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After three months of going paid, I can say, this thing is for real.
https://abs.twimg.com/emoji/v2/... draggable="false" alt="❤️" title="Rotes Herz" aria-label="Emoji: Rotes Herz"> ~600 paying members
https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔥" title="Feuer" aria-label="Emoji: Feuer"> ~33,000 subscribers
https://abs.twimg.com/emoji/v2/... draggable="false" alt="🤯" title="Explodierender Kopf" aria-label="Emoji: Explodierender Kopf"> ~$130,000 ARR
I& #39;ve learned a lot over the past quarter. If you& #39;re building a modern media company, I hope this breakdown is usefulhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Rückhand Zeigefinger nach unten" aria-label="Emoji: Rückhand Zeigefinger nach unten">
I& #39;ve learned a lot over the past quarter. If you& #39;re building a modern media company, I hope this breakdown is useful
~600 paying membershttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🔥" title="Feuer" aria-label="Emoji: Feuer"> ~33,000 subscribershttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🤯" title="Explodierender Kopf" aria-label="Emoji: Explodierender Kopf"> ~$130,000 ARRI& #39;ve learned a lot over the past quarter. If you& #39;re building a modern media company, I hope this breakdown is useful https://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Rückhand Zeigefinger nach unten" aria-label="Emoji: Rückhand Zeigefinger nach unten">" title="After three months of going paid, I can say, this thing is for real. https://abs.twimg.com/emoji/v2/... draggable="false" alt="❤️" title="Rotes Herz" aria-label="Emoji: Rotes Herz"> ~600 paying membershttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🔥" title="Feuer" aria-label="Emoji: Feuer"> ~33,000 subscribershttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🤯" title="Explodierender Kopf" aria-label="Emoji: Explodierender Kopf"> ~$130,000 ARRI& #39;ve learned a lot over the past quarter. If you& #39;re building a modern media company, I hope this breakdown is useful https://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Rückhand Zeigefinger nach unten" aria-label="Emoji: Rückhand Zeigefinger nach unten">" class="img-responsive" style="max-width:100%;"/>
1/
If you want to jump straight in, I made a deck that walks through the details.
Hit the link below. Or keep scrolling.
https://projector.com/story/0fa0076f-b271-4b57-bd0d-b103fab5c4aa?scene=ddbd7c54">https://projector.com/story/0fa...
If you want to jump straight in, I made a deck that walks through the details.
Hit the link below. Or keep scrolling.
https://projector.com/story/0fa0076f-b271-4b57-bd0d-b103fab5c4aa?scene=ddbd7c54">https://projector.com/story/0fa...
2/
Here are the high-level metrics.
As a note, "revenue" ≠"salary."
I& #39;m taking as small a salary as I can and investing revenue in making the product better.
Here are the high-level metrics.
As a note, "revenue" ≠"salary."
I& #39;m taking as small a salary as I can and investing revenue in making the product better.
3/
Things have been trending well for the most part.
I pay closest attention to MRR, which has been growing steadily.
Things have been trending well for the most part.
I pay closest attention to MRR, which has been growing steadily.
4/
Monthly churn is sub 5% so far, but definitely something I& #39;m keeping an eye on.
The good/bad news is that a lot of churn seems to be due to failures of communication on my end. Hopefully I can improve on that front.
Monthly churn is sub 5% so far, but definitely something I& #39;m keeping an eye on.
The good/bad news is that a lot of churn seems to be due to failures of communication on my end. Hopefully I can improve on that front.
5/
Growth has been mostly good, and same with engagement.
Btw, the "engagement score" feature is something @ConvertKit offers which is super helpful. Credit to @nathanbarry.
Growth has been mostly good, and same with engagement.
Btw, the "engagement score" feature is something @ConvertKit offers which is super helpful. Credit to @nathanbarry.
6/
You can see the lumpiness of growth. There& #39;s for sure a correlation between # of pieces (input) and new subscribers (output) but its not linear.
H/t to @ZReitano for introducing me to this framework from Working Backwards.
You can see the lumpiness of growth. There& #39;s for sure a correlation between # of pieces (input) and new subscribers (output) but its not linear.
H/t to @ZReitano for introducing me to this framework from Working Backwards.
7/
Sounds crazy to say, but the Members-Only community is the best thing I& #39;ve built.
It takes time, for sure, but the caliber of discussion and connections being created is wild to me.
Sounds crazy to say, but the Members-Only community is the best thing I& #39;ve built.
It takes time, for sure, but the caliber of discussion and connections being created is wild to me.
8/
It& #39;s a little too new to have solid metrics yet, but I& #39;m excited to track over time.
So far, people seem to really be digging it and engaging.
It& #39;s a little too new to have solid metrics yet, but I& #39;m excited to track over time.
So far, people seem to really be digging it and engaging.
9/
Some really cool stuff happened that doesn& #39;t show up in numbers.
- Got to jam with awesome people like @jackbutcher @patrickxrivera @Iiterature
- Got interviewed by one of my favorite writers @Alex_Danco
- Featured in some great publications
Some really cool stuff happened that doesn& #39;t show up in numbers.
- Got to jam with awesome people like @jackbutcher @patrickxrivera @Iiterature
- Got interviewed by one of my favorite writers @Alex_Danco
- Featured in some great publications
10/
Those collaborations and creations resulted in some really lovely comments.
Huge thank you to @phil_jacobson, @tylertringas, @shreyas, @sajithpai, @galaxyRTK, @parkerhendo, @SheckyGreen, @MylesDanielsen, and @saxena_puru for some of my favorites from Q1.
https://abs.twimg.com/emoji/v2/... draggable="false" alt="🙏" title="Gefaltete Hände" aria-label="Emoji: Gefaltete Hände">
Those collaborations and creations resulted in some really lovely comments.
Huge thank you to @phil_jacobson, @tylertringas, @shreyas, @sajithpai, @galaxyRTK, @parkerhendo, @SheckyGreen, @MylesDanielsen, and @saxena_puru for some of my favorites from Q1.
" title="10/Those collaborations and creations resulted in some really lovely comments. Huge thank you to @phil_jacobson, @tylertringas, @shreyas, @sajithpai, @galaxyRTK, @parkerhendo, @SheckyGreen, @MylesDanielsen, and @saxena_puru for some of my favorites from Q1. https://abs.twimg.com/emoji/v2/... draggable="false" alt="🙏" title="Gefaltete Hände" aria-label="Emoji: Gefaltete Hände">" class="img-responsive" style="max-width:100%;"/>
11/
I wrote. A lot. A little over 135K words.
(NB: S-1 Club and RFS both bring in other contributors. It would be more accurate to say I edited or wrote that many words. This is the beauty of the "multiplayer media" model. I probably wrote 100K.)
I wrote. A lot. A little over 135K words.
(NB: S-1 Club and RFS both bring in other contributors. It would be more accurate to say I edited or wrote that many words. This is the beauty of the "multiplayer media" model. I probably wrote 100K.)
12/
The premium-only articles have been getting strong engagement and positive feedback. Great!
I& #39;m especially excited as to how I& #39;m building a library of business breakdowns. This is an accumulating asset, helping make membership ever-more valuable.
The premium-only articles have been getting strong engagement and positive feedback. Great!
I& #39;m especially excited as to how I& #39;m building a library of business breakdowns. This is an accumulating asset, helping make membership ever-more valuable.
13/
I& #39;m really excited by everything that& #39;s happening. But there have definitely been some critical lessons.
https://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Rückhand Zeigefinger nach unten" aria-label="Emoji: Rückhand Zeigefinger nach unten">
I& #39;m really excited by everything that& #39;s happening. But there have definitely been some critical lessons.
Lesson 1: Focus.
Instead of launching a bunch of new stuff, I& #39;ve doubled-down on what& #39;s working.
Instead of launching a bunch of new stuff, I& #39;ve doubled-down on what& #39;s working.
Lesson 2: Building was the right call...
I& #39;m glad I didn& #39;t go paid on Substack, but building brings its own challenges for sure.
(My stack is @webflow, @pico, @ConvertKit, @CircleApp, @zapier, FYI).
I& #39;m glad I didn& #39;t go paid on Substack, but building brings its own challenges for sure.
(My stack is @webflow, @pico, @ConvertKit, @CircleApp, @zapier, FYI).
Lesson 3: Articulate value better
I& #39;m doing a bad job of outlining some key premium benefits: exclusive content, and an incredible private community.
I& #39;m doing a bad job of outlining some key premium benefits: exclusive content, and an incredible private community.
Lesson 4: Say no to fun things
Thank you to @paulg for his article "Maker& #39;s Schedule, Manager& #39;s Schedule."
I was finding my focus disrupted by midday meetings — his piece provided a valuable reframe that I& #39;ve stuck to.
http://www.paulgraham.com/makersschedule.html">https://www.paulgraham.com/makerssch...
Thank you to @paulg for his article "Maker& #39;s Schedule, Manager& #39;s Schedule."
I was finding my focus disrupted by midday meetings — his piece provided a valuable reframe that I& #39;ve stuck to.
http://www.paulgraham.com/makersschedule.html">https://www.paulgraham.com/makerssch...
Lesson 5: Sponsors are collaborators
I& #39;ve set a very high bar for sponsors. I& #39;m grateful to have gotten to work with @rmandal at @futurefitapp and @BobCasey at @TegusHQ.
Not every sponsor takes the time to really understand what you& #39;re building. Grateful for those mentioned.
I& #39;ve set a very high bar for sponsors. I& #39;m grateful to have gotten to work with @rmandal at @futurefitapp and @BobCasey at @TegusHQ.
Not every sponsor takes the time to really understand what you& #39;re building. Grateful for those mentioned.
Lesson 6: Community is magic
Seeing awesome people like @AnnikaSays, @EliKamerow, @VicKalchev, @BeauroyreMax, @divine_economy connect via The Generalist gets me so pumped.
Seeing awesome people like @AnnikaSays, @EliKamerow, @VicKalchev, @BeauroyreMax, @divine_economy connect via The Generalist gets me so pumped.
This is just the beginning.
I am trying to build the most thoughtful tech community and publication on the planet.
I& #39;d love to have you join the journey.
https://www.readthegeneralist.com"> https://www.readthegeneralist.com
I am trying to build the most thoughtful tech community and publication on the planet.
I& #39;d love to have you join the journey.
https://www.readthegeneralist.com"> https://www.readthegeneralist.com
Join more than 33,000 believers here https://www.readthegeneralist.com/ ">https://www.readthegeneralist.com/">...
Also, inspiration for this thread was taken from the amazing @lennysan who has really lead the way.
I recommend following him and checking out his wonderful work.
I recommend following him and checking out his wonderful work.
