« Side Hustle School

#1591 - Q&A: Should I start a Substack newsletter?


Substack and other services that offer writers the chance to publish paid newsletters are getting a lot of attention. What do you need to know if you’d like to jump in?  

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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
We all have goals and whether they are something you can accomplish today or they feel so completely out of reach. U S bank is here to help you get where you want to be, because they weave humanity into everything they do by investing to close the gaps for future generations and by creating a culture in which everyone feels support it. I would also by having people liked him have open conversations here on the pact asked to talk about the post pandemic economy and what it means for business. You can listen to our conversation on the special bonus episode or follow, or subscribed to side by side With- U S, bank or visit side by side with: U S, bank dot com to stay up to date on the entire limited series? U S, bank we'll get there together. They was a welcome to a brand new. We welcome as well to my daily podcast side, also school, in putting together the show for thirteen hundred and ninety one days now in a row I'm so
you're joining in whether this is your first episode or you're. One thousand five hundred ninety first episode, that's out of for me- have actually been here for all them, but then, against my show, but hey guess what this is your show to its all about creating freedom to the form of a money making project. What is something you can do right away to not just makes some extra money, which is cool, but also create an asset that allows you to do more, what's important to you, whether that is to get out of debt or create an all new income or you'll, make a big career transition, or just you something creative. In fact, today's episode can hit on all those today's listener question. Let's say because blogging is cool again, at least it seems that way.
You may have heard some reports are seen some reports about journalists who gone freelance I've gone independent and are earning large sums of money through newsletters, the most common platform. These newsletters use is sub stack, which allows independent riders to publish pre an paid versions of their newsletter. So how much money are we talking about? And should you look into this? That's what today's listener wants to know. Should I start a sub stack newsletter, so let's talk about how it works pros and cons. Can a stock after this quick message from our sponsor state. It is a- and I just recently found your show, a really enjoying the content so far and I'm excited there are a ton of episodes, listen to long ago I had a blog, and then it went away. Most blogs go to the blood graveyard of neglected posts
I enjoyed it while it lasted better, got busy with other stuff, and I figured that blogging was dead anyway, so I should focus my side hustle attention on other channels like Youtube. However, I have been hearing a lot about substance As best I can tell its newsletter service that does a lot of weblogs always did accept people pay, for it am I right and if I wanted to start a subject newsletter myself. What should I know in advance, thanks and looking forward to hearing you hey Sarah thanks so much for message, I really appreciate it. I appreciate you and I think we all had a blocked. It ended up in the blog graveyard of neglected posts. So yes, always interesting to consider. Can we bring them back somehow so for them
you don't know listeners if you haven't heard of substantial, just a value in and take a peek at sub stack dot com. Basically, this is a platform that supports independent writers makes it really easy to start a newsletter that is free, but also has a paid version, or even if all of your content is free, you can invite readers to support you. Basically, so it's kind of a blend of blend, of like word, press and patriotic and a few different thing is kind of all mixed up. I have to admit like when I first saw some articles about substantial. I thought. Oh, that's, cool, but what's knew about it. You know because, like if I go back alongside us all entrepreneurial history? Fifteen years ago I had a paid newsletter about travel rewards and, of course there are many others long before that. So I guess part of what's new about substance is at its frictionless and simple payment processing is all built in and such, but even that's been done to some degree by others.
MRS before so so as to why this is a moment now, I'm not totally sure, but I think I have a better answer to the second question, which is more potent. anyway, what should you know if you want to start a paid newsletter, whether it's on sub stacker or elsewhere? So I think two things you know topic in audience: so I mentioned such tat. People making money there, a number of journalists who making multiple six figures annually from a sub stack newsletter, which is pretty crazy and not the data is public, but a lot of it is in some other subject: writers you choose to make their their data available for anyone. So there are various sites that have leader boards in such. So if you want to join the club two things like an audience right. First of all, unless you have an existing platform, meaning like a lot of people who already follow you, want to hear from you about all sorts of things. You really
really need to specialise. So the topic has to be broad enough to attract wide interest, yet focus enough to allow you to go deep. Ok, I mentioned travel before her. You know if you're topic was travel wouldn't be so get ok, frequent flyer miles to travel around the world for free. That's why I was writing about years ago. That's better much more specific, much more benefit driven It can also be some kind of cooking tutorials around the world or could be. I can industry newsletter that analyzes the hospitality world you know so there it's very much focused on a different audience, but if you each of those three examples like whether its travel rewards or cooking tutorials or the hospitality industry newsletter. All three. Those examples are much more specific, so apply that kind of thinking to whatever failure. Considering now Esper audience, When people have done the best with sub stack, especially the ones you didn't, have a big platform before they have really focused hard on those free articles, they have written some posts used
subject format that have done really well because they ve been like in depth, really helpful, practical or maybe provocative in some way couple different approaches, but the point is their writing an article. That's that's really interesting, got a lot of attention for them. You know those articles tend to spread, and then they have converted some of those people who then joined the newsletter overtime into paid subscribers. So topic audience it's a lot of work, but it's also joyful work for person. So if you, if you dont like writing, this is defined for you. If you can, wanted to be a writer and you're willing to spend a lot of time. Writing which is important right, such as being a rider it's like to do such jack properly. You need to spend a lot of time. Writing. Could this be a model to look into? I think absolutely for sure I mean some people, as I said, are doing quite well with it. Even if you don't do
Multiple six figures a year with it. If you want to be a writer and build a portfolio in community over time, then they make it pretty simple so subject I do. I takes ten percent of subscription these at least to the time I'm making this, which seems reasonable to me. If you might be able to just do this on your own and not paid a ten percent at the point you are making it simple. They have this built an ecosystem, etc? So I hope that is helpful to Sierra anybody else out there whose curious about it listeners, if you have a question, come to silence all school dotcom, slash questions I continue to face them throughout the year along with updates letter listeners, has they launch their projects. Thank you. So much for tuning in helpless. It's right come back tomorrow, much more on the way my name is critical about this. Is What.
From the onward projects.
Transcript generated on 2021-08-11.