Fully Prepared, You May Succeed

Yes, people are still launching magazines. As I mentioned in a previous post, Samir Hussni wrote in his March 1st, 2009, article for Publishing Executive magazine that in 2008, for every magazine that closed its doors, 20 new magazines were born. Today we are all asking the question: how many of them are succeeding? It may be too soon to tell at this point.

In today’s environment, launching a new magazine requires a strategic approach for sure. A great idea for a magazine is a good start, but certainly not all you need. Without the proper research, business plan, strategy and publishing experience, the magazine is not likely to succeed.

Many individuals have a great idea for a new magazine. Unfortunately, they are not often equipped with the knowledge, tools, funding, and publishing expertise to get it off the ground. Any new magazine needs a strategy behind it to give it a fighting chance. Although nothing can guarantee success, it is important to follow a process that builds on a strong foundation.

That said, DO NOT begin with design. Starting with the design of the prototype can waste money and creative energy. Design without proper planning behind it is like drawing with chalk on the sidewalk. A little change in the weather and it can all be washed away. With the proper business plan and strategy, you can feel more confident developing an effective structure for your publication.

Creating the strategy up front can also make the ultimate look and feel of your print or online magazine stronger and more unique. If you outline a thoughtful strategy and clear goals for the designer, you are much more likely to get something really well designed that your readers will love. This applies to both print and online magazines.

Launching an online-only magazine, however, takes a much different strategy. Although there are no costs for ink, paper, postage and distribution, it has its own set of challenges and costs. If this is the right medium to choose for your reader, it is still important to ask strategic questions of yourself to determine your plan.

The backbone of your magazine—the mission statement—should always be written during the strategy and planning phases. These few sentences will define the publication—how it is different from its competition and what its benefits are to the reader. When you start to write the mission statement, it will become apparent why you need the planning and strategy. See my article “Mission Critical” for more on that.

If you want to launch a magazine, start by asking these questions to identify areas of strength and weakness:

• Have you written a business plan?
• Have you written a mission statement?
• Is the target reader clearly defined?
• Does the target reader have a need for this magazine?
• Is anyone else in the same competitive space? If not, consider why that might be.
• Where will the funding come from to launch and sustain the magazine?
• What is the revenue model for the magazine? How will it make money?
• Will you sell ads in the magazine? Who will sell them?
• How will you charge for content?
• How will the magazine be distributed?
• Should the magazine launch in print and online, or online only?
• Do you have an editorial strategy?
• Where will the content come from?
• Who will design the magazine?
• What staff will be necessary to produce the magazine you are planning?

There are many resources out there to help you answer all of these questions and help you put together a solid strategy. Working with someone who knows all of the details to consider can really increase your chances of success. It’s often money well spent, especially if the analysis shows that you are not ready to launch. Think of the cost savings of not launching a failure.

Here are a few resources to check out if you are thinking of starting a magazine:

www.magazinelaunch.com
www.mastheadonline.com
www.foliomag.com
www.magazine.org
www.mediabistro.com

This could be a good time to launch a magazine if you have solid answers to the important questions. If you are a determined publishing entrepreneur, go forth with creative ideas and a solid plan for success founded on research, substance and strategy.

This series will continue on to explore topics such as naming, prototypes, style guides, and more.

Related articles in Align:
• Mission Critical

Read more posts by Debra Bates-Schrott