hi I’m Evan Carmichael welcome to another edition of ask Evan did I
another edition of ask Evan did I
another edition of ask Evan did I mention a question from one of my face
mention a question from one of my face
mention a question from one of my face book readers godson who wrote in saying
book readers godson who wrote in saying
book readers godson who wrote in saying I want to go into the magazine
I want to go into the magazine
I want to go into the magazine publication business and I don’t have
publication business and I don’t have
publication business and I don’t have any capital of my own to start off but I
any capital of my own to start off but I
any capital of my own to start off but I need your advice and how to go into
need your advice and how to go into
need your advice and how to go into magazine publication so thanks for the
magazine publication so thanks for the
magazine publication so thanks for the question and it’s great to see you on
question and it’s great to see you on
question and it’s great to see you on facebook i love my facebook readers two
facebook i love my facebook readers two
facebook i love my facebook readers two quick tips for you first I would look at
quick tips for you first I would look at
quick tips for you first I would look at going to find a job working for somebody
going to find a job working for somebody
going to find a job working for somebody who’s in that business if you haven’t
who’s in that business if you haven’t
who’s in that business if you haven’t had any experience in the magazine
had any experience in the magazine
had any experience in the magazine business before go try to work with
business before go try to work with
business before go try to work with somebody else who’s already doing what
somebody else who’s already doing what
somebody else who’s already doing what you want to do it’ll do a couple things
you want to do it’ll do a couple things
you want to do it’ll do a couple things for you first it will teach you about
for you first it will teach you about
for you first it will teach you about the industry so you make some contacts
the industry so you make some contacts
the industry so you make some contacts you learn how to ropes what the ropes
you learn how to ropes what the ropes
you learn how to ropes what the ropes are you’ll learn how to do the business
are you’ll learn how to do the business
are you’ll learn how to do the business you’ll be able to see you know how to
you’ll be able to see you know how to
you’ll be able to see you know how to basically run the day-to-day operations
basically run the day-to-day operations
basically run the day-to-day operations so that when you do go out and start
so that when you do go out and start
so that when you do go out and start your own business you know what to do
your own business you know what to do
your own business you know what to do and what not to do so you’re basically
and what not to do so you’re basically
and what not to do so you’re basically getting paid to make all the mistakes
getting paid to make all the mistakes
getting paid to make all the mistakes and learn on somebody else’s watch the
and learn on somebody else’s watch the
and learn on somebody else’s watch the second thing that we’ll teach you is do
second thing that we’ll teach you is do
second thing that we’ll teach you is do you want to do this business or not so
you want to do this business or not so
you want to do this business or not so sometimes we get excited about companies
sometimes we get excited about companies
sometimes we get excited about companies inside of a business ideas but then once
inside of a business ideas but then once
inside of a business ideas but then once we get into it we realize hey there’s a
we get into it we realize hey there’s a
we get into it we realize hey there’s a lot of work this isn’t what I thought it
lot of work this isn’t what I thought it
lot of work this isn’t what I thought it was going to be it was a great dream but
was going to be it was a great dream but
was going to be it was a great dream but I really feel like I should be doing
I really feel like I should be doing
I really feel like I should be doing something else and that’s okay it’s good
something else and that’s okay it’s good
something else and that’s okay it’s good that start small test see if it’s for
that start small test see if it’s for
that start small test see if it’s for you or not so by going to work for
you or not so by going to work for
you or not so by going to work for somebody else you get those contacts you
somebody else you get those contacts you
somebody else you get those contacts you get the the experience and the
get the the experience and the
get the the experience and the connections but it also teaches you if
connections but it also teaches you if
connections but it also teaches you if you should be doing this business or not
you should be doing this business or not
you should be doing this business or not and again you’re doing it all on
and again you’re doing it all on
and again you’re doing it all on somebody else’s dime and so you’re not
somebody else’s dime and so you’re not
somebody else’s dime and so you’re not spending your own money yet to do it
spending your own money yet to do it
spending your own money yet to do it it’ll be our first tip the second thing
it’ll be our first tip the second thing
it’ll be our first tip the second thing is I always love as much as possible to
is I always love as much as possible to
is I always love as much as possible to try to create a business without
try to create a business without
try to create a business without spending any money so I’ll invest my
spending any money so I’ll invest my
spending any money so I’ll invest my time energy effort blood sweat tears but
time energy effort blood sweat tears but
time energy effort blood sweat tears but not my money into starting something new
not my money into starting something new
not my money into starting something new and so I try to encourage entrepreneurs
and so I try to encourage entrepreneurs
and so I try to encourage entrepreneurs is the same thing so your long term goal
is the same thing so your long term goal
is the same thing so your long term goal may be to create a magazine publication
may be to create a magazine publication
may be to create a magazine publication as your business that’s awesome how can
as your business that’s awesome how can
as your business that’s awesome how can you start that off on a smaller scale
you start that off on a smaller scale
you start that off on a smaller scale where you’re not spending any money and
where you’re not spending any money and
where you’re not spending any money and one place you might look to is the web
one place you might look to is the web
one place you might look to is the web so create a web version of whatever
so create a web version of whatever
so create a web version of whatever magazine you’re trying to do if it’s a
magazine you’re trying to do if it’s a
magazine you’re trying to do if it’s a lifestyle or sports or whatever it is
lifestyle or sports or whatever it is
lifestyle or sports or whatever it is create a website you’re gonna need a
create a website you’re gonna need a
create a website you’re gonna need a website anyway for your magazine and a
website anyway for your magazine and a
website anyway for your magazine and a lot of magazines are even going to the
lot of magazines are even going to the
lot of magazines are even going to the web and
web and
web and shutting down their magazines because
shutting down their magazines because
shutting down their magazines because it’s hard to keep up with the economic
it’s hard to keep up with the economic
it’s hard to keep up with the economic model of having a print magazine but
model of having a print magazine but
model of having a print magazine but start online and you’ll start making
start online and you’ll start making
start online and you’ll start making connections and start getting some good
connections and start getting some good
connections and start getting some good story ideas out there and it doesn’t
story ideas out there and it doesn’t
story ideas out there and it doesn’t cost you a lot of money to create a
cost you a lot of money to create a
cost you a lot of money to create a website or hopefully any money compared
website or hopefully any money compared
website or hopefully any money compared to actually creating the physical
to actually creating the physical
to actually creating the physical magazine and that will help you start to
magazine and that will help you start to
magazine and that will help you start to grow the business and if you can start
grow the business and if you can start
grow the business and if you can start charging some advertising rates on there
charging some advertising rates on there
charging some advertising rates on there make some money and then pour that that
make some money and then pour that that
make some money and then pour that that profit back into your business table to
profit back into your business table to
profit back into your business table to expand it to hopefully your magazine
expand it to hopefully your magazine
expand it to hopefully your magazine publication so just those two quick
publication so just those two quick
publication so just those two quick things those are my quick tips for you
things those are my quick tips for you
things those are my quick tips for you got Santa to get you past the hump one
got Santa to get you past the hump one
got Santa to get you past the hump one go work for somebody else has already
go work for somebody else has already
go work for somebody else has already done what you’re trying to do to learn
done what you’re trying to do to learn
done what you’re trying to do to learn from them and see if this is the type of
from them and see if this is the type of
from them and see if this is the type of business that you want to do and to
business that you want to do and to
business that you want to do and to figure out a way to start small without
figure out a way to start small without
figure out a way to start small without spending any money I would personally
spending any money I would personally
spending any money I would personally look at doing it online to start you may
look at doing it online to start you may
look at doing it online to start you may find other ways through partnerships or
find other ways through partnerships or
find other ways through partnerships or through working with another company at
through working with another company at
through working with another company at the same time to launch a magazine but
the same time to launch a magazine but
the same time to launch a magazine but again without spending any money try to
again without spending any money try to
again without spending any money try to figure that out bootstrap it up and then
figure that out bootstrap it up and then
figure that out bootstrap it up and then you can be able to expand from there one
you can be able to expand from there one
you can be able to expand from there one last one last thought a lot of
last one last thought a lot of
last one last thought a lot of entrepreneurs do try to go out and raise
entrepreneurs do try to go out and raise
entrepreneurs do try to go out and raise capital for their business and it’s
capital for their business and it’s
capital for their business and it’s great it’s a it’s a great potential idea
great it’s a it’s a great potential idea
great it’s a it’s a great potential idea that the two things to keep in mind
that the two things to keep in mind
that the two things to keep in mind first of all it takes up a lot of time
first of all it takes up a lot of time
first of all it takes up a lot of time so raising capital so I should be going
so raising capital so I should be going
so raising capital so I should be going for Angel capital or venture capital
for Angel capital or venture capital
for Angel capital or venture capital almost becomes a full-time job and that
almost becomes a full-time job and that
almost becomes a full-time job and that takes away from you being able to
takes away from you being able to
takes away from you being able to actually run your business so I’d rather
actually run your business so I’d rather
actually run your business so I’d rather invest that time into making my business
invest that time into making my business
invest that time into making my business run and and launch instead of just have
run and and launch instead of just have
run and and launch instead of just have an idea on paper that I’m pitching
an idea on paper that I’m pitching
an idea on paper that I’m pitching around to investors the second thing is
around to investors the second thing is
around to investors the second thing is if you’re at the really early stage
if you’re at the really early stage
if you’re at the really early stage you’re going to get killed on your
you’re going to get killed on your
you’re going to get killed on your valuation if you go to a bank you’re
valuation if you go to a bank you’re
valuation if you go to a bank you’re going to have to pay really high
going to have to pay really high
going to have to pay really high interest rates if you go to any kind of
interest rates if you go to any kind of
interest rates if you go to any kind of other investor equity investor they’re
other investor equity investor they’re
other investor equity investor they’re going to take a big chunk of your
going to take a big chunk of your
going to take a big chunk of your company just because you have an idea
company just because you have an idea
company just because you have an idea and you haven’t actually launched your
and you haven’t actually launched your
and you haven’t actually launched your business so the more you can get
business so the more you can get
business so the more you can get momentum building some real customers
momentum building some real customers
momentum building some real customers coming in even if you’re not making a
coming in even if you’re not making a
coming in even if you’re not making a lot of money but you’re making some
lot of money but you’re making some
lot of money but you’re making some money then if you need to make money to
money then if you need to make money to
money then if you need to make money to go to expand and get get some angel or
go to expand and get get some angel or
go to expand and get get some angel or venture capital investors involved
venture capital investors involved
venture capital investors involved you’ll get a much better valuation
you’ll get a much better valuation
you’ll get a much better valuation because you have a lot more of a track
because you have a lot more of a track
because you have a lot more of a track record behind you so hopefully that
record behind you so hopefully that
record behind you so hopefully that helps scottson for those of you watching
helps scottson for those of you watching
helps scottson for those of you watching if you like the video please give it a
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for you and I’d love to hear what you have to think you don’t leave a comment
have to think you don’t leave a comment
have to think you don’t leave a comment under the video
under the video
under the video yo or if you have a question for your
yo or if you have a question for your
yo or if you have a question for your own business I always love hearing those
own business I always love hearing those
own business I always love hearing those so thank you and I’ll see you on the
so thank you and I’ll see you on the
so thank you and I’ll see you on the next episode
”
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