Thanks so much to Elaine Hall of WellRed community magazine who came and shared her business journey that started in September and ended in July. It was fascinating and she seemed open to a bit of grilling which was very helpful for the 8 start-ups that came to hear her.
We agreed with Elaine that it was a good magazine with useful community news and info that residents would tend to keep and read rather than throw away. So to advertise in it would have been a good business decision. Her business fell down because she could not get enough advertising to make it financially viable.
- We wondered whether these magazines only work in areas with more local identity – eg the Wanstead magazine does well but Wanstead has a bit of a village feel.
- We wondered whether being a Redbridge-wide magazine (the name) would not have the community feel of an Ilford wide magazine (where Elaine decided to distribute it). Therefore maybe a change of name?
- We wondered whether Elaine needed to employ a hard-nosed sales person as this was a skill she did not have and securing advertising was crucial.
Elaine is a successful zumba teacher and is already working on another couple of business ideas. We loved Elaine’s spirit. She is an entrepreneurial person, has learned so much in a short while and is bound to make it work next time! Best of luck Elaine and please do stay involved! 🙂