Entrepreneurship in Publishing Magazine Over

Entrepreneurship in Publishing Magazine

Over the last several years the issue of AIDS/HIV awareness has been continually brought to the forefront. To help inform and entertain this audience, a magazine will be published highlighting the issues that are most important to them. However, to fully understand the risk vs. rewards of having such a business venture; requires that you carefully examine this industry using the NAICS. This will tell you the overall challenges faced within a particular industry, and reflect the way that your views will play a role in its long-term success. It is through considering these different variables; that will provide the greatest insights as to what are the challenges of starting such a venture.

What were those difficulties specifically?

In the publishing business, there was one major challenge that was consistently encountered, effectively finding the right target market. This is due to the fact, that publishing and media encompass a large spectrum. In order to effectively target your message, means that you must identify a specific audience. Then, it is essential for you to determine if the audience needs to be targeted even further. For example, in the case of the AIDS/HIV magazine, the initial target audience is a good start. However, determining if the message will need to be narrowed down is when this issue will become more ambiguous. In the case of the NAICS, this would fall under the category of: magazine publishing, publisher's magazine, scholastic or professional. Where, determining the specific category and the size of the audience is what was most challenging. ("Magazine Publishing," 2010)

What do the specific difficulties around establishing our businesses within the NAICS system tell us about our own limitations about how we define and think about our products and services?

This says that there are a large number of possible readers for the magazine. The problem is: making certain that there is sufficient capital to create a loyal following, writing compelling content and ensure that you are reaching out to the right audience. In many ways, the NAICS, highlights how many people who are beginning to start such business ventures do not consider the specific details. This is critical, because a magazine is like any venture, it requires sufficient amounts of due diligence prior to opening. You must then, be sure that you have the right audience identified. Otherwise, you could be facing a situation, where you could be taking to general or to narrow of a focus (causing you not see a profitable return). Regardless of the type of magazine that is being published, this is the standard that is necessary to ensure long-term survival of the publication. This is significant because, understanding this weakness about any possible risks will ensure that nothing is overlooked. As a result, once the magazine is published it will be focused and capable of generating a unique following.