A One-Person Business You Can Start Today (With $0)
Summary
TLDRThis 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
- ๐ผ Starting a newsletter is a potentially lucrative business model that can be done part-time and requires minimal initial investment.
- ๐ฐ 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.
- ๐ Newsletters can be a side hustle or a full-time job, with examples like Axios being sold for over half a billion dollars.
- ๐ The content of a newsletter should be informative, timely, or entertaining, and it should be something the creator is knowledgeable about.
- ๐ง Sending one email per week is recommended to start, with the possibility of increasing frequency as the subscriber base grows.
- ๐ธ Companies will pay to promote their products in newsletters based on the number of readers and engagement rates.
- ๐ High-quality, active readers are more valuable than a large number of inactive subscribers.
- ๐ฌ The speaker recommends using tools like Beehive to automate the process of finding sponsors and placing sponsored posts in newsletters.
- ๐ The tool Revamp can be used to quickly generate newsletter content by selecting sources and writing styles.
- ๐ Growing a newsletter subscriber base can be done organically through social media platforms like Reddit, where high-value content can attract viewers and subscribers.
- ๐ 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.
Outlines
๐ผ The Power of Newsletters for Passive Income
This paragraph introduces a surprisingly lucrative business model: starting a newsletter. Despite its simplicity, it's described as an effective and underrated way to generate significant income online. The speaker shares personal experiences, highlighting how they made over $7,000 in their first month and grew to substantial earnings over time. The model is particularly appealing for those with limited time due to its low maintenance requirements. The speaker also mentions the success of others, such as Cody and Alex, who achieved even greater financial success through newsletter monetization. The key to success is creating valuable, high-quality content that readers look forward to, which can then be monetized through sponsorships and promotions.
๐ Monetizing Newsletters and Growing Subscriber Base
The second paragraph delves into the specifics of monetizing a newsletter and strategies for growing a subscriber base. The speaker discusses the use of tools like 'revamp' for creating content quickly and 'beehive' for automating the process of finding sponsors and placing sponsored posts. The importance of quality over quantity in subscribers is emphasized, with the speaker explaining how even a small but engaged audience can be highly valuable. The paragraph also covers a strategy for growing a newsletter through Reddit, utilizing lead magnets and Facebook ads to attract subscribers. The speaker shares the success of their own newsletter, 'wgmi', which grew to 75,000 subscribers primarily through these methods.
๐ Scaling Newsletter Success with Consistency
The final paragraph wraps up the discussion by emphasizing the potential for significant financial success through consistent effort in newsletter creation and management. The speaker encourages viewers to follow the strategies outlined in the video, suggesting that with dedication, one could even sell their newsletter for millions of dollars. The paragraph concludes on a motivational note, urging viewers to take action and start their own newsletter journey, highlighting the linear relationship between time invested and subscriber growth, which in turn translates to increased income.
Mindmap
Keywords
๐กBusiness Model
๐กMonetization
๐กNewsletter
๐กScalability
๐กLead Magnet
๐กContent Creation
๐กSubscriber Growth
๐กSponsored Post
๐กEngagement
๐กRevenue Streams
๐กBeeHive
๐กReddit Strategy
Highlights
A simple yet lucrative online business model is presented, which can generate thousands to millions of dollars with minimal weekly effort, making it ideal for those with full-time jobs.
The model is free to start and involves monetizing through newsletters, which can be surprisingly profitable as demonstrated by the sales of platforms like Axios.
The speaker's media company made over $7,000 in the first month of newsletter monetization, with one partner earning $600,000 per month and another over $75 million.
Newsletters are a weekly or daily email with news, updates, or content related to the subscriber's interests, serving as an educational or entertaining resource.
Choosing a niche for the newsletter is crucial, with the advice to select a topic the creator is already knowledgeable about to ensure consistent high-quality content.
Newsletter monetization begins with a few thousand subscribers, where companies pay for product promotions to the newsletter's audience.
The quality of newsletter readers is more valuable than the size of the subscriber list, emphasizing the importance of active and engaged readers.
An example is given where a creator earns $55,000 per email sent to his list, illustrating the potential income from a well-engaged audience.
BeeHive is introduced as a tool that automates the process of finding sponsors and placing sponsored posts in newsletters, simplifying monetization.
Revamp is another tool mentioned for quickly creating newsletter content by saving ideas and customizing them with selected writing styles and angles.
A strategy for growing a newsletter without spending money involves leveraging Reddit for organic growth by posting valuable content in relevant subreddits.
BeeHive's Boost feature allows creators to earn money by recommending other newsletters to their subscribers, providing an additional income stream.
A detailed explanation of using Facebook ads with lead magnets to grow a newsletter list is provided, including the cost-effectiveness of this method.
Lead magnets are discussed as a strategy for attracting subscribers by offering something of value in exchange for their email address.
The potential for selling a newsletter for millions of dollars is mentioned, highlighting the long-term value of building a high-quality subscriber base.
Consistency and effort in newsletter creation and growth are emphasized as key to increasing income over time.
The video concludes with encouragement to follow the steps outlined and to be persistent in newsletter creation for potential significant financial rewards.
Transcripts
there's a boring business model that can
make you thousands or even millions of
dollars and it's an extremely underrated
way to make money online it's completely
free to start and only takes a few hours
of work per week making it one of the
best oneperson business models out there
right now especially if you already have
a job that takes up most of your time on
our very first month of monetizing we
made over
$7,000 it makes Cody
$600,000 per month and it made Alex over
$75
million I haven't told anyone about this
some of you might not be happy that I'm
exposing this on YouTube so that's me in
2022 on my media company's first team
meeting and I asked a crazy question how
are we going to make money you should
start a i blinked a those are old
besides there's no way you can make
money from that a few weeks went by and
while I was busy being a big shot
YouTuber my partner was quietly working
on the behind my back
and at the end of the first month
nothing I knew the business was a scam
but then by the third month I was
shocked our bank account had
$4,000 in it and it kept going up let me
show you what this magic money printer
is because I think it might surprise you
I'm talking about starting a newsletter
it's not exactly the sexiest business
but it's definitely one that just works
and with newsletters like axio being
sold for over half a billion dollars
just last year this side hustle can turn
into a very lucrative full-time job but
that's only if you're willing to put in
the work here at wgmi we went from 0 to
75,000 subscribers in 6 months so in
this video I'm going to be sharing every
tactic we used so you can start monetize
and grow your newsletter as fast as
possible even if you're starting
completely from scratch a newsletter is
simply a weekly or daily email sent by a
person or business containing news
updates or any type of content related
to what you signed up for people will
read your newsletter to learn new things
stay up Tod dat on Trends or even to
just entertain themselves for a few
minutes there really is no right answer
on deciding what Niche to pick but it's
best to pick a niche you already know
about so you don't really have to learn
anything new even if it's really obscure
if you like it I guarantee you there are
other people who will like reading about
it so the best Niche is what ever you
can make highquality content on week
after week you should aim to have such
valuable emails that your readers are
actually looking for your newsletter
every time they open their inbox I just
recommend sending one email a week and
then building from there because the
more emails you send the more money you
make once you have a couple thousand
subscribers other companies will happily
pay you a lot of money to promote their
products to your readers just like how
people advertise on Facebook or Google
companies will pay you based on how how
many eyeballs you can get on their
product but it's not just about the size
of your newsletter it's about the
quality of your readers and how many
people are reading week after week so
even if you have a small following it
doesn't matter because having
highquality active readers is 10 times
more valuable than a big list of people
who never open your emails Oli for
example he makes $55,000 for every email
he sends to his list for me starting an
email newsletter was one of the best
decisions I've made in my life as a
Creator and now every time I send an
email I make around $5,000 which is more
than I was making in a whole month of
working full-time as a doctor and just
so you guys know what one of these
Partnerships looks like here's a snippet
of one of our most recent Partnerships
that we charged $1,200 for to get
sponsorships like this we used to have
to send cold Outreach emails and send
them to a landing page that listed our
subscribers open rates click rates and
testimonials like this we had a
full-time salesperson doing this but now
thanks to beehive we don't have to using
beehive beehive you no longer have to
worry about finding businesses to
sponsor your newsletter or doing any of
the setting up because beehive is now
just like Google ads they automatically
place the sponsored post at the bottom
of your newsletters they make the entire
process seamless which means you just
have to sit back let the ads run and
collect your money it's literally never
been easier to monetize a newsletter so
I recommend taking advantage of this as
soon as possible writing a newsletter
does take a lot of time you're going to
have to come up with ideas is you're
going to have to do research and you're
going to have to write the thing but let
me show you how we write ours in under
30 seconds with this tool called revamp
so with revamped all we do is save our
ideas from across the internet whether
it's a YouTube video a tweet or an
article we just have to copy and paste
the link and it saves it into our
account now to create our newsletter all
we have to do is Select those sources
and then choose the writing style choose
the length and then choose the angle so
it knows exactly what we want to talk
about then once both of those sections
are added we just hit create newsletter
and voila we have a brand new piece of
original content now if we want to
customize it we hit the ghost writing
tool then we'll just highlight the text
we want to change then we will prompt
that individual selected text to make
this shorter now that the change has
been made we just click insert and it
automatically updates so last thing we
need to do is send this out through
beehive so I'll hit export I'll hit copy
as Rich text and then just paste it into
the Beehive editor and it's perfectly
formatted with no changes needed so this
is a tool that my business partner built
for us and now we're opening it up to
the public with our limited beta so if
you want to get access and try it out
I'll leave a link down below but how can
you get people to join your newsletter
quickly without spending any money this
strategy got us millions of views and
tens of thousands of upvotes on Reddit
and if you couple our Reddit strategy
with Beehives boost then you're going to
grow your list faster than anyone while
getting paid you heard that right you
can grow your list and and get paid to
do it using beehives boost section you
can make money just for recommending
other people's newsletters it's like
when you follow someone on Instagram and
then they recommend other accounts to
follow except with newsletters when
someone subscribes to your list a popup
will display other recommended
newsletters and for every single person
that signs up to those recommended
newsletters the Boost program pays you
$1 to $2 we use this exact feature at
wgmi to get over 10,000 of our
subscribers completely for free here's
how it works step one we run a Facebook
ad with our lead magnet which gives away
100 free AI business ideas step two
people click on the ad and are sent to a
landing page where they can enter their
email in return for the lead magnet step
three a popup appears that recommends
other newsletters and for every person
that subscribes to a recommended
newsletter we get paid around $1 to $2
the Facebook ad costs us around 80 cents
per newsletter subscriber but we make
that money back through the
recommendations in other words we grow
through Facebook ads completely for free
oh and here's the exact Facebook ad
here's the exact lead magnet and here's
the exact landing page we use I'll leave
that down below with everything else at
wgmi we grew our newsletter to 75,000
subscribers and 80% of those subscribers
came through lead magnets but
essentially a lead magnet is a way of
getting people to subscribe to your list
by giving away something they want in
return for their email there are a lot
of ways to grow organic techically you
can join Facebook groups in your Niche
you can post on Twitter you can make
short form content like Tik Tok or
Instagram reals and if you provide
enough value in your content people will
naturally check out your newsletter and
want to get your lead magnet if you're
trying to get your first 500 to 1,000
subscribers Reddit is going to be your
best friend you don't know what Reddit
is it's basically like a collection of
Forums on every topic in the world
imaginable interested in wedding
planning here's a subreddit with 338,000
people or maybe you have a question
about your car here's a subreddit with
1.2 million people so Reddit is perfect
for finding your target audience AKA
people who might be interested in your
newsletter and it's by far one of the
easiest places to get hundreds of
thousands of people to view your content
completely for free our first post on
Reddit got over 600 up votes over
100,000 views and led to around 100
subscribers all because of one post
which you can see right here since I
want to help you guys as much as
possible I'm going to explain our exact
Reddit strategy that's helped us grow
faster than any newsletter out there
first find subreddits around your
desired topic so just search your Niche
and go to the communities Tab and then
read their rules carefully to make sure
that you're allowed to post a link
promoting your newsletter then create a
high value piece of content so you can
make a post on any tips tricks or a
breakdown of recent news in the industry
whatever you think will get views side
note Reddit hates anything that sounds
commercial so try to make your post
sound as personal as possible instead of
saying here are the top 10 tips for
copywriters say something like I spent
three years as a copywriter before
becoming a Content writer and I still do
some copy jobs on the side here are 10
tips I learned along the way then be
very subtle about plugging your
newsletter make it sound very personal
and Casual you could say something like
if this was helpful it would mean a lot
if you subscribe to my newsletter I love
researching and writing about the stuff
and I share everything I find in my
newsletter I'm going to leave four
examples of our posts in the description
of this video so you can kind of see how
we word things and hopefully you can
take some inspiration for yourself so
hopefully you see the value of starting
a newsletter it took me way too long to
start my own this is the perfect way to
make some extra income whether you have
a job whether you're in school whatever
it may be just write about your
interests and over time it will really
grow linearly the best thing about the
newsletter business is you get out what
you put in so if you have more time to
spend on focusing on growth you're going
to get more and more subscribers which
means your income is just going to grow
linearly with that so follow the steps
in this video be consistent and maybe
one day you can sell your newsletter for
millions of dollars and I'm not kidding
when I say that that's how crazy this
business model is but everybody have a
wonderful day and I'll see you in the
next
one
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