Dave Guilford of Automotive News, a Crain publication, writes about how company executives have been holding town hall meetings this spring across its publications where they have shared company financials and strategies.
Guilford writes, “‘You think in terms of obviously a year or two on the current business plan, but we’re looking at a decade: What is this thing going to look like? Where do we want to be?’ KC Crain said. ‘So [Chris] and I get to have some great conversations around positioning us for that future plan.’
“The company has its own operating style, one that kept it from getting overextended when media acquisitions were in vogue: It is debt free. Leveraging up might have allowed it to take advantage of some opportunities, KC Crain says, but staying debt free lets the company ride out economic downturns.
“It also fosters a focus on core principles, such as evaluating new projects first by their value to their audience. As a publisher of business media, KC Crain said, ‘we really pride ourselves on helping folks to do their job better.’
“‘When you talk about a new product, a new launch, that’s the conversation we have,’ he said. ‘The second one is about the P&L, but the first one is about ‘Who are you serving? Why do they need this?’ and ‘How are you going to do a better job than somebody who’s already there?’ Or: ‘What gap are you filling for content that these people need?’”
Read more here.
