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WLW #77
This week’s issue of Work Less Wednesday is sponsored by:
🏖How To Work Less: Build Your 6-Figure Lifestyle Business🏖
That’s right I’m sponsoring my own email!😜
How To Work Less Cohort 4 is less than 2 weeks away! We’ve taught hundreds how to design a one-person business that meets both their profit and lifestyle goals. And we’re doing it again on May 1st! Hop on our VIP Waitlist for $500 off this cohort!
Join The Waitlist For $500 Off!
🏖️ 1. Sign Up For My FREE Workshop! – Click here to instantly reserve your spot
I recorded a free workshop!
And I’m releasing it on Monday!
To celebrate the launch of Cohort 4 of 🏖️How To Work Less, I recorded a brand new FREE workshop, called “4 Steps to Build a 6-Figure Lifestyle Business.”
🖼️ 244 slides.
⏱️ 74 minutes.
🥇 Tons of value.
🆓 Totally free.
If you’re self-employed (or working towards it), you’re going to want to watch this.
And get in early – the workshop replay will only be available to watch for 72 hours.
(And make sure to stick around to the end) 😉
Workshop Details
- Name: 🏖️ 4 Steps to Build a 6-Figure Lifestyle Business
- Release Date: Monday, April 24th at 9am EST
- Registration Link: Click here to be automatically added to the list
- Expires After: 72 hours
💸 2. Why I Lose $2,516 A Month To Send Out A Free Newsletter
Few understand the costs associated with running a free newsletter.
It’s free for you, not for me.
I was inspired by this Twitter post to take a look at the costs I incur by creating WLW.
💸 My direct newsletter expenses: $4,516/month
(I also incur a lot of indirect expenses related to my biz: website hosting, subscriptions, etc. – not listed here)
📬 ConvertKit: $250/month (16k subs)
Newsletter platform.
💻 Notion: $16/month
Newsletter organization and management.
👥 Team Costs: $250/month
My team uploads WLW to ConvertKit, posts WLW reminders on Instagram, and uploads the archive to my website. This costs money.
⏰ My Time: $4,000/month
People always forget about the opportunity cost of their time. According to my favorite time tracking software, I spend about 8 hours a month writing WLW (2 hours per issue). I sell an hour of my time for $500. That adds up quick!
= $4,516/month in Expenses
Fortunately, this expense is offset by our lovely sponsors of Work Less Wednesday.
I earn $500/issue for sponsorship.
💰 Sponsorships: $2,000/month
P.S. if you’d like to promote yourself to 16,000+ readers (and growing 2,000/month), you can purchase a sponsorship slot here.
📊 Grand Total: $2,516/month (loss)
So why do I lose nearly $30,192 a year to email you?
Three reasons.
⚠️ 1. Remove Platform Risk – I don’t own my 210,000 Instagram followers. Instagram does.
If they want to stop showing my posts, they can. That’s scary.
If I could bring all 210,000 of you over to Work Less Wednesday, I would. I’m trying.
🤝 2. Build Connections – I’ve met some amazing people through this newsletter.
A welcome surprise.
💳 3. Sell Stuff – If you’re self employed, I want you to take my course.
I really believe it will change your life.
(By the way, How To Work Less Cohort 4 enrollment opens next week!)
But if you don’t take it, no worries.
That is the beauty of this business model.
I get to make life-changing money despite the fact that just .08% of my audience is a paying customer.
That means I provide free information and value to over 211,229 people, from all around the world.
Crazy.
🐦 3. Twitter Published It’s Secret Algorithm – Here’s How It Works
Twitter just opened up their secret feed algorithm to the public.
Not surprisingly, people dug in…
So what really matters on Twitter?
Positive factors 👇
- Likes → 30x
- Retweets → 20x
- Given replies/comments → 1x
- Images or videos → 2x
- English UI (0.5x) tweet (0.2x)
- Follows from seeing tweet → 4x
- Trending topics or news like this → 1.1x
- Verified (Twitter Blue) → 1x
Negative factors 👇
- Reported tweet is reduced by 700x
- Multiple hashtags
- Bad follower to following ratio, eg. if you follow 10k people and have 10k followers
- Only posting URLs
- Only images
- Outbound links to non-news or media sites
Thanks to my friends at TweetHunter for this summary.
🤑 4. Yes, You Can Have Too Much Money – Article by Jack Raines
Most of us have some amount of money in our heads that we think would solve all our problems.
That’s our “f*ck you” money number.
Once we cross that magical line, life’s problems melt away.
When you have “f*ck you money,” you can say “no” to anything.
Nobody owns you. Your life is wholly yours. You have the ultimate degree of freedom.
Not so fast.
No one talks about what happens when you have too much money – you lose your freedom again.
A lack of money makes you a slave to your wages, but too much money makes you a slave to your net worth.
The billionaire hedge fund manager trying to outperform last year’s returns doesn’t have “f*ck you” money.
Neither does the minimum wage worker struggling to survive.
While these individuals reside on opposite ends of the income spectrum, their minds are consumed by thoughts of needing more.
There’s a lesson here.
Maybe “f*ck you money” is really just a state of mind.
💼 5. I Made A Bold Prediction On March 30, 2022… I Was Wrong – Modern MBA
Exactly one year ago, in Work Less Wednesday Issue #22, I made a bold prediction. It is copied below:
“I’m making a bold prediction: This YouTube channel (with 8,000 subscribers) will hit 1M subscribers by 2023.”
That YouTube channel is called Modern MBA.
When I called my shot, they had 8,000 subscribers.
I was wrong.
1 year later, they have a mere 251,000 subscribers.
But I stand by my pick.
Their content is great.
They’ll get there.
And 2023 isn’t over yet.