'I Built and Sold a Newsletter for 5 Figures - Here's How!' by sjkelleyjr entrepreneurship startuplessons
As you can see, I’d already sent out 17 emails before pivoting. There is an obvious inflection point in the subscriber graph when I pivoted, and at that point, I knew I was on to something.
This is lesson number 1: build something for customers that are similar to you. I didn’t realize what an advantage this was until later on. People were saying that I “was a moron”, “my content wasn’t worth 1 cent let alone $10 a month”, “how dare I”, etc etc. I waited. Surely, these were a vocal minority, and the real subscribers would start subscribing. So I waited…and kept waiting… and the subscriber graph kept dropping, and the hatemail kept coming.
https://www.businessinsider.com/advertisements-emerge-on-substacks-ad-free-newsletter-ecosystem-2021-1And they worked! These marketplaces send advertisers to publishers interested in advertising in newsletters, the publishers bid on these advertising dollars, and the ad platforms take a percentage of the dollars spent. Advertising is still the business model of Console today.Hold on a second.
There are countless growth hacks that I learned while running the newsletter. More than anything, this taught me how important these growth hacks are to a business.
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