Would you rather have 100,000 email newsletter subscribers growing 15% a year ✉️
OR
1 million followers on Twitter growing 50% a year? 📶
For me, I would 1000% take the email subscribers.
That seems insane. Read on to find out why... 👇
The best businesses are impenetrable to competitors 🏰
Nobody gets to dictate how they operate other than the government 🙅
And they are invulnerable to competition, have a captive customer base, and control all key inputs of their business...
Social platforms are the opposite:
1. There's always an algorithm filtering your content from your audience. A post may only be seen by 5,000 followers, even if you have 1MM if the algorithm doesn't deem it worthy... 🤯🤯🤯
2. You are in a constant knife fight with competitors. Millions of people tweet similar things to you on a daily basis and if their tweets win out in the algorithm, you get drowned out...
👯🤼🧑🤝🧑👯🤼🧑🤝🧑
3. Like optimizing for Google SEO, the algorithm can suddenly change and your posts can be de-prioritized or miscategorized. It's a black box. And you'll never know what happened...
4. You can be de-platformed depending on the policies, which seem to change frequently. Something as simple as a targeted group of bots reporting you can get you kicked off, with limited recourse. Boom, loud speaker gone!...
5. At any given time any of this can change on a dime as the platform changes its business model, bows to political pressure, etc... 👮
Email, on the other hand:
1. Direct line to your audience's inbox 📩
2. Free and open decentralized protocol that can't be taken away 🌿...
3. 100,000 subscribers = direct line to 100,000 people's inboxes at the very moment you send the email instead of being at the mercy of algorithms....
The ultimate, of course, is to use social media algorithms to your advantage, increasing your organic reach massively, then converting those followers to safer means of communication like email.
It's a double edged sword, and like anything, you want to be diversified 😉
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For 15 years, we have owned @metalab, one of the world's top product design agencies - metalab.com
As our work became well known, we got a lot of attention...
And we started getting mobbed by potential buyers.
Usually private equity and big tech companies...
We didn't necessarily want to sell.
Maybe just take some chips off the table.
We loved the business, but the numbers they shared were exciting.
Then, over and over, we would realize that the buyer would ruin our culture, piss off our employees, and probably wreck our brand...
For years, we watched as many of our best competitors and friends sold their agencies in talent acquisitions to big tech companies or large conglomerates like WPP, Omnicom, and Publicis.
There is one book I recommend more than any other, and I'm ashamed to share the name...
I swear to god, this is an incredible, well-written, thoughtful book.
It's called 'How To Get Rich' 🤦♂️
It was written by a magazine publishing magnate named Felix Dennis in 2008...
Ignore the title. Seriously. It's great.
He is a character. In the 90's he blew $100MM+ on alcohol and crack cocaine, then become a full-time poet in the early 2000's.
It encompasses most of the important lessons of starting and operating a large business.
Here's a few bits:
Fish where the fish are:
“If you wish to become rich, look carefully about you at the prevailing industries where wealth appears to be gravitating. THEN GO TO WHERE THE MONEY IS!”
I increasingly believe that the only successful approach to productivity is treating yourself like an addict
If you want to stop drinking alcohol, don't keep it in the house 🙅
Here's how I keep myself productive:
1. Clean Out The Cupboards 📱
I use iOS Screen Time to block all social media, news, and yes, EMAIL, from my phone.
I also remove the ability to install new apps.
My wife set the code, so I don't have any easy way to get around it.
2. Add Guiderails 🚆
On my Mac, I have an automation that quits all apps each morning before I get to work and pulls up OmniFocus on the screen, so it's always the first thing I see when I open my computer and can't go down a rabbit trail.
They often consider investing boring and pay a charlatan to manage their money for an absurd fee.
Most investors are bad entrepreneurs.
They are usually overconfident and have no clue of how to actually operate a business.
Operating a business is hard.
It’s easy to look at a business as a spreadsheet or through the lens of strategy decks and KPIs at a board meeting, but in reality a company is a group of people.
People are hard to inspire and drive towards a goal.
On the flip side...
Investing is hard.
It requires decoding all of the silly finance terms that the world uses to obscure relatively simple concepts so that they can charge huge fees.
It also requires the opposite of entrepreneurship: inaction. Sitting on your hands. Waiting...