How Local Publisher Technically Media is Trying to Diversify its Business with a Focus on Community

2/3/17

By Joseph Lichterman, NiemanLab

Last winter, Christopher Wink and Brian James Kirk, the cofounders of Technically Media, realized they’d made a mistake.

The Philadelphia-based company, which publishes local tech sites in five Mid-Atlantic markets, had crossed $1 million in revenue for the first time in 2015, finishing with about $1.1 million. It had also grown by making its first outside acquisition, Generocity, which covers social impact issues in Philadelphia. Things were looking up. Heading into 2016, the company projected an 85 percent growth in sales revenue.

They quickly realized that their projections were off.

“We were wrong. It was unrealistic,” Wink said. “Fortunately, we didn’t do any layoffs. By February, we were like, ‘Oh gosh, that was a mistake.’ We brought on what was long overdue — two business hires that were not on the sales side but were on budgeting and projections. We got the kind of experience we never had. We reset our projections and remained really tight. We hit the projections after we reset them, but we were on a course that was unrealistic. It was the first time that I really felt that our lack of experience came crashing into us.”

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