Sent my first newsletter issue 0 10 hours ago.
Here's everything that happened, the good, the embarrassing, and what I'd change.
The setup:
Galaxy Arbitrage Newsletter launched in May. Free weekly letter for American founders, American expats, remote workers, and arbitrage minded people.
I'm building it from Cebu, Philippines earning in USD, spending in PHP.
Issue 0 was the origin story. No frameworks. No tactics. Just: here's who I am, why I'm building this, and what the newsletter will actually cover.
The list going in:
~310 subscribers. Built over roughly 4 weeks through organic channels like reply guy activity on X, reddit replies discord outreach, seo blog, newsletter directories, and some paid acquisition test runs.
For context: most newsletters don't send Issue 1 until they hit 300–500. I sent early intentionally. It had been a month since some people signed up.
I didn't want to make the early subscribers wait any longer or risk losing their interest in my project.
Issue 0 is a warmup, not a flagship issue. It's the handshake before the conversation.
What I was benchmarking against:
Industry average open rate for newsletters under 1,000 subscribers: 35–45%.
@beehiiv lists sitting cold with no prior sends typically come in lower like 20–28% because the list hasn't been conditioned yet.
My target: 25-30% . That was the line I drew. Anything below meant the subject line failed, the send time was wrong, or the list quality wasn't what I thought it was. Still have to wait 14 more hours to see the full scoop and wait for everyone to open the emails. I can see momentum hopefully we make it to at least 25%.
What went right:
The subject line held. ("I couldn't afford it, so I found a loophole" ) My Origin story format was the right call for Issue 0 it's personal, it filters immediately, and it tells people whether they're in or out.
People who read it know exactly what this newsletter is and who it's for. That's the point.
Reply rate was higher than expected in the first few hours. A few direct replies from people sharing their own geo arbitrage situations exactly the audience signal I was looking for.
What I think went wrong:
Sent at 8am EST on a Tuesday, which is textbook "best send time" which also means it's the most crowded inbox window. I may have blended into the noise. I gotta test Thursday 7am EST next issue to get ahead of the weekend fatigue curve.
The list is also geographically scattered. Local remote workers and whoever subscribed from my socials.
Some of those subscribers are in Europe and Asia — 9am EST is afternoon/evening for them, which tanks open probability for that segment.
Issue 1 I'll look at timezone-segmented sends on beehiiv.
Unsubscribes after Issue 0 are data, not failure. Every unsub is a list cleaning itself. The subscribers who stay after an origin story issue are the ones who actually want to be here.
So far no unsubscribed
The number that matters more than open rate:
How many people clicked through to
galaxyarbitrage.com after reading. Opens are vanity. Clicks are intent. I'll report that properly in Issue 1.
Where this goes:
Issue 1 drops after 400 subscribers. The plan is simple: keep the list growing, keep the content tight, and let the compounding do its thing.
If you want in before Issue 1:
galaxybuilt.dev/newsletter