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December 20 2011

15:20

7 Ways Salespeople Can Better Understand the Editorial Side of News

There was quite a reaction to my previous column, suggesting editors learn more about, and cooperate with, the business sides of their organizations.

This time, I'd like to talk to people on the business side about how they can cooperate with the editorial side to work effectively to keep a news organization solid while also increasing revenues and ensuring the organization's survival.

First, though, let me respond a bit to the critics. A lot of the comments, on Facebook, Google+, blogs and elsewhere indicated people had read the provocative headline, "Tear Down the Wall Between Business and Editorial," perhaps a subhed or two, but not the piece in full, or even half. Some were nasty, political or ad hominem attacks (one called me Mr. "Bank Oil," the kind of play on my name I hadn't heard since elementary school), others were amusing, and a fair number were supportive and thoughtful.

One careful and considered rebuttal came from the liberal Common Dreams site, which called me "oblivious to the dangers of basing your business model on giving the sponsors what they want."

I'm not. But I have seen multiple news sites struggle to survive, including ones where I've had to cut staff.

Common Dreams asks for donations, and I hope they get enough to support their operation. Most news organizations, though, cannot survive on charity. Many are in deep trouble and have gone out of business or are struggling to survive.

News media executives and entrepreneurs -- including one who praised the previous column -- have told me how pained they were at their inability to financially sustain sites they considered superior editorially.

Overcoming Skepticism from Editors

timr.png

"With many news publishers, the online brands haven't had the revenue to support the reporting and editorial operations, let alone the rest of the staff and infrastructure that's needed for a modern news organization," Tim Ruder, chief revenue officer of ad optimization company Perfect Market, told me last week.

Ruder has often faced skepticism and even the ire of editors at major news companies when offering his company's technology, which optimizes page layout and links to get more readers in and serve them higher-value ads. The editors, understandably, don't want their pages changed in any way.

But, Ruder continued, "If these type of revenue opportunities can support the newsroom without compromising reporting, that's not to be ignored."

The news is not all glum, either. I have seen entrepreneurs make a business out of news while cultivating their ability to do great work.

Part of the reason is their keen focus on what matters most. Which leads me back to the point of this column: How the business side can intelligently do its work to sustain and enhance the organization over time.

1. Remember, It's the News Business

Your product is news. News is nothing without credibility -- and that credibility can be damaged by the wrong kind of ads or sponsorship. I spent a lot of my time at ABC News explaining to the sales side why we couldn't do one thing or another while trying to suss out the advertisers' goals to reach them within the bounds of editorial tenets.

After all, the credibility and association with your site is a good part of the reason advertisers want to be on it. Without that credibility, they'll lose the venue to get the word out about their products.

If something you're proposing calls the reliability of the organization -- its credibility or trustworthiness -- into question, that damage is very hard to recover from.

2. Know and Advocate For the "Product"

I've worked with salespeople who seem to see a news page as an array of ads, with the text and pictures simply filling up the space in between.

Even if you think of the business as only a business, not a special public trust, you have to respect the product and not bastardize it in the name of making quick money. Part of your job should be to help sustain the business over the long-term.

You can't really sell the news unless you have a powerful, abiding respect for what it is and can do, the ways it serves, informs, motivates and even impassions a community. You'll be much better able to intelligently sell the advertiser on that community if you understand what motivates the people in that community, in addition to their demographic profile.

3. Get At The Client's Real Goals

Sponsors will sometimes try to push the envelope, or get something they've envisioned that's not on your site. They'll ask if they can put this extra doodad here, get that ad size or flashy thing there.

When it's not possible, any intelligent sponsor or media buyer should be able to tell you something of what the goals are. Maybe you can offer that special something in another way, or achieve their aim with an offering you already have in your arsenal.

Sponsors who are considering your organization are doing so not only because you offer them exposure to a certain user base or group, but also because of the environment they get to be in.

It can be a bit of work, especially when you're dealing with media buyers who are trying to fit you into a spreadsheet model as part of a larger buy. But I've found that more often than not, there's a way to help them understand, then reach an accommodation.

4. Understand the Line, Then Help Hold It

It's very tempting when there's money on the table to say "yes," then run to try to get the request fulfilled. Cultivate and listen to the voice in the back of your head that will tell you when something goes a little, or a lot, too far.

A sponsor may request something you are pretty sure won't fly. First you have to understand why. It's not enough just to know the rules. You have to grasp the reason you can't do something a sponsor is asking.

I give a flat "no" when asked if sponsorship would guarantee news coverage of a given client and am ready with very clear reasons for giving that answer. I also then work to get at the client's underlying goals to find a way to reach them within the strictures. (See the previous point.)

To salespeople, editors can seem like "no" machines. If an editor objects to something you're proposing to offer, he or she may seem obstructionist, but there may be a legitimate reason.

Just as I called on editors to work with the sales side, the sales side has to understand the editorial imperatives and try to work within them. It helps, too, if the business side works with the editorial side to devise the strictures.

5. Work With the Editors, and Let Them Help You

Having a strong relationship with editors can beget other benefits. Mike Orren, founder of Pegasus News, a site that serves the Dallas-Fort Worth area, put the newsroom and sales teams in the same room.

MikeOrren.jpg

"Our ex-newspaper restaurant critic was yelling across the room saying there was a review coming, and the sales team might want to pitch them," he said, noting that the critic didn't say whether the review was good or bad. Either way, the sponsor might want to be there -- if the article is negative, the sponsor may want the opportunity to counter that perception. But "never was she [the critic] going to let somebody tell her how to review a restaurant," Orren said.

The sales team also helped the editorial side. "Sales would tip the editorial team that someone wasn't paying bills and maybe were going to go out of business," Orren told me at the Street Fight Summit earlier this fall. "We got more scoops out of our sales team than probably anywhere else."

6. Don't Underestimate How Hard It Is To ...

  • Get a story. The text and video you see that magically appears day after day takes a lot of time and effort to gather, edit and produce -- especially in a reliable and trustworthy way. A lot of reporters work all hours and sacrifice health, sleep and social life to get a story. Understand and respect that dedication. It can be a lot harder than it looks.
  • Get people to look at it. A lot of the work of getting people to discover a story once it's been produced falls on the editorial team, especially in the digital realm. That, too, takes time, effort and understanding of the community.

7. Now, More than Ever

For a few decades, news in America had a heyday of nearly unsurpassed profitability brought about by advantages such as high barriers to entry, limited distribution channels, and advertisers with few other ways to reach consumers. Salespeople could literally sit and wait for the phone to ring.

"It's like printing money!" one publisher gleefully exclaimed to me, holding up a classified page on which every column inch represented more dollars.

Those reliable and hefty profits supported all kinds of editorial efforts that, unfortunately, can no longer be sustained in the same way.

As the industry restructures, I have suggested editors learn how the business works and how far they can go to help it without compromising the operation. Sales needs to understand that "money talks" but the people making "the product" are ultimately responsible for whether it's worthwhile for those who consume it.

I want to see news organizations survive and do great work, and I believe that today, the only way to ensure that is to take a more holistic approach to the business of news.

An award-winning former managing editor at ABCNews.com and an MBA (with honors), Dorian Benkoil handles marketing and sales strategies for MediaShift, and is the business columnist for the site. He is SVP at Teeming Media, a strategic media consultancy focused on attracting, engaging, and activating communities through digital media. He tweets at @dbenk and you can Circle him on Google+.

This is a summary. Visit our site for the full post ».

December 07 2011

15:20

Tear Down the Wall Between Business and Editorial!

For too long, reporters and editors have been unaware, even hostile to the business sides of their organizations. Those attitudes have helped push the news industry into its current dire state.

And that's why I say: Tear down the wall between business and editorial.

Before you start sharpening your pitchforks, hear me out.

I'm not proposing a free-for-all money-grab that destroys journalistic imperatives. I am calling for those who make the "product" to learn how it's sold so they can better do their jobs and contribute to the bottom line.

If editorial staff is the first to be pared in news organizations, perhaps that's in part because they haven't known enough to make a strong business case for what they contribute.

Jim Brady, the former executive editor of WashingtonPost.com, and now the editor in chief of Journal Register Company, seems to agree that journalists need to learn the business ropes.

Jim Brady

"We don't want to see people sent out into the world slaughtered by the wolves because they don't know anything about the business side," he said at this year's Online News Association conference when I asked his thoughts on journalists learning business principles.

MediaShift managing editor Courtney Lowery Cowgill, co-founder and former editor in chief of the now-defunct New West, was also encouraging. She told me that while she and others were building their sites, they were stymied while trying to get advice on how to support the news businesses while maintaining proper standards.

"Friends in similar startup situations were struggling with how to blur the lines in an intelligent and ethical way," she said. "There was nobody to help us with that. They were all just saying, 'No, no. Don't do it.' We all need a roadmap for how to do it, a good guide on how to do that ethically, intelligently and efficiently."

Here, I hope, is a start.

Remember: It's a Business

One place to start is attitude.

Can you name another business in which the people who make the key product are allowed, even encouraged, to be ignorant of how they make money?

I've found many journalists to be uncomfortable with money. But money is lifeblood. As much as you might labor to get a story in before deadline, you'll sweat bullets when you're responsible for payroll and the money isn't there.

A for-profit business is just that. That profit is what lets you not only continue another day, but also gives you the freedom to determine your own mission.

Yes, the news business is special, and has a special trust. But many businesses are, and some of them -- such as health care and food -- deal much more literally with issues of life and death. They, too, must juggle ethical and commercial imperatives while doing their work.

Keeping the public trust, even one protected by the Constitution, is not contradictory with the the idea of making your enterprise financially self-sustaining.

The more revenue you have, the more creative ways you can use it to produce a better product, and the more diverse the revenue is, the less beholden you will be to any single source.

Know the Business

The more you know about the business workings, the better arguments you'll be able to make to gain resources to do good work. You can point out the profits one section you're handling brings in that can support another effort you believe in.

You may be able to make a case that something that seems like a cost center will, over time, create new efficiencies or revenue-enhancements. You can note that an investigative story may not bring in advertising, but it could bring in page views that you can show lead to new advertising or subscription revenues.

Even better is if you can back up your case in a way a business person can understand, by using data to make a cogent case that applies to the bottom line.

Understand the Finances

The more literate you are about the finances, not just income, assets and depreciation, but also cost of capital and market conditions, the better you'll understand the reasoning behind some decisions.

The better grounding you have in the finances, the more respect you'll have for the business on both the income and expense sides -- and the more you'll want to control costs, or spend appropriately to get the job done.

You'll be able to see the company through a business lens. You'll put yourself in a cooperative, collegial position, rather than going begging to the money people with hand out.

If you're running your own operation, the better you'll know how close you are to meeting payroll, or how creative you can be to raise some funds.

If Sales Influences Editorial, It's OK

Do you think newspapers run separate real estate, car or fashion sections for editorial reasons? Or could it be because those sections generate healthy profits?

It's fine if commercial reasoning influences editorial projects, as long as the projects fit into your overall mission. Let me give an example from MediaShift.

We have sometimes adjusted timing on stories or special series if there was no good reason not to in order to accommodate a client who wanted to sponsor them.

Sometimes we've even extended a series by a couple more stories than we might have without the added funds. Producing that extra content can be additive and contribute to the richness of the site.

If we can serve our community and earn revenue at the same time, that's a home run.

We are mindful of the danger of working so hard to serve sponsors that we neglect the needs of the larger community. That's very important.

Create Things That Make Money

Sometimes, you'll package material in a way that garners interest from viewers and sponsors. Packaging and repackaging can be a great device.

It's easy to demean "link bait" such as "Top 10" or "How To" lists, but if your users like and share them, and they generate profitable page views, is there really harm? If there's sponsor interest, all the better.

You can also launch efforts to make money in order to support other operations that don't. I'll later be writing a column about news companies that have done everything from sell web consulting services to hand out sponsor postcards at local gatherings.

Try to Get to 'Yes'

A former managing editor at Newsweek (where I used to work) once told me proudly of throwing a salesperson for the magazine out of his office with harsh words.

Perhaps, instead, he could have worked to help craft a solution that met the advertiser's needs without violating Newsweek's core principles.newsweek_headroom_max4aa.jpg

There were times at ABCNews.com, where I was a liaison between the sales and editorial sides after having been a managing editor, when I created products the editorial team accepted while explaining justifiable limits to the sales team.

I have, as a journalist doing business deals, sometimes had to fight the urge to give a sponsor an outright "no" to one of their ideas, and instead tried to glean their ultimate goals and worked together to find an acceptable way to meet them.

Be Willing to Say "No"

You also have to be willing for the long-term health of the business to say "no." You may be asked to do things you consider unsavory. You have to have the spine to make a sponsor uncomfortable, as MediaTwits podcast co-host Rafat Ali did at his former site, PaidContent, when he reported on a sponsor in a way they didn't appreciate.

Advertisers rooted in your community (whether that's a community of professionals, of like-minded individuals, or of geographic proximity) will usually understand if you explain that a request they're making could damage the operation's credibility. That damage will also damage their ability to have their message in front of a happily engaged community you've worked hard to amass.

You do need core principles that can't be bent -- even if that means the business doesn't meet payroll. Remember the point above about diversified revenue streams? The more there are, the less any one sponsor can damage you.

Be Prepared for Uncomfortable Conversations

In smaller communities, the people who sponsor a news operation can be the ones being reported on. They'll ask for favors. You and people you work with have to be able to explain, even in the midst of reporting, what can and can't be done on their behalf.

At the risk of repeating: The more profit your company makes, the more leeway it has to do its work, to remain independent of government or other interference, and the more freedom to do good work.

An award-winning former managing editor at ABCNews.com and an MBA (with honors), Dorian Benkoil handles marketing and sales strategies for MediaShift, and is the business columnist for the site. He is SVP at Teeming Media, a strategic media consultancy focused on attracting, engaging, and activating communities through digital media. He tweets at @dbenk and you can Circle him on Google+.

This is a summary. Visit our site for the full post ».

July 27 2011

05:28

Android will outpace Apple’s sales ... but also sometimes in return rate (30-40pc vs. 1.7pc)

TechCrunch :: It’s generally accepted that, on the aggregate, Android device sales will far outpace Apple's iOS sales year after year. However, there’s a dirty little secret about Android devices that most manufacturers are facing: the return rate on SOME Android devices is between 30% and 40%, in comparison to the iPhone 4′s 1.7% return rate as of Antennagate in 2010.

Via emedia vitals

Continue to read John Biggs, techcrunch.com

July 25 2011

21:33

The (hyperlocal) journalist and the salesperson - a question of financial sustainability

Street Fight Magazine :: There are, of course, sites with journalists at the helm that take financial sustainability very seriously, but there are also plenty who are quick to name themselves the “publisher” of a news site but seem to always find better uses for their time than seeking advertisers, writing business plans, or analyzing a balance sheet. 

[Michael Meyer:] I worry about the future of my profession when I see large segments of the online news industry failing to rigorously test the kinds of revenue models journalism needs to survive.

Michael Meyer is staff writer at Columbia Journalism Review. He runs the News Frontier Database, which he has been building for six months now. In that time he has edited and written profiles of nearly 150 digital news outlets throughout the U.S. 

Ask yourself: what kind of revenue source does your news site support?

Local Ads National Ads Print Ads Donations Endowment Events Grants Membership Merchandise Sponsorships Subscriptions Syndicated Content Training Transactions Venture Capital Other Revenue    

Source: taken from the questionnaire of the News Frontier Database - the checkboxes are only for illustration purposes, no more not less.

Continue to read Michael Meyer, streetfightmag.com

 

July 21 2011

06:44

Yahoo's revenue since Carol Bartz took over: "unsatisfactory"

Business Insider :: Last night Yahoo delivered an "unsatisfactory" quarter of revenue according to CEO Carol Bartz. She blamed "changes to our U.S. sales leadership, which led to changes to our sales org structure, and then to changes in our sales force" for the weak quarter. Bartz says it had nothing to do with "competitive developments" or a "weak economy."

Continue to read Jay Yarow | Kamelia Angelova, www.businessinsider.com

July 20 2011

04:51

News business - Infographic: how sales messaging affects conversion rates

It is widely known that sales messaging affects conversion rates on e-commerce sites, but what works and what doesn't? Do button colors really impact sales? What can you change about your site to reach more customers and to increase profits? Which headlines are more effective? Better use a red or green button? "Add to cart" with text or graphics? Call to action on a button? Do trust badges work?

Continue to the infographic www.zippycart.com

04:37

The evolution of Apple's business: iPhone and iPad are now 66pc of its sales

SAI | Business Insider :: The iPad is already the second biggest part of Apple's business as measured by revenue after less than two years on the market. In the June quarter, the iPad generated $6 billion in revenue versus the Mac which generated $5 billion. The real story for Apple continues to be the iPhone which did $13.3 billion in sales for the quarter. The iPhone and iPad are now 66% of Apple's sales, impressive considering how relatively new the products are.

Continue to read Jay Yarow | Kamelia Angelova, www.businessinsider.com

June 11 2011

04:33

Amazon - $6.1b in sales: the Kindle is starting to be big part

Business Insider :: Read figures with a grain of salt because it's based on estimates, but Citigroup analyst Mark Mahaney says Amazon's Kindle eReaders and Kindle eBooks will contribute 10% of Amazon's sales by the end of next year. That's $6.1 billion in sales based on 26 million Kindles, and 752 million ebooks sold.

Continue to read Jay Yarow, www.businessinsider.com

February 22 2011

14:00

Help Spot.Us Find a Path to Financial Sustainability

Spot.Us recently launched a new design, so this is an opportune time to write a "State of the Spot" post -- something we haven't done since the website was six months old. I hope to lay out how far we've come and what's on our plate and make a call to arms to the Spot.Us community and anyone else interested in the future of journalism.

In the two years since our site has launched, we've funded over 160 projects with the help of 5,000 contributors, a fifth of whom contributed more than once. We've done this in collaboration with 95 organizations, and our reporting projects have won eight journalism awards.

In short, we're making a difference. Whether it's funding FOIA requests, exposing the lies of a sheriff, or providing a deeper understanding of those less fortunate in our society, the stories we fund make a difference.

I earnestly believe in the power of an informed democracy. The guiding principle at Spot.Us is to make the process of journalism more transparent and participatory -- not merely to inform but to engage. Our site is a testament to the notion that people can take ownership over their information needs if there is a platform to support it.

Partnerships make our impact bigger. Take Oakland Local, for example, which has invested $700 into Spot.Us pitches and received $7,000 worth of reporting in return. Whether it's Mother Jones, The UpTake, WitnessLA or the myriad news organizations (many of them non-profit or community-based) we've collaborated with, our collective efforts allow stories to gain a wider audience, and we empower partnering organizations to do the fearless reporting that our communities need.

Room for Improvement

With all that said, I'm not satisfied. As Clay Shirky noted, our communities can become rife with "casual endemic corruption" if we don't figure out how to keep the public informed and engaged. The Spot.Us platform can and will improve to continue this fight.

Our redesign is an example of forward momentum, and now it's time to tackle the next hurdle: How can Spot.Us become a fully sustainable organization and increase the number of stories we support? Although 2011 looks to be promising, I'm already taking time to look to 2012 and beyond.

Running a startup organization means making choices. This is my attempt to explain to the Spot.Us community, journalists, and others who follow us what choices I'm debating, what obstacles we're facing, and to ask for your advice.

One of the biggest Spot.Us. opportunities is its unique sponsorship model. I've written about this at length before -- from announcing the idea to launching it to seeing early success. As far as I know, we are the only media organization experimenting with the idea of letting the public manage our advertising budget. It's our budget, but your decision. In many ways, this idea is as revolutionary as Spot.Us itself. Community members can fund a story without spending any of their own funds. Meanwhile, sponsors get meaningful engagement from community members, which can turn into tangible return on investment. Our advertising is transparent, participatory and therefore jibes with the mission of Spot.Us to get the public involved in the process of journalism. We are just acknowledging that advertising is part of that process.

Our sponsorship feature has created an important revenue stream for Spot.Us. At the moment, however, it doesn't offset our burn rate. The challenge is getting enough sponsors when we have no sales team (my spare time doesn't really count). We also need to find the right sponsorships which will engage community members so they continue to come back. This is compounded because our model is unique. I haven't found a media planning and buying agency to take it on, even though I'm offering a higher-than-normal commission.

How You Can Help

Tackling this challenge is one of the things I'm working on during a good chunk of my remaining time at the Reynolds Journalism Institute. Any help from a community member on the below action items would be greatly appreciated:

  1. Join Spot.Us and try our latest sponsored survey (free credits) and give me feedback on the experience. Take the challenge of doing the next three sponsorships we have planned (the next one will be sponsored by us to get feedback on how to better sell these).
  2. Help create the sales material for our sponsorship model -- maybe even find an individual or agency to take on the process of selling for a commission.

  3. Draft a long-term business plan with a road map for how Spot.Us would have to scale to become sustainable.
  4. Write a handbook for community-funded reporting, which would be a gift to the larger journalism community.
  5. And finally -- an A.P.I. with PRX, ASAP.

The Nitty Gritty

Allow me to elaborate. First, in regards to the material to sell sponsorships, our current sponsorship page doesn't do the concept justice. I can talk almost anyone's ear off about this model. We have some data about our users, but it hasn't been presented in any kind of media kit. Hopefully, a media planning/buying agency or an independent ad-sales person could use this material. I'm comfortable sharing a healthy commission, but we should provide them with the best sales material possible.

If you are an ad salesperson interested in working on an innovative project, let me know. If you want to contribute some pro-bono time to help us create the material, your karma will increase 13.6 points!

Up next is a business plan that shows a path to sustainability. I've played with some numbers and believe it's wholly possible if Spot.Us can grow its sponsorship model. It's a bit of a supply-demand issue. If we get more sponsorships (supply), I believe we can support more pitches and increase the number of surveys taken (demand). If either side falls short, we fail. At the moment, our demand is much higher than the supply. If somehow tomorrow we got our ideal number of sponsorships, I am not sure if we could hit the demand numbers, but I do believe these numbers are possible by 2012 with the right messaging and if the sponsorships are coming in regularly. The supply-demand conundrum is a bit of a chicken-and-egg scenario. If one side doesn't come through, the circle of life won't continue, and Spot.Us lets one side down.

The business plan I intend to lay out will show what numbers we'd need to hit on both sides to reach a sustainable equilibrium, one that funds stories, provides sponsors with an appropriate amount of engagement and leaves Spot.Us as a strong forward-leaning non-profit.

The community-funded reporting handbook is being led by Jonathan Peters, under my supervision. The handbook will be informed by Spot.Us experiences, but my hope is that it becomes a resource for anyone, regardless of a relationship to Spot.Us.

In regards to the application programing interface, it's important to remember that Spot.Us is not a news site but a news platform. In that same vein, we don't have to be a destination site. If partnering sites can use our back-end to fundraise for projects on their sites, then more power to them. But first we have a few technical hurdles to overcome.

Luckily, PRX is a willing guinea pig I mean, partner. ;) If we are able to create a seamless A.P.I. that integrates into a site, we can scale up the number of pitches (demand) Spot.Us has in its stables whenever we get a new sponsor. In some respects, this turns Spot.Us into a 21st-century advertising network in addition to inviting the public to support journalism.

So what now?

Obviously, we don't have a shortage of things to do. I remain encouraged both by the journalism community that supports our work and the public at large that has shown it supports quality reporting -- stories that need to be told, stories that can make a difference in the lives of individuals and the communities we live in.

Although that is exciting, I remain humbled and don't want to lose sight of what is at risk.

In the 1985 film "Brewster's Millions," Richard Pryor's character spends millions of dollars designing a room he could "die in." The designer goes through various iterations, each time getting closer and closer to the goal but never hitting the nail on the head. Eventually, the designer gets it right. This happens just as we find out the main character is broke, and an army of movers come to collect all the furnishings.

Aside from being one of my favorite comedians, Pryor, with the tip of his hat, touches on one of my biggest fears with Spot.Us. This new redesign leaves the site looking awesome. All the pieces are on the table, and the puzzle is coming together and beginning to show a beautiful image of a community-powered site. If Spot.Us isn't able to reach this dream, it would pain my heart, but I feel I could tip my hat in just the same way. Still, I feel we have a dragon by the tail and the tools in hand to bring it down.

Why I'm Sharing This

  1. Spot.Us as an experiment has always been about openness. As the journalism industry rants and raves about experimentation, I still don't see it happening, at least not at the level I think is possible. The more I can show what I'm doing -- the success, challenges, failures, and fears -- the more I hope others will follow, even if it's not "the industry" but rather lone and brave individuals. The water is fine, and I truly believe it is what we need.

  2. Somewhat selfishly, I think there are ways the Spot.Us community can help push us forward, especially with finding sponsors. Our current sales material is all here (it'll get better, promise), and we do offer a commission to anyone who lands a sponsor. I'm happy to give anyone the talking points.

  3. A similar plea is for any folks who want to dive into the numbers with me and come up with a long-term business plan and a proposal for funding. How I feel about the foundation world is a post in itself. Suffice it to say, it takes money to make money, and any funding we seek would have to abide by the old proverb of teaching people how to fish rather than giving them free meals. Again, we have a tangible revenue stream, but we need to shore up. As a non-profit, we can't get VC funding -- unless it's the kind the Texas Tribune gets), so we'd have to look to philanthropists.

I certainly can't predict what will happen. I never could. But that's what makes this an exciting ride and what I believe empowers the Spot.Us community. We've come this far only because you see value in our efforts. Together, we've funded meaningful stories in partnership with nearly 100 publications. I'm happy to say that I've seen many of them make a real impact in how our communities function.

I'm excited to tackle the future. I hope you'll be there with me


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