The Intersection of Building a Product Users Love and Supporting Writers: Lessons from Substack

The Intersection of Building a Product Users Love and Supporting Writers: Lessons from Substack

Introduction:
In the world of startups and journalism, two important aspects stand out: building a product that users love and creating a sustainable model for writers. Substack, a platform that empowers writers to start their own publications, has successfully addressed both these aspects. By examining their approach, we can gain valuable insights into the importance of user love and supporting writers in the modern landscape.

Building a Product Users Love:
Before pursuing growth, founders must first understand what they are doing and why. It is crucial to build a product that resonates with users and inspires them to become advocates. Substack's metric of success revolves around whether users love the product enough to spontaneously recommend it to others. This focus on user love not only drives growth but also fosters a sense of mission within the company.

Supporting Writers:
Substack recognized the broken business model of journalism in the digital age and sought to provide a solution. They introduced Substack Pro, a program that takes on the financial risk of writers by guaranteeing payment for a year, regardless of their publication's performance. This approach challenged the conventional wisdom of prioritizing audience aggregation over a sustainable business model. By aligning their success with the success of writers, Substack built trust and reliability in their platform.

The Partnership:
Substack's Pro program operates on a revenue-sharing model, with the platform keeping 85% of subscription revenue in the first year, and writers keeping 90% thereafter. This arrangement allows Substack to assume most of the risk while providing writers with financial security and the freedom to focus on their craft. It is important to note that Substack does not interfere with the editorial decisions of writers, reinforcing the notion that they are the true owners of their publications.

Evaluating Writers and Publications:
To ensure the quality and diversity of voices on the platform, Substack evaluates potential writers based on several factors. These include audience size, engagement on social media, and the respect they command among their readers and peers. Additionally, Substack assesses the market opportunity of a publication by considering the coverage it offers and how well that subject is covered elsewhere. By hosting a broad array of voices and supporting writers who may face opposition, Substack fosters healthy discourse and upholds the importance of a free press.

Actionable Advice:

1. Focus on User Love: Before pursuing growth targets, prioritize building a product that users genuinely love. Encourage them to become advocates who spontaneously recommend your product to others.

2. Align Success with Writers: If you operate in the content industry, consider innovative ways to support writers financially. By assuming some of the risk and offering financial security, you can attract talented individuals and build a sustainable ecosystem.

3. Embrace Diversity of Thought: In today's polarized world, it is crucial to host a broad array of voices and support writers who may face opposition. Encourage healthy discourse and uphold the importance of a free press by valuing diversity of thought.

Conclusion:
Substack's approach to building a product users love and supporting writers provides valuable insights for startups and content platforms alike. By prioritizing user love, aligning success with writers, and embracing diversity of thought, companies can foster growth and create a sustainable ecosystem. The lessons from Substack remind us of the importance of understanding our purpose, supporting creators, and maintaining a commitment to quality and inclusivity.