I’ve finally decided to take a swing at my own online science fiction magazine, now that I’ve got a little experience with the conventions of the field.

I’ve made a list of things that I need to do:
1) Choose an appealing name
2) Make sure I can get the domain name (I can’t believe that sciencefiction.com and fantasy.com are ‘parked’ on by squatters and no one has bought them.)
3) Determine what needs to be done for taxes and business license.
4) Set up a high-quality professional website, probably with WordPress, even if I have a to buy a good theme.
5) Set up a couple of website specific gmail addresses for communication and business.
6) Find a standard contract to use.
7) Pay a high rate for stories, above the minimum for Science Fiction Writers of America, probably 10 cents a word to try to get better submissions and quicker recognition.
8) Make provisions to create a podcast of the stories.
9) Determine the best way to eventually incorporate ads.
10) Start with a very slow publication schedule – like one story every other month.
11) Possibly add other content, reviews, flash fiction, etc.
12) Set-up and keep up with facebook & twitter pages.
13) Expect to start by mid-year, not right away.
14) Do not expect it to be profitable or even pay for itself.

Follow up 1/16/10:
1) Redstone Science Fiction
2) got it – http://redstonesciencefiction.com
5) mail accounts are set up
6) found the template I want
12) facebook page still private; http://twitter.com/redstonesf