Chapter 1: The Surprising Rise of Substack

When I launched my Substack newsletter, I was taken aback by the immediate response. My initial four posts garnered a total of 116 likes, 16 comments, and 6 restacks.

In just a week, I accumulated 21 subscribers. If you're a writer active online, you've likely encountered Substack, a platform competing with major players like ConvertKit. While opinions vary widely, I decided to explore its capabilities firsthand.

The Early Adoption Advantage

Reflecting back to 2009, the introduction of Bitcoin revolutionized the financial landscape. Many who invested early on experienced significant financial gains, and there are still individuals who lament missing that opportunity.

What parallels exist between Bitcoin and Substack? It's simple: early adopters gain a substantial edge. Instead of cryptocurrency, the advantage here lies in organic reach—an asset that can convert into attention and potential revenue. This appeal is why numerous writers have opted for Substack newsletters. While maintaining their primary newsletters on platforms like ConvertKit, they couldn't overlook the benefits of utilizing a burgeoning platform. Some creators even choose to promote their newsletters exclusively within Substack.

Harnessing the Discovery Feature

Upon posting my first note, I was pleasantly surprised to receive five likes and three comments almost instantly. This is one of Substack's key features: its integrated social network allows for organic growth of your newsletter audience.

Starting from scratch with zero followers, my content still reached potential subscribers effectively. My initial four notes amassed impressive engagement—116 likes, 16 comments, and 6 restacks. Remarkably, 18 of my 21 new subscribers came directly from Substack within my first week. With the competition still manageable, this platform offers a unique opportunity, unlike starting anew on Twitter or Medium.

The Cost-Effective Solution

Unlike other newsletter platforms, which often impose fees based on subscriber count, Substack remains completely free regardless of your audience size. Previously, I was paying $15 monthly for ConvertKit, soon to escalate to $29 as my needs grew. Substack takes a modest 10% of your earnings from paid subscriptions. For instance, if you charge $5 per month, you would retain approximately $4. For those publishing free content, there are no costs involved.

Real-Time Feedback Mechanism

One of Substack's less apparent advantages is the immediate feedback loop it provides. Readers can like, share, and comment on your newsletters, offering insights into what content resonates with them. Additionally, you can integrate share buttons, enabling your audience to easily spread your content.

Rethinking Revenue Models

With Substack, your newsletter evolves into a product itself. The platform introduces diverse monetization methods for writers, including the ability to create paywalled content. This flexibility allows you to enhance the value of subscriptions by offering perks such as:

• Courses
• Coaching calls
• Live workshops

There are numerous creative avenues to augment subscriber value.

Acknowledging the Limitations

However, it's important to note that Substack does have its drawbacks. It lacks several essential email marketing features found in its competitors, such as automated email sequences. Initially, I hesitated to make the switch because I relied on a free five-day email course to attract subscribers. Ultimately, I realized my existing content could already provide substantial value to new subscribers, mitigating my concerns about leaving behind the email course. I then transitioned that content into a Notion database to offer as a complimentary resource for newcomers.

Conclusion: Is Substack Worth It?

Despite its limitations, Substack is a platform worth considering for your writing endeavors. With lower competition, you can achieve organic reach without the pressure of producing extensive daily content.

What are your thoughts? Is making the move to Substack a wise decision?

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The first video, "You Shouldn't Start a Newsletter in 2024?!", provides insights into the potential pitfalls and considerations of launching a newsletter in today's landscape.

The second video, "Substack is the BEST Newsletter Platform for Beginners", discusses why Substack stands out as an excellent choice for new writers looking to establish their newsletters.