"About a year or so later, we talked about these steps in the maturity model, these stages that our organizations go through on their way from when they're created up until they're on somewhat firm footing. And I think what I'm most excited about, after two years of these deep dives into these emerging businesses, we finally got enough data to start talking publicly about that journey in more concrete terms."
"In other words, if a business doesn't do something along the way, that thing still has to get done, whether they do it early or late. And in the process of putting something off, it'll cost them time, it'll cost them revenue in the doing of that thing, whether that's the right kind of incorporation, securing the right kind of insurance, planning for growth, better tracking audience,"
News organizations with staff focused on revenue generation had median revenue 700% higher than outlets without such staff. Local independent online news sustainability requires treating local news as a small-business challenge, prioritizing business operations, and planning strategically. Many organizations lack focus on business operations, and moving from developing to stable typically requires securing at least three distinct revenue streams. A maturity model maps stages from creation to stable footing and identifies necessary steps such as proper incorporation, insurance, growth planning, and audience tracking. Skipping operational steps delays progress and reduces revenue and time efficiency.
Read at Poynter
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