Startup Costs: Under $2,000
Home Based: Can be operated from home.
Franchises Available? No
Online Operation? Yes
The average amount of time world citizens now spend online each day is seven hours, and if the last five years of ecommerce have taught us anything, it’s that there is a simply unrelenting thirst for new content out there. There’s still considerable potential is branding yourself and your new digital publication as a thought leader in an enormous diversity of subject areas, with six-figure income possible even in the first year of operation.
Ask the Expert: Greg Reynoso, Founder of Linq Magazine
What is the first step to getting started in the digital publication industry?
Begin by comparing among then choosing a web hosting provider, and be sure to leverage resources like YouTube and blog articles to help find the best host for your budget. Second, spend time determining what the mission of your digital publication will be, as well as the overall company vision. Defining both well will allow you to stay the course through launch and beyond.
Spend time defining the type of content you would like to publish, and I recommend writing about topics that fall within your personal interests. The last early step you want to complete is choosing a name for your publication, not least because a name search can be one of the most time-consuming tasks to complete when launching a new brand, including searching for an available domain name and matching social medial handles for the social media platforms that you intend on leveraging. I recommend choosing a name that’s to-the-point and easy to remember, utilizing a maximum of three words.
When choosing your domain name and social media handles, I recommend matching the various handles. For example, I registered linqmag.com as the domain name for my digital publication, and was able to match all of the social media handles as @linqmag. Think about how your end user will find you online, and so avoid using long naming conventions with special characters that will make it difficult to find your brand online. Once you have determined what your domain name and social media handles will be, register that domain with the web host and create your new social media accounts.
Is the industry growing?
In my opinion, there is always a need for a fresh perspective on what's happening around us. An overarching trend in the publishing industry, and online media more specifically, seems to be larger media organizations acquiring other publishing companies. I would argue that based on my experience, the industry seems to be at a flat rate of growth due to the competitiveness of capturing audience attention spans.
What type of person is a great fit to try this?
I would recommend this business to someone who is a thought leader, or to someone who has a strong passion for a particular subject. I would recommend launching a digital publication to anyone who understands the digital advertising space, too, as well as the capabilities of audience data.
How much money can a person expect to make in the first year and in five years?
It’s reasonable to expect first-year revenue in the six-figure ballpark. Within five years, you could expect to be in the seven-figure range, but the success of your company depends on how effectively you build up and engage an audience, of course. Also, think outside of the box for revenue streams, including merchandise, professional services and a branded show on YouTube or as a podcast.
What kind of experience/training do you need?
The ideal candidate should possess a general understanding of how a website works. An individual experienced in writing, search-engine-optimization and digital marketing would more likely excel, in my opinion. Although you may hire a subject matter expert to handle these tasks, possessing a general understanding as a founder will help you understand how they all help foster longevity and revenue.
What do you wish you’d known when you were starting out?
To be more patient. I can count using all ten of my fingers the number of times I was thinking about shutting down Linq Magazine. The last time I had that thought, it was during the pandemic, and luckily, I did not follow through. Months later, it felt that the last decade or so of work finally paid off — the magazine was gaining the recognition I’d long expected it would.
Are there any resources you recommend that were extremely valuable in getting your business off the ground?
Starting out, I relied heavily on YouTube videos. I was fortunate enough to be a web developer, which helped make the buildout process faster and at a lower cost than if I’d hired a developer. If you don't have that experience, I would rely on YouTube tutorials and also follow your favorite digital publishing companies: Note how they operate, including any types of revenue streams that you could adapt to your own brand.