In partnership with

Substack won’t help you the way you think it will.

👋 Welcome back to Content to Commas, the weekly playbook for creatorpreneurs and founders who want to monetize their content and build authority.

I’m not writing this to drag Substack.

I’m writing it because I keep hearing the same sentence on calls:

“I want to start a Substack” or “People are telling me to start a Substack”

Substack has become the default answer people give when they don’t know what to do with their ideas.

It feels calmer, less performative, less loud.

That’s exactly why so many are walking into the same trap. They think Substack is a business model.

It isn’t. It’s a channel.

And when you confuse the two, you end up working very hard for very polite applause.

📌 In this issue:

  • The Substack monetization mirage (and why it feels so convincing)

  • The math doesn’t math

  • The better path forward

Let’s get to work.

— Brandon

FROM OUR FRIENDS @ Levanta

Why AI Isn’t Replacing Affiliate Marketing After All

“AI will make affiliate marketing irrelevant.”

Our new research shows the opposite.

Levanta surveyed 1,000 US consumers to understand how AI is influencing the buying journey. The findings reveal a clear pattern: shoppers use AI tools to explore options, but they continue to rely on human-driven content before making a purchase.

Here is what the data shows:

  • Less than 10% of shoppers click AI-recommended links

  • Nearly 87% discover products on social platforms or blogs before purchasing on marketplaces

  • Review sites rank higher in trust than AI assistants

The Substack Promise…

The dream Substack sells, without ever saying it outright, goes something like this…

  1. you write consistently

  2. people discover your work through Notes, Post, and recommendations

  3. a meaningful percentage of them upgrade to paid

  4. suddenly you’re earning recurring revenue from your ideas.

  5. you “own your audience” & you’ve escaped the algorithm. Yay!!!!

What actually happens for most writers looks different.

  1. free subscribers grow quickly.

  2. engagement feels warm.

  3. people reply to posts and tell you how much your writing resonates.

  4. paid subscriptions barely move, and when they do, they stall.

Substack isn’t lying to you but it is letting you lie to yourself.

The core issue is the monetization model itself.

A paid subscription isn’t a compliment. It’s a behavior.

People pay monthly when something makes them money, saves time, removes pain, or replaces a real need. Most people do not pay monthly because they enjoy someone’s idea, even if the writing is good.

That makes subscriptions one of the hardest ways to monetize writing.

🔢 The math isn’t mathing…

Click enough Substack profiles and the pattern is obvious … strong free numbers & weak paid numbers.

I’ve seen creators hit 8,000 or even 13,000 subscribers in months, with paid hovering around 200. Different niches. Same outcome.

At $10 a month, 200 paid subscribers is $2,000 per month before fees and taxes. If you’re publishing multiple times a week and staying active on Notes, that’s a part-time job paying like a hobby.

The popular “3–5% conversion” stat hides the real story.

That range only works when the audience already buys things online and the writing shortens a clear path to money or relief. For many writers, the real number is closer to 0.5–1%.

At 10,000 subscribers, 1% paid is $1,000 a month. Not nothing. But far from the full-time narrative people expect.

💡 How to use Substack without getting stuck

Substack works best as a discovery and trust engine

Use it to test ideas, build depth, and meet people who would never have found you otherwise. But don’t make subscriptions your only buying moment.

Subscriptions should be a byproduct of trust, not the first ask.

A healthier model is to treat Substack as a bridge.

  • write publicly

  • capture attention

  • then give readers smaller ways to say yes outside the subscription.

A template. A workshop. A simple service. A sponsor slot. One clear offer you control.

Paid subscribers become a bonus, not the foundation.

Substack isn’t the villain. The story around it is.

Your writing deserves better than vibes and breadcrumbs. If Substack feels good, use it. Just don’t confuse comfort with a business.

This is how you turn words into commas.

👀 How to change it

Don’t take my word for it, run the numbers.

total subscribers, paid subscribers, monthly revenue, hours per week.

Calculate your effective hourly rate.

Decide what you want Substack to be: a hobby, a side income, or a real business line.

Substack can support all three. The problem is pretending you’re building a business while operating like a hobby.

If subscription revenue is flat after 60 days, don’t write more posts. Fix the model. More writing won’t solve a broken plan.

If you are serious about writing, I think Beehiiv, Kit, or Flodesk might be a better long-term strategy with using Substack as an extension or replacement for Threads or X.

📌 ICYMI…

Each week, I share simple tips on branding, making money, growth strategies, and useful tools that you might have missed. You can catch up in just a few minutes.

Tools I Love…

The stack I keep coming back to in my own business.

  • 📧 Beehiiv: Newsletters plus websites, podcast hosting, and link-in-bio. Use this exclusive link for 20% off 3 months → Launch a Beehiiv

  • 💸 Sequence: Top 5 apps I added last year. Manages all my money with simple, automated rules → Explore Sequence

  • 🔍 Stanley: Try my LinkedIn AI coach free for 3 days, get weekly post insights → Test it now

  • 🗂️ Notion: My HQ for projects, content calendar, and deal CRM → Duplicate my workspace

  • 🏦 Mercury: Business banking that stays clean. Deposit $10K in 90 days and get $250 → Open an account

  • 🎓 Teachable: Build, sell, and scale your course or digital product all in one place. Start for free and turn your knowledge into income → Start creating

  • 🧠 Granola: The best AI meeting notetaker I’ve used. No bots joining calls. No interruptions. Just clean notes → Try Granola

  • 📊 QuickBooks: The easiest way to legitimize your business finances and stay tax-ready → Set up QuickBooks

  • 💬 ManyChat: Turn comments into automatic DMs that convert → Build the flow

  • 📋 Typeform: Beautiful forms that convert and stay on brand → Start for free

My Content Kit

The gear I actually use to capture clean, usable content without overthinking it.

  • 🎙️ Shure MV7+: The mic I use for every call and recording. Clean audio matters more than video, especially early.

  • 📜 Teleprompter: Nobody memorizes scripts. Reading keeps you concise and confident.

  • 📱 Compact tripod: Compact, travel-friendly, and lets you shoot anywhere without friction.

  • 🔋 Anker battery pack: My most powerful charger. Even fully charges my MacBook on the go.

  • 🦾 Magic Arm: The easiest way to get dynamic angles and avoid static shots.

  • 🎤 DJI Mic 2: Reliable, clear audio when you’re traveling or filming on the move.

  • 🎥 DJI Osmo Pocket 3: A creator secret weapon for vlogs, BTS, and stabilized video.

  • 🎒 Bellroy Side Bag: My go-to content bag. Fits all of this and keeps everything organized when I’m moving.

  • 🧲 Suction mount: Instant dynamic angles on cars, windows, or desks without a tripod.

Posts You May Have Missed

These posts did numbers for a reason. Worth a reread.

  • 💄 David Protein Bars’ marketing play for women: A masterclass in borrowing culture, breaking category norms, and making targeting unmistakable → Read the breakdown

  • 💸 The difference between an expense and an investment: A simple mental shift that changes how creators spend, price, and grow → Read the post

  • 📈 The six levels of building in public: Why most people stall at visibility and never reach leverage, plus how to move up the stack → See the framework

  • 📬 10 Newsletters to Read If You Want to Make $10K/Month in 2026: The exact reads shaping my thinking around content, leverage, and monetization → See the list

Free Resources For You

  • 📷 Content Kit: The exact equipment to build dynamic content → Explore more

  • 🧰 Ultimate Creatorpreneur Toolkit: 70+ tools I used to build a six-figure business, with exclusive discounts → Grab the toolkit

  • 🪝 250 Proven LinkedIn Hooks: Copy, tweak, grow your brand faster → Get the hooks

  • 🤝 How to Land a Brand Deal: Zero-fluff guide to inbound and outreach that works → Learn the playbook

Brandon Smithwrick, Creator of Content to Commas™

Thanks for reading! Say hi 👋 on LinkedIn

Was this newsletter forwarded to you? Subscribe here

Interested in advertising? Get in touch

Reply

or to participate