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Thinking About Starting a Newsletter - Am I 10 Years To Late?

by mikemac1
5 replies
Alright, I have a hobby my family and I have enjoyed for many years. Now I know when you get involved in IM, everyone says to do something you know, but I really enjoy this hobby and never wanted to make it feel like "work."

But I was wrong, this hobby is huge and people who are involved pay big money to do it, so it's time for me to wake up and get going.

All weekend I've been thinking about a recurring product involving this niche, I've narrowed it down to a forum or newsletter, with me leaning towards a newsletter. The reason is because I've been checking out Thrillist, etc., and their model would fit nicely.

But I wanted to get the opinions of you Warriors because I'm still not sold on how best to monetize.

If anyone has an existing newsletter, forum or membership-type site based on a hobby instead of IM or making money related, I'd really like to hear your opinion and any advice.
#forum #hobby #late #newsletter #niche #starting #thinking #years
  • Profile picture of the author rickkettner
    It's never too late to break into a market, especially if you are passionate about it. The fact that the market is already competitive is actually a good thing. It means that there is almost certainly some money to be made. The fact that you have passion for the topic also means that you have a unique edge over some competition.

    I would start by providing a free service. Get an aweber account going, and accept new subscribers for free to start. Use this start to learn more about your customers, ask them what they want, and perfect your service.

    Then, transition to a pay model... grandfathering in current members at a discounted rate (or even leaving them at "free"). Alternatively, you can stay free and make money by affiliate promoting products and services within your niche (or even selling your own). It all depends on the market, but those are a few general ideas.
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  • Profile picture of the author mikemac1
    @rickkettner - thanks for the reply, I like the "free to paid" transition advice, that's what I would like to do, I have good experience building list (especially in another niche) but I was just wondering how easy it is to monetize, especially a newsletter.
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  • Profile picture of the author Bayo
    Never too late.

    I offer my offline local business clients a good old newsletter and it does well. It also leads them to my online site where I want them to end up in the first place

    Stay with the model. It's evergreen!
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  • Profile picture of the author mikemac1
    @Pete Egeler - Thanks for the advice, I am considering eventually charging for a subscription to the newsletter but also charging advertisers for some placements and you're right, I want the adverts being supported but not making it appear like I'm not being objective.
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