Some things I've learned about the newsletter'ing life, so far πŸ‘‡
1/ It's really easy to start a newsletter. It's very hard to keep it going.

The key to keeping it up, at least for me, is (1) being genuinly curious and energized about the topic, (2) having a broad enough topic to keep it novel, and (3) having consistent time to write.
2/ Optimize for a topic YOU'RE excited about, not what you think other people will be excited about.

This is so important. It's the reason I went against the classic advice of finding a single focused niche. I would have been so bored thinking all day about just one thing.
3/ Above all else, the one thing you have to get right is to *provide value to your readers*.

If your newsletter isn't clicking, it probably means it just isn't valuable enough. What's something you can do to increase the concrete value for a reader?
4/ What separates OK work from great work is simply the time to write.

I'm nowhere near the smartest or most experienced person in any of the topics I write about. But I have the luxury of time – to research, to refine, to think. If you have time, you have a big advantage.
5/ The single biggest lesson I've learned about better writing: cut, cut, cut.

Read through your work many times and find more things you can cut. Also, make it easy to skim. Imagine your readers drunk, stumbling through the post.

This book is everything amazon.com/dp/B0090RVGW0/…
6/ Time spent outside of the content is rarely worth it.

Running ads, optimizing the website, growth hacks – not a good use of time.

If the content is valuable it'll mostly grow itself (i.e. people will share it). This is why Substack is great – you can focus on the writing.
7/ Speaking of Substack, build on a platform where you are collecting email addresses and can take them anywhere.

I started on Medium, and it was great for a while, but most of the upside goes to Medium. And if you leave, you're starting over.

8/ Don't take positive feedback about your writing for granted.

Even if it wasn’t what you planned to be doing, if people seem to consistently find value in your writing, and you enjoy it, don’t take this for granted. Keep at it and see where it takes you.
9/ Also, don't take your own experience, knowledge, and insights, for granted.

You’d be surprised by how much you know that other people don’t, and how much value you can provide by sharing what feels basic and obvious to you.
10/ Always strive to add something new to the conversation

It may seem like everything has been written about, but
(1) that's not true, and (2) if it has, it's rarely great. What's a unique take, insight, or framing you can add?
11/ Writing isn't for everyone

If you're much more energized by speaking, you should do a podcast or video. I'm much more suited for writing (I need time to think, refine, crystalize). Find what energizes you.
12/ There are real downsides to doing newsletter'ing full-time

The self-employed life has a lot of downsides. It's tough to get good health insurance, no time off, no benefits of any kind. Also, turns out it's hard to get a mortgage.

Things you learn after the fact.
13/ But there are also tons of upsides

The flexibility, the excuse to learn, and most importantly the feeling that you're helping people become better at what they do. Hard to beat.
14/ There's never been an easier time to experiment

Never in a million years did I imagine I'd be writing a newsletter, especially as a source of income. This only happened because it was easy to try it out. Tell people you're tinkering, try it, and see where it takes you ✨

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More from @lennysan

13 Nov
Every week, @KiyaniBba pulls together the best conversations from our subscriber Slack community into a weekly "Community Wisdom" email, synthesizing the best advice from the community. This week's email was SO good. Some highlights in the thread below πŸ‘‡
lennyrachitsky.com/p/-community-w…
1/ Running monthly business reviews
2/ Does the startup grind ever end
Read 8 tweets
12 Nov
Update: If you are *not* a product manager but work closely with PMs (e.g. eng, designer, PMM, etc.) could you also take this survey?

This will let us to see how PMs see their role vs. non-PMs, at the same company.

P.S. Please share the survey – the more data we get the better!
Over 400 responses already, how fun!
Thank you so much to everyone who's RT'd this and/or shared the survey with colleagues ❀️
Read 5 tweets
11 Nov
πŸ™ ASK: If you are a Product Manager at a big tech company, can you take this quick survey (<3 mins)?

I'm looking into how the PM role differs across companies. If you take the survey you'll get the results first.

Please RT so that we can get more data
lennysan.typeform.com/to/uXQI1tFD
We're already at over 100 responses πŸ“ˆ

Let's keep it going! Some suggestions:
1. If your team has a PM Slack channel, can you share the survey there?
2. If you're in Blind, consider posting a link
3. If you have PM friends at other companies, share the survey with them

Go team!
A peek at some early results Image
Read 5 tweets
3 Nov
10 nuggets of wisdom about pricing strategy pulled from @Patticus's epic guest post last week, including how much to discount, when to consider freemium, the impact of design on price, whether to end your price with a 9 vs. 0, value props, and much more

Read on πŸ‘‡
1/ You should localize your pricing to the currency and willingness to pay of the prospect's region

βœ”οΈ Revenue per customer is 30% higher when you just use the proper currency symbol
βœ”οΈ Having different price points in different regions increases revenue per customer further
2/ Freemium is an acquisition model, not a part of pricing

βœ”οΈ Think of freemium as a premium ebook driving leads, not another pricing tier
βœ”οΈ Don't do freemium until you truly understand how to convert leads to customers
βœ”οΈ Paid users who convert from free tend to be better
Read 12 tweets
27 Oct
πŸ’₯ New post πŸ’₯

How to Price Your SaaS Product, by @Patticus

Inside:
βœ”οΈ The 2 foundational elements of pricing strategy
βœ”οΈ Determining what axis to price on
βœ”οΈ Plug-and-play templates
βœ”οΈ Tons of examples
βœ”οΈ Bonus advice

Summary in thread below πŸ‘‡
lennyrachitsky.com/p/saas-pricing…
1/ Last month I asked y'all who the smartest person on pricing is
2/ Many suggestions came though but one name came up again and again: @Patticus

With the slightest of prods, Patrick agreed to write a guest post answering a question I've received almost more than any other: How do I price my SaaS product?

What follows is Patrick's advice πŸ™Œ
Read 23 tweets
20 Oct
Early-stage bottom-up SaaS founders – this thread is for you

Below πŸ‘‡
πŸ”¬ Most important metrics to track
πŸ›  Tools to track these metrics
🎨 How to best visualize and share these metrics
1/ πŸ”¬ What metrics should early-stage bottom-up SaaS founders focus on?

✨ Pre-revenue ✨

1. Retention:
βœ” User: % of new users who are still active 3-6 months later
βœ” Logo: % of new companies who are still active 3-6 months later
βœ” L7/L30: # of days that users are active
2/ Virality within an organization:
βœ” Invite rate: % of new users who sent at least one invite in the first X days
βœ” Invite conversion rate: % of users who receive an invite that sign-up in the next X days
βœ” Virality factor: % of new users who have come from an invite
Read 15 tweets

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