The value proposition of new news businesses shouldn't be about saving journalism; rather, they need to focus on meeting consumers' needs and wants, and finding solutions, Mark Briggs, author of "Journalism 2.0" and "Journalism Next," told Missouri School of Journalism's David Cohn.
Entrepreneurs need "to focus on what the consumer needs - what pain are you solving - that's a real Silicon Valley kind of concept, and you see a lot of journalism start-ups that are really about trying to recreate the old jobs that journalists had. That's great, if it would work, but that's not the fantasy world we live in. We live in a world where businesses happen because consumers want something, and so you need to focus on what consumes want. What kind of solution can I bring that will solve this pain?" explained Briggs, who is also working on an upcoming book about entrepreneurial journalism.
Hybrid business models have to begin with a focus on what the business is really about, he added.
"In Silicon Valley, failure is ok; experimentation and risk is great," he pointed out. Those qualities weren't encouraged in journalism in the past, but they are the qualities that need to be embraced today, he said.
For the full video, visit Cohn's blog at the Donald W. Reynolds Journalism Institute.