Keys to Being a Successful Entrepreneur With Jacqueline Nwobu of Munaluchi Bride. This is the Transcript of the #WeddingMarketChat on April 4th, 2012 with @jackie_MBM from @munaluchiBride . The answers were made on Twitter so responses will appear different.
Jacqueline Nwobu is the Co-founder and Editor-in-Chief of Munaluchi Bride Magazine, the leading nationally distributed wedding magazine catering to women of color. With no prior experience within the publishing industry, Jacqueline and her husband managed to launch Munaluchi Bride Magazine in 2010 and obtain national distribution within major retailers including Target and Barnes and Noble.
Women of color are major contributors to the billion-dollar wedding industry, yet, their presence within major bridal publications and websites/blogs is rare. However, with the emergence of new-age digital business marketing trends (that includes white label SEO and other strategies), women of colour also are starting to lead the business world. Jacqueline Nwobu is a great example of the same. Her vision and determination to fill this void are what gave her the strength and willpower to break into and positively impact an industry she knew very little about. Prior to launching Munaluchi Bride, Jacqueline obtained her B.S. degree in Medical Technology and worked for major pharmaceutical and diagnostic companies, including Johnson and Johnson. The rapid success of her magazine has landed her interviews on NBC, ABC, and WPIX NY. Jacqueline resides in New Jersey with her husband and three children. Learn more about at www.munaluchibridal.com
Join Our Wedding Market Chats For Wedding Professionals Every Wednesday at 10:00PST, 1:00EST, and 6:00GMT (UK time) with the #WeddingMarketChat Hashmark On Twitter. Learn something new to help your business grow every week. The chat is hosted by Wedding Market editor Julie Albaugh (@juliealbaugh).
Q1: How did you get involved with the
Tweet Answer: My hubby and I started as wedding photogs. It was our “side gig.”
Q2: How did you come up with the idea Munaluchi Bride Magazine?
Tweet Answer: Yes, certainly. From wedding photography we ventured into the magazine. We recognized a void in the industry
Q3: What were the first steps you took in launching your business idea?
Tweet Answer: First, we did research to see if anything like this existed. We couldn’t find anything on a national scale
Q4: I understand you had no background in putting a magazine together. How did you overcome this?
Tweet Answer: Being from a medical background (medical technology with a stats minor to be exact) google was my bff!
Tweet Answer: I literally typed “how to start a magazine” in google. And that was the beginning…
Tweet Answer: I purchased software from adobe, did online tutorials, and layed the mag out page by page.
Q5: What were the first steps you took in launching your business idea?
Tweet Answer: We did everything ourselves, had the mags printed, and landed distribution deals instantly.
Tweet Answer: Our first issue went onsale 1/5/2010 nationwide and in select international airports.
#WeddingMarketChat Question: What did you find the best option is for printing and distribution?
Tweet Answer: We used a smaller local printer to start. Was better bc they were able to work closely with us.
#WeddingMarketChat Question: Where do you find inspiration for issues?
Tweet Answer: We find inspiration everywhere and anywhere. Inspiration is in everything we do daily.
Tweet Answer: There are no rules in creativity. Anything that can be imagined can be created.
#WeddingMarketChat Question: Where do you see your business in 5 years?
Tweet Answer: I see MBM anywhere that it’s not already. Certainly global & multi-dimensional. print/online/mobile/tv
#WeddingMarketChat Question: What was your biggest fear in starting this journey? If any? How did you overcome them?
Tweet Answer: The truth is initially there’s the fear of unknown. Leaving a secure well-paying job with benefits…
Tweet Answer: is always tough. I got over that quickly and truly don’t fear anything. Entrepreneurs have to be fearless
Q6: How did you put your business plan together?
Tweet Answer: We studied the market, put a rough plan together and had an expert look it over.
#WeddingMarketChat Question: Where did you come up with original financing?
Tweet Answer:We financed it ourselves, and with the help of friends and family
#WeddingMarketChat Question: How did you come up with the name for your magazine?
Tweet Answer: Munaluchi means “Beautiful Work of God”. Muna=beautiful (ethiopian) Luchi derived from Oluchi (work of God)
Tweet Answer: Our name has always been a topic. Many can’t pronounce it, but once they do, it makes sense..
Tweet Answer: We feel the name describes the target audience precisely. Beautiful works of God..
Tweet Answer: Our mission is to continue to create more + images of women of color in mainstream media especially bridal.
#WeddingMarketChat Question: as photographers, are the images most important for your magazine or the content (articles, etc.)?
Tweet Answer: All of d above. G8t pictures, g8t content. Really, we strive for everything from cover 2 cover 2 b great!
#WeddingMarketChat Question: So where can I get the magazine? I want one
Tweet Answer: It’s avail in B&N’s, Targets, local bookstores and on our site. http://munaulchibridal.com
#WeddingMarketChat Question: What is your greatest challenge as an entrepreneur?
Tweet Answer: Trying to balance work and life. As a mother of 3, you have to learn to balance. It can be tough at times. Also, the fact that you have the sole responsibility for the growth and success of your brand can be daunting. I read an article on CEO peer advisory groups online, that talked about how entrepreneurs and CEOs of different companies can find assistance in peer groups with other entrepreneurs from a similar background. Quite interesting. We might look into that if it gets too tough to manage solo.
#WeddingMarketChat Question: In developing an online pub for brides, it has been SO hard to find images of women of various cultures.
Tweet Answer: search, search, search. Connect with great photogs. They can be your hero
#WeddingMarketChat Statement: I listened to an interview w/Jackie & learned
@munaluchiBride had social media marketing before their 1st issue came
#WeddingMarketChat Question: how did you become accepted as the new comer?
Tweet Answer: Don’t take things personal when you’re a newcomer. It takes time for people to warm up:) Keep pushing ahead.
#WeddingMarketChat Question: I am also financing myself. Trying to stay away from getting financed. What do you suggest when it gets “tough”?
Tweet Answer: You need to stay focused. Get a pt job to make ends meet while you hustle for your business.
Q7: What advice do you have for wedding pros thinking of starting a new venture?
Tweet Answer: 1. Be an activator. If you have an idea, just start it! Start something even if it’s jst registering the co.
Tweet Answer: 2. Be able to adapt. Times change and so will your business. You need to recognize that and adapt accordingly…
Tweet Answer: 3. Entrepreneurship is hard. Simply put. So stay disciplined. No formulas to success, just dedication and guts.
Tweet Answer: 4. Be focused. Many business start and fail bc of no focus. Don’t give up when things are tough…
Tweet Answer: 5. Think strategically. Spot pattern and trends and incorporate them. i.e. social media…
Tweet Answer: Most important: U must be able to visualize success. There is power in your thoughts. How do u visualize your business?
Q8: What would you like the
#WeddingMarket to take away from this #WeddingMarketChat ?
Tweet Answer: For people to dream big and act on it. It’s really that simple. First the thought, then the action.
Tweet Answer: Never give up. You never know when your blessing is right around the corner…