Today I flipped the switch and launched Edmonton Quotient into the Internet. It may not be, technically, my first business but it’s certainly the first one I’ve approached that way from the start.
The last few years I’ve called myself a “sometimes journalist” or said that I worked in media jobs that were journalism-adjacent. I think those are both accurate descriptions of my work at Capital Ideas and Accessible Media. Since I’ll still be working on a lot of the content for EQ, I think my new attempt at a job title would be journalist-entrepreneur or “entrepreneurial journalist”.
I hope the content and stories that are to be produced for Edmonton Quotient are good. I hope they help fill the gap of shrinking newsrooms cut again and again by profit-driven corporations. And I most hope they inform Edmontonians and activate people to take part in the many issues and challenges our city faces.
Strange as it may seem, I’m not truly worried about the content side of things. There are a lot of great journalists in Edmonton that can write and produce for EQ. It’s coming up with money for them to do this that will be my real work. That’s where the entrepreneurial aspects come into play.
So many headlines remind us how media industries are failing. The question, then, is how I’m going to build a successful, sustainable media company here in Edmonton. (This is where I tell you where to send the giant novelty cheques.)
I’m making a few guesses about how to do this. First, find as many streams of revenue as possible. I’ve got three or four in mind right out of the gate, but I’ve still got to be open to new opportunities as they arrive, especially if a pivot makes business sense (while retaining integrity around the journalism).
Second, I think local businesses have a role to play in local media. Along with cuts to newsrooms, you see local ad space disappearing on local media websites. It’s all Google boxes and ad networks. I think there is something to be said for visiting a local website and knowing that all of the ads and sponsors you see are from businesses you can walk into today.
Edmonton Quotient will have local news, local information and local advertising. If you’re not an Edmonton (or area) business, I don’t want your money and I don’t want your ads on the site. Part of the “conversation” between content and audience needs to include local businesses that are interested in finding new customers. I’m hoping this curation of advertising gives people a reason to pay attention to ads and sponsors they see on EQ content.
I suppose a smaller bet I’m making is that I don’t need to pull in millions of dollars each month. That kind of massive media model is teetering and I think smaller, local and niche media is where things are going and where success will be found.
Whatever happens, I hope you’ll come along for the ride.
(The easiest way to keep updated is to sign up for EQ’s newsletter. I’ll do all the work for you!)