. I’m most concerned about November-February which have been my lowest earning months of the year. I typically take a break during those months. This year I won’t be doing that.
How I’m Making Money
With all of the craziness going on, I’m really focusing on building predictable recurring revenue. The holy grail of digital entrepreneurship. It’s also the most difficult part of building a sustainable online brand. Predictable, recurring revenue has been my #1 focus for awhile now and I thought you find it interesting to see how each income stream is paid out. I’m only mentioning income streams that I have some control over. Applying for grants and scholarships are a part of my monetization focus, but it’s very unpredictable. I’m sharing this because I don’t want digital creatives/entrepreneurs struggling in 2026.
Consulting
I actually enjoy working on consulting projects because they pay well, grow my brand and I can position myself as an expert in my space. In 2024 I spent 6 months working as a curriculum consultant for an organization developing a digital experience for an in-person program. They were looking to serve more people across the United States with that project-not just the people who were in their state. It was a phenomenal experience and the team leads and I are still friends. By the way, I met them at a retreat here in Colorado.
Monthly Invoices-Net 15
Project Development
Right now I’m working with a non-profit on developing, recording and marketing a podcast for their organization. It has been a wonderful project to work on and a great way to share my expertise.
Monthly Invoices-Paid Upon Receipt
Ebook Sales
I LOVE selling ebooks, especially my romances. Weird thing about romance is that they sell more during tough economic times. I started working on romances again in March but I was gone for 2 weeks in April so my progress has been slow. I’m not too worried about this because I know that the sales will go up.
Net 60-However, because I’ve been selling on the Amazon platform for many years, I get payouts on the 29th of every month except for February.
Newsletter Earnings
I earn money in a number of different ways with the Creators Getting Paid newsletter. However, for this newsletter I’m referencing the paid subscriber tier only.
Changing to End of Month payouts-Right now I receive payments all the time.
Fun Side-Hustle
I’ve worked this fun side-hustle for years and I love it for the following reasons. It’s easy. The event company shares that an event is coming up and the type of staffing that they’re looking for-we let them know if we’re available. That’s it. It pays between $22-$24 an hour. Typically, I like to work conferences and unique events. I do a lot of networking for Creators Getting Paid at the conferences and that’s also how I ended up with a monthly radio show here in Colorado. I met someone randomly while working a random fun side-hustle.
Weekly paydays (Fridays)
Pay Attention to the Tea Leaves
Sometimes you’re missing important pieces of information that will help you better monetize your work.
Data that is confirming a trend that you’ve noticed.
For example: I run a website about Colorado and I’ve noticed that more Black people are expressing an interest in visiting and moving to the state. I have tons of articles that I’ve previously published address this audience’s curiosity/needs. I’ve also noticed other folks mentioning that they’re moving and visiting Denver/Colorado-this tells me that they’ll be needing tips and other helpful resources to help them have a good experience in Colorado.
Affiliates
Viator-this is a tour company experience
Stay 22-Hotel reservations
Trends that are shifting-If you’re hosting a live experience, are in the U.S. tourism space…you’re freaking out right now. Why? People may be feeling like there are other places that are a safer option. Maybe you’re in the U.S. and you’re noticing that your community members are expressing that they don’t want to go to a specific state. This feedback will help you to better evaluate what moves you make next. Yesterday I noticed a Thread from a Black woman who hosts in-person events but her audience (Black women) were indicating that they were more inclined to attend an event next year. Some commenters said that they were concerned about the economy and also they wanted more time to save up to make the purchase. There are a couple of things that I got out of that specific exchange:
Is this a pricing conversation? Is there a different type of in-person event that could be held at a lower price?
Payment plans definitely should be a part of the pricing model
Tiered Pricing-Are you offering products at different pricing tiers that empower your client/customer to chose the pricing that matches their current budget?
Most Importantly
Continue Growing Your List
I know that I’m like a broken record when it comes to building your list. DO NOT slow down on this. Maybe your ideal community member/customer isn’t buying right now. There will be a point when this will change. Remember the following:
List building is connected to relationship building-Keep communicating and connecting with the audience that you’ve captured on your list.
During a down economic cycle creators will need to build more trust with their audience before they make a spending decision.
Your community members may take a little longer to make a spending decision.
What are your thoughts?
Michelle