Recently, Lori Lewis tweeted out a Huffington Post piece from Craig Kanalley that will get you thinking:
“10 Smart Quotes from ‘Innovation Uncensored’ Conference”
Sponsored by Fast Company, the conference took place in New York City and it included an impressive array of luminaries and contemporary businesspeople.
Click on the link above to peruse all these words of wisdom, and perhaps select your favorite. But without a doubt, here’s mine:
For those of you who have started something – a new format, a new morning show, a new business, or a new career – you know the wisdom of Dorsey’s words. The term “entrepreneur” gets bandied around a lot these days. It often has a very glamorous, swashbuckling image.
But the reality, as Dorsey points out, is that there can be great moments of triumph but also incredible chasms of disappointment. Not to mention loneliness. Because when you have a great concept, everyone predicted it would happen. But when it doesn’t work so well, many conveniently forget all about it. Or they told you so.
Not just anyone can be a Mark Zuckerberg, a Bill Drake, a Steve Jobs, or a Lee Abrams. But for those who have experienced the ride, there’s nothing else like it.
I think back to my days working for Frank Magid and the group of people who were all there at the same time: Bill Moyes, Alan Burns, Jon Coleman, Bruce Fohr. All of us ended up successfully starting our own companies – in some cases, more than one venture. Back then had you told us that we would all become successful media entrepreneurs, I don’t think that would have registered. But something about that entrepreneurial atmosphere in Marion, Iowa spawned a lot of great research and consulting enterprises. At times, working for Magid felt like riding a roller coaster, so we must have gotten used to the thrill.
In radio, we sometimes have a tendency to rapidly put the kibosh on new, unfamiliar sounding concepts and formats. The phrase – “It will never work” – is so much easier to say than “Let’s give it a shot.” Or as Seth Godin would say, “Ship it.”
Today in radio, we are very much in need of more people who are willing to strap in and take that ride. As well as more managers who give the nod to making that possible.
Whee!
Jacobs Media has consistently walked the walk in the digital space, providing insights and guidance through its well-read national Techsurveys.
In 2008, jacapps was launched - a mobile apps company that has designed and built more than 1,300 apps for both the Apple and Android platforms. In 2013, the DASH Conference was created - a mashup of radio and automotive, designed to foster better understanding of the "connected car" and its impact.
Along with providing the creative and intellectual direction for the company, Fred consults many of Jacobs Media's commercial and public radio clients, in addition to media brands looking to thrive in the rapidly changing tech environment.
Fred was inducted into the Radio Hall of Fame in 2018.
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Fred. Once again, Spot On! No home runs if you’re eye’s not on the ball, don’t swing or not in the line-up. Clutch hits are timely and essential.
Clark, thanks as always for the insights. Sometimes it’s just that simple.
I think you may have touched on radio’s biggest problem right now. A few people are making EVERY major decision in too much of radio. Someone’s potentially great idea is distilled down to an elevator pitch on a 5 minute call that may or may not be rescheduled a few times with a very smart, but overworked person who can’t possibly have any feel for the local impact of an idea.
This isn’t a prescription for innovation. I think the balance between long term health and economies of scale has shifted too far in the direction of cost savings – although I understand that there won’t be a next year if you can’t deliver next quarter. But there isn’t a cost savings to consolidating decision making – yet it brings a real innovation loss.
How many large market PDs can add a feature without corporate approval? How many Digital managers can do something as simple as adding a link to their website without a lengthy walk up some corporate lane? Most of radio’s competition for ears and eyes aren’t similarly restrained.
Just sayin…
Bob, thanks for the point of view. I think it is very possible to have an entrepreneurial spirit run within companies, encouraged by the corner office. Being an entrepreneur doesn’t necessarily mean starting a business – it speaks to the spirit that managers and line-level employees are encouraged to display. Appreciate you reading the blog and contributing.
Echoing what Bob said…I don’t think radio lacks for innovators. Radio lacks the corporate courage or willingness to take chances. As Pogo said, we have met the enemy and he is us. Name one new innovation or risky concept radio has undertaken in the last 5 years. What was the last thing radio did that created any sort of buzz? what is sad is that radio – as an ad medium – still works quite effectively and is more proven than digital.
There’s a palpable fear inside many companies, and a lot has to do with Wall Street, covenants, and the investment community. Inside every radio company, the industry needs an entrepreneurial spirit, and some companies are doing this, albeit not always in big, visible ways. Thanks for the thoughts, Steve.
I think radio is still wooing Wall Street when it has long since moved on to other sweethearts. Most radio companies are now well within their lending covenants, but companies that don’t show 15%+ growth seldom get any love from Wall Street.
Radio might do well to chart its own course with respect to innovation and its processes. Wall Street focus will crimp any sectors entrepreneurial spirit and in radio’s case its unlikely to have much positive impact on its companies share price(s).
I believe you’re right – it’s always easier to say “no.” Some innovation to get people – and yes, even investors – talking about radio would be a great thing. Thanks, Bob.
Thanks, Fred. Good post. My favorite one-liner about being an entrepreneur is from Reid Hoffman, the VC co-founder of LinkedIn … Entrepreneurship is throwing yourself off a cliff and building a plane on the way down.
Good one, Dave. It does, in fact, feel like that at times. Thanks for chiming in.