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You do something well – do it better

World News Publishing Focus

World News Publishing Focus
Your Guide to the Changing Media Landscape

You do something well – do it better

He says recently published figures from the IMF forecast that bank debt is going to take several years to work through, and it will be a few years before consumer confidence is restored.

However, Woodfield says, if you look at the forecasts for five years out (2016), the situation improves a great deal, which, he says, shows that world economy faces a cyclical crisis rather than a structural one. The most hopeful view is that world growth will return to the 5-percent level of before the 2008 crisis, Woodfield says.

He notes that companies can’t plan their businesses based on doomsday scenarios.

So, how to respond? We business people are hard-wired optimists, he says.

Giving the example of his own company, Woodfield says MNI’s business for 25 years has been selling proprietary content, in their case financial news and analysis. “Our target market is bond and currency markets. We deliver online in real time. A key issue for us is distribution control – it's critical.”

MNI has developed MNI Connect, which he says is based on the following four key points:
– Know your USP (unique selling proposition), and focus on it
– Leverage your USP
– Find a way to make it pay
– Look at other industries

Woodfield says MNI has moved into the events business, where the company brings together news makers and readers. “It’s a premium product, and I think it’s fair to say that up-market products are more recession proof.” In the two years since the project was launched, there hasn’t been a single cancellation, he adds.

He recommends that companies keep the following ideas in mind:
– Have a broad horizon
– Try to pick best practices
– You’re in business because you do something well – do it better.

Wnc finance kevin_woodfield
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Author

Brian Veseling's picture

Brian Veseling

Date

2011-10-14 12:17

Author information

The 71st World News Media Congress, the 26th World Editors Forum and the 3rd Women in News Summit took place from 1 - 3 June 2019 in Glasgow, Scotland.

In this blog, WAN-IFRA provides previews, interviews, summaries of the presentations and other useful information about the Congress.

Participants were also very active on Twitter throughout the event under the hashtag #wnmc19.

In 2011 the newspaper world gathered in Vienna, Austria for IFRA Expo 2011, 63rd World Newspaper Congress and 18th World Editors Forum.

This is the event's live blog.


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