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Becoming an entrepreneurial newsagent

M
markfletcher

The document discusses the future of newsagencies and lessons that can be learned from businesses that have adapted successfully to change. It notes that newsagencies will need to embrace flexibility, entrepreneurship, and actively pursuing new categories and revenue streams. Newsagents who are growing their businesses look outside their industry for ideas, hire smart people, and take responsibility for their own business plans rather than relying only on suppliers. The future belongs to newsagents who act like entrepreneurs and adapt to changes in technology and consumer behavior.

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Building our newsagency of the future Whatever that means
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Lessons from the past Music shops Fish and Chip shops Milk Bars / Convenience Bookshops Stationery shops
Building our newsagency of the future Becoming an entrepreneurial newsagent.
Opportunities
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The professor "The Roman Empire that was mass media is breaking up, and we are entering an almost-feudal period where there will be many more centers of power and influence," "It's a kind of disaggregation of the molecular structure of the media." Orville Schell dean of the University of California at Berkeley's journalism school. Business Week, Jan. 17, 2005 Orville Schell (photo Jane Scherr)
The publisher stirs "Within our lifetimes, the distribution of news and information is going to shift to broadband," Sulzberger says. "We must enter the broadband world having mastered the three key skill sets -- print, Internet, and video -- because that's what's going to ensure the future of this news organization in the years ahead." Business Week, Jan. 17, 2005
The epiphany as an industry, many of us have been remarkably, unaccountably complacent. Certainly, I didnt do as much as I should have after all the excitement of the late 1990s. I suspect many of you in this room did the same, quietly hoping that this thing called the digital revolution would just limp along. ASNE, April 13, 2005
Seeing the future So, media becomes like fast food people will consume it on the go, watching news, sport油 and film clips as they travel to and from work on油 mobiles or handheld wireless devices like Sonys PSP, or others already in test by our Satellite companies.. Worshipful Company of Stationers And Newspaper Makers, March 2006
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Not in my lifetime
News
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Magazines
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Social media
Old media versus social media
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Greeting cards
123 Greetings, FREE 123Greetings.com 20,000 free ecards 3,000 everyday, special occasions and events See what cards other people in their network have sent Review the highest ranked cards by MySpace users No limit on cards sent
Other categories
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Yes, print is a burden. Its expensive to produce for it. Its expensive to manufacture. Its expensive to deliver. It limits your space. It limits your timing. Its stale when its fresh. It comes with no ability to click for more. It has no search. It cant be forwarded. It has no archive. It kills trees. It uses energy. And you really should recycle it. Wow, when you think about it, print sucks. Jeff Jarvis, BuzzMachine
Yes, in our lifetime
Where are newsagencies in all this?
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Sophie Randall
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What do we stand for?
We stand for Convenience: speed, local Trust: reliability, brands Service: knowledgeable Community: the bankable local connection Where are those USPs in our businesses?
Not all newsagencies are the same. Not all newsagents are the same.
Not all newsagencies are the same. Not all newsagents are the same.
What is our Salads Plus?
What is our newsagency of the future? How do we find it?
I dont know!
Come and break some rules Flexibility on newspaper displays Real control over magazine supply Reward based bonuses for year on year success Books at book margins
Hard decisions about our future Network wide: Forget about territories Resolve the exit and entry conflict Drop the newsagency shingle Improve supply chain efficiency for us Store level: Allocate space based on financial return Quit declining products before they hurt Adding categories which fit your demographic Get serious about business
What we need from existing suppliers Magazines: Pay on scan based sales Greeting cards: Agreed pocket based KPIs Stationery: Buying 20%+ better than today Newspapers: Reward based on success Home delivery: Open pricing of our services Retail: Put a price on our real-estate Vouchers: Transparent and competitive pricing Our network is a valuable asset
We need to embrace change to navigate to the future
Ink
Calendars
Books
Confectionery
Art
Gifts
Respecting long term partners
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FY07/08 benchmark project We analysed more than 100 newsagencies in depth The difference between those growing and those not is greater than ever.
Benchmark: growth areas Gifts: especially those associated with card giving occasions Social stationery: travel journals, writing sets, invitation papers Services: printing, Internet access, photo processing more
Benchmark: growth areas Art supplies: Location exclusivity, hero brands, habit based Coffee: High margin, improves shopper comfort, habit based Ink and Toner: Realigns value proposition, hero brands, habit based
Those who are growing Embrace disruption and understand transition Understand what we stand for Actively, aggressively chase change Hire smart people Take responsibility for their own business plan Build shops that are flexible
They are entrepreneurial Look outside the channel Visit competitors and other retailers Visit non newsagent trade shows Hire from outside the channel Stop relying on suppliers for your business plan Engage a business angel Stop complaining Start acting, on your business!
The newsagents of the future will be entrepreneurial Surfers, riding the wave. Having a go
What do we stand for?
The epiphany as an industry, many of us have been remarkably, unaccountably complacent. Certainly, I didnt do as much as I should have after all the excitement of the late 1990s. I suspect many of you in this room did the same, quietly hoping that this thing called the digital revolution would just limp along. ASNE, April 13, 2005
Our future is up to us We are not victims. We are not process workers. We are newsagents, entrepreneurs, willing and happy entrepreneurs.
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More Related Content

Becoming an entrepreneurial newsagent

  • 1. Building our newsagency of the future Whatever that means
  • 2. 油
  • 3. 油
  • 4. 油
  • 5. 油
  • 6. 油
  • 7. Lessons from the past Music shops Fish and Chip shops Milk Bars / Convenience Bookshops Stationery shops
  • 8. Building our newsagency of the future Becoming an entrepreneurial newsagent.
  • 10. 油
  • 11. The professor "The Roman Empire that was mass media is breaking up, and we are entering an almost-feudal period where there will be many more centers of power and influence," "It's a kind of disaggregation of the molecular structure of the media." Orville Schell dean of the University of California at Berkeley's journalism school. Business Week, Jan. 17, 2005 Orville Schell (photo Jane Scherr)
  • 12. The publisher stirs "Within our lifetimes, the distribution of news and information is going to shift to broadband," Sulzberger says. "We must enter the broadband world having mastered the three key skill sets -- print, Internet, and video -- because that's what's going to ensure the future of this news organization in the years ahead." Business Week, Jan. 17, 2005
  • 13. The epiphany as an industry, many of us have been remarkably, unaccountably complacent. Certainly, I didnt do as much as I should have after all the excitement of the late 1990s. I suspect many of you in this room did the same, quietly hoping that this thing called the digital revolution would just limp along. ASNE, April 13, 2005
  • 14. Seeing the future So, media becomes like fast food people will consume it on the go, watching news, sport油 and film clips as they travel to and from work on油 mobiles or handheld wireless devices like Sonys PSP, or others already in test by our Satellite companies.. Worshipful Company of Stationers And Newspaper Makers, March 2006
  • 15. 油
  • 16. 油
  • 17. 油
  • 18. 油
  • 19. Not in my lifetime
  • 20. News
  • 21. 油
  • 22. 油
  • 23. 油
  • 24. 油
  • 25. 油
  • 26. 油
  • 27. 油
  • 28. 油
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  • 35. 油
  • 36. 油
  • 37. 油
  • 38. 油
  • 39. 油
  • 40. 油
  • 41. 油
  • 43. Old media versus social media
  • 44. 油
  • 46. 123 Greetings, FREE 123Greetings.com 20,000 free ecards 3,000 everyday, special occasions and events See what cards other people in their network have sent Review the highest ranked cards by MySpace users No limit on cards sent
  • 48. 油
  • 49. Yes, print is a burden. Its expensive to produce for it. Its expensive to manufacture. Its expensive to deliver. It limits your space. It limits your timing. Its stale when its fresh. It comes with no ability to click for more. It has no search. It cant be forwarded. It has no archive. It kills trees. It uses energy. And you really should recycle it. Wow, when you think about it, print sucks. Jeff Jarvis, BuzzMachine
  • 50. Yes, in our lifetime
  • 51. Where are newsagencies in all this?
  • 52. 油
  • 53. 油
  • 54. 油
  • 55. 油
  • 56. 油
  • 58. 油
  • 59. 油
  • 60. What do we stand for?
  • 61. We stand for Convenience: speed, local Trust: reliability, brands Service: knowledgeable Community: the bankable local connection Where are those USPs in our businesses?
  • 62. Not all newsagencies are the same. Not all newsagents are the same.
  • 63. Not all newsagencies are the same. Not all newsagents are the same.
  • 64. What is our Salads Plus?
  • 65. What is our newsagency of the future? How do we find it?
  • 67. Come and break some rules Flexibility on newspaper displays Real control over magazine supply Reward based bonuses for year on year success Books at book margins
  • 68. Hard decisions about our future Network wide: Forget about territories Resolve the exit and entry conflict Drop the newsagency shingle Improve supply chain efficiency for us Store level: Allocate space based on financial return Quit declining products before they hurt Adding categories which fit your demographic Get serious about business
  • 69. What we need from existing suppliers Magazines: Pay on scan based sales Greeting cards: Agreed pocket based KPIs Stationery: Buying 20%+ better than today Newspapers: Reward based on success Home delivery: Open pricing of our services Retail: Put a price on our real-estate Vouchers: Transparent and competitive pricing Our network is a valuable asset
  • 70. We need to embrace change to navigate to the future
  • 71. Ink
  • 73. Books
  • 75. Art
  • 76. Gifts
  • 78. 油
  • 79. FY07/08 benchmark project We analysed more than 100 newsagencies in depth The difference between those growing and those not is greater than ever.
  • 80. Benchmark: growth areas Gifts: especially those associated with card giving occasions Social stationery: travel journals, writing sets, invitation papers Services: printing, Internet access, photo processing more
  • 81. Benchmark: growth areas Art supplies: Location exclusivity, hero brands, habit based Coffee: High margin, improves shopper comfort, habit based Ink and Toner: Realigns value proposition, hero brands, habit based
  • 82. Those who are growing Embrace disruption and understand transition Understand what we stand for Actively, aggressively chase change Hire smart people Take responsibility for their own business plan Build shops that are flexible
  • 83. They are entrepreneurial Look outside the channel Visit competitors and other retailers Visit non newsagent trade shows Hire from outside the channel Stop relying on suppliers for your business plan Engage a business angel Stop complaining Start acting, on your business!
  • 84. The newsagents of the future will be entrepreneurial Surfers, riding the wave. Having a go
  • 85. What do we stand for?
  • 86. The epiphany as an industry, many of us have been remarkably, unaccountably complacent. Certainly, I didnt do as much as I should have after all the excitement of the late 1990s. I suspect many of you in this room did the same, quietly hoping that this thing called the digital revolution would just limp along. ASNE, April 13, 2005
  • 87. Our future is up to us We are not victims. We are not process workers. We are newsagents, entrepreneurs, willing and happy entrepreneurs.
  • 88. 油
  • 89. 油