TAKE AWAY- ” The dog who chases two rabbits catches neither”

At RevenueGPS, I was called in to help launch a patient magazine which would be distributed at doctors’ offices. It was particularly interesting because it dealt with an area of medicine that was not well served at the time. It was self-funded by a new publishing company.

In my role as national advertising director, I identified positioning, generated a prospect list, researched the client and agency contact lists, created a media kit, and made calls on CMOs and agencies to introduce the magazine.

In dealing with my management I reminded them that it takes considerable time and money to launch a new magazine and it would be best to get the first magazine up and running before expanding to new areas.

Unfortunately, their enthusiasm for this field exceeded their financial resources. As we were launching this magazine they decided to create and launch a different but related magazine.

The result was that the editorial staff, already overworked, was split in two directions, and the financial burn rate was significantly accelerated. Net result they ran out of money before they ran into money.

Had they practiced Lean Start-Up discipline they would have created a Minimal Viable Product, tested, and tweaked the product to become self-sustaining with the first magazine. They could have then use the strength of that brand to launch a second brand.

I can help you avoid common mistakes in launching your communication brand. Call ReveneGPS.