I’m sure most readers of this blog also follow US new media giant Jeff Jarvis’ blog over at Buzz Machine.
Jeff was telling us the future of journalism is entrepreneurial before anyone had really considered it and Buzz Machine is a hive of interesting writing. Today Jeff posted the results of an Entrepreneurial Journalism class where his CUNY students have been pitching their own business ideas.
For obvious reasons he’s not giving much away, but what he did reveal about the pitches that won some development cash (and those that didn’t) offers some excellent inspiration and ideas to the rest of us:
The four ideas that won some money from the McCormick Foundation are (emphasis mine)
- a platform for news assignments
- a mobile sports application
- a creative, algorithmic answer to filter failure
- and ClosetTour a new media site dedicated to fashion
And those that didn’t:
- a specialised womens travel service
- a specialised local real estate (property) service
- a cool food idea
- 2 business-to-business ideas
- a hyperlocal idea
- a service for NGOs
- a commercial service for NGOs
What’s great is the huge variety of ideas – covering news, fashion, food, sport. What’s more as Jeff notes:
A few were built around the need not just to create content but to curate it. Most are highly targeted. Some saw the potential in specialised local services. Some saw the need to go mobile to service the public. Some are international. Some are multimedia. A few saw the need to make news fun, others to make news useful.
And Jeff stressed the need for every business to cut a profit in order to survive. We must be capitalist about it now.
Anyone outside of CUNY or the US should read this and take inspiration. Although Jeff’s descriptions are necessarily vague, use them to fuel your own ideas and thoughts for entrepreneurial models. Think about the importance of serving a market, having a niche, finding a gap in the market – and being able to sum up your business in an elevator pitch.
Earlier today a friend showed me plans for an exciting news business in the North of England, which I can’t say anything about at the moment. But all this adds strength to my conviction that, if 2009 was the year of “great media collapse” then 2010 will be the year it rises from the ashes.
The fourth in a series of 6 blogs, each with 6 tips for the next generation of freelance multimedia journalists.
While the news industry is still in an uncertain and uncomfortable state of flux, one certainty has already emerged: journalists can no-longer just be journalists – they must be entrepreneurs too. It’s the difference between the ‘passive’ freelancer who writes to a few editors and waits for the work to come to them, and the ‘active’ freelancer who run themselves as a mini-business.
Until J-schools start adding business skills to the curriculum this will be something we’re all going to have to teach ourselves.
If you went into journalism to become a TV news reporter, and just a TV news reporter, the sad news is those days are over. As are the days of being paid to stay in nice hotels in foreign lands drinking cocktails.
In order to maximise your income, you will need to diversify your skills base. That means selling a range of skills and service, and not just journalism related ones. I know radio journalists who have a nice sideline designing websites, video journalists who run training courses, and photojournalists who work for non-profits.
Training can often be the most lucrative of these – but only consider this if you really know what you’re doing!
Diversify too in your client base. Pity the news-snob who just pitches to the New York Times and The Guardian! The digital revolution means there are more online-only news outfits, but they can be easier to pitch to.
Freelance science journalist Angela Saini offered me this advice recently: “I think it’s almost impossible to survive right now unless you freelance in more than one medium – so as well as doing VJ work, you may have to do radio and print too.”
If you’re a radio journalist you won’t survive as a just a radio journalist. Pitch for video, online, print…everything! Profiling multimedia journalist Jason Motlagh, David Westphal notes:
Motlagh doesn’t just write stories. He shoots still photos. He shoots and edits video. He does audio. He blogs. He narrates slide shows. And because he does all of those things, he says, he has a huge advantage over free-lance foreign correspondents working in a single medium.
Having multiple media skills is “still unusual,” he said. “There aren’t a whole lot of people yet who have gotten up to speed. If you are, you can make clients an offer they can’t refuse.”
02. find new markets
The entrepreneur, although a business profession, requires a lot of creativity. Just ask Richard Branson. From what I’ve gauged you have to be constantly brainstorming new markets and potential clients. And thinking outside the box reaps rewards.
Career evangelist and author of the popular new book Career Renegade: How to Make a Great Living Doing What You Love Jonathan Fields explores how to sidestep traditional career paths to forge your own unique way. He talks about “moving beyond the mainstream” and finding new markets in 6 different places:
- finding a hungrier market
- finding the most lucrative micro-markets
- exploiting gaps in information
- exploiting gaps in education
- exploiting gaps in gear or merchandise
- exploiting gaps in community
The first two are about digging deeper into the industry and possibly connecting two unrelated ones. A great example comes from a friend of mine, film maker Oliver Harrison. He loves cooking, and loves making films but couldn’t find a way to make any money out of either. After a lot of searching, he and business partner Simon Horniblow started talking to universities – and combined the two. They now run studentcooking.tv a very successful online cookery website for students. Would you think to do that? Think outside the box!
To Jonathan Fields:
“In thinking about potential alternative markets, or trying to find smaller, more lucrative submarkets, think about fields, careers, jobs, or paths where the elements of what you love to do are valued, but in short supply. You are looking for a market where your passion leads to: differentiation, hunger [and] price availability.”
Be practical and realistic though: is there really a demand for your new idea?
Here’s 3 examples of journalists who digged a bit deeper to find new markets:
Bootstrapping means starting your freelance business with little or no cash. It means learning how to get things done for free – and most valuable of all – learning to be careful with money.
The great news is you don’t need any money to start out and market yourself. A website domain name will cost you a small amount. But social media means you can market your talents absolutely free (see the previous 6×6 on branding).
Josh Quittner, writing in Time Magazine uses the term LILO – to mean ‘a little in, a lot out': “At no other time in recent history has it been easier or cheaper to start a new kind of company. Possibly a very profitable company” he says. “[bootstrapping] means your start-up is self-sustaining and can eke out enough profit to keep you alive on instant noodles while your business gains traction.”
If this recession has taught us anything, it’s that the best business is built from the bottom up, on the funds available (not borrowed).
04. dealing with inflexible income
The biggest fear of starting a freelance career is money. Oh, and failure. ‘What if I don’t get any business?’ ‘How will I be sure I’ll always pay the rent?’ Truth is you won’t ever be sure, but that’s part of the thrill, right?
Still there are some things you can do to make the ebb and flow of freelance income a little more stable.
A good tip is to open up a separate bank account for your business earnings. Get Rich Slowly offers this advice: “Every month as you earn income, receive it (and leave it) in your business account. This is where you accumulate your cash. Because it’s in a high-yield account, it earns interest as it waits for you to use it.”
They recommend paying yourself a monthly salary from that business account – and leaving the rest for tax and other investments. The worst thing is to use the profits from a bumper month to pay for a bumper holiday, only to return to slim pickings.
But the best advice for living on an irregular income? Learn to live lite. Cut back on unnecessary spending wherever you can. Back to David Westphal profiling Jason Motlagh: “He lives modestly and accepts that there may be periods in his work where he’ll have to do something besides journalism to pay the bills.”
05. find your creative time
Sure, for some freelancers the appeal of being your own boss is getting up at 10, watching some TV, doing some work, heading out on a night out without the guilt…and that might work for some. But the creative entrepreneur’s life is most likely to be a different one.
After scanning my diary and surveying the tasks in hand, I was faced with a depressing conclusion. I was going to have to get up early.
He’s up at 6 in the morning, every morning, getting the crap out the way, like emails and the like. He then says he has several hours free to work solidly on creative tasks, before the rest of the world gets up and the phone starts ringing. Know when you are at your creative best and ring fence it, so you can’t get disturbed. It might be 6am, it might be midnight. Whatever, just make sure it’s protected.
…when I look back over the last couple of years, the time when I’ve created most value, for myself and my clients, has been those first hours of the day I’ve spent writing blog posts, essays, seminars and poems. It’s the creative wellspring that feeds into all the coaching, training, presenting and consulting I do when I’m face-to-face with clients.
Treat it like a full time job too. If you can, work somewhere where you can commute to, or have some ringfenced office space at home. I recommend Mark’s excellent (and free) ebook “Time Management for Creative People“.
06. be lean, but don’t be mean
If you’re dreaming of going freelance, you might be thinking about holding off until after the recession. No need, says Leo Babauta 0f Zenhabits fame:
This is the best time to start. This is a time when job security is low, so risks are actually lower. This is a time to be lean, which is the best idea for starting a business. This is the time when others are quitting — so you’ll have more room to succeed.
And with social media and networking taking off, this is the easiest time to start a business, the easiest time to spread the word, the easiest time to distribute information and products and services.
Starting now though won’t be easy – and you’ll need to be lean. But that is such an important skill to keep things afloat later on. Be sensible with your money, don’t overspend. It’s the thing the big companies can’t do, and the reason they lose money hand over fist. And don’t be mean: journalism is a small village – make friends and keep ‘em!
The final word:
Journalism.co.uk offer some great practical advice for freelancers, which cover things like registering as self-employed, pitching for new work and managing finances. And if you’re still unsure of taking the entrepreneurial route, just watch this:
Next: audio for multimedia journalist!
It’s been a busy few months on here! Here’s a wrap up of the journalism related posts since my last summary back in April.
The future of journalism
This is why we’re entrepreneurs :: an inspiring video which makes any creative want to leap off their seat, start a production company. NOW!
Why Journalists Deserve Low Pay :: Richard G Picard’s article makes me realise the utter foundations of journalism have changed and are no longer economical
Life After Newspapers? :: the newspaper journalists who are reinventing themselves after being made redundant
Future of Journalism presentation :: in June and July I gave a couple of presentations outlining the crisis in journalism and it’s possible future. You can watch it here.
Noded working: a new way to do journalism? :: how noded working can help the new generation of freelance creative entrepreneurs
Introducing: the journalist of the future :: some of you said it was great, others naiive, others optimistic; others said it was rubbish. Whatever you might think, if you haven’t read it yet, here’s my picture of the skills and abilities of the journalist of the future.
The Journalist of the future: your reaction :: a neat summary of what some of you guys said about that article
One Week In Iraq :: how I put together my small multimedia piece reporting from Iraq
History Alive! :: two brilliant examples of how multimedia can be used to bring history to life
Choose your multimedia, wisely :: a look at the individual strengths and weaknesses of video, audio, images and interactivity. Now choose it wisely!
Open Source for multimedia journalists :: a brief skit over popular open source software the multimedia journo should have in their armoury
What does #digitalbritain mean for journalism? :: why Lord Carter’s Digital Britain Report is a massive FAIL for journalism
There’s been enough talk about the cancer spreading through modern journalism. The cutting of jobs and money, the shedding of audiences and advertising, the invasion of PR guff and the medium’s failure to reject it; and vitally, the disappearance of time for journalists to do some proper journalism.
I’m tired of talking about the past and want to know what’s coming next. Here’s my picture of a future journalist, based on books, blogs, a couple of talks I’ve given recently and all the noise on Twitter. As always, it’s by no means comprehensive – so let me know what’s right and wrong in the comments box!
Introducing: the journalist of the future
This combines the technical skills the new journalist will need (plus the old ones), new ways of collaborating with audiences and journalists across the globe; and most importantly an entrepreneurial edge to create an army of “creative entrepreneurs”.
The Jack of All Trades
Let’s get the obvious ones out of the way first: the journalist of the future is a reporter, a video journalist, a photo-journalist, audio journalist and interactive designer, all-in-one. They shoot and edit films, audio slideshows, podcasts, vodcasts, blogs, and longer articles. They may have one specialism out of those, but can go somewhere and cover a story in a multitude of platforms.
They may start off hiring the kit, but eventually will become a one-person news operation, with their own cameras, audio recorders and editing equipment.
They don’t just do it because it potentially means more revenue; they do it because they love telling stories in different ways. And let’s get another thing straight: they still live and breathe the key qualities of journalism: curiosity, accuracy and a desire to root out good stories and tell the truth.
The Web Designer
It goes without saying the journalist of the future should know several languages, two of which should be XHTML and CSS (and the more spoken ones the better). Their ability to design interactive online experiences will give them an advantage over competitors and a chance to charge more for their work.
They have an amazing portfolio website which shows off their wares.
They understand audio and video for the web does not follow the rules of radio and TV. They know what works online and what doesn’t. They can use social media to drum up interest and audiences in what they do, and are members of LinkedIn, Wired Journalists, Twitter to name just a few.
And it also goes without saying the journalist of the future has been a blogger for a long time.
The journalist of the future doesn’t belong to the world of “fortress journalism“. They don’t sit at their desk in a newsroom all day – in fact, they work from home.
They use Noded Working techniques to find collaborators for different digital projects; picking the most talented people from around the world. There are no office politics or long meetings. They market their work well enough to get chosen to take part in other projects.
And the journalist of the future aspires to the ideals of Networked Journalism set out by Charlie Beckett. They are not a closed book obsessed by the final product. Their journalism is as much about the process as the final product and they use social media technologies to get reaction to stories, find contributors, experts and even money. To top it off, they share their final product under the ethos of creative commons so others can build on it.
The internet has shown we’re just not prepared to pay for general news, especially when someone else is giving it away for free. The decline in newsrooms killed off many correspondents and specialists, but the journalist of the future knows there’s more money and more audiences in a niche. So they become more of a specialist in some areas, or use a current specialism to build an audience around what they do.
Science journalist Angela Saini, for example, uses her qualifications in the subject to get her work with a whole host of TV and radio science programmes.
Business, showbiz and sports news I think have a paid-for future – but so do other specialisms.
The Flexible Adapter
The journalist of the future will be born out of this recession and the death of traditional journalism. They’ll succeed now because they adapted, re-trained and were prepared to change their ways. And that is what will help them survive the next downturn too, and the next media revolution. They are flexible, creative and not stuck in their ways.
Mark Luckie, writing over at 10,000 Words says this ability to reinvent is really important:
…being a Jack of all trades is only the starting point. Journalism and its associated technologies are changing at a rapid pace and to learn one skill set is to be left in the dust. Sadly some of the technologies…will be obsolete in just a few years time. To survive in this industry means continuously evolving along with it.
They embrace new technologies, rather than view them as a threat. When a new social media tool or technology comes along, they ask themselves how can I use this?
And they are prepared to live light for a bit. They can live cheap, which means they can charge less and get more business. As David Westphal writes, describing journalist Jason Motlagh:
He lives modestly and accepts that there may be periods in his work where he’ll have to do something besides journalism to pay the bills.
The journalist of the future is a Creative Entrepreneur. Their business is their talent, creativity and knowledge. They are a freelancer, yes, but not a slave to the odd newsroom shift or rubbish PR story; instead they are in command of their destiny by creating content people will pay for. They discover stories and generate new ideas and sell them.
Back to Charlie Beckett in Networked Journalism:
“Entrepreneurship must be part of the process because every journalist will have to be more “business creative”…Journalism and business schools should work more closely together as information becomes more important to the economy…”
Their multiple skills means they can pitch countless ideas in several formats, for a wide variety of clients. They run their new start-ups in the get-rich-slow mentality described by Time Magazine as Li-Lo business:
It means that your start-up is self-sustaining and can eke out enough profit to keep you alive on instant noodles while your business gains traction.
And they think outside the small journo bubble: their clients aren’t just Cosmo or Radio 4, but B2B publications, charities, NGOs. They get grants from journalism funds to pursue important and under-reported stories.
Evidence has shown several sacked newspaper journalists have made a new career by remembering newsrooms aren’t the only people who pay for content. Brian Storm, from MediaStorm, quoted in PDN Online says:
“NGOs and corporations are just now starting to see the power of multimedia stories…A pr message has no authenticity. It won’t go viral. Organizations are looking for a new way to get their message out, and journalists can play a role in that.”
And most importantly they do the thing all journalists have ever done: tell stories. But they do it better than traditional journalists because they are not so constrained by time or house styles or formulas. They understand what makes a good story and aren’t afraid to break some rules.
And they have the time to tell the stories properly: truthfully, accurately and responsibly.
I think these make up an exciting future for journalism, but also for the people who try this form of journalism out. Is there anything more exciting than being such a creative entrepreneur?
There’s never been a better time, I tell students, to be a journalistic entrepreneur — to invent your own job, to become part of the generation that figures out how to produce and, yes, sell the journalism we desperately need as a society and as citizens of a shrinking planet. The young journalists who are striking out on their own today, experimenting with techniques and business models, will invent what’s coming.
Dan Gilmore, Centre for Citizen Media