The entire world is now concerned with how to make money on the newest media. On the one hand, there are no reliable recipes, which is bad, on the other hand, you are free to experiment and invent your own ones, which is always a good thing.

Augie Grant, media consultant and professor of journalism from South Carolina University, honestly admits: no one knows the exact answer to the question of the money-making model in this sphere.

It is proven by practice: Internet resourecs can make money on paid access if they have a small target group and highly valuable and unique content; and on advertising if they have a large target group, cheap and typical content. All this can work out if you have a good idea, quality marketing and if you are ready to work hard...

Summarizing his lecture (Augie Grant visited Kiev in May under the DFJ  project), he gave his own version of eight secrets of successful business applicable both to the newest media and other areas:

1.    The idea is not as important as how you present it.
2.    You must stand up for your ideas.
3.    Nothing is better than hard work - you must be ready for it. A notepad for putting down your ideas is a huge help. You should always have it close at hand.
4.    You must not neglect your need for rest: at least once a week you need to relieve your brain.
5.    It's not what you know - it's who you know. You don't have to know everything - there are always people who know the answers and can help you. It's important to find them.
6.    You should never stop at what you've achieved. You must always keep on learning, both in your main area of activity and all the others, because other areas may often suggest new ideas to you.
7.    You must establish a realistic set of goals. They must stimulate you for further growth and motivate you for work (it is equally wrong to set too simple or too complicated goals). When you attain your goals, you should reward yourself with a celebration.
8.    Always bring something back to society. I mean you should offer advice and possibilities to the people that have given them to you and always share your knowledge and experience.

As for giving to people the advice you've received - I'm doing that :)

Yaroslava Naumova, MediaBiznes Project Manager

04.06.2010

http://www.mediabusiness.com.ua/content/view/18903/124/lang,ru/