The Intersection of Risk and Growth: Lessons for Writers and Product Leaders

The Intersection of Risk and Growth: Lessons for Writers and Product Leaders

Introduction:
In today's rapidly evolving digital landscape, both writers and product leaders face unique challenges. The internet has transformed the way journalism operates, disrupting traditional business models and requiring innovative approaches to ensure writers get paid. Similarly, product leaders must navigate various types of product problems, balancing the need for feature expansion, growth, scaling, and product-market fit expansion. In this article, we explore the commonalities between the Substack Pro program for writers and the journey of product leaders, highlighting the importance of risk, trust, and influence in achieving success.

The Substack Pro Program: Sharing the Risk for Writers
The Substack Pro program was developed to address the new realities of journalism in the digital age. By absorbing more risk on behalf of writers, Substack ensures they receive compensation for a year of work, regardless of their publication's performance. This innovative structure aims to build trust and reliability in the Substack model. In exchange for financial security, Pro writers agree to allow Substack to keep 85% of the subscription revenue in the first year. After that, the writer retains 90% of the revenue. This approach demonstrates Substack's commitment to supporting writers and fostering a long-term relationship based on shared success.

Ownership and Independence: Empowering Writers
A distinguishing feature of Substack Pro is that writers retain full ownership of their publications. Substack does not commission or edit stories, nor does it manage or hire writers. Instead, writers are the true owners of their work, publishing under their own brand. Substack's only requirement is a commitment to a minimum publishing frequency, ensuring writers are actively engaged in building their audience and contributing to the Substack ecosystem. By empowering writers with ownership and independence, Substack fosters a diverse range of voices and perspectives, essential for a healthy discourse.

Evaluating Market Opportunity: Quality and Engagement
To select writers for the Substack Pro program, Substack assesses several factors beyond the writer's audience size. They consider the level of engagement on social media, the respect the writer garners from readers and peers, and the uniqueness of the subject matter covered. Substack recognizes the importance of a publication's market opportunity and seeks to host a broad array of voices. They value diversity of thought, understanding that writers who may face opposition are often the ones driving important conversations. This approach aligns with the principles of a free press, where heroes and villains can be perceived differently based on historical context.

Transitioning from Product Manager to Product Leader
Product leaders face their own set of challenges as they progress in their careers. While product managers focus on maximizing the return of individual types of work, product leaders must take a holistic approach to maximize the overall Return on Investment (ROI) across different types of product problems. They transition from being personally proficient to training others to excel in their roles. The value of a product leader lies in the collective output of their team, rather than their individual contributions. To succeed as a product leader, one must expand their influence beyond their direct span of control, identifying and addressing the larger set of obstacles impacting their problem area.

The Power of Influence: Allocating Resources and Driving Change
Influence becomes a critical skill for product leaders as they navigate organizational dynamics. Effective product leaders must be persuasive enough to drive action from individuals who may not have direct knowledge or involvement in their specific function or problem area. They must learn to allocate resources wisely and influence others within the organization to solve problems outside their immediate scope. This ability to create scope and opportunities for the organization is essential for product leaders seeking to make a meaningful impact and bridge the gap between individual and team success.

Actionable Advice for Writers and Product Leaders:

1. Embrace risk and trust: Both writers and product leaders must take calculated risks to achieve growth and success. Embrace new models and approaches that may disrupt traditional paradigms, while also fostering trust with your audience or team.

2. Cultivate ownership and independence: Writers should strive for ownership over their work, and product leaders should empower their teams to take ownership of their contributions. Encourage autonomy and provide resources and support to drive independent growth.

3. Develop influential leadership skills: Product leaders must learn to influence others in the organization, even those outside their domain of expertise. Hone your persuasive abilities, understand the larger organizational landscape, and effectively communicate the value of your initiatives.

Conclusion:
The worlds of journalism and product leadership intersect in intriguing ways, highlighting the importance of risk, trust, and influence. Substack's Pro program demonstrates the power of shared success, while product leaders navigate the complexities of managing different types of product problems. By embracing these lessons, writers and product leaders can navigate the ever-changing digital landscape with confidence, fostering growth and innovation.