BUSINESS IDEA | STARTUP

Beehiiv for Local Newsletters 🖥️

The talk of the town

Available Domain: Histreet.io

1. Problem/Opportunity❓

The Problem/Opportunity: Local newsletters are all the rage at the moment. These are newsletters that typically cover the news and current events in a city, town, or specific geographic area. This shouldn’t be confused with local news though, which can be a little slow sometimes.

Local newsletters can be super profitable though and while you can create local newsletters on Beehiiv or Substack we think someone could build a much better platform to support these creators. Let’s break it down.

Market Size: The global daily newsletters market was valued at $12bn in 2023

2. Solution ✅

The Idea: A platform which allows users to easily create, grow and monetize local newsletters

How it Works:

• The user signs up to the platform and can create their own newsletter using a newsletter editor on the platform

• They can also create their own website on the platform where users can subscribe to the newsletter

• There’s also the ability for newsletter owners to add additional functionality to their websites specific to local communities, such as job boards, an announcements page and so on all built into the platform

• Local businesses can also sign up to the newsletter platform and have the option to post on these job boards or even buy ads in local newsletters

Go-to-market: Find some local newsletter writers and ask them what a platform would need to do for them to switch over from their current provider. Then build exactly that.

Business Model: Monthly subscription fee

Startup Costs: You’ll probably need to do a raise here to build out the platform

3. How You’ll Get Rich 💰

Exit Strategy: Exit to one of the large players in the newsletter business, like Beehiiv or Convertkit

Exit Multiple: Typical SaaS exit multiples in the 4x - 8x revenue range

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DRUNK BUSINESS IDEA

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The best way to start your day.

JUST THE TIP

Trend 📈: ADHD Music

As ADHD diagnoses are skyrocketing around the world (thanks smartphones) more and more people are turning to music for help. Music can help improve attention, reduce hyperactivity and create pleasurable experiences for persons with ADHD, meaning ADHD Music is gaining more and more traction.

Business Ideas

• Focus-enhancing Music Subscription Service: Create a platform offering curated playlists and original compositions scientifically designed to improve focus and productivity for people with ADHD.

• ADHD Music Meditation App: Design an app offering guided meditations with specifically composed background music to help individuals with ADHD practice mindfulness and improve focus.

THE MONEYSHOT

The Trio Who Raised $8bn…for Other Startups

Oculus. Peloton. Oura. Allbirds.

All of these startups share one thing in common (and it’s not that I can’t afford to buy them). No, what they all share in common is that they wouldn’t exist if it wasn’t for this trio’s company.

This is their story.

Perry Chen (M) has a pretty crazy resumé. He’s worked a lot of different jobs in a lot of different industries, having worked as a disc jockey, coder, day trader and even as a preschool teacher between 1998 and 2002.

But in 2002 Perry had an idea. An idea that would change everything.

Perry was a musician at the time and one of his favorite musicians at the time was a duo called Kruder & Dorfmeister. He wanted them to play a gig in New Orleans but was unable to raise the necessary cash to do so. Which got Perry thinking. What if there was a way for him and other fans of the duo to come together and pledge money in advance to get the gig to happen? The public could pledge money to the project, but would only have to pay if enough people thought it was a good idea.

With this idea stuck in his head Perry moved back to New York in 2005 and made ends meet waiting tables. One of the regulars in the Brooklyn restaurant where he worked was music journalist named Yancey Strickler (R). Sharing a love of music the two struck up a friendship and eventually took their relationship to the next level…becoming business partners. Later they added a third member to the team, Charles Adler (L), and in 2009 they were ready to pursue their idea full-time.

They founded Kickstarter.

The site’s first successful project, from an artist who promised to draw whatever his backers suggested, raised just $35 in April 2009. But from humble beginnings an incredible business grew.

A year after its launch, Time magazine named Kickstarter one of the 50 Best Inventions of 2010. That same year the platform raised $10 million from investors like Union Square Ventures to support their growth.

By 2011, the site had attracted 1 million backers and scores of cool projects. In 2012, a Kickstarter project broke the $1 million threshold for the first time, a milestone the founders never thought they would reach.

To date the platform has raised more than $8bn for different projects. The platform operates on a fee model where it takes 5% of funds raised from successful projects, meaning the platform has earned more than $400m in revenue since its inception.

All of which stemmed from an incredibly simple but powerful idea that Perry had one day. Which is why we all need to keep our eyes open for opportunities.

There could be one right around the corner.

INFLUENCER IDEAS

#HalfBakedBizIdea

John Timmerman sharing a pretty out there idea.

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