Women-Centered Media Company
Startup Costs: Under $2,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Franchises Available? No
Online Operation? Yes
Our expert says that women’s health has been underserved, underfunded and under-researched. One way to serve these needs (and create a profitable company in the process) is to build a platform that connects founders, investors, researchers, advocates, healthcare professionals and corporate innovators.
Femtech Insider is the globally leading platform for women’s health innovation. for too long and we believe it is time to change this. Femtech Insider and anyone else interested in making a difference in women’s health.
FemFounder.co is a publishing platform that elevates the voies of underrepresented female entre3preneurs while teaching them how to start, run, and scale their ventures.
What is the first step to getting started?
Marquet: What are the current trends in the women's media industry, and what type of person is a great fit to try this?
Folkendt: Women’s health is a nascent industry and definitely on a growth trajectory. The healthcare system as it is today doesn’t address the needs of women and other underserved populations as it should. Women demand and deserve better diagnostics and care, simply better health. I believe anyone passionate about a specific space would be a great at building a media company in their niche of choice. It takes a bit of patience too, though to build a brand and attract regular readership.
Marquet: Starting a digital publishing company and community isn't that difficult. It's a great way to establish your personal brand and reach a larger audience. Here are the steps I followed to get started.
1) I researched what topics were missing in the marketplace and I choose a topic that was relevant, timely, and interesting--the topic was digital marketing and publicity for female founders looking to scale to that first $50,000 in their businesses.
2) I started to write long-form content that enticed people to visit the website and come back and read more posts.
3) I focused on social media, namely, Pinterest and Instagram to grow my readership and audience. To use Pinterest for email list building, I followed these steps:
- Created a board dedicated to the topic of the email list I wanted to build
- Added images that enticed people and made them want more information
- Linked back to every piece of content on the website
- Used pins from other people's boards in order to create new ones
For Instagram, I followed these steps to start selling:
- I created a unified theme
- I focused on audience growth and engagement
- I started using Stories with strong calls to action to entice people to click on my Stories
- I used the power of Reels to showcase who I am and my areas of knowledge
4) I created an email list so that people can sign up for updates on new content.
5) After I had the first 10 pieces of content published, I started interviewing female founders and entrepreneurs who wanted to tell their stories but had difficulty doing so on other platforms. Since I launched the platform in 2017, I've interviewed over one thousand female founders, leveraged those interviews to reach more readers, and monetized the platform through an online course, digital products, and sponsored posts. Growth has been about 40 percent YOY since 2019.
What are the trends?
Marquet: Trends in online publishing are constantly changing and evolving. With the changes that come with the advancement of technology, there are new ways to publish content that was not available before. The trends have changed from print to digital and now AI. AI is growing in popularity. Chatbots are also growing in popularity as this software allows people to communicate with them in a conversation-like manner. They can answer questions, make suggestions, and provide feedback on content without any human intervention. The changing nature of online publishing has also seen a surge in new ways to consume content like podcasts and videos. As publishers try to stay ahead of these trends, they are constantly looking for new ways to engage their audience online.
How much money can a person expect to make in the first year and in five years?
Marquet: It depends on their effort but it's not out of the question to have $50K to $100K the first year and scale to seven figures but they need to have the right knowledge and expertise--just like anything else.
Folkendt: That really depends on the business model. Are you monetizing through ads, sponsorships, and affiliate income only, or are you also consulting in the space? I believe that a media company can definitely be a seven-figure business within 5 years.
What kind of experience/training do you need to have?
Folkendt: An understanding of the space you’re in is the most important asset. Besides that, it’s helpful if you enjoy writing, have basic online marketing, SEO and technical skills.
Marquet: This person needs to be well versed in digital marketing, content development, and social media marketing. This knowledge allows them to create and distribute content, build brand awareness, and gain insights into customer behavior without spending tens of thousands of dollars on hiring consultants, coaches, and an agency. This knowledge also allows them to build relationships with people who have similar interests.
What do you wish you knew when you were just starting out?
Marquet: I wish I would have known that being an online publisher is not for the faint of heart. There are so many ups and downs in this journey. You will be faced with tough decisions and you need to trust your gut instinct a lot more than you think. The best advice I can give to anyone who is considering starting this career is to take it slow, start small, don't spend a huge budget on advertising, and make sure that you have a plan before moving forward.
Folkendt: What you focus on will grow. I wish I had focused on Femtech Insider full-time earlier on.
Who are your customers and where do you find them?
Folkendt: On the consulting side, we work with corporate innovators, VC and PE firms as well as other consulting organizations. Our advertisers are usually organizations already active in our space or looking to break into women’s health who want to promote their offering to our audience. Most of our customers find us online, join one of our mailing lists and eventually decide they’d like to work with us. Most of our business is inbound as this point in time.
Marquet: Our customers are female founders in their first, second, or third years of launching their businesses. They are looking for digital marketing, social media marketing, and publicity guidance that's affordable and effective because they don't have the resources to hire a professional or outsource the work. Most of our new customers find us on Google, Pinterest, or Instagram.
What type of growth can be realistically expected year over year?
Marquet: For those publishers who have their business models refined, audiences defined, their brands unique, and have carved some type of niche, it's not out of the realm of possibilities to grow financially 30 to 40 percent per year.
Folkendt: I believe media companies generally tend to have a slow start and then experience exponential growth. It is definitely true in our case for both our traffic and our revenue.
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