The Power of Core Actions and the Substack Pro Model: A Winning Combination for Growth and Sustainability

Kazuki

Hatched by Kazuki

Sep 23, 2023

3 min read

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The Power of Core Actions and the Substack Pro Model: A Winning Combination for Growth and Sustainability

Introduction:

In the world of product development and journalism, there are certain foundational elements that determine success. These core actions are essential for growth and sustainability. In this article, we will explore the significance of core actions in product development, as well as the innovative Substack Pro model that revolutionizes the business of journalism.

The Importance of Core Actions in Product Development:

Core actions are the bedrock of any successful product. They are the actions that define the essence of a product and without which the product would cease to exist. For example, pinning for Pinterest or tweeting for Twitter. These actions create value for users and are crucial for user engagement. While having a large user base may seem impressive, it is meaningless if users are not completing the core action. This is akin to empty calories - it may feel good temporarily, but it lacks substance. To achieve sustained growth, it is imperative to focus on increasing the number of users who complete the core action.

The Substack Pro Model: Reinventing Journalism:

The Substack Pro model revolutionizes the way journalism is approached in the online world. Traditional business models for journalism have been disrupted by the internet, making it challenging for writers to monetize their work. However, Substack Pro offers a unique solution by taking on the risk on behalf of writers and ensuring their financial security. In return, Substack keeps a percentage of the subscription revenue for the first year, gradually shifting the revenue split in favor of the writer. This model aligns the interests of writers and Substack, making the success of one dependent on the success of the other.

Building Trust and Reliability:

The success of Substack Pro hinges on trust and reliability. By shouldering the risk for writers, Substack demonstrates its commitment to supporting the writing community. This builds trust among writers and encourages them to join the platform. Substack's business decisions are separate from editorial ones, as they do not commission or edit stories. Writers maintain ownership of their work and are free to express their thoughts and opinions. Substack Pro focuses on evaluating writers based on their audience size, engagement on social media, and their reputation among readers and peers. By fostering diversity of thought, Substack aims to host a broad array of voices and contribute to healthy discourse.

Actionable Advice:

  • 1. Prioritize the core action: In product development, it is crucial to place emphasis on the core action that defines your product. Ensure that your efforts are directed towards increasing the number of users completing this action, as this will drive growth and long-term success.
  • 2. Embrace innovative business models: In industries facing disruption, such as journalism, it is necessary to explore new business models that align the interests of all stakeholders. The Substack Pro model demonstrates the power of innovative thinking and risk-sharing to create a sustainable ecosystem.
  • 3. Foster diversity of thought: Embrace a wide range of perspectives and voices in your platform or publication. Encourage healthy discourse by supporting writers who may face opposition but contribute important ideas. A diverse range of opinions leads to a more vibrant and inclusive ecosystem.

Conclusion:

Core actions and innovative business models are essential elements for growth and sustainability in product development and journalism. By focusing on core actions and optimizing user engagement, businesses can achieve long-term success. The Substack Pro model exemplifies the power of risk-sharing and trust-building to revolutionize the journalism industry. By prioritizing the financial security of writers, Substack creates a platform that fosters diverse voices and contributes to healthy discourse. As we navigate the ever-evolving landscape of technology and media, embracing these principles can pave the way for a thriving and inclusive future.

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