As a long time student of disruptive innovation, I think mission/vision statements, core values and company culture all play a key role in the transformation process.
All of the big disruptors are passionate about their mission, values and company culture. Startup companies embrace these ideals as well. All of the employees drink the Kool-aid not because they have to, but because they truly believe in the mission of the company. And there are signs posted everywhere to reinforce these values.
I have a lot of favorites over the years:
- Be Authentic and Be Unboring - both from Yelp. The Be Unboring sign hanging on their wall further explains the value: "Never accept 'standard' as okay, reinvent the standard...be remarkable."
- Move Fast and Break Things or What Would You Do If You Weren't Afraid? - both from Facebook (two of their five core values). Executives tell us that they constantly reference these values in company meetings and when making decisions. I particularly love these and wish media companies would create a culture that rewarded innovative ideas - even those that fail.
- Yext posts their 10 core values on their walls: Be Proactive, Let Your Personality Shine, Hold Yourself Accountable, Keep a Level Head, Ask Questions, Be Passionate, Be An Active Listener, Share the Wealth, Embrace Change and Make Someone's Day. How refreshing!
- At LinkedIn, we learned that their vision is to: Create Economic Opportunity for Every Professional in the World. Disruptors think big when it comes to their vision/mission statements and are often out to change the world. In our private meeting with their co-founder Allen Blue, he talked a lot about their vision. And he couldn't have been more humble (another hallmark of disruptive leaders!).
We are starting to see more and more local media companies embrace these concepts as they begin to dramatically change their culture. And we also know of plenty that have not.
I had the pleasure of meeting Mike Hulvey, COO, Neuhoff Media this week at their group of radio stations in Bloomington, IL. I had not met Mike before and I didn't know a lot about Neuhoff. The first thing I noticed upon entering was the welcoming and colorful wall with the words: Neuhoff - Media Made Locally. Beyond the front desk, there was a pillar with four words - one on each side: Innovation, Grit, Community and Excellence.
Our meeting started with a tour. Mike covered the company's core values in the opening minute and all I could do was smile. He went on to explain that Innovation means to think differently. Grit means stick with it/don't give up. Community means give back. Excellence means be exceptional.
As LMA board member Matt Coen (president and co-founder of Second Street) and I met with Mike, he referenced the company's core values multiple times. Honestly it was one of the few times that I visited with a traditional local media company and saw that commitment to culture and vision. Especially from a smaller company. The Bloomington stations are a new acquisition for Neuhoff. They purchased them two months ago. They didn't wait to instill the Neuhoff culture/values - they made that a priority from the start. I bet the employees love it.
We conducted a webinar last week entitled: "Changing Culture - Beyond Ping-Pong Tables." Big Fish Works CEO Mark Poss updated attendees on his progress to become a more innovative company. His company values were on the wall behind his chair as he talked on the webinar. He said the values are more important than ping-pong tables or free food. Employees want transparency, openness, clear goals and good communication.
Changing the culture at a traditional media company is not easy. Creating core values is a terrific start. Get employees involved in the process. Make it fun and post them everywhere. Make sure you have a mission/vision statement that is a source of pride. This exercise doesn't cost a lot of money but the ROI is huge. It's a must-do for any local media company that wants to truly transform their business.
After attending multiple Innovation Missions, I talked to the LMA board about the need for us to change our mission statement. Truth is, the old one was long and no one could remember every word. It was good on paper but that doesn't work. We spent a lot of time last January working on the right vision statement for LMA. In the end, the board and staff enthusiastically endorsed: "We are intensely focused on helping local media companies discover new and sustainable business models."
There is not a day that goes by that I don't say those words. We talk about it on staff calls and ask ourselves if proposed new projects fit in with our mission or not. If they don't, we won't pursue them. Moreover, it is a great source of pride for our team. We are deeply passionate about our mission at LMA and wake up every day thinking about how to help our industry evolve. Don't you want your employees doing the same for your company?
Thanks to Mike Hulvey for the inspiration this week. I'll end with a screen shot from the Neuhoff website that explains their motto - Media Made Locally. It's pretty cool. Double down on local for sure!