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Competition is overrated. You can have dozens of newsletters focussing on the same topic. But people will gravitate to yours because yours may be the first they discover, they may really enjoy your style or they may personally resonate with your story. Theres room for multiple people discussing the same thing.
- Will Lawrence, Product Life
Will started Product Life after listening to the podcast series by Naval Ravikant on “How to Get Rich Without Getting Lucky”.Â
The core idea was that to be really free to do what you want, you need wealth. Naval defines wealth as things that make money while you sleep.
One way to build wealth is to “productize yourself”.Â
Will is a product manager now and his impact is limited to the teams he can directly influence.Â
But through his newsletter, his ideas can be used to influence countless teams around the world. While this isn’t creating wealth for Will (yet), it is creating value for him while he sleeps.Â
In the future, he plans to add in products, services and perhaps a community to monetize his newsletter newsletter.
Here’s Will’s advice for growing a newsletter by writing from personal experience and contributing to niche communities:
On advice for creators starting out: Find a community and start contributing to it. If your niche is the film industry, go into the relevant subreddit and comment on large posts. Then, start to share your content into those subreddits. This is what I did for product management.
On why he writes from personal experience: I actually don’t research a ton. I tried this one week and tried to do a think piece (something you would see from a VC on Twitter) and it was not 1) fun to write, 2) well-received.
On competition being overrated: You can have dozens of newsletters focussing on the same topic. But people will gravitate to yours because yours may be the first they discover, they may really enjoy your style or they may personally resonate with your story. Theres room for multiple people discussing the same thing!
I actually don’t research a ton. I tried this one week and tried to do a think piece (something you would see from a VC on Twitter) and it was not 1) fun to write, 2) well-received.
I now just write from my personal experiences. This saves me time, yes, but it also lets me deliver on my core value propositions: real advice from someone doing the job.
Here’s my process:
Additionally:
I've doubled down on the content that led to the most shares and repeat visitors. In my world, that was product management templates and processes.
Find a community and start contributing to it. If your niche is the film industry, go into the relevant subreddit and comment on large posts. Then, start to share your content into those subreddits. This is what I did for product management.
I generally write to myself. I personally find this easier and it allows me to write about things that I think are interesting. This has the neat affect of attracting other people like myself(PM at tech company) rather than me trying to grow in an area that I don't resonate with.
I think paid is not the right monetisation model for most people (myself included). It makes it harder for new people to find and latch on to your content and also limits the transaction to a monthly fee like $10.
I’m much more excited about using the newsletter as a free entry point. I think you can do higher value products — ex. Consulting, courses or software — and then launch them to your community afterwards.
It’s nothing scientific, but I just think ask myself, “What’s something cool I did at work recently?”
Podcasts on starting your own business(Indie Hackers and My First Million are the faves), exploring how communities are designed and crypto.
Optimism about the future, belief in my abilities and a love of food.
Most difficult part: Seeing weeks at a time where your subscriber growth is essentially flat. My experience is that growth is largely “hits driven” — one amazing article will propel growth more than five OK ones.
Surprising: people like things that are more personal to my life than professional. This is related to…
Do differently: not focussing on the things I think I should write about. I thought I had to talk about strategy and current events like all the content I saw on Twitter. This was boring for me and not nearly as fun as talking about my own stories, challenges or lessons from my own job hunt.
Two ideas:
Its mostly PMs with 2-4 years of experience at both small and large tech companies. They skew towards pretty experienced and are looking for practical tools/stories to help them grow.
Be careful: a following on medium is not nearly as valuable as a newsletter email base.Â
I had 600 followers on Medium, published a story and got 50 something views in the first week. Creators should always aim to have a direct link to their followers (i.e. emails) to minimize being dependent on distribution algorithms!
There's no silver bullet - this is a really tough feeling that I have more often than I'd like to admit.
I aim to congratulate myself for just "showing up" and writing that week. Even if the piece falls flat, I continued to strengthen my writing habit and have likely learned something from the experience. No piece is ever truly a waste.