Why I’ve started a newsletter (and why you should too).

GM 👋

If you’re a Web3 entrepreneur that feels lost on where to get started. This episode is for you.

Too many people are starting tech platforms, building NFT projects and funnelling their energy into businesses that are going to be a 5 year grind and may never get anywhere.

But there is a business that you can start that is linear, predictable and can grow from a side project into a fully fledged business in under a year.

As you’ve guessed from the title, that business is a newsletter.

🧱 Why I started one:

For me, the decision was simple. I found myself spending 2 hours per week on calls with emerging Web3 entrepreneurs, helping guide their strategy so that they could find their success in this space faster than I did.

This was a personal passion, but I always asked myself “How could I do this at a greater scale?”

At the same time, I was also spending 15+ hours per week in Twitter spaces sharing the story behind our project Bricktopians (usually 1.5 hours per space).

So I thought to myself 🤔

”Hmm, what if I took the 2 hours I normally spend with individual entrepreneurs, and 1.5 hours that I’d spend in a space, and put that time into reaching 1,500+ people all at once?”

Naturally, this newsletter was born.

But if you’re reading this, you probably don’t have your own NFT project to share. So why should you care about starting a newsletter?

Well…

🏆 Why you should start a newsletter

Let’s start with the numbers.

Crypto / NFT newsletters pay between $50 - $100, per 1,000 people, per email.

Most newsletters start as a weekly newsletter which means that:

At 1,000 subscribers = $50 - $100 per 3.5 hours

At 2,000 subscribers = $100 - $200 per 3.5 hours

At 5,000 subscribers = $250 - $500 per 3.5 hours

At 10,000 subscribers = $500 - $1,000 per 3.5 hours

At 20,000 subscribers = $1,000 - $2,000 per 3.5 hours

Notice how the amount of time spent per newsletter stays the same, but your earnings multiply. This is called leverage, and it’s the heart of how you need to think about every business that you create.

Once you hit 20,000 subscribers, you could be earning $570 per hour.

(Or as I call it, more than an investment banker).

But that’s not the best part…

Where the real opportunity comes in is if you grow it to 20,000+ subscribers, switching the newsletter from a weekly newsletter to a daily newsletter (5x per week).

Let’s look at those numbers again in a daily format:

At 1,000 subscribers = $250 - $500 per week

At 2,000 subscribers = $500 - $1,000 per week

At 5,000 subscribers = $1,250 - $2,500 per week

At 10,000 subscribers = $2,500 - $5,000 per week

At 20,000 subscribers = $5,000 - $10,000 per week

You can see that the numbers get VERY big VERY quickly.

“Okay that’s great Alex… I would love a newsletter with several thousand subscribers, but how do I grow it?”

Don’t worry, I’ve got you.

🚀 Growing your newsletter

Okay so, I’m going to go into deeper detail on the “ins and outs” of what I’m about to describe in a future edition of this newsletter. But for now, I’ll give you the introduction.

Twitter threads are a superpower, and if you master them, you will grow unlike anyone else in the Web3 space.

All you need to do to grow your newsletter is write Twitter threads on NFTs, and simply tag it at the end of your thread.

Some threads will perform well, others won’t. And you won’t be able to predict which will be which. But the great thing is, when you hit big, you can get 100 subscribers in an instant.

My quick advice on how to write high growth threads:

• Take a story from the day and summarise it in 10 tweets or less (follow Elena to keep up to date on the latest stories)

• Don’t write an essay. This isn’t school, you don’t get bonus points for big words or long paragraphs. Cut up your sentences and explain it to someone like you were telling a friend.

• Push yourself to write 4 threads per week. I started my journey by writing 100 threads in 100 days. What I learnt from this was that having challenging deadlines that force you to be efficient breaks the cycle of being a perfectionist and makes you get more content out than you’re comfortable with. (The repetitions and consistency make you get better faster than reading any guide ever will).

🤔 So what should you write about?

Well… that’s up to you. But the beautiful thing is that at the beginning and at low subscriber numbers you can experiment, change and evolve until you find what works for you.

For someone with no experience or special knowledge of the space, I would recommend choosing 3 major stories from the week in the NFT space, and make them easy to digest in conversational language.

📈 Advantages of starting a newsletter vs other businesses

You may still want to start another business.

And there are heaaaaaps of opportunities that I’ll share alpha on to get you started in future episodes. But if you’re on the fence and you want to know why I so strongly recommend starting a newsletter, this is it:

Advantages: 

The Numbers: As you can see above, a newsletter can give you an INSANE return on your time invested as it scales. Most entrepreneurs overcomplicate their business. With a newsletter you can have a clear path to your goals as a Web3 entrepreneur.

Simplicity: No hiring staff, no apps to develop, just you and your keyboard. As one person you can turn yourself into a thriving business that rivals most Web3 consultancies.

Lifestyle: This comes with simplicity. It is a business that can be run from anywhere without the need for in person meetings or local relationships.

Linear Growth: If you make a tech platform that grows rapidly, you have to work your ass off to keep users engaged or they will leave. A newsletter (for the most part) is linear, like building a following. You can predictably observe its growth, and are less likely to have the negative surprises that most business owners worry about.

Can start as a side hustle: There is no pressure to succeed immediately. Some will grow rapidly, others will take time. But you don’t need to quit your job to get started. All you need is 3.5 hours per week, and some spare time to create organic content in a schedule that works for you.

🤝 The Endgame: Selling your Web3 newsletter business

If there is one piece of advice you take from this thread, this is it…

Don’t name your newsletter after your personal name. Build it as a separate brand. (Notice how the name of this newsletter is Grow Faster not Alex is Building.)

You may have no intentions of selling your newsletter now, but one day you might. And if it’s named after you, you can’t sell yourself. But you can sell a brand.

So how much can a newsletter sell for?

Well, to go back to the numbers:

At a 3x - 5x multiple on yearly profit of the upper range (this would need to factor in the cost of a writer, but we’ll go with the raw numbers for now)

At 1,000 subs = $13,000 - $26,000 per year = $78,000 - $130,000 sale

At 2,000 subs = $26,000 - $52,000 per year = $156,000 - $260,000 sale

At 5,000 subs = $65,000 - $130,000 per year = $390,000 - $650,000 sale

At 10,000 subs = $130,000 - $260,000 per year = $780,000 - $1,300,000

At 20,000 subs = $260,000 - $520,000 per year = $1,560,000 - $2,600,000

Through linear hard work and organic content, you could turn a side hustle into a multi-million dollar business.

The best part is that this business can be profitable from day 1, and pay you as you grow the value of the equity in the brand.

Good luck, and if you ever need help, always feel free to message me on Twitter.

― Alex

Hey, thanks for reading ❤️

I’ve been in blockchain for 8 years, ETH since $45 and have consulted to some of the worlds biggest brands on Web3 and NFTs (including the NBA).

Now, I work 24/7 to grow my project Bricktopians and help emerging entrepreneurs find their place in Web3.

If you want to be a part of what I’m building you can find out more at the links below.