Well, it has been a while since I've been back here. Things have been hectic for quite a while, and I've let some things go. This was one of them, and the one I regret the most. But I'm back, hopefully to stay.
It's been a whole year since I started this crazy thing. Actually it's been more like a year and a half, but I just submitted my first year's corporate taxes, so I call that the end of year one. For those of you who don't do your own taxes, it is every bit as horrible as you have been lead to believe, especially if you're not that good at keep records, like me. I really need to work on that.
In any case, I now know exactly how well (or how badly) I'm doing. The news is not great, but it's also not all that bad either. I did suffer a loss, but it was under $3000. That's significantly less than $300 a month. I don't want to continue perpetually like that, but for now I can afford it.
The loss is not terribly surprising. Last year it was a constant struggle just to get enough content to fill a bimonthly magazine. This year my goal is to increase readership of the free edition (sign up today at www.speculativefictionstories.com wink wink nudge nudge) and to build some awareness for the premium paid version. Things are going a little better than projected really, since I actually made some sales this year. I hope to continue that trend.
For those who feel that $300 a month (well, closer to $250 but I prefer to round up on these things), is too much to lose, and unaffordable, take heart. I haven't done everything totally on the cheap. There are a lot of areas where I could have cut costs. My hosting and merchant services total about $60 of that $300 a month, so 20%. You can reduce hosting to about $5.00 a month and merchant services to no set fee by using freely available services. You just wouldn't be able to accept credit cards directly, only through a payment processor like Pay Pal. There's nothing wrong with that, it just wasn't the way I wanted to go.
I also did make some payments for advertising, and it has borne some fruit. I've been using Aweber, a paid auto-responder, lately instead of free alternatives too. And I've got my Trueshare account for when I need it. Those things all add up and are not necessary for all business models.
In fact, about the only thing that really is necessary is a web site (so around $5 - $10 a month, less if you can pay a year's worth up front), and something to sell. Everyone has that last one, they just don't know it yet. We're all experts on something. We can all make something that some group will be willing to pay money for. All I did was go out and do it. There's nothing particularly complicated or epic about what I'm doing. I'd bet pretty much anyone could do it too if they really wanted to. And I'm happy to offer advise and guidance as much as I can to anyone interested.
Now, moving forward into the new business year. I'm going to be adding my site to as many e zine directories as I can find. Yes, it\s been 18 months and I've only just thought of this now. Rethinking that advise and guidance aren't you? I'm also going to be making my presence known at conventions, including a plan to get a table at Edmonton's own Pure Spec. Not sure what all I'll have available for people to look at and hopefully purchase, but I've got some plans.
I'm also going to be offering audio copies, print copies and CD archives of the magazine. I've found an economical way to produce and market the physical items through Cafe Press (yes I also just found out that they do Publish on Demand books and Data and audio CDs).
So, the coming year is looking bright. I may even have losses of less than $1000 this year....no, wait, dream big...I may BREAK EVEN THIS YEAR!!!!!
Here's to the coming spring. I live in Edmonton. It hasn't arrived as yet.
