media company mentality small business

Do You Have a Media Company Mentality?

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You’re a busy business owner, I get it. You want to focus on selling more of your products and services to more people….but you might not have the capital to pay for ads or hire influencers. Instead you can have a media company mentality, you can create and publish content.

The idea of having the media company mentality isn’t new, brands were doing this well before the days of social media and email marketing. As a matter of fact, Michelin published its first Michelin Guide in 1900. This free guide was created to provide valuable information to motorists….and sell more tires.

Having the  media company mentality allows you to own the narrative, tell the story in the way you want it told. This mindset shift challenges business owners to be more than just a seller of a product, you’re able to position yourself as a resource, an authority in your area of expertise.

In recent news several celebrities have made moves to adopt and implement the media company mentality on a higher level. Let’s examine three case studies, shall we?

media company mentality small businessKevin Hart has media mogul goals –  he recently launched his Laugh Out Loud Network online & his own comedy channel on SiriusXM.

Media Company Mentality Lesson: Part of the plan to be more than just a performer is owning his own media platform to position himself as a franchise that partners with studios instead of being hired by them.

In 2017 LL Cool J became the first rapper to be honored by the Kennedy Center in its celebration 40th annual national celebration of the arts, and will launch Rock the Bells radio channel in April 2018 on SiriusXM. The new channel will feature classic hip-hop content, music, interviews and in-depth retrospectives curated and presented by LL Cool J and other innovators in hip-hop.  LL said this about the channel: ” I’m passionate about restoring its legacy of respect”.

Media Company Mentality Lesson: When you become the media you can tell the story in the way you want it to be told, much like LL aims to “restore the legacy” of his industry. LL is also “curating and presenting” content on his platform instead of doing all of the creating himself.

Byron Allen recently purchased Weather Group, the parent company of Weather Channel for $300 million. “Snowstorms, rain, mudslides, our lives and our families’ safety depend on this info,” Allen said. “When a big storm happens, it’s the Super Bowl of weather. As many as 30 million people watch. The acquisition of The Weather Channel is strategic, as we begin our process of investing billions of dollars over the next five years to acquire some of the best media assets around the world.”

Media Company Mentality Lesson: Media is powerful. Attention is valuable. Successful people have a strategy. 

When you create the media-based platform you direct the reputation.

You shape the brand.

You become the resource.

It’s no longer enough to just sell, you should be operating like a media company, even on your level. You should be publishing content that shapes the story of your business in your industry.

You have to distinguish yourself from your competition.

Have a media company mentality.

 

moniek james

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