As I travel around the country interfacing with broadcasters in every sized market, I continue to hear some of the same concerns about our business. There's no shortage of passion for radio, and a continued strong belief that our industry will find its way to success in the new media age.
By the same token, there's also a lot of talk about the need for new thinking and innovation. Yet, the vast majority of those running radio stations (and research companies and consultancies) are all people who grew up in the business. Imagine what might happen to a radio station or radio company, for that matter, if it were taken over by someone from a completely different industry. Like the Internet, for example.
What kind of new ideas and approaches would someone like Craig Newmark, founder of craigslist, take if he ran a radio company? Their site gets 700 hits a minute, and has redefined classified advertising, job searches, and even dating networks on the Internet.
So, what is Newmark's formula for running a successful company, and how can those of us in radio benefit from his wisdom as we attempt to redefine our businesses?
Of all places, The Costco Connection features Newmark this month in Costco's magazine. And they had him make a list of the five most important tenets for a new business. When I read them, they literally jumped off the page: