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The following questions, while not intended to be all-inclusive, provide an overview of things you need to know to plan a successful subscription newsletter launch.
. How much capital do I need to launch a newsletter?
. Should I incorporate my newsletter business? Is a "C" corporation best or is a subchapter S corporation just as good?
. What are the tax implications and tax-shelter options (if any) in newsletter publishing?
. Do I understand the differences that cash and accrual accounting can make for a newsletter business?
. Is it easier (or more efficient) to enter the newsletter business with an acquisition rather than launching from scratch?
. Who is going to subscribe to this newsletter?
. How am I going to reach potential subscribers with my marketing effort? (This and the question above get special emphasis, and could well be placed first on the list. If you can't answer these questions, then you aren't ready to launch a newsletter!)
. How well do methods other than direct-mail work? (And for what types of newsletters do these other methods work?)
. Where will I get the lists I need to do direct-mail promotions?
. Will compiled lists work for this newsletter, or do I need to seek out response lists?
. Where can I learn what the competition is for my newsletter and how important is the amount of competition already in place?
. What rules, if any, govern setting my price?
. What sort of offer should I make with my first mailing? Full-year, paid trial, no obligation trial?
. Should I accept unpaid offers? Take Credit Cards?
. Should I mail my promotional mailing first or third-class?
. When is it effective to include a sample issue with a promotion?
. Do long, long sales letters really work to sell newsletter subscriptions?
. Should my offer include a premium? (Is an editorial special report premium better than a solar calculator?
. What type of response rate should I expect? How different is that response for business and consumer newsletters?
. What type of postal permits do I need for my newsletter operation?
. What publishing frequency is best for a new newsletter?
. Are there any rules about the format of a newsletter? (Number of pages? One vs. two columns? Ragged right or justified? Typeface and size? Serif vs. sans-serif? Headlines? Photos?)
. Is the "typewriter copy" newsletter dead? Must I produce at least a "desktop" typeset newsletter in 1998 and beyond?
. Am I legally required (and/or how strongly is it advised) to copyright my newsletter? Register my title as a trademark? Apply for an International Standard Series Number (ISSN)?
. What type of publisher's insurances (libel, errors and omissions, etc.) do I need?
. What banking relationships do I need? How likely am I to be able to get a loan or establish a line of credit?
. Should I set up credit card accounts? Will I need to be able to handle foreign checks?
. What are my chances for success?
(We will answer the last question here. Such statistics as exist indicate that the chances of success in launching a new newsletter are pretty close to 50-50, which is better than a lot of other types of small businesses.)
For more information on launching a new newsletter, order SIPA's "How to Launch a Newsletter" report by calling NEPA at (703)527-2333 or order online in NEPA's Bookstore at www.newsletters.org
Composed: 07/14/2004 | Modified: 07/14/2004 |
