So Here’s My Plan for 21 Hats

The goal is to build a to build a community of business owners who compare notes, share their wins and losses, and learn from each other.

Dear 21 Hatters,

As many of you know from our recent podcast episode, “I Need a Business Model,” I’ve been trying to figure out how best to build 21 Hats into a real community and a sustainable business. That episode prompted an outpouring of support from entrepreneurs who let me know just how much 21 Hats—the newsletter, the podcast, the mastermind, the in-person events—has meant to them, especially in tough times. I also got a lot of suggestions, including this emphatic plea: “Start charging us!” Until now, I’ve been requesting voluntary payments for the Morning Report newsletter, and I’m extremely grateful to those who have offered support. Now I’m asking everyone to join this effort by becoming a paid subscriber.

Here’s what you will get: Starting August 5, only paid subscribers will receive the 21 Hats Morning Report, which curates the most important news of the day specifically for business owners. Some of these articles, posts, videos, and podcasts are produced by 21 Hats; some are drawn from sources around the web that are obvious, some from sources that are obscure. But we take the time to do the searching so you don’t have to, and we highlight the most important points in each story. If you want to go deeper, you can always click the link. PLUS: Paid subscribers also get access to the 21 Hats Sounding Board, our dedicated Slack channel, where you can exchange recommendations and ideas and questions with like-minded owners. And that’s not all! You will also be eligible to attend our in-person events and workshops like our Fish Bowl with Chris Hutchinson and a series I’m planning on the best ways to share your business’s story.

Here’s what it will cost: Just $9 a month, or you can make one annual payment of $99 and get a free month. Or you can join as a Founding Member, which entitles you to attend our monthly mastermind Zoom where owners compare notes on what’s working and what isn’t and also meet special guests who share their expertise and experiences. The fee to be a Founding Member will continue to be $480 a year. (We meet for an hour at 12 ET on the second Wednesday of each month. I always get there half an hour early for those who have extra time to chat.) If you’d like to try it out by attending a session as my guest, let me know by replying to this email. Of course, if at any point you feel you’re not getting your money’s worth, you can always get your money back. My hope is that charging for the newsletter, the mastermind, and the events will enable me to keep attracting new members to our community by continuing to offer the 21 Hats Podcast for free.

Here’s how to sign up: If you’re already a paid subscriber, thank you! You don’t have to do anything—although, please note that the new fee is slightly less than the voluntary fee I’ve been requesting. Feel free to cancel your current subscription and then re-subscribe at the lower rate. Those free subscribers who choose not to become paid subscribers will continue to get the daily email, but they will be able to see only the very beginning of the newsletter. Those free subscribers who wish to convert to a paid subscription can do so right now.

The guiding philosophy of 21 Hats is that you do indeed have to wear a lot of hats to build a business, and no one is expert at all of them. We believe the most valuable support an owner can get comes from engaging with other owners on similar journeys to get the kinds of insights only another owner can offer. No one can tell you what is best for your business, but joining the conversation will expose you to thoughts and ideas and experiences that will help you decide what’s right for you.

We’re just getting started here: I’m confident that your (tax-deductible!) subscription will represent both a tremendous value for you as well as a worthwhile investment in a community that will continue to find new ways to support you and other owners for years to come. The goal is to keep adding resources, including more workshops on hot-button topics like making practical use of artificial intelligence and more events like a bigger annual gathering to celebrate—and learn from—the most successful businesses of the year. 

If you have comments, questions, or suggestions, please let me know. You can reply to this email, or you can call my cell, 215-906-2707. Thank you!

Loren