News organizations need entrepreneurs

I’ve long argued that the news industry’s current economic crisis is due in large part to a lack of R&D. It’s not in the DNA. For too many decades, the products didn’t change and the profits rolled in.

Now, entrepreneurial journalism is working to fill that void.

In the recent issue of Inc. magazine, William Dunkelberg, chief economist at the National Federation of Independent Business offered this key insight in the overview piece on the Inc. 500:

“Entrepreneurs are the R&D for the economy.”

Hopefully, they will be the R&D for the news business, too. We all know it needs them.

True research and development means painstaking pursuit of an idea. It’s not the try-it-today, ditch-it-tomorrow model that most news organizations are forced to use since the innovators are the same people managing the daily news report.

I think it’s up to them – dare I say “us” – to help save the news business.

You can leave a response, or trackback from your own site.

Leave a Reply