It's "SoulCycle but for journalism"
Mariana Heredia on big stories and a new business model
There was a lot of bad news for the publishing industry this year. Budgets were cut. Magazines and newspapers folded. Staff were furloughed and freelancers were forgotten in the panic to reign in spending. But, really…it wasn’t all bad.
This year also gave many of us an opportunity to decide if we really want to be doing the thing we’ve been doing. Despite the ever-present industry challenges and the new ones that snuck up on us, do we still want to be a part of telling great stories?
Mariana Heredia doubled down.
She knew going into journalism that it wasn’t going to be an easy path to follow. But she had faith in the power of storytelling. The publication she recently relaunched with a beautiful new website and three longform pieces so far, is a testament to that.
Mariana is the founder and editor of Fenix, an online magazine for “Reporting that informs” and “storytelling that delights.”
If you’ve been a subscriber of One More Question for sometime, then you’ve read my many vague mentions of a big story I’ve been working on for awhile. It’s for Fenix! And I’m so, so excited to share that with you all soon. Mariana’s supportive and collaborative approach to editing have been a big part of what’s made this story one of my favorite things I’ve ever worked on.
Fenix relaunched just a few weeks ago with a fascinating article on how this year has changed the way we deal with disasters. After working with Mariana and reading the first articles on the new site, I’m so excited to see where this publication is taking readers in the future.
So, writers, meet Mariana!
Mariana Heredia on big stories and a new business model
Can you tell us about the evolution from when you first started Fenix and the revamped, better-than-ever version that launched last week?
When we first launched Fenix in 2019, we hoped to crowdfund on a story-by-story basis. It was a good idea in theory, but we found out in practice our product didn't quite fit the business model.
Crowdfunding is great for big, one-time projects because you can garner a crowd's energy and spending power toward your goal. But you can really only tap into that pool of supporters once before the pool dries up.
As we started this year, the question was: how do we iterate? How do we take the best parts of our company (like our belief that the best way for journalism to succeed is to answer directly to readers) and leave behind what's not working?
The answer came from a completely unexpected place — the fitness industry.
If you've ever taken a yoga class, you know what I'm talking about. You pay for a class credit, and then use it to attend a class that fits your level and schedule.
Think of the final product as SoulCycle but for journalism. A credit system like this one empowers readers to make choices about what they want to read. It's a low commitment option for readers who are very interested in a story, but don't want another subscription. (Hello, pile of New Yorker Magazines shaming me from my living room.)
One credit is $2 and gives you access to one story of your choosing. We have an option to subscribe as well and get a regular influx of credits on a monthly or yearly basis (at a discount!).
All of this only works with a quality product. That's why we focus on in-depth, investigative features that include interviews with experts, document analysis, and captivating narratives that help us understand the world better.
What made you want to start a publication as opposed to working for an existing one?
This is a great question. The truth is that I'm a better editor than I am a journalist, and the only way to become an editor at other publications is to work your way up as a journalist. I also had a lot of ideas about how I thought things should be done, and I realized I needed to put my money where my mouth is. So, I did.
What was it like to relaunch a business in the middle of a pandemic?
So, I think in some ways the pandemic was helpful to my work habits. Before we were on lockdown, I was working by myself all the time. I think a lot of freelancers will relate to this. I went to coffee shops and co-working spaces and sat at my kitchen table writing emails and making plans. But without the solid work-day structure that comes with a 9-to-5, it was really hard to stick to a schedule.
The lockdown changed that. Now, my husband was also working from home, and because he had an organization that was setting his schedule, I was able to sort of tag along. It made me incredibly productive.
Of course, I still went through moments of unbearable stress. Being in New York for the beginning of the pandemic was one of the scarier moments of my life just because we knew so little about the virus and how it worked. Like so many, I also think my work stress was amplified because I didn't have a place to disengage or the ability to gather with friends. I can't wait for those things to be back.
I think the biggest lesson I've learned from re-launching a company in a pandemic has been about perspective. Fenix is so important to me that it can feel like life-or-death, but it's not. 2020 has shown what it looks like to have a job that really is THAT important. Fenix is not it. I'm thankful for that because it means I can take some of the pressure off and focus my energy on creating something worth people's time and attention. I would 10/10 recommend grounding yourself like that and remembering what really matters and what doesn't. It's liberating.
How have your background and past jobs informed your approach to running and editing a new publication?
I recently read a quote that stuck with me. It's from Shane Parrish who runs a fantastic newsletter called Farnam Street. He said, "Your first thought is often a common one. It's only by sticking with something long enough to let your brain make connections that you come up with uncommon ideas. The most useful insights come after thinking about a topic for a long period of time."
I decided to go into journalism at an extremely precarious moment. Newspapers were the first industry the internet sort of ate up, and when I was in college and told people I was majoring in journalism, the first thing they would say was, "Newspapers are dying."
I wanted to save them. So since then I've been thinking of ways to "Save Newspapers." (I had a post-it note on my laptop in college that said that. Like it was a to-do list item to check off.)
I double-majored in business management and journalism because I wanted to know how to run a business, after all what was failing journalism was never really the stories. In my opinion, it was how those stories were managed and monetized.
Then, I got a job in advertising because I wanted to understand how the money was made.
When I finally got to my last job at an online media startup my head was swimming with ideas on how to do this better. Those ideas were even more pronounced when the startup pursued clicks more often than they did quality. By that point, I had sat with my idea of saving newspapers for so long that it had morphed into something uncommon but powerful. I saw that running a startup was possible, and so I took the leap.
As the founder and editor and even the narrator of the audio versions of stories, you wear many hats behind the scenes at Fenix, but you're still very invested in the editing process with writers. Can you tell us a little about your editing style and what you enjoy most about the editing process?
Lol I wear too many hats. But the editing hat is by far the most important one.
My job as an editor is to be your first audience. It's a very delicate moment in your story because you've spent all this time crafting it, and so, I take a lot of care to make sure that your first read isn't a judgmental one. The first thing I do is read the story all the way through while sitting on my hands. That way I'm not tempted to mark or comment. This gives me an idea of your intention with the story and allows me to help you communicate that clearly. I say this to writers every time I edit them: You know your story best. My edits are suggestions.
That's my favorite part of the process. Freelance journalism can be very isolating, and running a startup can also be very isolating. I love having the opportunity to create a collaborative newsroom even if it's just over the phone or Zoom.
I've personally learned so much through the story we've been working on together. One thing being that longform journalism requires commitment and you have to really love the story you're working on! Because you're going to spend a lot of time with it. I'm curious what you've learned in this relaunch about how to spot a good feature/longform idea and how to make it work?
I'm so happy to hear you've learned a lot from working together! That's the best compliment I could get. I think you have this part exactly right. A good feature is one that the writer is fascinated by. People often ask me if I have any particular stories I want to cover, but you're never going to be as interested in my ideas as you are on your own. It's probably easy to do that for a shorter story, but it's too difficult to feign interest like that for a longform piece that requires months to report, write, and edit. When writers have the opportunity, they should ask themselves what they want to spend the next three months learning about. I know it's difficult in the current media environment. It seems like a luxury. But I promise the magic that comes from that can't be recreated.
How to spot it: Ask questions. Ask questions about the characters, the industry, what the writer knows, what they want to know. If someone isn't interested in the story, they'll have a hard time coming up with answers.
How to make it work: It depends on the problem or the story, but you'd be surprised how far a little motivation and pep talk will go. Oftentimes, people just need someone to believe in them.
Do you think this business model, going by credits instead of subscriptions or relying on advertisers, is part of a greater shift in the journalism industry? Do you think it could be a game-changer?
I hope so! Lol I've put all my eggs in this basket, so to speak. The truth is I'm not sure how it will play out. Everyone is looking for the silver bullet in this game. Everyone wants to solve the media problem. But the landscape is much more fractured than that because our attentions are much more fragmented. I don't think media will get solved with one solution in the same way that I don't think we'll ever have mega pop stars like Britney Spears again. There will be more diversity in the solutions (and in the pop stars), and that's a good thing! I hope Fenix will be one of many, many solutions to the media problem.
You've presumably been receiving lots of pitches these days! What do you wish you saw more of when it comes to pitches from writers?
I have! I love seeing them come in. This is Fenix specific, but I wish I saw more storytelling. It's very similar to grabbing the reader in a regular story. Write a lead! Write a nut graf! Tell me why it's so important to you. Why are you interested in it? How does it affect "me"? (Not me in particular, but reader me) Send multiple ideas if you have them. And be patient with your editor. As you said, I'm wearing many hats right now, and it's important for me to get detailed feedback to you. So, it might take a while, but I promise I will get it there.
What is one more thing you want freelance writers to know about Fenix?
That it's a place to collaborate. Fenix is in a magical spot right now because it's so young, so there's so much opportunity for you to try new things. Whether it's a topic that you've been wanting to dive into or a new structure or a different reporting style — there's a lot of room to get a lot of good experience right now. It won't always be this way, but at this moment, we can accommodate so many new ideas!
That’s all for today friends. I’ll be back with one more round-up of writing opportunities on Tuesday (for paid subscribers!), and then I’m going to take a week off for the holidays.
If you’re not a paid subscriber just yet, now is a great time! I’m offering 20% off subscriptions till the end of the year. Subscribers receive my big list of 70+ editor contacts and a customizable pitch tracker, along with twice weekly newsletters like this one!
Stay inspired,
Britany