Today’s media, in addition to their primary job – which is informing the public in objective and timely manner – must actively think about their business model and the way they make money. The media face great challenges globally, and this problem has not been solved even in the most developed countries of the world, and it is especially affecting small local media that did not even think that they would have to think like entrepreneurs and build some kind of additional business around their primary media activity.
The aim of this course is to give you basic guidelines for developing a business idea and understanding how different elements of the media business affect each other. The course abounds with concrete examples and instructions for creating a business plan for media development.
Topics we will cover during this course are:
- Business model – In this chapter, we will analyse different aspects of the business model, and illustrate them through examples. You will understand how companies create value for their customers and how they convert that value into profit.
- Media business models – We will get acquainted with specific business models that are applied in the media as a specific industry. The aim of this chapter is to gain an understanding of how the media can generate revenue.
- SWOT – This tool will discuss Strengths, Weaknesses, Opportunities and Threats business ideas.
- Business model canvas – Also known as BMC, Business model canvas is a key tool that you will master during this course. It will allow you to quickly map and view your business. Expect plenty of examples.
- Market and competition – Market and competition analysis are documents that you must have ready for your Business Plan. You will learn what to look for and how to view direct and indirect competition.
- Testing an idea – In this chapter, you will learn about the methodology that start-ups use to test their idea, through meaningful conversations with potential users.
You will need about 24 hours of work to complete this course.
This online course has been produced within the ‘Media for All’ project, that is funded by the Foreign, Commonwealth & Development Office (FCDO) and delivered by a consortium of organizations led by the British Council, in partnership with Balkan Investigative Reporting Network (BIRN), INTRAC and Thomson Foundation (TF).
The project aim is to develop and strengthen the editorial independence and business operation of the media outlets across six countries in the Western Balkans (Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia) by providing grants and technical assistance to a range of media outlets.
