1/ This is what so many smart investors got wrong about the newsletter space.

They only focused on CACs. Yes, newsletters acquire some subs via paid marketing.

But the ongoing relationship with your customer makes 10-100xing LTV over time very doable.
2/ At @MorningBrew, we had faith that if we could scale the list and keep our quality, our LTV growth would outpace our CAC growth.

And it did. We've launched:
@Retail_Brew, @etechbrew, @MarketingBrew, @SidekickMB, @bizcasualpod, @FoundersPod, and MANY more products to come.
3/ We will continue to create content that our audience cares about. This will grow LTV even further, which will in turn allow us to acquire more subscribers, even as CACs rise.

3m subs, and we are only getting bigger :)
This is also why B2B/prosumer newsletters like @JayCoDon, @web, and @lennysan have 9 figure potential.

No, their newsletter won't scale to 9 figs, but their relationship with their customers can.

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More from @austin_rief

4 Apr
Someone should explain to him how jobs are created.
The zero sum progressive mindset is toxic - and this is coming from a progressive.
We just printed 3 trillion dollars. Don't tell me the only way to pay for things is corporate taxes.
Read 5 tweets
14 Mar
THREAD: Today is @MorningBrew's 6th birthday.

It has been an incredible journey and I am even more excited for what is to come.

Here are 5 things I've learned so far about running a start-up:
Growth is uncomfortable.

Learn to embrace being uncomfortable - it will make you better.

This goes for both personal and company growth.

If you don't feel uncomfortable from time to time, you probably aren't challenging yourself to grow fast enough.
Increase hiring standards as you grow

In the early days, you often don't have a wide choice of who you can hire, but that changes with time. Take advantage of it

I have never regretted waiting an extra week to find the right candidate, but I have regretted hiring too quickly
Read 7 tweets
25 Feb
Alright Alright Alright. Twitter is launching "Super Follow".

Who would pay for my tweets?
Would you pay?
Thaaats what i thought.
Read 4 tweets
9 Feb
1/ THREAD: @HubSpot's acquisition of @TheHustle is a great example of a niche, vertical media business acquisition.

Here is what that means, why it makes sense, and why it doesn't happen more often.
2/ First off, this trend isn't new. There are a ton of great examples of this:

- Penn x Barstool Sports
- Stripe x Indie Hackers
- Robinhood x Market Snacks
3/ So, why would a software business acquire a media business? 2 main reasons:

1. Owning a top of funnel with a trusted audience
2. Multiple arbitrage
Read 9 tweets
23 Jan
THREAD: Here are 3 common hiring mistakes I've seen when building an early-stage startup.

When hiring early execs, you must ensure they are willing to get in the weeds.

While their title may be CMO, they will have to perform the job of a junior marketer

Too many execs think they're too good to get in the weeds.

Make sure you don't hire someone with that mindset
At launch, you want generalists who can wear many hats.

As you scale, you want specialists who are best in class.

Founders are often too slow to transition from the early generalists to industry-leading specialists

This transition is painful but necessary for future success
Read 6 tweets
18 Jan
THREAD: Here are 10 insights I've learned over the last 5 years from cofounding and selling business.

On startups, investing, marketing, and career advice:

"I learn more from speaking with others than reading" is complete nonsense.

The smartest people in the history of the world have distilled their life's work into a few hundred pages.

No, a 30 minute convo with your buddy won't teach you more.
The best businesses in the world expand their target market

-Nike convinced the world that everyone is an athlete
-Apple convinced the world that everyone is a creator
-Shopify is convincing the world that everyone is an entrepreneur

Champion customers and they will reward you
Read 12 tweets

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