Patrick Seaton interviews Carrie Loranger about Substack on The Innovative Management Tools Radio Show with Peter Mingils

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Patrick Seaton has a great guest on the Innovative Management Tools Building Fortunes Radio Show with Peter Mingils. Carrie Loranger explains Substack and how she uses it for multiple streams of income.

Carrie Loranger was successful in Management and marketing on her own. Then she decided to generate multiple streams of income on her own. She found substack was a great way to accomplish this:

Her substack link is: thrivewithcarrie.substack.com

On this episode Carrie Loranger also mentions her three day Training on setting up your own Substack page. Learn more on https://camp.substack360.com

What is Substack?

Substack is an online platform, launched in 2017, that enables writers, journalists, podcasters, and other creators to publish newsletters, podcasts, and videos directly to their audience. It provides tools for content creation, distribution, audience management, and monetization through subscriptions. Substack allows creators to own their content and subscriber lists, offering a direct relationship with their audience without reliance on traditional media gatekeepers or social media algorithms. It's headquartered in San Francisco and has grown significantly, with over 5 million paid subscriptions by March 2025.

How Substack Helps Create Multiple Streams of Income

Substack offers several ways for creators to generate revenue, making it a versatile platform for building multiple income streams. Below are the primary methods:

1. Paid Subscriptions
   The core monetization method on Substack is offering paid newsletters. Creators can set up free and paid tiers, charging subscribers monthly or annually (minimum $5/month) for exclusive content. Substack takes a 10% fee (plus Stripe's ~2.9% processing fee) on subscription revenue. Successful creators like Emily Atkin and Edwin Dorsey have earned six-figure incomes through paid subscriptions, with consistent, high-value content driving subscriber retention. For example, a creator with 1,000 subscribers at $5/month could earn $60,000 annually, minus fees.
2. Affiliate Marketing
   Creators can incorporate affiliate links into their newsletters, earning commissions for promoting products or services relevant to their audience. By joining programs like Amazon Associates or ShareASale, creators can generate passive income when readers make purchases through these links. Earnings vary based on audience size and product relevance, but this method requires minimal upkeep once links are set up, provided recommendations align with audience trust.
3. Sponsorships and Advertising
   Creators with sizable audiences can attract sponsorships, where brands pay to be featured in newsletters or posts. This is particularly lucrative for niche creators with engaged readers. Unlike traditional ad-driven platforms, Substack's model allows creators to negotiate sponsorships directly, retaining more control and revenue.
4. Digital Products and Services
   Substack creators can leverage their audience to sell additional products like e-books, online courses, or templates. For example, platforms like Whop integrate with Substack to sell courses or premium content, as seen with The Pop-Up School. Creators can promote these through their newsletters, adding revenue streams without heavy reliance on subscriptions.
5. Live Events and Community Features
   Substack supports live events, Q&A sessions, or workshops, which can be monetized through ticket sales or exclusive access for paid subscribers. Features like Substack Chat and Notes allow creators to foster community engagement, potentially leading to premium offerings like coaching or private group access.
6. Pledges
   For creators not yet ready for paid subscriptions, Substack's Pledge feature allows readers to tip or pledge support on a monthly, yearly, or one-time basis. This is ideal for smaller newsletters building toward monetization.

Considerations for Success

To maximize income, creators must consistently deliver valuable content, understand their audience, and engage through Substack's tools like Notes and Chat. Building an audience takes time, and success depends on niche expertise, regular posting, and leveraging Substack's network for discovery (e.g., through recommendations). However, the 10% platform fee and the need for ongoing content creation can be drawbacks, and creators should diversify income to avoid over-reliance on subscriptions.

By combining paid subscriptions, affiliate links, sponsorships, digital products, events, and pledges, Substack creators can build sustainable, diversified revenue streams while maintaining creative control.

Patrick Seaton finished this show with the IMT (Innovative management Tools lesson.

Patrick Seaton's website is https://innovativemanagementtools.com
Summary of Innovative Management Tools Website

The website for Innovative Management Tools (IMT), accessible at https://innovativemanagementtools.com, showcases a company founded in 2003 by Patrick Seaton, focused on delivering digital change management solutions for organizations. IMT aims to empower businesses to address challenges, enhance productivity, and foster innovation through a suite of tools and services. The site emphasizes IMT's evolution from crafting survival tools for projects to developing comprehensive solutions that integrate change management, problem-solving sales, and neuroscience insights.

Key offerings include 30 Conversation Frameworks, customizable tools designed to tackle organizational, departmental, and employee challenges. These frameworks support strategic alignment, leadership accountability, and employee engagement. A highlighted product is the book The Elephant Under the Rug, which narrates a company's year-long transformation using IMT's tools, presented through a creative adaptation of The 12 Days of Christmas. The book provides insights for fostering resilience and growth. IMT also offers digitalized change management tools, developed over 15 years, enhanced by advancements in remote work technology post-2020.

The website details IMT's holistic approach, merging brain science, sales processes, and change management to address complex business problems. Patrick Seaton's 20+ years of global experience across the U.S., France, Singapore, and Mexico informs IMT's innovative strategies. The site highlights testimonials praising IMT's impact, such as transforming performance at the Detroit Athletic Club and Barona Resort & Casino. IMT's mission is to enable organizations to independently manage change, reducing reliance on external consultants.

The site is user-friendly, offering contact options for personalized services and tool customization. It emphasizes IMT's 20-year milestone, celebrating its growth into a leader in digital change management. Overall, the website positions IMT as a forward-thinking partner for businesses seeking sustainable, innovative solutions.

Peter Mingils and Patrick Seaton host his radio show on Thursdays.
next week is Part 5 of Change Readiness. Here's a link to last week's Part 4:
https://buildingfortunesradio.com/patrick-seaton-on-change-readiness-part-4-of-6-on-the-innovative-management-tools-radio-show/

The post Patrick Seaton interviews Carrie Loranger about Substack on The Innovative Management Tools Radio Show with Peter Mingils appeared first on Building Fortunes Radio Network.