We invited Lenny Rachitsky, creator of Lenny's Newsletter, to host a workshop on how to launch a paid newsletter. Read on for Lenny’s learnings around how he grew his early subscriber base, why he decided to launch paid subscriptions, and specific tactics for going paid.
The numbers you give don't add up. If you're grossing $65k You would need to be getting$130 per subscriber at 550 paid subscribers, which you stated you had. Your payment plan is also ignored. And then what you net isn't specifically stated - just "~60%." 40% is a BIG cut. How is that itemized? Because you state you spent months of time and hundreds of hours getting that. Because you're paying $40k, which is a ton of money to be handing other people for your work.
This article is to allure people into spending countless hours thinking they might be able to make money by writing on Substack. People that may not have much business sense. But if you would bother to outline your figures, I think this article would yield a much different, and disappointing, story.
There are some really helpful and informative tips. Growth takes time, don't be afraid to try.
I found this Article very useful. Thanks.
Wow, a stellar post. Big thanks to Lenny, and the transcript too! So much value.
Great advice - thank you Lenny 🙏🏾
The numbers you give don't add up. If you're grossing $65k You would need to be getting$130 per subscriber at 550 paid subscribers, which you stated you had. Your payment plan is also ignored. And then what you net isn't specifically stated - just "~60%." 40% is a BIG cut. How is that itemized? Because you state you spent months of time and hundreds of hours getting that. Because you're paying $40k, which is a ton of money to be handing other people for your work.
This article is to allure people into spending countless hours thinking they might be able to make money by writing on Substack. People that may not have much business sense. But if you would bother to outline your figures, I think this article would yield a much different, and disappointing, story.
Thanks for this post!
As someone brand new starting out, this is gold. I'm so grateful to have found this🙏🌟 Thank You!
Make me focus on what I hope to accomplish with my Substack. Thanks
Thanks
Thank you for your great insight into paid writing. It really helped me to keep going.
Michael Sisson - MICHAEL'S NEWSLETTER July 20
Thanks for sharing your experience! Good stuff
This is brilliant thank you for the inspiration to keep going. I'm due to send out week 3 later today
Great post. Helpful in thinking all of this through. Thank you.
Very amazing reading for me. I want to share this post on my movie review blog of https://lookmovie.io/
Really Helpful
This video opens up with a comment about a Slack community for Substack writers. Could you please post the link?