(image of Simple Shapes vinyl wall sticker calendar)
As you know we are thrilled about our new book deal! And oh joy - the interviewing, writing & research has begun!
A big part of our book will be including stories, experiences, anecdotes & tips from women entrepreneurs and all of you! We will be posing weekly questions to help us with our writing and brainstorming.
Sometimes we will be soliciting a tip and other times a reflection on your own experience.
When you work for yourself it can be a bit challenging to identify your most productive and energizing work patterns. What have you found works best for you in terms on structuring your work day and week?
We’d prefer if you reply in the comments because it makes the conversation richer and I think you’ll see that you’re not the only one with the same insights or challenges! If you’d feel more comfortable sending me an email, you can do that too. Adelaide@
Today we are talking about new publishing platforms and advertising trends.
How does the Inside Source fit in with other media, publishing, and retail trends?
As traditional media undergoes a major transformation (and let's face it--a shrinking--think of all of your favorite magazines that have folded in the past year!) the door has opened for a new class of publishers to emerge. At the same time, many non-media companies are taking their consumer messaging into their own hands and going directly to the consumer. Given the passionate community around the eBay brand as well as the insights gleaned from the company's shoppers, eBay is in a natural position to take this next step.
Further, because eBay is essentially product agnostic (it's not trying to get rid of inventory or push one brand over another), it's also perhaps a more reliable media source than traditional retailers who might put out catalog-like magazines in a similar vein.
What do you expect to happen in the media and publishing world over the next few years? What can we expect?
The million dollar question! There is a fundamental business model problem in media right now: Advertising is falling tremendously, yet beautiful glossy magazines and TV dramas are expensive to produce. Online advertising is much less expensive, but the quality of the content is often not up to par. These days, anyone can be a producer of content. This is a great thing in many ways, but it also means that it's harder to sift through the rubble for the consumer--and the advertiser (which already has less money to spend) has to make its dollars go even further.
I don't know what the answer is, but I do think we can expect more advertising to move online. Also, as technology develops (first online and soon after on television) that allows advertisers to target specific users based on their past viewing/browsing behavior, publishers will be able to squeeze more out of their advertisers.
What advice do you have for small business owners like us when it comes to media, publishing, and online buzz?
Don't underestimate how large you have to be to make money on the internet through advertising. There are very low barriers to entry to starting a website, which means anyone can do it--and there is a lot of competition out there. For the most part, you have to be huge (at least 1m uniques/month--maybe more) to get real advertisers on your site. You can get google ads and sign up for an ad network, but you won't make much money that way--just pocket change.
You should think about other ways to partner with potential advertisers--perhaps by integrating them cleverly with your content. Or build a very targeted site with a specific advertiser base that wants to reach your audience.
Of course sometimes, a in the case of The Inside Source, a website (or other media entity) is not always about driving direct revenue to a company. Sometimes, it is more about changing brand perception or promoting a particular program. It’s just important to be clear on your goals—and expectations—when you go down the publishing road.
As far as gaining a following...it you build it, they won't necessarily come! So think carefully about your online marketing strategy before you launch.
We thought of 3 other product oriented platforms who we think “editorialize” well and in ways that both add value to the customer and create more affinity.Each one of these businesses operates in a different market, speaks to different audiences, and editorializes in their own unique way.
TadaShop provides a collection of curated children’s wear finds from hundreds of brands and offers readers a one-stop shopping experience in addition to trend pieces, articles, and special picks.
SheFinds is a fashion blog complete with buying guides, trend pieces, and deal alerts.
BottleRocket which seeks to simplify the wine shopping process, making it more fun and intuitive (and of course, less overwhelming and pretentious).
(PS…BottleRocket is our favoritest wine store and our April inFOCUS business!)
Think that this approach only applies to product companies? Think again! Next week we share some service-based examples that are excelling using a similar approach.
As you know we are thrilled about our new book deal! And oh joy - the interviewing, writing & research has begun!
A big part of our book will be including stories, experiences, anecdotes & tips from women entrepreneurs and all of you! We will be posing weekly questions to help us with our writing and brainstorming.
Sometimes we will be soliciting a tip and other times a reflection on your own experience.
First up…
We’d love to know what you have found most surprising about your experience as an entrepreneur!
Unexpected?
Challenging?
We’d prefer if you reply in the comments because it makes the conversation richer and I think you’ll see that you’re not the only one with the same insights or challenges! If you’d feel more comfortable sending me an email, you can do that too. Adelaide@
Last week I attended a wonderful talk by Nancy Ancowitz about her book "Self Promotion for Introverts". According to all assessments I have ever taken, I am an off-the-chart extrovert. That is to say, I am energized by being around people.
An article by Laurie Pawlik-Kienlen states that "extroverts are interested in what's happening outside themselves: their surroundings, people, noises. Extroverts don't tend to enjoy spending time alone, and they get their energy from other people. A significant extroverted personality trait is that energy flows outward.
But as it turns out, I am in two significant relationships with introverts - my husband and my business partner. And that is why the book is so fascinating for an extrovert.
Perhaps my unconscious choice of partners was more deliberate than I thought - they both listen to me! That being said, they are both very social (as far as introverts go) and that is probably why we get along. In other words, they can both keep up with me.
Some of my takeaways were to let the introverts in your life speak! That means for me to shut up. Introverts prefer to think before they speak. So sometimes, they need a minute to organize their thoughts. That does not mean that their silence is an opportunity for me to start talking again.
Oh yea, and while I am at it, they do not really like to be interrupted either. I find that since I like to think aloud, I often dictate a conversation that I think they should have. How annoying! I am going to work on letting my introverts think for themselves. Chances are, they give more thought to what they want to say that I do at times.
Finally, a great take away for me was to be aware that I have certain style preferences and introverts have different style preferences and that we should work together to meet half way.
Thanks Nancy, great book for all of the introverts & extroverts out there!
We are Adelaide Lancaster and Amy Abrams. We run a community and workspace for women entrepreneurs in NYC. This blog helps us share interesting news on small business ideas, models, resources, and innovation with our members and other entrepreneurs.
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