Thursday, September 03, 2009

A Flash of Insight from a Shark

Until this week, I had never watched the TV show Shark Tank. Shark Tank is a reality show where entrepreneurs face a panel of potential investors (sharks) and try to convince them to invest in their company.

I had the show on for just a few minutes when one of the sharks explained why he would not invest in a product. (I never did see what the product was.) He said her product was more a work of love or a mission than a real business, that she did not have enough sales and had invested too much of her own time and money. She would have to make major changes in how the product was designed and presented before it could be profitable.

Wow! Did his comments hit home! I felt he could have been talking to me about WALK! Magazine.

I loved WALK! Magazine. It was fun to publish and I enjoyed all of the walkers I met. I thought it would launch a publishing company that would be fun and successful. A few things did not go the way I wanted -- I didn't have enough subscribers and I couldn't attract enough advertisers. I was doing almost all of the magazine myself (as well as working a full-time job) which meant I was working about 80 hours a week. I didn't even have enough time to walk. Because I loved the magazine so much, I hung on way too long.

I have been planning for quite a while to figure out a way to revive WALK! Magazine. I go back to the shark's comments to the woman on the show: I have to make major changes in how the product was designed and presented before it can be profitable.

OK, I'm inspired again. I am now again actively working to figure out how I can bring back an electronic version of the magazine.

If you have any suggestions, I'd love to hear them.


Wendee said...

Ooh, this is exciting to hear!

One request from me is to find a way to the magazine be inclusive of more regions, looking at different walking groups and national (international?) events. Keep us posted. Let me know if I can help.

Nyle said...

If you can reach all the walk clubs....both regional, national and international, that will open up your subscription base. Reach out to local business to pay for advertising spaces and at first...maybe half the size of the magazine (to save a little time)
I know I would love to see this. By the time I searched and found it, it had stopped so I have only ever gotten to read the one issue and I loved it.