Bootstrapping the media (Part 3)
After reading this recent op-ed from green publishers Josh P. McClary and Jessica Sanchez of Kedzie Press, I was reminded again of the reasons I'm so happy to be in the non-paper publishing media industry at the moment.
But in truth, it occurred to me at the same time that one of the keys to bootstrapping a media business in the early days is avoiding some of the capital intensive publishing and mass producing that until recently was part and parcel of a media business.
For this reason bootstrappers interested in entering in entering the industry should:
• Look for ways of marketing your message and content without spending a cent at first-use of blogs, print on demand and downloadable content services make this a simple prospect.
• Look for ways to monetize first and mass produce second-think of the difference between starting a small magazine or newspaper with revenue from a successfully monetized blog site versus a conventional product that must be printed in large volume first only to later determine whether it will make a profit.
• Look for means services that allow free download of content-try to offer that book, film, podcast, music album as a download file first before you think about producing copies.
I'd like to hear what you think. Are you launching a media related business using innovation and new technology? If so, offer some of your own advice in the comment section below or e-mail me some ideas and we'll make it part of a future post.