2. Readers call for ‘more’ and ‘better’ in a world that for them is
changing beyond recognition.
3. Topics we will cover
1 Assess Performance
2 Innovate
3 Protect Profits
4 Revenue Diversification
5 Partner
6 Staff Training and Retraining
7 Accountability with Customers
8 Be Passionate
5. Best Practices to Position for Growth
1. Assess Performance
Strategy first, cost cutting second
Clear sense of vision
Core activities done well [including processes]
Communicate value proposition
Be prepared to take calculated risks
6. Best Practices to Position for Growth
1. Assess Performance
Discipline
Jim Collins used it to describe the Good to Great
firms (disciplined people engaged in disciplined
thought and disciplined action).
8. Best Practices to Position for Growth
2. Innovate
Take risks.
Allow failure
Find patterns
9. Best Practices to Position for Growth
2. Innovate
What needs do people have that a new publication, product
or service can fulfill?
What trend or trends are present here?
What opportunities do they present?
What are the current gaps in the marketplace?
What is the insight that can lead me to create greater value
in this segment?
How can I test the efficacy of my idea?"
11. Best Practices to Position for Growth
3. Protect Revenue
Align/Realign priorities
Leverage price to maximize revenue
Subscriptions
Advertising
Books
Other products and services
13. Best Practices to Position for Growth
4. Revenue Diversification
360 view of your readers
Cultivate a relentless outside in focus:
how can you better meet their needs?
15. Best Practices to Position for Growth
5. Partner
Who are your partners for:
Business development
Shared learning
Marketing
Look for:
Complementary competencies
Expanded opportunities
Opportunity to leverage existing resources
How to minimize new costs
16. Best Practices to Position for Growth
6. Staff Training and Compensation
17. Best Practices to Position for Growth
6. Staff Training and Compensation
Hire your “weakness”
Train and then evolve and “stay current”
Cross train staff
Compensation – does it incentivize?
18. Best Practices to Position for Growth
7. Accountability with Readers
19. Best Practices to Position for Growth
7. Accountability with your readers
Take the pulse – measure your success and
weaknesses or gaps
expand depth and transparency
commit to “actionable” research
21. Best Practices to Position for Growth
8. Be Passionate
The passion for your mission should be evident
Can fuel you through difficult times
But don’t let passon cloud your objectivity
“Never be lacking in zeal, but keep your spiritual fervor, serving the Lord.”
Romans 12:11
22. Summary:Best Practices to Position for Growth
1 Assess Performance
2 Innovate
3 Protect Profits
4 Revenue Diversification
5 Partner
6 Staff Training and Compensation
7 Accountability with Customers
8 Be Passionate