Writing a business plan for a magazine publication is a unique endeavor. Where other businesses are focused more on extrinsic value to customers, magazines have to write a business plan that focuses on intrinsic value and content delivery. Many publication start-ups have a hard time translating this value into the financials and forecasting portions of a business plan, and if they are going for a loan or investor to financially support, not having hard projections can cost them the investment.
Despite being a more creative business type, magazine entrepreneurs can struggle with clarity on the target audience and best delivery methods for content. Thorough SWOT analyses, demographic and psychographic profiling as well as cohesive planning on marketing costs (and potential inbound marketing revenue) should all be part of the business plan. Unfortunately, publication owners don’t typically know where to start on these points, or just need a little help with perspective on these areas.
My business supports these start-ups with everything from realistic forecasting, to guiding them through clarifying their target audience and best content delivery strategy for their niche, and understanding how to evaluate the competitive space to secure their place in the industry. Your magazine entrepreneurs will benefit from my free templates, seminars and consultations. I also offer paid 1 on 1 business plan development services for those who need it.