AFYMP Trains Journalists On How To Turn Their Passions To Profitable Business (PHOTOS PLUS DETAILS)

 

 

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AFRICA Foundation For Young Media Professionals (AFYMP) trained Young Media Professionals on how to turn their passions In Journalism To profitable business.

The event took place at the CMD, Magodo, Lagos on Wednesday and Thursday, June 5 and 6, 2024.

Seven professional facilitators trained 25 young professional media practitioners across Nigeria and in Diaspora to an eye opening hidden treasures in Social Media.

They took the participants who have been working endlessly without results revealing the knowledge gap on why they have not been able to breakthrough despite their efforts and passions.

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The Publisher of SOJ WORLDWIDE ONLINE NEWS, Adesoji Omosebi was privileged to be one of the lucky participants.

The CEO of Women Radio (91.7fm), Toun Okewale Sonaiya was the first Facilitator to take the participants through,

“Media Business and Technology, Implications For Entrepreneur”.

In it, she urged the participants to always

• Standout and distinguish themselves in everything they do.
• Make their media self sustaining.
• Be consistent, be credible and professional.
• Find things in space differently.
• Look for a gap to fill.
• To ask, “what are others doing that I am not doing?”
• Partnership is the order of the day to save costs, therefore, choose wisely.
• Run your business to make it “self sustainable, innovative and use the power of entrepreneur and respect those who work for you.”

 

The Executive Director of TVC, Ladeinde Kayode and others took turns for training the participants.

One of the striking forces in the training that must continue to ring bells in the ears of the participants’ consciousness is to remain in business and be relevant in their respective media and to follow this simple rules;

“Don’t lose the non-paying consumers by concentrating more on paying consumers, you must strike a balance between the two.

 

Moreover, we must be sensitive to non-paying and paying consumers.”

The non-paying consumers are the committed and loyal members of community who only read the contents without paying for it except the data used, whereas, the paying consumers are the clients who paid the bills for the sustenance of the business.

 

Some of the principles of positive impacts includes,

•  Guides your behavior
• Be professional and follow legal guidelines.
• Integrity: Exhibit a high sense of public trust on your platform.
• Be fair, just, truthful, balanced in your reportage.
• Dont rely on one source.
• Dont overhype news  by getting your facts right.
• Know the sources of your report and credit it.
• Dont plagiarize.
• Don’t always depend on ‘reliable sources’ alone. Be there!
• Respect the principles of confidentiality and under no circumstances must you disclose the source of your information obtained in confidence.
• Don’t breach agreement with source of your information.
• Maintain corporate reputation.
• Prevent misinformation and disinformation.

On value of Editorial Policy, one must take building of trust into consideration.

 

Building a Business Model: 

Whatever model you want to use, let it be a trusted model.

1. Consumer Value Proposition.
2. What type of channels? Live, TikTok, Whatsapp, Facebook, YouTube or Instagram?
3. Engagement Metrics.
4. Who are your partners and your activities.
5. Your key resources (people or technology).
6. Audience research.

Think about government policies about your plans.

Revenue sources:

• Philantropic giving
• MDIF – Media Development Trust Fund.
• Google Initiatives.
• MacArthur Foundation.
• Business structure.
• Public donors
• Adverts and events.
• E-book
• Classified or paid contents.
• Crowd funding and subscriptions.

Ways and means journalists can turn their passions into profitable business

There are various ways to receive funds, namely;

• Traditional Funding: Grant awards from foundations, non-profit organizations or government agencies.
• There are two types of grants:
• * Story writing for particular content grant, indigenous donors support for single project.
• Pulitzer always support single stories.

•   Traditional advertisers.
• Editorial Partnership with organization or Government agencies.

 

New Funding Models

1. Funding by appeal:  Crowd funding by appeal.
2. Consulting and services: Monetize your reservoir of knowledge.
3. Creation of unique contents like features, analysis and videos.
4. Documentary.
5. Products: Look for products that are tied to journalism but not core journalism and give credit to sources.
6. Social Media Revenues: Working on TikTok, X.com, Instagram, Facebook, YouTube platforms.
7. Organizing training programs.

 

How To Attract Funding

• Leverage on your strength.
• Be consistent.
• Forge relationship with CSOs.
• Joining coalitions.
• Peer to peer.
• Visit GIGN.com, IJnet.

 

Participants expressed their happiness in the two-day training program for opening their eyes to unknown hidden treasures in journalism despite many years of their experiences in the field.

 

Seven facilitators who trained the 25 participants within Nigeria and diaspora, are:

1. Lekan Otufodurin
2. Toun Okewale Sonaiya
3. Ladeinde Kayode
4. Yinka Olaito
5. Kolapo Olapoju
6. Omobola Adebanjo
7. Tayo Fagbule.

Online Publisher of SOJ WORLDWIDE ONLINE NEWS, Adesoji Omosebi expressed his happiness and joy for the impartation of knowledge and exposure to deep secret of treasures embedded in journalism that was not known despite many years of experience in the field.

Omosebi said, “This training has ignited the fire in me, I can now do what I couldn’t do before this training because of my knowledge gap. 

The training, has indeed, shown me pathways to profitable business in journalism.

 

I am ready to work hard and put the strategies I have acquired into practical practice and make sure I revisit all my abandoned projects”, he concluded.

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