The print publication market was worth around $46 billion in 2007. But today, that figure is around $28 billion or less. If you’re still keen to get into the magazine industry, the future is online.
The good news is that learning how to start an online magazine is much easier than starting a physical one. And it’s far cheaper, too!
But the accessibility of the internet means it’s an oversaturated place. You need to know exactly what you’re doing to create the best online magazine in your niche.
Not sure how? Follow this step-by-step guide to starting an online magazine to put your best foot forward.
Step 1: Develop a Business Plan
All types of businesses need a business plan even if you don’t have investors. They help you get clear on exactly what you need to do to make your business a success.
Include the following information in your business plan:
- Name and tagline of your magazine
- Brief synopsis/overview of your business and niche
- Company team structure and responsibilities
- Revenue/income stream projections
- Growth and profit predictions
- Market research
- Marketing plan
- Timeline of business growth over the first year
When you’re figuring out how to start an online magazine, there are two clear income methods. The first is to create a free website and rely on advertisements for profit. Or, you can create a pdf document behind a paywall that you release weekly, monthly, or quarterly.
It’s key that you don’t forget to do market research. Many businesses that fail in the first year are because there is no demand for their service. Read about digital publication demands from readers of digital magazines here.
Step 2: Set up the Website and Branding
No matter which type of online magazine you want to create, you will need assets. These are things like a logo, branding, layouts, a website, and social media accounts. You may need to hire a website and graphic designer to assist you with this step.
Step 3: Organize Your Employees
If you have intrinsic entrepreneurial traits, you’ll know it’s better to start small and scale up later. So, you may wear a lot of hats during the early months of your online magazine. But as you grow, you may want to hire people.
These are the positions you may want to include on your team:
- Content assistants, writers, and editors
- Photographers and graphic designers
- Sales and marketing executives
- Community manager
- HR executive
- Finance team
Don’t forget that you can hire freelance staff until you’re ready to take on full-time employees.
Step 4: Publish Your Content
All that’s left to do is to create and publish content! Most magazines post helpful tips, interviews, opinions, and news stories related to their niche. It may take a few months to gain a loyal readership but you will get there.
That’s How To Start an Online Magazine in Four Simple Steps
Figuring out how to start an online magazine is much easier than starting a physical one. That doesn’t mean it’s easy, period! But as long as you follow these steps, you will soon get your creative online business up and running.
You need all kinds of savvy skills to run a successful online business. Browse our tech and finance articles for tons of helpful ideas and advice!