How to Arrange a Publishing Company
The Internet revolution has upended and transformed the publishing industry. Every year, more newspapers, magazines, trade journals and newsletters cease publication in print and move online. Even the longstanding and prestigious journal "Editor & Publisher," a bible of the industry for decades, folded in 2009. However, new opportunities abound for publishers who want to address the publishing markets of the future with competitive content and a well-managed business. A key to success is an effective organization.
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Instructions
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Take charge. You will run the show as publisher, an industry-specific title that equates to CEO in any other business. It's up to you to set the operational, creative and sales and marketing standards for the organization and its publications. Department heads such as your editor in chief, advertising or marketing manager and business manager will report to you.
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Create an organizational chart. Publishing companies are structured with three foundational components or capabilities. Your editorial department will develop and manage the content in your publication or publications. Your success or failure will depend in large part on the quality and relevance of your content. For example, if you're publishing a new trade magazine for the meeting-and-convention industry, you'll have to produce content at least as good as that in established publications such as "Meetings & Conventions" and "Successful Meetings."
Your marketing and sales department will be responsible for extracting as much revenue as possible from advertising sales. If you publish a traditional magazine, you might also charge an annual fee for subscriptions. If you publish specialized, exclusive content online, such as detailed information and market analysis for individual investors, then you can also charge a monthly or annual fee for access.
You will handle the business management function as publisher or CEO. You'll need a good business manager and executive assistant, as well as a qualified outside accountant with media or publishing experience.
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Hire a top-notch editorial team. Your editor in chief will be directly responsible for the content of your publication or publications. Depending on the frequency and length of your flagship publication, or the total number of publications you have, you will also need a managing editor. The managing editor's job is to keep production flowing against regularly occurring publishing deadlines. If you plan to produce multiple publications with monthly (or even more frequent) issues, you'll need an associate, or entry-level, editor to handle daily details for each publication.
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Find experienced writers. Look for those with specific experience in your field. Writing about contemporary topics such as technology, education, politics, media or the travel industry requires at least a sense of general knowledge and context in order to be credible and compelling. Use freelance writers to achieve maximum cost effectiveness in your overall editorial operations. Established sources for freelance writers include Freelance Writing Jobs and Online Writing Jobs. You can post paid ads at Journalism Jobs, aimed at experienced professional journalists.
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Make a key decision about whether you will publish in print or only online, or both. Since 2009, major publications such as "PC Magazine" have ceased print publication and moved online. As a general rule, all trends point to the eventual extinction of printed publications. Unless you have unique or specialized content that will draw a fiercely loyal audience that will also pay a premium price for it, opt for online publication. The essential business -- the creation of innovative, market-leading content -- remains the same. There are just no bills for paper, printing and postage.
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Create a marketing and sales department with a proven track record exploiting your specific business model. For example, publishing books or a magazine sold on newsstands will be quite different from publishing a comic book or online journal. You'll need specific expertise and experience for each. But all publishing except book publishing has one key thing in common: Whether you publish in print or online, or both, your most important revenue stream will be advertising sales. In print, advertising is sold in units such as a full page, half page or quarter page. Online, advertising is sold as banners of varying sizes or shapes, or as other visual representations on your website. Increasingly, online advertising is paid for according to how many of your readers actually click through to the advertiser's website. In either case, you'll need an advertising manager with a deep understanding of and experience in that environment. In turn, your advertising manager will hire a sales force. To attract qualified salespeople, you'll have to pay a draw against commission. But ultimately, their compensation will be in the form of commissions.
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