#101 Money Mavericks

Maverick Money: A Guide to Beating the Stock Market and Becoming a Financial Maverick

Catchy title right? Well, that's potentially your headline for the first newsletter in your next entrepreneurial startup (hint).

*Shark Tank Intro Music Plays*

"Hey there! Welcome to Maverick Money, the exclusive newsletter for finance newbies and entrepreneurs looking to beat the stock market and become a financial mavericks.

At Maverick Money, we understand that entrepreneurship can be stressful and that you don't always have the time to keep up with everything. That's why we've created this newsletter to be your go-to source for weekly inspiration, guidance, and resources to help you turn your entrepreneurial dreams into a reality.

Our newsletter is designed to provide you with valuable information and strategies for managing your finances, investing in the stock market, and becoming a financial maverick. Whether you're just starting out on your entrepreneurial journey or you're an experienced business owner looking to take your financial knowledge to the next level, Maverick Money has something for everyone.

We know that laughter is the best medicine, so we've also made it our mission to make you laugh with our lighthearted and humorous approach to finance. So join us today and start your journey to becoming a financial maverick!"

What is it

The idea of a paid subscription newsletter is a service in which individuals or businesses provide regular, curated content to subscribers through a newsletter format. Exactly like the one your reading now (expect; this one's free, but we'll get back to that).

Target Audience

The target audience for Maverick Money is individuals, mainly, who are looking for quick and reliable financial updates and strategies. This includes indie hackers, micro entrepreneurs, and small business owners who want to stay informed about the current economic situation and find ways to increase their wealth through investing in the stock market. The newsletter provides valuable insights and techniques for managing finances and succeeding in the stock market, delivered in bite-sized, easy-to-digest pieces.

I'm not a financial advisor!? 

Hey, not me neither. And that goes for CNBC, BCC and even Elon Musk - but people seems to have opinions anyways. How about sharing them?

it's worth noting that there is no one-size-fits-all approach to investing or managing money, and different people may have different approaches and strategies that work for them. As such, your newsletter could potentially provide a variety of perspectives and strategies for subscribers to consider, rather than advocating for a particular approach.

What is an inflation rate? This is a great question which most people can't seem to give a straight answer to. Maybe the answer is pretty obvious? 

The most basic, simple topics is where so many are missing out. Our research concluded with a mind-blowing 70% of all subscription newsletter in the financial industry focuses the intermediate+ segment.

Anyways, it's a exponentially increasing interest for this. Heck, did you now that good old Jerome Powell's speech is becoming as watched as Shark Tank. Mind blowing right?

Fun Fact

Breakdown

Okay, so you get the concept. Now let's talk about what it costs and the tools. Here is a breakdown of what you need to get rolling. Keep in mind that you can always change the cost breakdown to fit your goals or needs:

1. Email marketing platform: This is a tool the main tool which allows you to create, send, and track the performance of your newsletters + get paid. Beehiiv.com is an amazing platform for this. It's free up to 2,500 subscribers, which should give you a good head start.

2. Website: You will likely want a website to host your newsletters and funnel potential leads to. You can use a website builder like Wix or Webflow, depending on your skills. The price is ranges from 10-25 USD per month

3. Domain: Get a domain name so you'll be able to host your emails and website. Finding the perfect domain can be tricky, but trust me, it's less important than you think it is. Creators can sometime get stuck on finding the perfect name, logo or domain. Use no more than 30 minutes, and stick with it. Your time and energy is better served other places.

4. Your creator mind with a hint of AI: This one is free but important, someone needs to pump out quality content right? Subscribe to other newsletter in the finance niche and learn from them. With Chat-GPT getting some attention lately, it can be a pretty helpful too.

Pro tip: Beehiiv gives you a basic landing page which you can use to funnel potential subscribers straight from Twitter for example, saves you some time and money by skipping #2. 

"Fluff"

We dedicate this section to giving the idea a name and some personality (colour). Please, all UI/UX (&) Designers reading this, Mr.Fizzy is not trying to offend you! Branding is everything, but let's be real, most of us without the right background are pretty bad at it - that's why I usually just recommend getting started with something you can live with for now. I mean, have a look at Mr. Fizzy's website. It's not the most pretty thing - but it get's the message across (at least to you). 

Name: Money Mavericks 

Orange: Orange is a vibrant and energetic color that can be effective for attracting attention and conveying a sense of excitement or innovation.

Blue: Blue is often associated with trust, reliability, and stability, making it a popular choice for financial brands.

Success Factors

So, what are the key success factors for a subscription newsletter like Maverick Money? Well, first and foremost, it's all about the content. You've gotta provide high-quality, valuable information that keeps your subscribers coming back for more. But it's not all about the numbers, folks. You've also gotta make it fun. Nobody wants to read a newsletter that's as dry as a desert.

Another important factor is consistency. Your subscribers are counting on you to deliver the goods on a regular basis, so make sure you're putting out newsletters like clockwork. And finally, don't be afraid to get the word out about your newsletter. Marketing and promotion are key to success in the world of subscription newsletters.

So there you have it, the three success factors for a subscription newsletter business: quality content, consistency, and marketing. Now go out there and become the financial maverick you were meant to be!

Challenges and pitfalls

One common challenge is creating and maintaining high-quality content. It can be difficult to consistently come up with new and valuable information to share with your subscribers, and it's important to make sure that you're providing accurate and useful information.

One pitfall to avoid is becoming too salesy or promotional. While it's important to monetize your newsletter and make a profit, your primary focus should be on providing valuable information and resources to your subscribers. If you come across as too promotional, you may lose credibility and drive away potential subscribers.

Finally, it's important to be prepared for the ups and downs of the financial industry. There will be times when the stock market is doing well and times when it's struggling, and it's important to be able to adapt and provide useful information and strategies to your subscribers no matter what the market is doing.

Resources

#My First Million - A great episode with Morning Brew founder Austin Rief. A true breakdown on how successful this model is. MRR!

#The Side Hustle show with Nick Loper - Discover how solopreneur, Danielle Desir, generates 15K+ a year with a paid newsletter.

Scaling and growth

This is the fun part. Imagine all the opportunities!

1. Upsell your subscribers with premium content and resources. Think exclusive webinars, one-on-one coaching sessions, or access to a secret society of financial experts (complete with secret handshakes and code words).

2. Partner with other businesses or industry experts to offer joint products or services. Imagine the possibilities - financial planning and yoga retreats, stock market investing and artisanal cheese tastings, the list goes on.

3. Branch out beyond finance and explore other related topics that may interest your subscribers. Productivity tips, goal setting strategies, personal development exercises - they're all fair game.

4. Use social media and other marketing channels to spread the word and attract new subscribers. And don't forget about email marketing - it's like a virtual hug from you to your subscribers.

So there you have it, some ideas for scaling and growing your subscription newsletter business. With a little bit of creativity and some sheer force of will, you can become the financial maverick to end all financial mavericks.

Closing thoughts

Your paid newsletter Money Mavericks doesn’t need hundreds of thousands of subscribers.

As Kevin Kelly would say, you only need to find your 1,000 true fans. In this case, 1,000 hardcore finance nerds are willing to pay $5 monthly to receive your newsletter. That’s pretty much all you need to make a living sending emails ab.

I’m not saying it’s easy. I’m saying it’s possible.

Remember that our ideas are super specific, but with a creative twist - this could just as well be a comical subscription newsletter for new makeup trends. 

If you enjoy the content and think a friend (or enemy) might enjoy it as well, share Fizzy Idea with them. 

Psst: We're working on some exiting stuff to help our community out. You dont want to miss this in '23. Let's get the new year going!