What’s the first step in starting a magazine?
First, confirm your commitment to what will likely be a minimum of 2 years before an exit strategy can be realized. Next, develop your core strategic plan to a point where you can perform a feasibility audit. Next, talk to a limited private (NDA signed) set of potential investors, partners, employees, & vendors about the plan. Go or No-Go decision required at this point and if you don’t have a strong interest in backing/joining you at this point, then do more work on the basic strategic value to market plan. Your concept at this stage should show value to advertisers who will invest 5K to 50K to sponsor/advertise year 1. Unless you’ve got other investors, you’ll need to be able to sign advertisers every month, even before you launch your website. Understand your target readership needs. Confirm they don’t have other market options to receive the content and/or format and they want this information enough to read whenever it arrives or even pay for a subscription.
Pass this phase and it’s time to start the formal business and marketing plan elements and details.
-David Blankenship, Magazine Publishing Consultant