Newspaper execs: This is not a fire drill

Industry execs convene to discuss crisis.

Some suggestions offered to the attendees:

  • Act like an entrepreneur; stop thinking first about why a new approach won’t work.
  • Create a portfolio of initiatives; recognize that some will fail and kill those quickly.
  • Don’t wait for every data point before taking action. “Ready, fire, aim” should be the operating principle, Shein said.
  • Use downsizing as a tool when necessary to achieve a larger strategy, not simply as a cost-cutting goal.
  • Figure out how to leverage core competencies into new directions and new niches.
  • Be honest with employees, and get ideas from those on the front lines.
  • Don’t sit and cower and weep about your problems. Inspire.
  • Collaborate with outside entities that can bring expertise or resources.
  • Pay attention to, and leverage, the brand.

These would have had a lot more impact five years ago.