‘This is a Fantastic Time to start a newspaper’ published by Gerson Lehrman Group is well worth reading. Written from a US marketplace perspective, it argues that now is an excellent time to launch a newspaper. The artline lists several reasons for this. The last reason is the one which interests me the most: Technology and innovation will change the business model.
We don’t see this in Australia yet, but it will come. Our challenge is to be ahead of this wave by have alternative traffic generators in our businesses, shop firts which serve us and not one or two suppliers and an overall business model which leverages our position through the change with existing important suppliers like newspaper publishers.
The article is another call to action for it, not just about newspapers but about the newsagency model more broadly.
We start by cutting out inefficiencies in our businesses. This means stopping some decades-old practices. If a product or service is not profitable. Stop. No contract can force you to lose money.
We need to look ahead, over the horizon and not back at old practices.
We will make our own luck through this transition.