My $41M SaaS Started As A Side Hustle | Nathan Barry
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Nathan Barry, founder of ConvertKit, shares his journey from software designer to content creator to software founder. With ConvertKit now sending 2.5 billion emails per month and generating $40 million in revenue, Nathan discusses the power of building an audience and leveraging it to create long-term enterprise value.
00:00 - Nathan Barry introduces himself and his journey from software designer to software founder
02:57 - Nathan Barry discusses his passion for flying and the process of getting a pilot's license
06:43 - Nathan Barry expresses his goal of using flying for both personal and work-related purposes
08:14 - Nathan Barry discusses the limitations and considerations of owning a larger plane
09:49 - Eric asks Nathan about the payment structure for the pilot.
12:30 - Nathan talks about his podcast and the journey of building an audience.
14:02 - Nathan shares the story of Mark Sisson and the value of redirecting audience attention to a product.
15:08 - Nathan explains the power of an audience in promoting and selling products.
16:03 - Nathan discusses the success of Mark Sisson's Primal Kitchen and the value of an audience.
18:19 - Nathan talks about the three rules for building an audience and creating enterprise value.
19:46 - Nathan shares his experience building ConvertKit and its long-term enterprise value.
20:05 - Nathan Barry and Eric Siu discuss the potential of agencies as successful businesses.
21:25 - Nathan Barry shares his perspective on monetization options for creators.
25:52 - Nathan Barry talks about the current growth and future potential of newsletters.
29:46 - Nathan Barry shares a story about how having an audience can shortcut career paths.
31:24 - Transitioning from personal brand to building a business
32:22 - Using personal brand to drive attention to other businesses
34:21 - Debate on the success of creator-led agencies
36:12 - Spending 90% of time on business operations and 10% on content creation
36:58 - Importance of understanding business operations for creators
39:15 - Strategies for growing Twitter following
42:09 - Repackaging and reposting content for maximum reach
43:40 - Nathan Barry turned down a $200 million offer from Spotify.
45:47 - Nathan Barry is transparent about his financials to inspire others.
52:59 - Nathan Barry discusses the flywheel strategy for growing a newsletter.
54:17 - Co-registration and targeted cross-promotion amplifies subscriber growth.
55:30 - Advertising as a loop closer drives new subscribers for sponsorships.
57:54 - Growing the newsletter audience leads to book sales and more opportunities.
59:59 - Building network effects between creators through the Creator Network.
1:01:36 - Convertkit's Creator Network and Spark Loop acquisition.
1:03:19 - SparkLoop's open integration attracts higher quality brands and creators.
1:05:13 - SparkLoop handles 90% of all paid recommendations in the industry.
1:05:36 - Nathan believes that building the best system for getting engaged subscribers could generate more revenue than subscription revenue in the future.
1:06:09 - Nathan suggests using partnerships with other blogs to promote the subscription service and increase email sign-ups.
1:07:24 - Nathan explains that the transition from email list growth to engaged subscribers in e-commerce could attract hundreds of millions in ad dollars.
1:07:38 - Eric asks Nathan about his quote "making money is a skill" and Nathan explains that building a successful business requires developing a range of skills.
1:09:11 - Nathan breaks down the different levels of skills needed to build a successful business and advises against trying to jump to the top level without building the foundational skills first.
1:10:27 - Nathan uses an example of a friend learning to play the piano to illustrate the importance of deliberate practice and building skills in business.
1:11:37 - Nathan shares where people can find him online, including his podcast and newsletter.
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