—Welcome to Startup Gems, where we find undiscovered startup growth hacks, stories and case studies from every random nook and cranny of the internet.—

—Whether you're a seasoned entrepreneur, an aspiring startup expert, or simply someone seeking inspiration, Startup Gems is your source for the stories that ignite the flames of innovation.—

—I’m Chris Koerner, your host, and today, we have a fascinating journey to unpack – the story of Workspaces and the principles that turned it into a thriving success.—

—In the next few minutes, we'll dissect the secrets behind Workspaces' rise to fame. We'll explore how genuine relationships, consistency, and leveraging existing networks propelled this venture to remarkable heights. These principles aren't just confined to newsletters; they're universal truths that can transform any business.—

—So, buckle up and get ready to uncover the strategies that could shape your business journey. Whether you're a startup founder, a small business owner, or an aspiring entrepreneur, the lessons from Workspaces are bound to inspire and guide you.—


—Today, we're diving into the inspiring story of Ryan Gilbert and his unique newsletter business, Workspaces. No frills, just straight facts. Let's get started.—

—Ryan Gilbert is the mastermind behind Workspaces, a twice-weekly newsletter that takes you behind the scenes of your favorite entrepreneurs, designers, and developers' desk setups. The goal was simple: to provide readers with a glimpse into the evolving world of workspaces.—

—So, how did this all begin? Well, back in twenty twenty when the pandemic sent everyone home to work, Ryan seized the opportunity. He chose Substack for its simplicity and used a trifecta of tools - Twitter Dee ems for pitches, Gmail for communication, and Notion to manage sponsorships. The best part? It cost him absolutely nothing to run the show.—

—Over two years, Ryan featured 167 workspaces, with 70 more in the backlog, and grew the newsletter to 65 hundred subscribers, maintaining an impressive open rate of over 50 percent.—

—But here's the kicker: Ryan didn't rush to monetize. In fact, he published the first 117 editions without a sponsor, solely focusing on growing his subscriber base. He emphasized the importance of genuinely enjoying the content you create.—

—Now, what about marketing strategies? Ryan's advice for growing your subscriber base is simple: produce shareable content. He leveraged Twitter to tag people and their communities, creating a snowball effect of views and subscribers. He also looked for guests with larger Twitter followings who would often retweet their features.—

—But why do people willingly share their workspace designs? It's all about the exposure. They get to showcase what they do to a broad audience, and they genuinely enjoy sharing insights about themselves and their work.—

—So, how does Workspaces make money? Before its acquisition by YC startup Loops, the newsletter was raking in two grand monthly from sponsorships. Ryan's approach was straightforward: he added a blurb in the intro of his newsletter, stating that he was looking for sponsors. Most sponsors came to him, and some even offered discounts to his readers. He sold the majority of sponsorships to his subscribers, making the process remarkably effortless.—

—What kind of data did sponsors want from him? Just the basics - the number of subscribers, average open rate, and click rate.—

—Finally, one golden piece of advice from Ryan: consistency is key. Building a successful newsletter is not an overnight cash cow. You have to genuinely enjoy what you're doing and be consistent in showing up, putting out great content, and learning from feedback. As Ryan put it, "the money will come."—

—And there you have it, the story of Ryan Gilbert and his thriving newsletter, Workspaces. No fluff, just the facts.—

—Now, let’s change tunes and start distilling the success story of Workspaces and uncovering the principles that made this business soar. Let's dive in.—

—Principle 1: Build Genuine Relationships for Organic Growth—

—One of the key reasons behind Workspaces' success was Ryan's ability to build genuine relationships. He leveraged Twitter to connect with people, tagging them and their communities, creating a ripple effect of visibility. Every shared workspace led to an immediate bump in views and subscribers.—

—For any business owner, this means engaging authentically with your audience. Be it through social media, email newsletters, or even in-person events, building sincere connections can organically expand your reach. Respond to comments, ask for feedback, and genuinely interact with your customers. These interactions can translate into loyal customers and advocates for your brand.—

—Principle 2: Prioritize Consistency and Patience Over Immediate Monetization—

—Ryan's story teaches us the power of patience and consistency. He published a whopping 117 editions of his newsletter without a single sponsor, solely focused on growing his subscriber base. He emphasized the importance of truly enjoying the content you create. Consistency in delivering quality content and iterating based on feedback eventually led to Workspaces' success.—

—In your business, this principle translates to focusing on the long game. Instead of obsessing over quick profits, invest your energy in consistently delivering value to your customers. Listen to their needs, adapt your offerings, and stay committed to your vision. Over time, this dedication will foster customer loyalty and sustainable growth.—

—Principle 3: Leverage Your Existing Network and Audience—

—Workspaces' monetization strategy was ingenious. Ryan tapped into his existing subscriber base, offering sponsorship opportunities. By simply adding a blurb about looking for sponsors in his newsletter, he received responses and bookings, most of which came from his own readers.—

—For any business owner, this principle underscores the importance of leveraging your existing network. Your current customers, clients, or subscribers are valuable assets. They already trust your brand. Introduce new products or services to them first, seek their feedback, and offer them exclusive deals. By nurturing your existing audience, you can boost sales and create a strong foundation for your business.—

—There you have it, folks! The secrets behind Workspaces' success are rooted in building genuine relationships, prioritizing consistency and patience, and leveraging your existing network. These principles are not exclusive to newsletters; they can be applied to any business, big or small.—

—Remember, success takes time, effort, and a genuine connection with your audience. So, go out there, build those relationships, stay consistent, and make the most of your existing network. —


—Thank you for being part of today's adventure through the world of startups and innovation. Did this episode ignite any fresh perspectives or ideas? Share your reflections and favorite takeaways in a review wherever you’re listening now. Remember to stay curious, continue to forge your own path, and subscribe and follow Startup Gems to be the first to access stories that will fan the flames of your entrepreneurial passion.—