How to Build and Grow a Newsletter as a Business Model

[Andy Black]

Inside Twitter’s product roadmap under Musk

A new Vine camera is in. Notes and Revue are out

www.platformer.news

Revue to be shut down by the end of the year. Looks like it wasn't particularly lucrative. What's funny is that Meta's newsletter service was also shut down so it seems like the big businesses can't figure out the newsletter space.

@Andy Black you were using Revue for something, right? Or am I mistaken?

I had a quick look at Revue but preferred Substack. I decided to use New Zenler as it can host courses and design landing pages.

I'm not surprised they're going out of business. I was surprised there was no discoverabilty built into the platforms. They relied on people bringing their own audiences to the platforms, and most who want to write don't know how to build an audience. YouTube has discoverabilty built in so people keep creating on YouTube which brings the consumers.

Substack has a dumb business model too. They take 10% of revenue (iirc). So they're great to start on but the more successful your newsletter the bigger the business case to migrate off the platform.

 

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[MTF]

I had a quick look at Revue but preferred Substack. I decided to use New Zenler as it can host courses and design landing pages.

I'm not surprised they're going out of business. I was surprised there was no discoverabilty built into the platforms. They relied on people bringing their own audiences to the platforms, and most who want to write don't know how to build an audience. YouTube has discoverabilty built in so people keep creating on YouTube which brings the consumers.

Substack has a dumb business model too. They take 10% of revenue (iirc). So they're great to start on but the more successful your newsletter the bigger the business case to migrate off the platform.

That's a very good point. If they're taking a cut but offering discoverability then that makes sense. But if not, then it makes no sense to stay there as you grow.

I know that relying on a platform to bring you visibility is not safe from the perspective of control but nonetheless it's my favorite business model as you can essentially delegate marketing.

 

[Andy Black]

That's a very good point. If they're taking a cut but offering discoverability then that makes sense. But if not, then it makes no sense to stay there as you grow.

I know that relying on a platform to bring you visibility is not safe from the perspective of control but nonetheless it's my favorite business model as you can essentially delegate marketing.

I've no concerns about building an audience on platforms I don't own. You own the content library that built the audience and can use it again.

I got that aha moment from Nicolas Cole's book - you can take your library to another platform and build an audience there, maybe with minor tweaking.

Even more valuable than your library of content that builds an audience are the skills and systems you develop to create that content. When you've figured out how to build niche sites from scratch and build income producing assets then that IP and knowledge is gold @MTF.

If you then turn that content into video assets then that's another income producing system. Etc.

 

[Joker_P5R]

I just finished to read the entire thread.
That's a gold nugget, for real.

What I'd like to understand from @MTF is how to select the topic of the newsletter.
I mean, I have an idea to start several newsletters, about different topics.

One of them will be about a mainstream topic like psychology. I'd like to build a particular newsletter that can actually help the readers, with some specific actions I already planned.

I don't know global psychology industry so well, especially for english-speakers, so I'd like to know if there's still some space for new ideas.

Otherwise, I will write newsletter in italian, avoiding global competitors.

Thanks for your comments

 

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[Andy Black]

I just finished to read the entire thread.
That's a gold nugget, for real.

What I'd like to understand from @MTF is how to select the topic of the newsletter.
I mean, I have an idea to start several newsletters, about different topics.

One of them will be about a mainstream topic like psychology. I'd like to build a particular newsletter that can actually help the readers, with some specific actions I already planned.

I don't know global psychology industry so well, especially for english-speakers, so I'd like to know if there's still some space for new ideas.

Otherwise, I will write newsletter in italian, avoiding global competitors.

Thanks for your comments

My thoughts:

See where you can get a daily trickle of subscribers from.

Don't even create a welcome email.

Send personal emails or video welcomes to your first subscribers.

This has two benefits:

1. If you don't get any subscribers then you've wasted no time creating content no-one will ever see.
2. You get into actual conversation with your initial subscribers.

As an example, I did a test a couple of years ago where I ran Google Ads and got daily email signups.

(Note that XYZ is a placeholder. I didn't bid on XYZ or have it in the ad or landing page.)

I bid on exact match keyword: xyz tips

My ad headline was simple:

Get XYZ Tips - Straight To Your Inbox
(Then there was some blurb in the ad description.)

My landing page was just as simple:

Get XYZ Tips
Straight To Your Inbox
< Join Now >

It was enough to get signups, daily. It proved to me I could build a newsletter for XYZ. It also showed how little we need to start, and that maybe the priority should be trying to build a machine that gets subscribers (in a subject they're likely to pay for more value).

 

[Joker_P5R]

See where you can get a daily trickle of subscribers from.

Hi @Andy Black and thanks.
Get a daily trickle of subscribers, are you meaning with surfing into forums/fb groups/social media?

 

[MTF]

I agree with @Andy Black. You need some source of subscribers before starting a newsletter. The biggest mistake is to start a newsletter without knowing where you'll find your first readers.

 

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[Andy Black]

Hi @Andy Black and thanks.
Get a daily trickle of subscribers, are you meaning with surfing into forums/fb groups/social media?

Getting a trickle of subscribers from forums, Facebook groups, social media can be a great way to get started - maybe even the best way.

These threads might help:

• HOT! - MARKETING - How to use forums (and Facebook groups)
• MARKETING - Just start already
• GOLD! - HOT! - Who have you helped?

I'm wary of content treadmills that require me to post every day to get new subscribers.

Eventually I'd want to setup little machines that bring in subscribers for months and years later. That could be YouTube videos that keep getting views years later. Or it could be paid ad campaigns that run breakeven bringing in daily subscribers. Or other machines that are no longer bound to your time.

 

[Andy Black]

I did a test a couple of years ago where I ran Google Ads and got daily email signups.

(Note that XYZ is a placeholder. I didn't bid on XYZ or have it in the ad or landing page.)

I bid on exact match keyword: xyz tips

My ad headline was simple:

Get XYZ Tips - Straight To Your Inbox
(Then there was some blurb in the ad description.)

My landing page was just as simple:

Get XYZ Tips
Straight To Your Inbox
< Join Now >

It was enough to get signups, daily. It proved to me I could build a newsletter for XYZ. It also showed how little we need to start, and that maybe the priority should be trying to build a machine that gets subscribers (in a subject they're likely to pay for more value).

I forgot I had a thread for this:

• Growing an email list with Google Ads

 

[Joker_P5R]

I agree with @Andy Black. You need some source of subscribers before starting a newsletter. The biggest mistake is to start a newsletter without knowing where you'll find your first readers.

I agree, definitely.
My plan is to hugely work on Quora to make my name and build a following group.

Getting a trickle of subscribers from forums, Facebook groups, social media can be a great way to get started - maybe even the best way.

These threads might help:

• HOT! - MARKETING - How to use forums (and Facebook groups)
• MARKETING - Just start already
• GOLD! - HOT! - Who have you helped?

I'm wary of content treadmills that require me to post every day to get new subscribers.

Eventually I'd want to setup little machines that bring in subscribers for months and years later. That could be YouTube videos that keep getting views years later. Or it could be paid ad campaigns that run breakeven bringing in daily subscribers. Or other machines that are no longer bound to your time.

@Andy Black I'm considering to build a welcome video to be loaded on youtube and sent to new subscribers.
I'm trying to build the newsletter from scratch, without pay for Ads, for the moment.

Does it sounds so crazy?

 

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[Andy Black]

I agree, definitely.
My plan is to hugely work on Quora to make my name and build a following group.

@Andy Black I'm considering to build a welcome video to be loaded on youtube and sent to new subscribers.
I'm trying to build the newsletter from scratch, without pay for Ads, for the moment.

Does it sounds so crazy?

Check out the threads I linked to earlier.

Personally, I've still not created a welcome video, and I only just created an automated welcome email two days ago! Until then I sent personalised Loom videos or personalised emails. Why automate something you've not one by hand yet?

 

[Kung Fu Steve]

I suppose I can jump in here nowadays.

I've relaunched "The Path" (you guys were both part of) as a newsletter + coaching. Instead of 4 coaching calls, it's now 2 newsletters and 2 coaching calls.

Plus I'm just giving members all of my programs, checklists, and stuff that I use as a consultant. So basically I've narrowed it down to 2 products. 150k for consulting (for the year obviously), or 297/month for the newsletter with all the stuff. A "here's how to do it" or a "done with you"

I love the newsletter model much better. It lets me actually give a lot more value. And then the 2 "clarifying" coaching calls let me answer questions, help people, and all that. It also makes sure I don't have to constantly launch new programs, products, services, etc. to make money. Turning it into a business instead of a promotion.

I'm on the higher end here at 297/month. I haven't launched the annual for $2k (but I'll sell that via webinar).

I did a couple copywriting projects for Agora years ago. We did a big launch at one point. I always liked their business model.

Anyways. Willing to share my progress if y'all want!

 

[MTF]

Anyways. Willing to share my progress if y'all want!

Yeah definitely. It's an interesting approach.

 

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[Andy Black]

I love the newsletter model much better. It lets me actually give a lot more value.

It also makes sure I don't have to constantly launch new programs, products, services, etc. to make money. Turning it into a business instead of a promotion.

I like the newsletter model too. I personally feel the world went a bit mad for online communities (Facebook groups, Discord, Circle(.)so, etc).

And I like sending emails to paid subscribers without wondering how to pit offers in front of them.

 

[Joker_P5R]

@MTF, @Andy Black how do you find the topic you are going to talk about in the NL?

 

[MTF]

@MTF, @Andy Black how do you find the topic you are going to talk about in the NL?

Personal interest. Write only about what you like reading about. Otherwise you won't be able to keep up with the newsletter for long.

 

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[Joker_P5R]

Personal interest. Write only about what you like reading about. Otherwise you won't be able to keep up with the newsletter for long.

What if you have various personal interests that are not necessarily related?

Do you choose one of them?

 

[Andy Black]

@MTF, @Andy Black how do you find the topic you are going to talk about in the NL?

Do you mean the topic for the whole newsletter, or the topic for an issue of the newsletter?

 

[Joker_P5R]

@Andy Black the main topic for the whole newsletter

 

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[Andy Black]

@Andy Black the main topic for the whole newsletter

If you're the one doing the writing then I'd start with a topic you either know a lot about or you're interested in, like @MTF said.

What do you already help people with? What do people ask you for help with? Can you do an educational newsletter on that topic?

What do you like learning about? Can you do a curated newsletter on that topic?

 

[Joker_P5R]

If you're the one doing the writing then I'd start with a topic you either know a lot about or you're interested in, like @MTF said.

What do you already help people with? What do people ask you for help with? Can you do an educational newsletter on that topic?

What do you like learning about? Can you do a curated newsletter on that topic?

@Andy Black that's the point.
As said in previous thread, I'm working in logistics as employee. There's no interest for regular people, except for companies that do import export.

And, in any case, Infos are usually spread by customs, shipping companies and some other industry players...

My biggest problem is that I should write about psychology a lot since I've read dozens of books and about I'm very passionate about.

But there will be just another newsletter on psychology

 

[Andy Black]

There's no interest for regular people, except for companies that do import export.

How many companies would that be? How many people at those companies would be interested?

Maybe start by seeing what's already out there for those people?

And, in any case, Infos are usually spread by customs, shipping companies and some other industry players...

Does that make it hard to get all the info in one place?

But there will be just another newsletter on psychology

Swap but for and.

Are you saying there's lots of psychology newsletters? Are there lots of people reading them?

Is that a good thing?


How can you test either of your two suggestions above?

You seem to be analysing from afar why things won't work rather than finding out by engaging the market itself.

 

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[Joker_P5R]

Dear @Andy Black
Your arguments are right.

There are a lot of topics I'm passionate about.
Finance is another one.

I suffer of impostor syndrome and I'm always afraid to be an impostor in everything I do.
Because I'm not a psychologist, nor a financial advisor.

Then, internet is plenty of personal finance blogs and psychology blogs.

I lack a lot of self-esteem, so I'm always stuck in a limbo

 

[Andy Black]

Dear @Andy Black
Your arguments are right.

There are a lot of topics I'm passionate about.
Finance is another one.

I suffer of impostor syndrome and I'm always afraid to be an impostor in everything I do.
Because I'm not a psychologist, nor a financial advisor.

Then, internet is plenty of personal finance blogs and psychology blogs.

I lack a lot of self-esteem, so I'm always stuck in a limbo

Are you doing people a disservice by not publishing?

 

[Joker_P5R]

Are you doing people a disservice by not publishing?

@Andy Black , Idk.
I think I'm not doing any disservice, at least for psychology and finance topic. Internet is plenty of self-declared expert on these topics. And I don't want to mix me up in this mess...

Regarding logistics, truth to be told Idk...
Even if I open an informative blog in logistic, there are redundant information and, often, only useful for industry professionals, that can use infos for their benefit with their customers...

The main issue I face is that I do not have a degree for specific skills to be sold on the market.
I know, evidence in hand, that I'm not so bad in copywriting. I done some little jobs in the past for some companies.

But I don't like copywriting niche. There are so many fake-gurus or fake-professionals that are screaming with their blogs all the same advices...

I know that I could build one of most complete pyschology newsletter on the planet.
But I also know that my main competitor is Psychology Today, with over 1000 pages of posts and a massive credibility all over the world...

I know that I could build one of most complete financial newsletter on the planet.
But I also know that my main competitor is Agora Financial, with a massive credibility all over the world as well as PT.

I know I'm overthinking, I feel stuck in such kind of limbo without a way out...

That's why I have a lot of doubt about topic...

 

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[Cameraman]

@Andy Black that's the point.
As said in previous thread, I'm working in logistics as employee. There's no interest for regular people, except for companies that do import export.

And, in any case, Infos are usually spread by customs, shipping companies and some other industry players...

My biggest problem is that I should write about psychology a lot since I've read dozens of books and about I'm very passionate about.

But there will be just another newsletter on psychology

@Andy Black , Idk.
I think I'm not doing any disservice, at least for psychology and finance topic. Internet is plenty of self-declared expert on these topics. And I don't want to mix me up in this mess...

Regarding logistics, truth to be told Idk...
Even if I open an informative blog in logistic, there are redundant information and, often, only useful for industry professionals, that can use infos for their benefit with their customers...

The main issue I face is that I do not have a degree for specific skills to be sold on the market.
I know, evidence in hand, that I'm not so bad in copywriting. I done some little jobs in the past for some companies.

But I don't like copywriting niche. There are so many fake-gurus or fake-professionals that are screaming with their blogs all the same advices...

I know that I could build one of most complete pyschology newsletter on the planet.
But I also know that my main competitor is Psychology Today, with over 1000 pages of posts and a massive credibility all over the world...

I know that I could build one of most complete financial newsletter on the planet.
But I also know that my main competitor is Agora Financial, with a massive credibility all over the world as well as PT.

I know I'm overthinking, I feel stuck in such kind of limbo without a way out...

That's why I have a lot of doubt about topic...

Back in the 1980s, I worked in a Bank dealing with International Trade Finance for import and export. One of the guys I worked with ran a newsletter advising small businesses and individuals how to import and export. He would include information about logistics, how to act as a middleman, how to find customers as well as technical details about Bills of Lading and the like.

His subscribers were extremely loyal and would also employ him as a consultant, or offer him partnership opportunities for deals they didn't have the expertise to handle.

You may not like what you do but if you have the expertise you should use it; at least at the start. You can always move on to something else later.

 

[Andy Black]

@Andy Black , Idk.
I think I'm not doing any disservice, at least for psychology and finance topic. Internet is plenty of self-declared expert on these topics. And I don't want to mix me up in this mess...

Regarding logistics, truth to be told Idk...
Even if I open an informative blog in logistic, there are redundant information and, often, only useful for industry professionals, that can use infos for their benefit with their customers...

The main issue I face is that I do not have a degree for specific skills to be sold on the market.
I know, evidence in hand, that I'm not so bad in copywriting. I done some little jobs in the past for some companies.

But I don't like copywriting niche. There are so many fake-gurus or fake-professionals that are screaming with their blogs all the same advices...

I know that I could build one of most complete pyschology newsletter on the planet.
But I also know that my main competitor is Psychology Today, with over 1000 pages of posts and a massive credibility all over the world...

I know that I could build one of most complete financial newsletter on the planet.
But I also know that my main competitor is Agora Financial, with a massive credibility all over the world as well as PT.

I know I'm overthinking, I feel stuck in such kind of limbo without a way out...

That's why I have a lot of doubt about topic...

You're in your own way.

The main issue I face is that I do not have a degree for specific skills to be sold on the market.

You don't need a degree to help people. I was in IT for 15 years without a degree in IT. I've been running Google Ads for 13 years without a marketing degree or Google certifications.

"You can't invoice for input."
(Blaise Brosnan)


Have you read this one:

NOTABLE! - What if you already know enough?

The most obvious danger of consuming too much is that it turns you into a consumer. A lot of that “free” (and paid) content out there is designed to turn you into someone else’s consumer. (And it’s not free btw... not unless you put zero value on the time it took to consume that “free”...

www.thefastlaneforum.com

 

[Joker_P5R]

Back in the 1980s, I worked in a Bank dealing with International Trade Finance for import and export. One of the guys I worked with ran a newsletter advising small businesses and individuals how to import and export. He would include information about logistics, how to act as a middleman, how to find customers as well as technical details about Bills of Lading and the like.

His subscribers were extremely loyal and would also employ him as a consultant, or offer him partnership opportunities for deals they didn't have the expertise to handle.

You may not like what you do but if you have the expertise you should use it; at least at the start. You can always move on to something else later.

@Cameraman logistics is an industry where there are tons of information to be spread.

The point is that this service is a commodity.

You can give tons of information, anytime, anywhere. In any case, the customer will go to whoever costs the least. Because there is no perception of uniqueness. Because 99% of freight forwarders are general cargo, and everyone gives the same information.

Logistics is a set of processes and steps of responsibility between the various subjects involved. You, as freight forwarder, can tell to customers how to make a bill of lading, but it will necessarily go through the bank, which will give you more information about any payment constraints applied.

You can talk about pure transportation, but these are topics that people don't follow passionately. Once they understand import/export basics, they go looking for the lowest rate and leave the responsibilities to freight forwarder itself.

This is an industry where the small mistake may cause serious problems that need huge amount of money to be solved. So the players in the process, tend to delegate responsibilities to another player (customer to freight forwarder, f/f to shipping line or custom broker.).

In this industry, "It's always someone else's fault": it's the main mindset for every part involved, to avoid to pay real money to solve mistakes.

Taking responsibilities for your actions can be quite dangerous because almost everything you say, is an information that can be interpreted differently, by different people, and lead to different outcome.

Moreover, final customers are not so starving for continuous information. Most of the shared information is followed by other industry operators, who however will use it for their work.

It's a beautiful world. But it's not interesting for the final customer, it's more interesting for the industry operators.

Look at this link: Home

It is full of posts with technical information, more useful for those who work in the sector than for those who need to use the service.

 

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[Joker_P5R]

You're in your own way.


You don't need a degree to help people. I was in IT for 15 years without a degree in IT. I've been running Google Ads for 13 years without a marketing degree or Google certifications.

"You can't invoice for input."
(Blaise Brosnan)


Have you read this one:

NOTABLE! - What if you already know enough?

The most obvious danger of consuming too much is that it turns you into a consumer. A lot of that “free” (and paid) content out there is designed to turn you into someone else’s consumer. (And it’s not free btw... not unless you put zero value on the time it took to consume that “free”...

www.thefastlaneforum.com

@Andy Black I'm reading the thread...

I'm not english-native speaker, I don't get what you mean with "You're on your way"...

 

[Andy Black]

I'm not english-native speaker, I don't get what you mean with "You're on your way"...

The obstacle in your way that is stopping you move forward is... you.

Your thoughts and the way you think are your limiting factor at the moment.