Grow AND monetize

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Yesterday, I teased the fact that last Thursday,

• I made money and gained subscribers,

• Without sending an email,

• While eating a 40 oz Wagyu tomahawk ribeye.

Not sorcery. Just Email Magic.

Let’s carve it up. But first…

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Alright, let’s dig in.

Growth. Monetization.

Most people think that audience growth must come before monetization.

Some version of:

“Jab, jab, jab, right hook.”

or

“Give it away for free, then charge for the reorder.”

But this does not always work.

In fact, building an audience or email list for too long without monetization can be a massive mistake. I’ll share why in a moment.

First, let’s get uncomfy.

The reason we delay the first sale is usually fear.

Fear of rejection.

Fear of embarrassment.

Fear of failure.

And it’s true, creating something that no one wants is painful. Especially if the failure is public.

What we don’t realize is that baking monetization INTO growth INCREASES the chances of success and DECREASES the chances of failure.

How?

Audience Quality.

Think about it. Do you want a bunch of email subscribers, or do you want an email list of people who buy things?

(You can see what I wrote about limp Big Lists last month here.)

Hint- real businesses need people who buy things.

Here’s the bottom line: by giving immediate buyers a chance to buy, while still honoring eventual buyers, you get real-time feedback about the quality of the list you’re building.

An easy way to do this, and the method that made me some money last Thursday, is by offering a paid Premium subscription.

You see, I offer a Premium version of this newsletter for $9.99 per month, or $99.99 per year.

I rarely talk about it or advertise it, but people who click around on my emails and website eventually find the upgrade page.

I’ve structured the offer so that for the right people, it is easily worth 10 times more than I charge.

Therefore, as new people find this free newsletter, some of them find their way to the Premium version and happily subscribe.

The revenue from those subscriptions goes back into paid acquisition, so that I am gaining new subscribers all the time.

(And growing, engaged newsletters get offers to run sponsored ads, like the one at the top of this newsletter. The opportunities stack.)

To recap:

Growth. Monetization.

Each one feeds the other. Why would you only focus on one at a time and inadvertently starve off your greatest source of fuel?

Besides, getting Stripe notifications in between mouthfuls of ribeye is a great feeling.

In your corner,

Greg

P.S. If you need help with either growth or monetization, feel free to reply to this email and I’ll do my best to help you out free of charge.

P.S. Premium Subscribers, I’ve got one more email for you this week. I need to share the trick to attracting the right people to your list, and remind you of the number one thing you must do to turn all of your eventual buyers into actual buyers. Keep an eye out for that one on Friday.