Should I start a Substack for my small business? I asked myself this question repeatedly over the last few years.
Charlie and I recorded multiple episodes of Friends with Business Benefits addressing the same dilemma. You can listen to them here and here. {You’ll notice the podcast now lives on Substack, giving you a sense of where these conversations ultimately ended up!}
When it came to starting my own publication on Substack, I had three main reasons for hesitating:
- 1. Why would I start a Substack for my small business when I already have a blog I update regularly? This boosts SEO and brings people directly to my website.
- 2. Why would I move my mailing list to Substack when Mailchimp is working just fine? I’m on a free plan, so cost isn’t a factor, and I like how my emails look. My open rate is good, my audience is engaged, and I’m change-averse!
- 3. Do I really want another marketing channel I need to update? And what would I even write about? I already create so much content – I just can’t figure out how it fits into my existing ecosystem.
For a long time, I was pretty adamant Substack wasn’t for me. Obviously, I changed my mind! After launching Larking About at the end of November 2024, I’m eager to share my experiences on the platform so far.
But first, a little context…
What is Substack?
At its core, Substack is a newsletter publishing platform. Creators can share their work directly with their audience, and readers can subscribe to receive their content. For now, long-form writing reigns supreme, but you can also publish images, audio and video.
Substack provides everything you need to get started including tools to publish posts and manage subscribers. As well as sending out free content for your readers, you also have the option to create a paid subscription, allowing you to generate revenue directly from your mailing list.
Publishing on Substack is free, but if you offer a paid subscription, the platform charges a 10% commission fee, plus another 2.9% + 30 cents per payment and 0.7% for recurring payments charged by Stripe.
How Does Substack Work?
This is where things can get a little confusing!
On Substack, newsletters are known as ‘publications’. In theory, if a reader subscribes to a publication, that content will be delivered directly to their inbox.
When you create your publication, it’s given a subdomain – a URL that ends with substack.com. This means your newsletter also lives on the internet, looking and feeling a lot like a blog or online magazine.
You also have the option to use Chat, a subscriber-only community space for Substack publications. Creators can host conversations with their subscribers or allow readers to talk in an open forum. Paid publications can paywall access to the entire chat space or individual threads.
As well as its online home, Substack has an app where you can manage your subscriptions, read publications and discover new creators. You do not have to download the app to use Substack. You can stick to receiving content via email. Alternatively, you can switch off emails completely, and only access publications online or via the app.
Finally, there’s Notes – Substack’s built-in social network where anyone with a Substack account {both creators and readers} can post short-form content and interact with others. Notes is often likened to Twitter/X and Threads.
It took me a while to get my head around what Substack is and how it works because it’s so many things, all at once. As with any platform, you’re free to take what you need and ignore everything else.
‘My newsletter is growing happily & I don’t check Notes feed much / don’t use Chat / don’t use video / don’t do Lives / have never done a TikTok in my life / don’t read a ton of other Substacks / don’t use the audio function much either. Sharing this because if you’re overwhelmed by all the many buttons, here’s a reminder that it’s okay to keep things manageable/enjoyable & text-based and you can publish things in whatever way you choose & at whatever pace feels right for you. It’s nice to have choices but it’s OK to also ignore them.’
Why Did I Change My Mind About Starting a Substack for my Small Business?
There were several things that influenced my decision.
A retainer client of mine, Sarah Rees, has been building her community, Therapists Corner, on Substack for almost three years. Seeing how she uses the platform and what she’s achieved has been very inspiring.
I’ve been writing long-form content for Sarah’s blog, and at times her mailing list, since 2018. At the beginning of 2024, she asked me to write for her Substack publication instead. Eager to improve my skills, I went all in on learning about the platform.
The more time I spent on the app, and the more newsletters arrived in my inbox, the more enamoured I became. As well as the publishing capabilities, there’s a lot of community baked into the Substack. Right now, it feels very reminiscent of the early days of blogging.
It’s also a platform filled with creatives. There are writers, poets, artists, illustrators, designer makers and more. Substack feels like a place where I’m likely to find my people.
Around the same time, I discovered my free legacy account on Mailchimp no longer included the option to create any new automated email sequences. This meant I couldn’t do any more on Mailchimp than I could on Substack without paying. Making the switch started to appeal.
Finally, observing other creators helped me develop a clear vision for my own Substack publication. Realising there was a way for me to continue writing for my OG blog AND Substack sealed the deal.
How Did I Get Started?
I created my Substack account in June 2024, but it took me another five months to launch my publication. Once I’d figured out how I wanted to use Substack, I still felt intimidated by the more technical aspects such as transferring my existing subscribers from Mailchimp.
In October, I read a post published by my pal Katie called You’ve Got Mail. Through this I discovered Astrid Bracke and her course, Substack for Small Business Owners, Freelancers and Creatives.
I completed this in November, using what I learned to launch Larking About later that month. I’d really recommend the course. It walked me through the entire process, gave me a deeper understanding of the platform, and helped me set up all the key pages and automated emails for my publication.
My Thoughts So Far
It’s early days. I’m at the beginning of my third month using Substack. I launched with a small archive of posts {mostly repurposed from this blog and my old mailing list} and I’ve sent four emails so far. I’ve also been showing up on Notes almost daily since the start of the year.
For now, my open rate remains about the same as it was on Mailchimp, but my mailing list is growing faster than it ever has before. I imported 240 emails at the end of November 2024. At the beginning of February 2025, my subscriber count now sits at 391. For the first time in years, I feel like I’m reaching a brand new audience.
Most importantly, I’m enjoying the platform. The sense of community and passion for long-form content that exists on Substack makes it a fulfilling place to write. Time spent on the app leaves me feeling nourished and inspired. I’ve discovered some incredible creators, and I love seeing their emails land in my inbox. Basically, the vibes are immaculate!
Should You Start a Substack for Your Small Business?
I can’t draw any firm conclusions about what Substack will or won’t do for my small business yet, but it feels like a space with lots of potential.
Bear in mind, Substack is first and foremost a publishing tool, not a marketing tool. They make this very clear in their content guidelines:
‘Substack is intended for high quality editorial content, not conventional email marketing. We don’t permit publications whose primary purpose is to advertise external products or services, drive traffic to third party sites, distribute offers and promotions, enhance search engine optimization, or similar activities.’
– Substack Content Guidelines, August 2024
If you currently host your mailing list somewhere like Mailchimp, Flodesk, or MailerLite and you rely on things like email sequences and advanced audience segmentation, you should be aware those things aren’t currently available on Substack.
If you’re looking for a simple way to share your work, build community around your brand, and speak directly to your biggest fans by showing up in their email inboxes, it could be the platform for you. The same applies if you’re interested in building an additional revenue stream for your business by pay walling some or all your content.
Although you have the option to include images, audio and video, you need be relatively comfortable creating long-form content. Alternatively, you need to be prepared to outsource this task just like any other form of content creation you might do for your small business. {If only you knew an experienced copywriter…}
A curious mindset and a willingness to experiment will stand you in good stead. This is the approach I’m taking. I’ll check in again later this year and let you know how I’m getting on.
Love Audrey xxx
P.S. For more pros and cons, read Katies’s thoughts on moving to Substack.
P.P.S. One more plug for Larking About. I’d love you to join me over there.
