Should I Start My Own Publication?
Prepare for hours of work.
I have lost count of the number of times our community has asked me, "should I start my own publication." The honest answer to that is "I don't know".
I can, however, give you some information that may help you decide either way; as you know, I run two publications with a devoted "A-Team" of editors, and for me, they are the key cogs in the big wheel of a publication.
Francesca Dallaglio Sally Prag Andrey Pilipets Marilyn Glover
If I could give myself some advice having the knowledge that I now have, I would change some of the decisions that I have made. I could have made better decisions that I believe would enhance the publications.
I believe that to run a publication; you need the following skills and characteristics to succeed:
- Ability to multitask
- A backbone to absorb abuse
- A humble character with an objective nature
- A minimum of 10 hours a week for editing, more as your publication grows
- Understand marketing and promotions
- Editing skills
- Writing skills
- Money to invest in your publication
- Creativity
I decided to "go for broke" and, to date, have invested over $2,000 in my publications through programs, equipment and prize money. I have also invested in future expansion, which I will reveal in due course.
I would suggest that you don't need to invest money if you already have the tools you need, but knowing marketing as I do, you have to speculate to accumulate.
I have taken two very different approaches with my two publications; New Writers Welcome is designed to grow into a significant publication, whilst "What is love to you" has been designed to develop more organically.
I have a background in finance, marketing, management, sales and training, some of which you may see through my writing and comments. However, I do believe in "the underdog" and love to see growth and development.
I would suggest there are pros and cons to having your own publication, which I will list below for you:
Pro
- You decide what you publish.
- You choose the rules (expect push back)
- You are the only person with full access.
- Success is down to you (and your team if you have one)
- It can be very rewarding
Con
- The hours of editing means you will write less.
- It can consume your life, and it can be long hours.
- Bringing in an editing team you trust is very hard.
- Prepare to attract haters; people are jealous.
- If you do not come up with fresh ideas, people will leave your publication.
- Attracting new writers when you start your publication should not be underestimated; it is challenging; most publications (90%) fail, then close because of it.
I will reveal now that I have often thought about closing one of my publications; running two is tiring; I have a friend who started 4 to 5 publications and burnt out very quickly.
She had to walk away from Medium but thankfully is now back, having closed them down to concentrate on just one publication.
The other friend who started a few has never returned, and I hope she is well; I miss her dearly. Medium can be very demanding, and I enjoy writing more than editing.
Most people think they can run a publication, 90% fail; I currently spend around 20–30 hours a week on Medium running two publications and writing articles.
I wrote this article to give people some inside information on how I work and my demands as a publication owner; other owners may work differently.
Kim Rody I wrote this for you; I hope it helps. You will have my support whatever you decide.
Written by Robert Ralph
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