Sustainable Journalism is Responsible Journalism: Funding your passion
Goals:
- Identify 5 sources of revenues
- Identify 3 priority sales targets for each revenue source
- Identify what needs to be done before approaching
- Plan how to approach the sales targets
- Gain skills necessary to approach and complete a sale
Structure:
- What is your project
- Breakdown each idea into a concise and precise value statement
- Write on a paper how they will fund it
- What problems are you solving
- Learn how to identify needs in that market that can be addressed and sold to
- Groups of 3 formulate each individual problem set for their addressable market
- Explanation of splitting between luxury markets and mass markets
- Diversifying is surviving
- Ping Pong ball exercise to demonstrate the value of diversifying revenue streams
- Presentation and review of potential revenue sources
- Consulting (services)
- Social media (Bumaga example)
- Banding/content marketing (Buzzfeed example)
- Local expertise/fixing (Chechen story for Meduza)
- Translating
- Access to
- Community
- Events
- Special people
- Audiences (advertisements)
- Content
- Information (research for government, NGOs, business and politics)
- Data
- Competitions and rankings
- Paywalls
- User behavior and interests (Facebook)
- Market data (Bloomberg/DOW Jones)
- Training
- Education for other journalists (Mediatoolbox)
- Items discussed in other lectures
- Grants
- Crowdfunding
- Government
- NGOs
- Donors
- Consulting (services)
Lunch break
- Farmer example on earning revenues from activities that support your passion
- Implementation
- Products each team is creating and potential sales opportunity
- One example, then break into groups of 3
- Identify sales targets / real life organizations or groups that could be sold to
- Identifying what price to sell at
- Value vs cost
- Conducting market research
- Test and failing
- Approaching and selling to a customer
- Presentation with top skills
- Role playing and acting out real situations
- Splitting revenues between what is feasible now and what is scalable in the future
- Create plan for revenue streams in 6 months, in 12 months, in 3 years
- Products each team is creating and potential sales opportunity