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 highlights the profitability of email blogging or newsletters as a business model, emphasizing its safety and potential for high earnings. It shares success stories of individuals who made significant income through this method. The video explains the concept of a newsletter, its advantages over social media for direct audience engagement and conversion rates, and how it can be monetized through brand sponsorships, affiliate marketing, ad networks, and premium subscriptions. It also offers practical advice on starting a newsletter, including choosing a topic, using automation tools, and growing an audience through social media and collaborations. The video encourages viewers to start their own newsletter for potential financial success.

Takeaways

  • 🚀 Email blogging or old-fashioned newsletters is a highly profitable business model with potential to earn thousands or millions in a short time.
  • 📈 The individual success stories mentioned in the script highlight the profitability of newsletters, with one person earning $320,000 in a month and another making a million in six months.
  • 💰 Newsletters are considered safe businesses to have in any market condition due to their direct connection with the audience.
  • 📧 A newsletter is essentially an audience list built with the purpose of generating revenue, and can replace a full-time income when it reaches a certain size.
  • 📈 Newsletters have a higher conversion rate compared to social media platforms, with an average open rate of 25% for emails versus only around 6% for Facebook posts.
  • 🎯 Starting a newsletter is free and low friction, unlike other platforms like YouTube or TikTok which may require equipment and editing skills.
  • 🏠 You own your audience with a newsletter, unlike on social media platforms where you're building on rented land.
  • 💼 A newsletter is an asset that 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 subscriber base, especially when you have a smaller audience.
  • 🎁 Offering an irresistible freemium or ethical bribe can entice people to subscribe to your newsletter, by providing high-value solutions to their problems with quick wins.

Q & A

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

    -The most profitable business model discussed in the transcript 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 through email blogging or newsletter business.

  • What is the potential earning in the first six months for someone starting this business?

    -A person who started this business made a million dollars in their first six months.

  • How much did a 25-year-old reportedly make in five years with this business model?

    -A 25-year-old reportedly made $75 million in just five years with this business model.

  • Why is email blogging or newsletters considered one of the safest businesses to have?

    -Email blogging or newsletters is considered one of the safest businesses because it can generate income regardless of market conditions and it's not dependent on the volatility of social media algorithms.

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

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

  • Compare the reach of an email newsletter to a Facebook post with 10,000 subscribers or followers.

    -With 10,000 email subscribers, an email newsletter would reach 2,500 people, whereas a Facebook post with 10,000 followers would likely be seen by just 600 people.

  • What are some advantages of starting a newsletter business?

    -Some advantages include low cost to start, low friction, owning your audience, and the ability to monetize in various ways.

  • How can one monetize a newsletter?

    -Monetization methods include brand sponsorships, affiliate marketing, ad networks, and premium newsletters with subscription fees.

  • What tool is recommended for automating and scheduling newsletters?

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

  • What is the strategy for growing a newsletter audience from scratch?

    -One can start by using personal social media, join relevant Facebook groups, and eventually use call collabs with other newsletter creators for cross promotion.

  • What should an irresistible freemium or ethical bribe offer to attract newsletter subscribers?

    -An irresistible freemium should solve a problem, be high value, and provide a quick win for the subscriber.

Outlines

00:00

🚀 The Profitable World of Email Newsletters

This paragraph introduces the lucrative potential of email blogging or old-fashioned newsletters. It shares success stories of individuals who have made significant income, even millions, in short periods through this business model. The speaker emphasizes the safety and profitability of email newsletters in any market condition. The paragraph also explains what a newsletter is - an audience list built for profit and how it can generate substantial income once it reaches a certain size. The speaker shares their personal experience of earning more from a single email than their previous full-time job as a doctor. The video promises to reveal why the speaker loves this business model, how to start it, and various ways to make money from it, even with zero audience. It also highlights the power of email marketing over social media, citing a study by Mackenzie that shows newsletters have higher conversion rates and open rates compared to platforms like Facebook and Instagram.

05:02

🌟 Monetizing Your Newsletter: Strategies and Tips

The second paragraph delves into the various methods of monetizing a newsletter. It starts by discussing brand sponsorships, where a newsletter with a sizable audience can attract brands willing to pay for exposure. The speaker shares a friend's success with a dog-themed newsletter and how it generates significant income from brand deals. Affiliate marketing is the next strategy discussed, where newsletters can include affiliate links and earn a commission on products purchased through these links. The paragraph also talks about ad networks and premium newsletters that charge a subscription fee for exclusive content. The speaker encourages the audience to consider creating a premium newsletter if they can offer extra value. The paragraph concludes with a call to action for the audience to engage with the content and offers to provide further insights on reaching out to brands and running the business on autopilot.

10:04

📈 Growing Your Audience and Irresistible Offers

The final paragraph focuses on strategies for growing the newsletter audience and creating irresistible offers to attract subscribers. The speaker suggests starting with personal social media and leveraging Facebook groups to find and engage with potential subscribers. The concept of 'collabs' or cross-promotion with similar newsletters is introduced as a sophisticated method to grow the audience. The speaker emphasizes the importance of providing value first to gain followers. The paragraph also shares a bonus tip on using 'irresistible freemiums' or 'ethical bribes' to entice people to subscribe. These offers should solve a problem, be high value, and provide a quick win. The speaker provides an example of such an offer and encourages the audience to share their interest in learning more about making money with newsletters.

Mindmap

Keywords

💡Profitable Business

The term 'Profitable Business' refers to a commercial venture that generates a significant income or profit over a relatively short period. In the context of the video, it highlights the potential of email blogging or old-fashioned newsletters as a highly lucrative business model, capable of earning substantial amounts of money, such as the examples given of individuals earning hundreds of thousands to millions of dollars within months or years.

💡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 that subscribers have opted to receive. In the video, the speaker emphasizes email blogging as a safe and profitable business model, contrasting it with the volatile nature of social media platforms.

💡Audience List

An 'Audience List' refers to a collection of subscribers or followers who have consciously chosen to receive updates or content from a particular source, such as a newsletter or blog. The video underscores the value of building an audience list for the purpose of monetization, as it forms the basis for earning significant revenue once it reaches a certain size.

💡Conversion Rate

The 'Conversion Rate' is a metric used to measure the effectiveness of a marketing campaign or a business model, representing the percentage of subscribers or viewers who take a desired action, such as making a purchase or signing up for more information. The video script cites a study by Mackenzie that found newsletters have a much higher conversion rate compared to social media platforms like Facebook or Instagram.

💡Low Friction

The term 'Low Friction' refers to the ease and simplicity with which a task or process can be initiated and carried out, with minimal obstacles or complications. In the context of the video, the speaker describes email blogging as a low-friction business model because it requires less effort and resources to start and maintain compared to other platforms like YouTube or TikTok, which might involve camera work, scriptwriting, and editing.

💡Owning the Audience

Owning the audience means having direct control and access to one's customer base or subscribers, which is crucial for building a sustainable business. The video emphasizes the importance of owning your audience through a newsletter, as opposed to building it on social media platforms where the rules and algorithms can change, potentially affecting the creator's reach and income.

💡Asset Monetization

Asset monetization refers to the process of generating income from valuable assets or resources at one's disposal. In the video, the speaker discusses how a newsletter can be considered an asset that can be monetized in various ways, such as through brand sponsorships, affiliate marketing, ad networks, and premium subscriptions, providing multiple revenue streams for the creator.

💡Brand Sponsorships

Brand sponsorships involve partnerships between a business and a content creator where the business pays the creator to promote their products or services to their audience. In the context of the video, the speaker explains that once a newsletter has a substantial subscriber base, the creator can approach brands for sponsorship deals, earning significant income for each sponsored email sent out.

💡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 marketing efforts. The video describes how newsletter creators can earn commissions by including affiliate links in their content, which pay out when readers click on these links and make purchases.

💡Email Automation

Email automation refers to the use of software to remove repetitive manual processes involved in sending out emails, allowing for the scheduling and batching of email newsletters. The video recommends using an automation tool like Beehive to streamline the newsletter creation and distribution process, saving time and effort for the creator.

💡Irresistible Freemium

An 'Irresistible Freemium' or 'ethical bribe' is a high-value, problem-solving offer provided to potential subscribers at no cost, designed to entice them into subscribing to a newsletter or service. The video emphasizes the importance of providing such an offer to give people a compelling reason to join the email list, ensuring it delivers quick wins and high value.

Highlights

Email blogging or old-fashioned newsletters are highlighted as highly profitable businesses.

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

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

Newsletters are considered one of the safest businesses in any market condition.

A newsletter is an audience list built with the purpose of making millions once it reaches a certain size.

An average email newsletter earns around $5,000, which is more than what was made working full-time as a doctor.

Email newsletters have a higher conversion rate than social media platforms like Instagram, TikTok, and YouTube.

Newsletters have an average open rate of 25%, whereas the average reach for a Facebook post is around 6%.

Email lists provide explicit permission from subscribers, leading to higher trust and engagement.

Building an audience on social media platforms is compared to building on rented land, whereas a newsletter audience is owned by the creator.

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

Brand sponsorships can generate significant income, with some charging between $3,000 to $5,000 per email.

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

Running ads on newsletters is another monetization method, similar to ad networks on websites.

Premium newsletters that charge a monthly fee are common in niches like investment, where creators share their portfolios and picks.

Consistency in newsletter creation and delivery is emphasized, and using tools like Beehive can help with automation and scheduling.

Cross-promotion with similar newsletters can help grow the subscriber list significantly.

To attract subscribers, offering an irresistible freemium or ethical bribe that solves a problem, is high value, and offers a quick win is recommended.