Advice for monetizing a newsletter?
Hi hackers!
A few months ago, I asked how to monetize my site http://uxtools.co. A simple suggestion was to start a newsletter, which now has over 1000 subscribers. I've also paired it with a blog that nets anywhere from 10k–40k views per post.
Now, I've been approached about sponsorship in my newsletter and blog. I'm not declared as a business, and I've never received transactional money other than through PayPal when freelancing.
So, how do I accept sponsorship and payment without looking clueless?
Edit: I'm in the US.
I've accepted money before (in the US) without incorporating. The main reasons I've incorporated in the past were to to (a) save a small amount on taxes, and (b) avoid liability in case someone decides to sue me.
As for email sponsorships, during my short 6 month stint selling sponsors for the Indie Hackers newsletter, it appeared to be the wild wild west out there. Regardless of who I talked to — 1000-person companies or solo founder startups — the process was very informal and mostly handled over email. So don't worry about looking clueless :-D
Side note: I'm interviewing the guys at ScottsCheapFlights.com, and they've managed to monetize their email freemium style. It's free for most people, but they actually charge a small fee to premium subscribers who get an email with more content. I think it's pretty novel, and not something I've personally seen too often. But based on their revenue it's working quite well.
Thanks, Cortland.
The freemium idea is super interesting. I'll put some thought into how I might be able to make that work for me.
Thanks for the vote of confidence! I'll dive right in and see what happens.
Taylor - email newsletters are kind of my thing. There are tons of insights in that interview with Scott and Brian. I have a class (free) on Skillshare (http://skl.sh/2pmrnWL)that might also be useful background (there are other and better ways to monetize beyond sponsorships). You can also hit me up directly if you have questions. tobin@tobinslaven.com
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We're talking very low amounts of money (for now!) so that shouldn't be a problem. Good to know that I can file it the same as I would file freelance work. Thanks!