Start a magazine?! Are You Crazy?!

Got this "wonderful" story in my email box a few days ago:

Mags to Riches
By Carolyn Hueston
Got a great idea for a magazine? Find out how you, too, can break into this challenging business.

In it were the following quotes:

"In fact, 9 out of 10 new magazines fail, according to Cheryl Woodward, publishing business consultant and author of Starting and Running a Successful Newsletter or Magazine."

"...of the magazines that fail, 70 percent never make it past their first issue."

"And you can expect to lose money for the first four or five years while you're investing in building your circulation."

With stats like those, who would take the plunge that the headline advises! Well, I did and things are going swimmingly in our second year - though yes, we have yet to turn a profit. We at least made it past that first issue hurdle and actually just sent our 9th to press today. I think that is grounds to celebrate. So on that note I'm off to take an hour and sit in my gazebo with a cool drink and a good book - something I haven't done since last August!