Top Tips for media business start ups

Jeff Israely, a Time magazine foreign correspondent in Europe, is in the planning stages of a news startup and he gives some tips and lessons learnt to Nieman Lab.

I particually liked what he says about the business plan

More to the point, a BP is not enough these days, even for those intrigued by your project. You should really consider, sooner rather than later, getting a live prototype up on a URL. Even if you have a concept that can be well described in a business plan (or on the back of a business card!), it is worth your time and money to have a preliminary version in pocket of THE THING itself. Mine will be ready in a couple of weeks.