This transcript was generated from the episode audio and may contain minor errors.
We have reached the end of September, episode 2464, at least here in our part of the world. Well, I guess it's September, the end of September, anywhere in the world, but I just know people listen out of order sometimes. So the episode is going out, end of September the 30th, 2464 as mentioned. Coming up today, we've got a question from Carlos in Santa Fe, New Mexico. He's wondering, "What's the best way to monetize a small news site?" All right, Carlos is an independent journalist.
He's got a lot of experience with traditional journalism, and now he's kind of going out on his own or thinking about it. Having witnessed the decline of print media, do you remember newspapers, right? He's considering launching his own independent news site. And Carlos is eager to find out how to make this venture profitable in a world dominated by media giants. The newspaper publishing world is kind of like the book publishing world in that there used to be all these different players and companies, and they eventually kind of folded or merged or got bought out in different ways.
And so now there's a lot fewer, right? But of course, still some opportunities for an independent journalist or somebody doing their own thing. So what is the best way to monetize a small news site? Let's see what we can do. Let's see if we can be helpful.
A quick shout out to our sponsor, and then we'll hear the listener question. Hi, Chris. I'm Carlos from Santa Fe, New Mexico. As a journalist for a local newspaper for the past decade, I've seen the industry change drastically. With its decline of print media, I'm thinking of launching my independent news site focusing on local news and in-depth investigative pieces.
But with all the giants out there, how can a site like mine be profitable? Any tips or strategies? Carlos, I think the world needs more dedicated journalists. It's definitely a challenge. If Carlos were asking, "What's the best way to make money?" I don't think I would say, "Hey, go and start a newspaper." But I also think that's not always what people are asking and for good reason.
I write print books, and I do that not because it's the best way to make money, but because I believe in the value of books. I love being a writer, and I've always been a big reader, so I don't make all my decisions based on what is most profitable. I try to find an intersection of what is profitable and interesting and somewhat suited to my unique skill set and all those kinds of things. Life is ultimately about living purposefully, not necessarily maximizing economic value. I think that's true even in the context of side hustle school, which is about economic empowerment, but ultimately, it's about doing more of what's important to you.
We're not always looking for the most profitable thing. We're looking for this idea that you believe in that has value to the world and then saying, "Okay, how can we make it profitable?" Because that's important too. In this situation, pivoting to an independent news site, focusing on local issues, that's the general model. People have done that for sure. It's just a challenge, but it can work.
On a large scale, look at examples like the Texas Tribune that has a strong community focus. It offers premium content for paid subscribers, and there's lots of smaller examples as well. I mean, Carlos is probably not going to be as big as the Tribune, but it is possible to do this. Think about how you're going to specialize. Is it in investigative work?
Is it in that hyper local focus? Usually, there's a mix of free articles and then a paywall of some sorts. That subscription model or patronage in some form, it is generally the way. That's what I would look at. Delve into that.
There are some forums of other journalists talking about this and looking at case studies of newspapers, local small independent newspapers that have been able to be successful. It's a challenge, but it seems like a worthy one, at least for somebody who's passionate about it, not something to do if you're not passionate about it. If you are, don't let that hold you back. Carlos, good luck. Listeners, if you have a question, sidehustleschool.com/questions.
I am cheering you on. I so admire your ideas, your passion, your decision, or your desire to do something different, and I respect that so much. Our goal here is to support you. New episode every day. My name is Chris Guillebeau.
This is Side Hustle School. From the Onward Project.
