Some encouragement is in order these days. For many years the publishing industry consisted mostly of privately held, entrepreneurial companies led by individuals who were passionate about their industry. They did what was best for their readers, advertisers and employees. They were willing to invest for the long-term, they didn't have any get-rich-quick by slaying-the-golden-goose schemes...and they were very profitable. Then Wall Street took over, instant profit ruled and we all know what happened...
But lately I see indications that our industry is returning to its roots. Granted, a lagging economy and a bucking bronco internet still challenge us, but many of the price-cutting short-term-profit seekers are gone. The entrepreneurial experts who are passionate about their market and interested in treating people fairly are gaining ground. This is the first in a series of success stories of these publishers, those who are doing what has always made publishing great and are reaping the profitable rewards. If you are one of these successful publishers please contact me
ksimonsen@mediagrowth.com so I can share your story to encourage others.
Success Story #1
Paul Bowers worked at Cygnus Business Media for many years as a Publisher, Group Publisher and Vice President. As an expert in publishing, he rose to positions of influence even as the company went through rounds of dramatic changes as it bounced from investor to investor. Then, in one of the corporations many downsizings, Paul was laid off. Instead of crying the blues, working for a company he didn't like, or searching for a job that didn't exist, Paul decided to enter the ranks of the entrepreneur to make use of the knowledge and contacts he had acquired over the years.
He created a magazine in 2008 in the field he knows best; aviation. He called it Airport Improvement,
www.airportimprovement.com. He recognized that the airport field had steady growth thanks to federal government funding. Having spent many years in the field, he was able to identify the needs of the market precisely and use his connections and understanding to gain rapid credibility.
Following the principles of good publishing, Paul insisted on providing quality editorial written by experts in the industry. He offered a targeted circulation of buyers and influencers to his industry's advertisers. He relied on his contacts in the industry for helpful ideas. For example, the name of his magazine came from a friend and fellow publisher, the editorial concept from a former boss. Handling most sales effort himself, he communicated the value of his publication to both readers and advertisers He does not discount rates. Instead, he offers a quality product that they realize they must advertise in.
Paul's magazine was profitable by the end of his first year. And he has had a phenomenal second year despite on-going economic turmoil. Amazingly, 90% of his advertising is print. He is following the basic principles that publishing has always been based on.
While the b2b landscape has changed new opportunities and a great ROI still exist for magazines delivering value to advertisers.
Author