Building an AI Media Business from $1K to Multi-Million Exit | Adam Biddlecombe - Mindstream Founder

Here are the top 10 key takeaways from Adam Biddlecombe's journey of building Mindstream from a $1,000 investment to a multi-million dollar exit in just 17 months.

1. From struggling musician to successful entrepreneur

Adam Biddlecombe's journey began as a musician in a band called Chasing Deer. While his music career didn't ultimately succeed, it taught him valuable business skills. He managed the band's finances, marketing, and operations while his bandmate focused on creative aspects. Though music was his dream, COVID-19 ended this chapter of his life, forcing him to move back with his parents at age 22.

After a difficult transition period lasting about three years, Adam worked several sales jobs before founding Mindstream. This period of struggle and failure gave him perspective that helped him approach new ventures with less pressure. As he put it, "I have been a failure for 10 years and a success for two."

2. Launching Mindstream with minimal investment

Adam started Mindstream in May 2023 with his childhood friend Matt Village. They identified AI as a trending topic that Matt, a copywriter, was genuinely interested in writing about. They each invested just £500 (about $625) to get started and had a clear goal: could they quit their jobs within six months?

The initial launch happened quickly - within 2-3 hours, they had chosen the name, bought the domain, created a logo, and were ready to go. Unlike many newsletter startups that used AI to generate content, they differentiated themselves by having a real copywriter provide genuine analysis and opinion. Their tagline "written by humans" highlighted this difference during a time when many competitors were using AI-generated content.

3. Building audience through strategic acquisition

Adam's breakthrough growth strategy was acquiring another newsletter. He connected with Mattitz, who owned autogpt.net, a domain that inadvertently collected newsletter subscribers due to its similarity to a popular open-source AI project. This domain was receiving significant organic traffic from people searching for the AutoGPT project.

Through negotiation, Adam merged Mattitz's newsletter with Mindstream, giving Mattitz 30% equity. This acquisition instantly grew their subscriber base from 15,000 to 110,000. While these weren't the highest quality subscribers (25% open rate vs. their eventual 47%), the sheer quantity allowed them to attract major advertisers and generate revenue that could be reinvested into better growth strategies.

4. Monetization through strategic advertising

Mindstream chose a sponsorship-based monetization model rather than a premium subscription model. Adam handled all ad sales personally, without needing a dedicated sales team. They deliberately priced their ads to be slightly below their competitors, making it an easy decision for advertisers.

By maintaining reasonable pricing, they achieved over 50% advertiser retention and secured long-term deals that provided predictable revenue. This approach allowed them to project monthly recurring revenue without having to constantly find new advertisers. Adam prioritized stable, long-term relationships with advertisers over maximizing short-term revenue, which also saved overhead costs of hiring sales personnel.

5. Intentionality as a core business principle

Adam emphasized intentionality as his word for 2025 and a central principle in his approach to business and life. Being intentional requires stepping back from day-to-day operations to analyze situations with a big-picture perspective. Without this broader view, entrepreneurs tend to become reactive rather than strategic.

This intentional approach enabled Adam to make clear decisions that aligned with his long-term goals. He credits this mindset with helping him avoid distractions and focus on what matters most. For entrepreneurs looking to succeed, Adam recommends bringing the same level of planning, optimization, and prioritization to personal life that many apply to their businesses.

6. Bias for action over endless consumption

One of Adam's key insights was distinguishing himself as a doer rather than just a consumer of entrepreneurial content. He noted that many aspiring entrepreneurs consume business podcasts and content believing they're being productive, but fail to take meaningful action.

Adam made a specific goal in 2023 to "become someone who does something rather than says something." This bias for action became a core part of his identity and approach to business. Combined with intentionality, this action-oriented mindset enabled him to capitalize on opportunities when they appeared and move quickly when the time came to start Mindstream.

7. Finding a newsletter niche through differentiation

Though Adam entered an already crowded space with over 1,000 AI newsletters on the market, he found ways to differentiate Mindstream. While competitors mostly curated AI news using AI tools themselves, Mindstream offered human-written analysis with editorial perspective on why the news mattered.

This differentiation proved crucial in standing out. Adam emphasized that people starting newsletters should recognize that a newsletter is simply a medium - the content delivered through that medium determines how it should be monetized. For general news curation in a broader niche like AI, advertising works well, while expert analysis in deeper niches might be better suited to a subscription model.

8. Scaling growth through paid acquisition strategies

After building initial traction through LinkedIn content, Adam invested in paid subscriber acquisition. They used Bhive's boost program, which matched their $2,500 investment for a total of $5,000 in credit for cross-newsletter promotion. This strategy quickly added thousands of subscribers.

Adam found newsletter subscription platforms like Sparkloop and Bhive offered subscribers for around $2-3 each, though these subscribers weren't always as engaged as those who found the newsletter organically. He noted that people who discovered the newsletter through direct advertising and made an intentional choice to subscribe tended to be more emotionally connected and valuable over time.

9. Choosing the right exit partner over maximum profit

When Hubspot approached Adam about acquiring Mindstream in April 2024, just 11 months after launch, he faced a difficult decision. Rather than focusing solely on the financial offer, Adam prioritized the strategic partnership and opportunities it presented. He noted that if offered 10 times more money from an unknown company versus Hubspot, he'd still choose Hubspot.

The acquisition created a full-circle moment, as Adam had initially been inspired by Sam Parr's sale of The Hustle to Hubspot. By joining the same company, Adam gained credibility, connections, and resources to grow Mindstream further. He believed the long-term value of being associated with Hubspot would ultimately make him wealthier than a higher immediate payout from an unknown buyer.

10. Balancing entrepreneurship with holistic life development

Adam directly challenged the common entrepreneurial advice that success requires sacrificing everything else in life. Instead, he found that building Mindstream gave him more energy for all aspects of his life. He became fitter, improved his relationship with his partner, strengthened family connections, and enhanced his mental health.

As his financial situation improved, Adam shifted his content consumption from predominantly "how to make money" to about 60% focused on "how to build a life." He and his partner are intentional about lifestyle inflation, prioritizing experiences like travel, health, food, and quality time together over material possessions.