🧠 A Newsletter Ad Agency
A Newsletter You Need to Read + 30 Second Spark Notes - Biggest Business Story of 2023
1. Business idea of the Week: Newsletter Ad Agency
Newsletters are a great business model.
Building one takes a lot of work, but the business model is simple.
Choose a topic → Get Subscribers → Sell ads (or charge subscribers).
And there’s big money in the newsletter game.
Morning Brew sold a majority stake in their company for $75 million.
All from a newsletter…
But selling ads is a major pain for small newsletter creators.
Finding, pitching, and managing sponsors can be a full time job. And most newsletter creators just want to focus on writing.
So let’s help them out.
The idea: Create a newsletter ad agency that finds and manages newsletter sponsors for newsletter creators.
This will be an “eat what you kill” type of business where you’ll make a commission on every deal you close.
But this also takes the risk off of the newsletter creator, since they only pay when you bring them sponsors.
For example, you can charge a 20% commission on every deal you close. If you sell a $5K/week sponsorship, you’d make $1K/week from that deal.
This will involve selling newsletter creators on using your service, and selling companies on sponsoring the newsletter.
The first step is to find newsletters that are large enough for companies to advertise on, which likely means at least 1K+ subscribers (can be less if it’s a niche category).
Once you’ve got your first newsletter interested in working with you, you’ll need a media kit to pitch to companies. A media kit should include stats like number of subscribers, typical subscriber info (age, gender, location, interests, etc.), and as rates.
Once you’re ready to start pitching, you’ll want to reach out to companies that are trying to reach the newsletter’s audience.
A newsletter about running → reach out to running shoe companies.
A newsletter about accounting → reach out to accounting software companies.
You get the point…
This idea can be a very lucrative agency or even just a side hustle. It all depends how much time and effort you put into it.
2. A Newsletter You Need to Read
Are you trying to grow your newsletter or interested in starting one?
Growth Currency is a weekly newsletter that helps you you start, grow, improve, and monetize your newsletter.
If you’re looking to get into the newsletter game in any way (like the idea of the week), this newsletter is a must.
Click here to subscribe to Growth Currency (it’s free!)
*3 ideas on Sunday is an affiliate of Growth Currency and will make an affiliate commission when you sign up using our link.*
3. 30 Second Spark Notes - Biggest Business Story of 2023
Billions of dollars evaporated overnight and millions of people defrauded.
Many are comparing this to the Lehman Brothers collapse of 2008… but it might be worse.
So what happened?
Here’s what you need to know in 30 seconds:
Sam Bankman-Fried is the founder and (former) CEO of FTX. Sam owns FTX (a crypto exchange) & Alameda Research (a crypto hedge fund).
Sam’s girlfriend runs Alameda Research, and took a massive loss earlier this year.
Instead of coming clean and announcing that Alameda blew up their fund, Sam loaned Alameda Research funds that belonged to FTX users (highly illegal).
This means that FTX no longer had the money that users deposited on their platform, because it was loaned out to Alameda Research (to trade with).
This week, “CZ” (CEO of Binance, the #1 crypto exchange) got word of this, and announced that he’s planning to dump $2 billion of the FTX token (held by Binance).
This caused everyone to freak out, and start withdrawing their funds from FTX.
But FTX doesn’t have the funds….because Alameda is trading them.
FTX is now in-trouble, but the CEO of Binance announces they’re looking to buy (aka save) FTX. But after looking at FTX’s balance sheet… they say “no thanks”.
FTX then proceeds to file for bankruptcy and Sam steps down as CEO.
This story is still unfolding and we’e getting new updates by the minute.
Here’s two new updates:
Sam had a “back door” built into FTX’s accounting software, allowing him to withdraw funds without alerting staff.
Someone (probably Sam) hacked the FTX wallet and stole $600 million.
Sam is now on the run, taking a private jet to Argentina.
We’ll have to keep watching to see what happens next.
But one thing’s for sure. Jonah Hill’s needs to play Sam when this movie comes out…
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