28 August 2018 0 Comments

Entrepreneurial journalism: why Journalist should care?

Author: yinkaolaito

Yinka Olaito is happy,excited and passionate Communications & Media specialist, Trainer and speaker. Yinka Olaito helps Profits and Non-profits with effective communication and positioning for premium service delivery and returns. Yinka Olaito also has special interest in Development Communication and has consulted for noted UN Agencies. Yinka Olaito is the CCO of Michael Sage Consulting(Communication/digital media), African Child Education Right Initiatives(NGO) and Content Director, Africa Development Talk( online Platform for discussion on Policy, Governance, development across Africa) and Africa Foundation for Young Media Professionals


Entrepreneurial Journalism is no longer new. Journalism profession like every other is witnessing quite a lot of disruption. With the dwindling fortune of many media houses across the globe, there is no job security anymore. The drumbeat is sounding clear and loud. In the space of a year and a half, hundreds of media professionals??? had been relieved of their jobs.

With all the statistics staring us at face, there is a clear sign for journalists to adequately prepare for the disruptions the profession is witnessing. Despite the signs of worry, there is a common solution being promoted across the globe. To help many journalists remain afloat irrespective, entrepreneurial journalism has become a key component to embrace as technology continues to supply great and effective online communication tools which give energy to news production.

What is sure though is that journalism practice can never die. The trade will continue to expand. It is just that the changes will send some professionals out of business while those who embrace the change and adapt will keep flourishing.

To flow with the current situation in the industry here are important issues:

What does entrepreneurial Journalism means: Adequately captured by a writer, ?entrepreneurial journalism describes a field of media where journalism is the underlying discipline upon which to create content-based businesses and services that can make money?. The field is open and easy but it will take the strong will and exposure to learning to gain an edge. Anyone trying to follow this part must be ready to think of content creation from a different perspective.

What are the changes required? Content within entrepreneurial journalism route is first seen from a business term and not just from a public service good. Yes public service good dimension must not be completely forgotten in our endeavor as news producers. But great success will be achieved if this does not constitute 90% of the goal.

Continuous mastering of the new skills: There is a continuous need for journalists who will play in this new field to master the new business model required. More than ever before, journalism in this genre will demand players take a keen look at the way news consumers now want to consume information and creatively manage the change process.

Producing great content is not enough: The major question in the minds of skeptics with regards to entrepreneurial journalism is what are the chances of success of this approach? Warner and Iasttrebner who researched the field did say failure rate can be high if the focus is just to produce good journalism content. No one says great content should be undermined though.? Beyond consideration for the above foundation, a good strategy must be put in place for the development of a compelling journalism product and services which can appeal to product consumers.

Depending on advertising alone is not sustainable: Doing it well will require great knowledge of how to diversify income as research had proven over dependency on advertising alone will spell a big doom. Knowledge of diversifying income are important. Income sources can still come from consulting, organizing workshops, symposium, training corporate journalists or media professionals like corporate content writers and media relations staff. These income sources can then be balanced with adverts from your readers, platform members and well packaged or industry specific research book publication.

Not an easy route: It must be emphasized; entrepreneurial journalism is not an easy way out for lazy journalists. It requires investment of time and other resources in the journalism products you are pushing with lot of accuracy and fact checking your news item otherwise the project will not be sustainable. Media platform does not thrive on lies and half done meals laced with lies and inaccurate facts.

# The article was first publish in THE CABLE, you may want to read the full text here

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