A One-Person Business You Can Start Today (With $0)

Summary

This video script reveals an underrated online business model: starting a newsletter. It's a low-effort, high-reward venture that can generate thousands to millions with minimal weekly work. The speaker shares their journey from skepticism to success, showcasing how newsletters can become lucrative full-time jobs. The script offers tactics for monetization, growth, and the use of tools like Beehive for seamless sponsorships. It also details strategies for organic growth, including leveraging Reddit and lead magnets, ultimately emphasizing the potential for significant income and business growth through consistent effort.

Takeaways

• 💼 Starting a newsletter is a potentially lucrative business model that can be done part-time and requires minimal initial investment.
• 💰 The speaker's media company made over $7,000 in its first month of monetizing a newsletter, and it has grown to make significant income for others.
• 📈 Newsletters can be a side hustle or a full-time job, with examples like Axios being sold for over half a billion dollars.
• 📚 The content of a newsletter should be informative, timely, or entertaining, and it should be something the creator is knowledgeable about.
• 📧 Sending one email per week is recommended to start, with the possibility of increasing frequency as the subscriber base grows.
• 💸 Companies will pay to promote their products in newsletters based on the number of readers and engagement rates.
• 🔍 High-quality, active readers are more valuable than a large number of inactive subscribers.
• 💬 The speaker recommends using tools like Beehive to automate the process of finding sponsors and placing sponsored posts in newsletters.
• 📚 The tool Revamp can be used to quickly generate newsletter content by selecting sources and writing styles.
• 🌐 Growing a newsletter subscriber base can be done organically through social media platforms like Reddit, where high-value content can attract viewers and subscribers.
• 🔗 Utilizing lead magnets, such as free resources or information, can incentivize people to subscribe to a newsletter.

Q & A

What is the business model discussed in the video script?

The business model discussed is starting a newsletter, which is an online method to make money that requires minimal initial investment and can be managed alongside a full-time job.

How much money was made in the first month of monetizing the newsletter business model mentioned in the script?

In the first month of monetizing, they made over $7,000.

What is the potential income for someone like Cody who is successful with this business model?

Cody is reported to make $600,000 per month from the newsletter business model.

How did the speaker's partner work on the newsletter business model without the speaker's initial knowledge?

The partner worked quietly behind the scenes while the speaker was busy with other activities, and by the third month, they had made significant earnings.

What is the significance of newsletters in the context of the script?

Newsletters are presented as a valuable and potentially lucrative side hustle that can be turned into a full-time job, with examples of successful sales like Axios being sold for over half a billion dollars.

What is the recommended frequency for sending newsletters according to the script?

The script recommends sending one email a week and then building from there.

How does the script suggest monetizing a newsletter?

Monetization can come from other companies paying to promote their products to the newsletter's readers, based on the size and quality of the subscriber base.

What tool is mentioned in the script for creating newsletters quickly?

The tool mentioned is called 'revamp,' which allows users to save ideas from the internet and create newsletters with selected sources, writing styles, and angles.

How does the 'beehive' platform assist in monetizing newsletters?

BeeHive automates the placement of sponsored posts at the bottom of newsletters, making the monetization process seamless and requiring minimal effort from the newsletter creator.

What is the 'Boost' feature on BeeHive and how does it work?

The 'Boost' feature allows users to earn money by recommending other newsletters to their subscribers. For every new subscriber to a recommended newsletter, the creator earns a commission of $1 to $2.

How did the speaker's team grow their newsletter to 75,000 subscribers in 6 months?

They used a combination of tactics including lead magnets, Facebook ads, and a Reddit strategy to attract and engage subscribers.

What is the role of a lead magnet in growing a newsletter?

A lead magnet is something valuable given away to potential subscribers in exchange for their email address, which helps in growing the subscriber list.

How does the speaker describe Reddit as a tool for growing a newsletter?

Reddit is described as a collection of forums on various topics, making it an ideal place to find a target audience and promote content for free, which can lead to newsletter subscriptions.

What is the speaker's advice on posting content on Reddit to promote a newsletter?

The advice given is to find relevant subreddits, read their rules, create high-value content, and make the post sound personal rather than commercial, subtly plugging the newsletter.

What is the potential outcome of successfully growing and maintaining a newsletter according to the script?

The potential outcome includes a growing subscriber base and income that can increase linearly with the effort put into the newsletter, and possibly selling the newsletter for millions of dollars.