For the price of lunch, we hired many private consultants. For example, over soup and salad with an ad agency media buyer we set our rates for ads. During lunch with the owner of a business weekly we learned how to hire and pay advertising salesmen. (Note: We generally treated our consultants to restaurants with white tablecloths.)
Write a Marketing Plan
After we published our first issue, we put together a marketing plan. For demographics, we called schools for enrollment figures, got birthrate statistics from the state health department and census figures from the regional economic-development agency. A survey in the magazine generated a profile of our typical reader.
We worried about putting it all down in the proper format, but we found that the most important thing is to get it on paper -- unless, of course, you are presenting it to a bank or other lender. (Although we never actually did it, the exercise of writing a business plan would have helped us clarify our ideas, pinpoint our weaknesses and generally would have saved us time.)
Write a Marketing Plan
After we published our first issue, we put together a marketing plan. For demographics, we called schools for enrollment figures, got birthrate statistics from the state health department and census figures from the regional economic-development agency. A survey in the magazine generated a profile of our typical reader.
We worried about putting it all down in the proper format, but we found that the most important thing is to get it on paper -- unless, of course, you are presenting it to a bank or other lender. (Although we never actually did it, the exercise of writing a business plan would have helped us clarify our ideas, pinpoint our weaknesses and generally would have saved us time.)