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Building an indie business in the center of venture capital. I am Alex Edmonds, also known as supremerumham on the internet. And this is the building an indie business podcast. Okay. Um, so today I'm going to be talking about my new project. So, a few episodes ago, I think it was last episode even I talked about how I was going to step away from open podcasts. And now I want to talk about what I will be working on, instead of open podcast. So, the project is called revenue research. What is it, so revenue research is going to be reports on industries and how they generate revenue. It's exactly what it sounds like. So won't be just tech. It'll be about airlines movie theaters podcast players, no code platforms, 99 cent apps athletes. So the previous episodes that I've been doing, have been about revenue research I just haven't said anything and now. This is what I am going to be talking about now, so I'm telling you what I'm doing. So, I'm going to be talking about how they generate revenue. And I want you to be doing that, I'm going to be giving my opinion about some aspect of the report. And I think this is key because anyone can write about how airlines generate revenue right but my, my opinion, makes the content unique only, I have my opinion. And so, if I add my opinion. That will give people a reason to come back, I believe, and get to to get to know me and read the content for me. So yeah. Um, so who is my audience and who is this content for, um, I think it's for makers, and it's for makers that want to learn about monetization. I see makers that have trouble monetizing their projects. And I think by reading, how someone that has a similar product or is in a similar industry. I'm reading how they monetize will help other makers monetize their project. Right. And then there's also for people interested in finance. So I know people that have missed out on investing in certain companies, when they went public because they didn't understand the business model, or how they generated revenue. So, by reading these reports, they will understand how new companies or new industries, make money, and they can decide whether they believe that industry is worth investing in. So yeah. Um, so this was a previous idea of mine, I consider this before doing bi B. Yeah. So in 2018. Before I started the podcast. I was considering starting the podcast or a podcast. Okay, so in October of 2018. I was deciding on what podcasts I should start, and there was between what I was building in terms of web development. And that was, at the time, it was alerts for BTC at the time I was called alerts for cc.com. And this was web development focused, or it was revenue research at the time I didn't have a name for it. And I was just writing. So the idea was that I would write five reports. And at the end of five reports. I would then buy a microphone. And then do it as a podcast. I only got to two of them. And the two that I did, they actually got really. They got viewed a lot on hacker noon Hacker News and Reddit, so I was getting traffic from them, I still get traffic on my WordPress blog. So I wrote about the music industry in the podcast market, at the time, and the podcast market was not interesting or not in. It didn't get it wasn't accurate, at the time, and now that I'm in the podcast industry. I know a little bit better. And the music industry, it actually the one I wrote it pisses people off. Because, specifically because I insulted. The execs and the music industry, I could do an episode on that but I probably won't. So yeah, um, this was a previous idea. I struggled with the writing and the research. This was before, I, I got better at writing and research, the podcast helped me get better at writing and research. And then I also at the time. I didn't understand monetization. So I didn't know how to monetize the content. And then I wanted something involving web development. And at the time All I knew is how to, how to what's the word I'm oh how to just, I was thinking of just spinning up a WordPress blog, which is something that's different from what I'm doing for the project and now. Yes. Okay. And so, for the project. I'm starting off small, that's my goal, right, I'm gonna write 10 reports. And what I'm looking for in those 10 reports is 10 email subscribers. Because I. The reason why I'm moving on from open podcast is because the email list is small. And, um, there's, I don't think there's any growth in it. So, what I'm looking for is growth. What I want is in those 10 reports I want 10 subscribers or 10 people to subscribe, which tells me they want the content. And I'm not really looking for 10 subscribers only I'm looking for growth. I want like one person to subscribe. At least one person to subscribe. Every time I release a report. And that way I know that this idea. It's growing, right, it's not just these 10 people. And I'm writing for these 10 people. If it's always growing, it has potential. Right. And I think that 10 is a simple number to start out with. And if I can't reach that I move on. And then my, I don't want to be stuck at a small number for months, like I I have, or that I was with open podcasts, at the time. So I'm starting off small, I'm not using a blog even. I'm just writing it in plain HTML, CSS, and JavaScript. And this is because I wanted to spend as little money as possible. I didn't want to pay the. I didn't even want to pay the $5 for ghost. Yeah. And even then, when I was starting out with the idea for this project. I didn't even want to buy the domain. I didn't want to buy revenue research Co. I wanted to write the 10 posts on the podcast domain, and just put like the pop ups that are on the domain, I'd make that into the revenue research email list instead of the podcast email us. Yeah. And so when the 10 posts are done and finished and fully promoted. I will launch them on product time to see if there's any more interest in the idea from people. So, why am I doing this idea specifically I have others that I can work on. And, yeah, so the market, I believe, no I know for a fact, for revenue research or financial research. It's bigger than podcasting. So I did some small amount of research in terms of the market for financial information. And I compared it to podcasting. So, the on Reddit. The podcasting subreddit, which was where I was promoting the podcasting content. It had 50,000 subscribers I think 52 point 2000 subscribers. And so the economic economy subreddit, it has 225,000 subscribers, so that's four times more than four times the amount of subscribers. So, there's more. I'm more likely to get more subscribers from the economy subreddit, then podcasting and that's just one subreddit that I looked at I looked at finance and I looked at business as well. And so between those three it's about million. Right. Um, so, and the, the potential market grows for each subject. Um, I'm focusing on SEO as well. And I'm titling, the posts that someone would Google. So, if one. If the airline industry, blog posts has 6000 people searching it for a month, and the what the 99 cent app, blog posts has 2000 people searching for that a month that that compounds, for more people to find my content and subscribe. And it's just, it's not only on 8000 people between the two subjects, it's 8000 people for a month for each month. Right. So that's that comp plan, pounds even more. Right. So yeah, um, monetization. So, one form of monetization. It's the same thing I did for open podcast. I can take all my blog posts and create a book for revenue research, and I could promote that book. So yeah, that's one form another form as I can do more detailed reports. So for for the free content, I do the revenue research, and then for the paid more detailed reports, I do projections, or I have images or something like that. And then, um, I could do a paid community, and have the subscribers interact with each other. And that might provide value to them. And then finally, donations. I can always accept donations. Um growth of the content. So I'd like to have more than just the revenue research, eventually, and the things I am thinking of adding to the reports, our expenses and profit and that way people can understand if an industry is truly profitable. And if it makes money. The next thing I could do is projections. I'm looking at all these numbers and I could see where the industry is going as a whole. On data. I can provide data points, like, I don't have to just talk about what happened in 2019 or 2020. I can talk about what happened. 10 years ago. And what people know how the industry is going. I can do interviews for the airline industry report I interviewed Ross, friend of the podcast. So I can interview more people to get information about an industry. And then I could do, images, as well. Just add my own images, like, for projections, I create the graph for it and I post it in the blog posts that I write. Okay. So for content, what I have so far is I have the newsletter. And that's just me sending the blog posts to the email subscribers, Then I have the website, which. That's for SEO, and for anyone who wants to read it. Right. And then they have the private podcast that someone gets when they subscribe to the email list. And the welcome email I have the RSS feed that someone can put into their podcast player to listen to the podcast. And right now it's a lead magnet. And it's just me talking I take the episodes that I do from B to B, and I do some editing, and then I add I delete the intro from B IB. And then I do my own revenue research intro. And that's the podcast. And right now the reason why it's private is because I don't have a lead magnet. So once I think of a lead magnet to create. I'll make it public and I'll add it everywhere. Just so I so people can discover and discover the content, which I think would be good. Okay. And the final thing I want to talk about is usually when I create a new project, like open podcast or on this podcast itself. I create a project Twitter account, but uh, this time, I won't be, I'll be sticking to my personal Twitter. And the reason why I want this is because I want people to get to know me and see me as the face of the project. Right. So I think by sticking to my personal, that's one way. And then it's easier for me just to keep posting on my, my own Twitter account instead of switching switching it's not a hassle, but like, it's just an added layer of friction. And I think it's important to see me in that way people can get to know me, because I won't just be posting in the revenue research stuff. I'll be making jokes or talking about something else that I see on Twitter. And then I can also take these Twitter followers, with me when I create a new project. So if revenue research doesn't reach the 10 email subscribers. And some people find me and follow me from revenue research. Then, um, there'll be on my Twitter account, and not some dead Twitter account that uh it's abandoned. So, yeah, that's a revenue research. I hope you find the content interesting, because that's what I'm gonna be talking about on the podcast for some time. And you can subscribe to the stuff in the show notes. Thank you for listening. Have a nice day. Bye. Okay.