I FOUND a Business That Can Make You $2,700 Per Day (Not What You Think)

Jason Lee
17 Jul 202310:52

TLDRThe video script discusses the profitability of email blogging or newsletters, highlighting its potential to generate significant income quickly. It emphasizes the high conversion rates of newsletters compared to social media and the low cost and ease of starting a newsletter business. The speaker shares various monetization strategies, such as brand sponsorships, affiliate marketing, ad networks, and premium subscriptions. Tips for content creation and audience growth are provided, along with a recommendation for using automation tools like Beehive for efficiency. The importance of offering valuable content and irresistible freebies to attract subscribers is stressed, encouraging viewers to consider email newsletters as a lucrative and sustainable business model.

Takeaways

  • 🚀 Email blogging or old-fashioned newsletters are highly profitable businesses with potential to earn thousands or millions in a short time.
  • 📈 Newsletters are considered safe businesses for any market condition and have proven successful cases with significant earnings.
  • 📧 A newsletter is an audience list built to generate income, and its effectiveness is proven by high conversion rates compared to social media platforms.
  • 💰 The open rate for email newsletters is significantly higher than the average reach for Facebook posts, making it a more effective marketing tool.
  • 🎯 Starting a newsletter requires no initial investment and low friction compared to other platforms like YouTube or Instagram.
  • 🏠 You own your audience list in a newsletter, unlike social media platforms where the audience belongs to the platform.
  • 🌐 Newsletters can be monetized in various ways, including brand sponsorships, affiliate marketing, ad networks, and premium subscriptions.
  • 🔄 Cross-promotion with other newsletters can be an effective strategy to grow your audience quickly.
  • 🎁 Offering an irresistible freemium or ethical bribe can entice people to subscribe to your newsletter, providing value and quick wins.
  • 📈 The potential to earn from newsletters is vast, and with a strong community, there are numerous ways to monetize and scale your business.

Q & A

  • What is the most profitable business discussed in the transcript?

    -The most profitable business discussed is email blogging or old-fashioned newsletters.

  • How much did one individual make in a month according to the transcript?

    -One individual made $320,000 in a month.

  • What is the primary purpose of building a newsletter audience?

    -The primary purpose of building a newsletter audience is to make millions of dollars from it once it reaches a certain size.

  • How much money did the speaker make from sending an email compared to their previous full-time job as a doctor?

    -The speaker made around $5,000 from sending an email, which is more than they made in a whole month working full-time as a doctor.

  • What is the average open rate for an email newsletter?

    -The average open rate for an email newsletter is 25%.

  • Why is email considered to have a better ROI than social media platforms like Facebook and Instagram?

    -Email has a better ROI because it has a higher conversion rate and open rate. People have given explicit permission to be on the list and tend to trust and open emails more than they engage with social media posts.

  • What are some ways to monetize a newsletter?

    -Ways to monetize a newsletter include brand sponsorships, affiliate marketing, running ads, and charging for premium newsletters.

  • How did Sean Pourri grow his newsletter audience to 250,000 in one year?

    -Sean Pourri grew his audience by curating crypto news from other sources, delivering it in a fun and casual way, and consistently providing value to his readers.

  • What tool is recommended for automating and scheduling newsletters?

    -The tool recommended for automating and scheduling newsletters is Beehive.

  • What is the term used in the transcript to describe a valuable offer that encourages people to subscribe to a newsletter?

    -The term used is 'irresistible freemium' or 'ethical bribes'.

  • What should an irresistible freemium offer contain according to the transcript?

    -An irresistible freemium offer should contain three things: it should solve a problem, be high value, and provide a quick win.

Outlines

00:00

🚀 The Profitable World of Email Newsletters

This paragraph introduces the lucrative potential of email blogging or old-fashioned newsletters. It highlights the success stories of individuals who have made significant income, even reaching millions, within short timeframes. The speaker emphasizes the safety and profitability of this business model in any market condition. The paragraph also dispels common misconceptions about newsletters being boring, and instead, presents them as highly profitable and effective tools for audience engagement and monetization.

05:02

📈 High Conversion Rates and Ownership in Email Marketing

The second paragraph delves into the effectiveness of email newsletters compared to social media platforms. It cites a study by Mackenzie that shows newsletters have a higher conversion rate and open rate compared to Facebook and Instagram. The speaker explains that having an email list is like owning an asset that can be monetized in various ways. The paragraph also discusses the benefits of starting a newsletter, such as low cost and effort, and the control over the audience that is not present on social media platforms like YouTube or Instagram.

10:04

💰 Diverse Monetization Strategies for Newsletters

This paragraph outlines the different ways to earn money from newsletters, including brand sponsorships, affiliate marketing, ad networks, and premium subscriptions. The speaker provides concrete examples and potential earnings for each strategy. It emphasizes the recurring and predictable nature of these income streams and encourages the audience to consider starting a newsletter as a means to build influence and generate revenue.

📝 Content Ideas and Growth Strategies for Newletters

The fourth paragraph discusses strategies for finding content ideas and growing a newsletter's audience. It encourages writers to choose topics they are passionate about and suggests various ways to start, such as using social media or joining relevant Facebook groups. The speaker also introduces the concept of 'collabs' or cross-promotions with other newsletter creators to rapidly expand the subscriber base. The paragraph concludes with a tip on using 'irresistible freemiums' or 'ethical bribes' to entice people to subscribe to the newsletter.

🎯 Bonus Tips for Accelerating Subscriber Growth

The final paragraph offers a bonus tip for increasing newsletter sign-ups by providing valuable and enticing offers that solve problems, have high value, and deliver quick wins. The speaker shares a strategy of offering a free guide on ethical bribes as an example and encourages the audience to download it. The paragraph ends with a call to action for those interested in learning more about monetizing newsletters and a challenge to the audience to start their own newsletter to capitalize on the potential for significant earnings.

Mindmap

Keywords

💡Profitable Business

The term 'Profitable Business' refers to a commercial venture that generates more income than its expenses, resulting in a net profit. In the context of the video, it highlights the potential of email blogging or old-fashioned newsletters as a highly profitable business model, capable of earning significant amounts of money in a relatively short period of time, as exemplified by the mentioned individuals who achieved substantial earnings from their newsletters.

💡Email Blogging

Email blogging, also known as old-fashioned newsletters, is a form of direct communication with a curated audience through electronic mail. It involves sending regular updates, content, or information to a list of subscribers who have opted to receive these communications. In the video, the speaker emphasizes the effectiveness and profitability of email blogging as a business model, contrary to its common perception as a mundane practice.

💡Conversion Rate

Conversion Rate is a metric used to measure the efficiency of a marketing campaign or a business model by calculating the percentage of subscribers or viewers who take a desired action, such as making a purchase or signing up for more information. In the video, it is mentioned that newsletters have a higher conversion rate compared to social media platforms like Facebook and Instagram, indicating their effectiveness in driving customer engagement and sales.

💡Audience List

An Audience List refers to a collection of individuals who have agreed to receive communications from a particular source, such as a newsletter or a blog. It is a crucial component of email blogging, as the size and engagement of this list directly impact the profitability and reach of the content being shared. The video emphasizes building an audience list with the goal of monetizing it once it reaches a significant size.

💡Low Friction

Low Friction refers to a business model or process that involves minimal effort, complexity, or barriers to entry. In the context of the video, the speaker highlights the low friction nature of email blogging compared to other platforms like YouTube or TikTok, where creating content can be more time-consuming and technically challenging.

💡Ownership

Ownership, in the context of the video, refers to the control and authority one has over their audience and content. Unlike social media platforms where algorithms and rules can change, with a newsletter, the creator owns the list and has direct access to their audience, which is not subject to the whims of platform policies.

💡Monetization

Monetization is the process of generating revenue from a product, service, or asset. In the video, it is discussed in relation to various ways one can earn money from their newsletter, such as brand sponsorships, affiliate marketing, ad networks, and premium subscriptions.

💡Brand Sponsorships

Brand Sponsorships involve partnerships between a content creator and a company, where the company pays the creator to promote their products or services to their audience. In the context of the video, once a newsletter has a substantial subscriber base, the creator can attract brand sponsors and charge a fee for each sponsored email sent out to their audience.

💡Affiliate Marketing

Affiliate Marketing is a performance-based marketing strategy where a business rewards one or more affiliates for each customer brought by the affiliate's own marketing efforts. In the video, the speaker explains that by including affiliate links in a newsletter, creators can earn a commission on products or services that their subscribers purchase through those links.

💡Premium Newsletter

A Premium Newsletter is a paid subscription service where subscribers pay a recurring fee to access exclusive or additional content not available in the free version. This model offers creators a steady revenue stream and allows them to provide more in-depth or specialized information to their audience.

💡Irresistible Freemium

An Irresistible Freemium, also known as an ethical bribe, is a high-value offer provided to potential subscribers to entice them to join a newsletter or mailing list. It should solve a problem, be of high value, and provide a quick win that delivers immediate benefits to the subscriber.

Highlights

Email blogging or old-fashioned newsletters are considered one of the most profitable businesses.

A person made $320,000 a month and another made a million dollars in their first six months starting in 2022 through email newsletters.

A 25-year-old made $75 million in five years with newsletters.

Newsletters are considered safe businesses for any market condition.

A newsletter is an audience list built to make millions when it reaches a certain size.

Email newsletters have a higher conversion rate than social media platforms like Facebook or Instagram.

The average open rate for an email newsletter is 25%, whereas the average reach for a Facebook post is around 6%.

Email newsletters are free to start and have low friction compared to starting a YouTube channel or similar.

With a newsletter, you own your audience, unlike on social media platforms where the audience is not truly yours.

Newsletters are an asset that can be monetized in a million different ways.

Brand sponsorships can be a significant source of income for newsletters with a substantial subscriber base.

Affiliate marketing through newsletters can yield high commissions, especially for high-ticket items.

Running ads on your newsletter is another monetization strategy, similar to ad networks on websites.

Creating a premium newsletter with a monthly fee is a way to monetize by offering extra value to the audience.

Choosing a topic you care about is essential when starting a newsletter.

Curation of content from other sources can be a valid approach to starting a newsletter, as demonstrated by Sean Pourri's success.

Using automation tools like Beehive can help manage and schedule newsletters efficiently.

Social media and Facebook groups can be leveraged to start building an audience for your newsletter.

Collaborations with other newsletter creators can help grow your subscriber base significantly.

Offering an irresistible freemium or ethical bribe can entice people to subscribe to your newsletter.

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