Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with David Algire, Partner of MediaWorks 360, Inc., located in Charleston, SC, USA.
What's your business, and who are your customers?
MediaWorks 360 works with brands to identify and monetize addressable audiences. Our team's expertise is building digital memberships and premium-priced subscriptions. We have full capabilities to develop and manage complete programs or plug into existing organizations to provide support and best practices. MediaWorks 360 has a full toolset to manage these recurring and auto-renewing revenue streams across the digital marketplace. With automated workflows and compliant with the ever-changing legal landscape, we are a turnkey solution.
Tell us about yourself
I was in the consumer publishing business for 35 years and worked to migrate businesses to deliver content across multiple platforms. It became clear that many brands did not have the expertise to enter this new "membership economy." It is extremely rewarding to help brands develop products that build stronger consumer relationships while adding a high-valuation revenue channel.
What's your biggest accomplishment as a business owner?
We have built and managed successful programs for some of the largest brands in media. We feel that building programs that can deliver revenue while strengthening the bond they have with their consumers is a valuable accomplishment. This Old House, the TV and magazine brand, asked us to lead the effort to build a consumer digital program. Today, This Old House Insider has built a large audience and is a stand-alone product success. Another example is the very successful docuseries, The Secret of Skinwalker Ranch, airing on the History Channel. This brand had all of the components to extend the consumer experience, including a sizable audience that wanted to learn more and have a relationship with the team at the ranch. Skinwalker Ranch is the most paranormal spot on earth, and we partnered with the team to identify the audience and build a digital membership, allowing direct engagement with fans all year long.
What's one of the hardest things that comes with being a business owner?
The most challenging part of our business is the constant focus required to develop leads and new business to maintain growth. Potential clients fall into specific areas/categories and require our personal involvement to keep the funnel active.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Develop a unique value proposition. What benefit does someone receive when using your business or service, and what would differentiate you from the competition?
- Have realistic plans for revenue and expenses. Allow for that unexpected challenge; we all have them.
- Build an effective and efficient marketing plan. Test multiple methods, and keep investment manageable until you find what works - tweak and deploy. Utilize all appropriate platforms - a modern website, LinkedIn, Instagram, etc...
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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