Thinking of going entrepreneurial? Then you should go to news:rewired
Journalism.co.uk’s up and coming event news:rewired in January 2010 looks like it’s going to be a promising platform to debate an entrepreneurial future for journalism.
I’ve written an article for the event, looking at three ways for journalists to find ideas for news startups, and in particular, I argue:
[idea for new businesses] must start in the market. They must start with a problem the market has, which you can fix; a service the market needs, which you can offer; a product the market wants, which you can produce.
Entrepreneur Mike Southon asks “where’s the pain?” and builds a business idea from there: is there something people moan about having to do or not being there?
If you don’t start with the market, and the pain it has, you risk peddling a solution to a problem that doesn’t exist.
You can read the rest of my article here. Meanwhile, the News:rewired site also has profiles of five UK journalist/entrepreneurs, and 10 tips for would-be journalism entrepreneurs; the event itself looks like it’ll be a promising hotbed of business ideas and debate.
I’ll be speaking at news:rewired on the 14th January 2010, alongside a host of interesting journalists on the front line of the digital revolution. You can get tickets from the news: rewired website.
In other news
I’ve popped up in Newsleader’s “Talkie Awards” for 2009, a great roundup of the best of radio in the last year; and the 2nd Future of News Meetup Group has been announced for London on the 20th January 2010.
10 trends in journalism in 2010
It’s that time of year again…
After a turbulent year in the industry, I’ve had a good think and put together my top 10 trends for journalism for 2010, wrapped in a big shiny positive outlook. But rather than roll out another list, I thought I’d be a bit different and crack out some video. Enjoy!
And is there anything I’ve missed? Add it in the comments box!
Thinking of a journalism start-up? Here’s a checklist
If the future of journalism is indeed entrepreneurial, we have to start thinking with a business hat on.
It’s a big change in mentality for some journalists. I’ve been to several events and meetings recently where hacks have insisted people will have to pay for news “because journalists have to eat”.
This is upside-down thinking. People don’t buy iPhones because Steve Jobs needs to eat. They buy them because they are an innovative product which satisfies a demand people are willing to pay for.
And so it must be if journalists are to be entrepreneurs. I’ve put together a list of criteria a new business idea might need to satisfy to see it become successful. I don’t think a successful business will need to satisfy all of them, or maybe even 50%. But ignoring these questions means another financial failure…
News start-up checklist
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Is it a new idea?
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Does it have a defined target audience?
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Does it provide niche (i.e. hyperlocal) content?
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Does it satisfy a desire that is not being fulfilled by someone else?
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Or does it do something better (faster, cheaper, more effectively) than someone else?
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Does it actually have income potential, or will it rely on funding?
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Does it use the power of crowd-sourcing/community?
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Would it be fulfilling for journalists to work for?
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Does it publish/exist on more than one platform?
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If it has content, is it sharable?
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Does it require a lot of money to run?
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Does it have boot-strapping potential?
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Does it scale?
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Does it fulfill a public service?
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Is it a legally sound idea? What about copyright?
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Would it appeal to venture capitalists, angel investors?
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And…does it have a cool name?
That’s what I’ve come up with so far. I think if you answer these questions at the early stages, you’ll have a greater chance of your start up succeeding. What it says is a sustainable business – journalism or otherwise – begins with a solid well-defined customer base.
You need to know who these customers are, and be really clear about why you are providing something they can’t get elsewhere. Innocent Smoothies was begun by three British students in 1999 who realised there was a demand for healthy fruit smoothies, which wasn’t being satisfied by anyone else. It now has a revenue of £128m.
US start-up “incubator” Y-Combinator is looking for new media business ideas which embrace this form of thinking:
What would a content site look like if you started from how to make money—as print media once did—instead of taking a particular form of journalism as a given and treating how to make money from it as an afterthought?
Add more to the list in the comments below if you have any. And while you’re here, read the comments of one reader on an earlier blog entry. Some interesting criticism of the notion journalism is entrepreneurial at all…
Journalism posts: Summary III
Time for another quick recap on the journalism posts on here since my last round-up in August.
Future of Journalism
The future of journalism: in vs out
Thinking like a startup for journalists
Why I’m glad Murdoch’s charging for content
What can next generation journalists learn from Les Paul?
Is there an Atlantic divide in journalism?
Can journalism save the environment?
What Simon Cowell can teach you about the future of news
Multimedia Journalism
“For people to act, they must truly believe”
5 rules for multimedia journalists to break (and 5 they can’t)
Getting to know The GIMP (photo-editing software)
5 reasons why UK newspapers still don’t get multimedia
How to launch your own Indie-Journalism site
A snapshot of how video journalism should be
One easy step to simplify your storytelling
Multimedia Journalism on the frontline
The 6×6 series
Click here for all the 6×6 articles and the free ebook.















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