City University of New York Graduate School of Journalism 

Entrepreneurial Journalism

Jeff Jarvis

A description of my class:

Students create business plans for sustainable journalistic

enterprises. I define journalism essays broadly. I define sustainable as

profitable like antiques collectibles (if, once they graduate, they choose to start a

not-for-profit, that's up to them, but for the purpose of the class,

I've found nonprofit to be a crutch; once they understand the dynamics

of business conflict free diamonds, the students become enthusiastic about profitability).

They are to complete these elements of the plan (which also forms the

outline of instruction and class sessions)  Mis sold mortgage protection:

* Elevator pitch. The best damned lede they've ever written. In my

first of three classes, thought I was spending too much effort on

getting them to work on their pitches but the students agreed they

didn't do enough. Now I work with rise recliner chairs a great deal to make sure they

have a clear expression of their essay businesses -- and that they have a

clear idea for a business to express.

* Needs statement. Why does the world need this thing?

* Market research and analysis. They report and talk to customers to

find out what they need. And they have to decide who their customers

are. The better their reporting, the stronger their businesses. I've

had many students change or even abandon their plans after learning

from the market for payday loans.

* Competitive analysis. They often say they don't have any but then

discover they do. I tell them they need to have

green baby shower analogs to improve the ford ka parts

upon or even work with. This is an area that can always use more work.

* Product plan. What is it?

* Revenue plan. For this, I spend a good deal of time filling their

brains with advertising initials: CPM, CPA, CPV and CPC.... This is usually the

most eye-opening session -- most students have had no exposure to this

side of the business -- but they end up enjoying it.  CPM model site

watch anime online, CPA model site who will i marry and lastly

Cost Per Lead model site is past life reading.

* Distribution/marketing plan. How will people discover it. These

days, this is likely a viral strategy, though we had to push students

past just saying that they'd be on Facebook, sex cams and Twitter.

* Operations plan. How will it operate? What will that cost?

* Launch plan. If this is an online business -- and it doesn't have to

be -- it can start in phases; indeed, it should. What are those phases

and milestones - affordable health insurance?

* Ask. What are they asking the jury for and what will that fund.

At the end of the term, the students present to a jury made up of

entrepreneurs, journalists, investors, publishers, technologists. It

is up to the jury -- not me -- which if any of the businesses get

awards. Here's a link to my blog post about this year's jurying:

http://www.buzzmachine.com/2009/12/11/the-entrepreneurial-journalism-class-report/

I had a grant from the McCormick Foundation to give seed money to the

best of the students' businesses. We now have seven businesses in

development like ford ka parts. In at least one case, a student is implementing her idea

in her newspaper job. We learned after the first year that we need to

provide incubation services for these businesses and mentoring from

the jurors; we can always use more of both. I want to get legal and

administrative services added. We let them use our space and often our

equipment.

This year, I had a colleague, Dan Shanoff, helping me in the class and

another colleague, Jeremy Caplan, often pitched in. Secret weapon:

They both have MBAs and their perspective was very valuable for the

students. I have other guests in the class -- somewhat mirroring the

jury -- to bring more experience and perspective. The students

describe their businesses to the guests to get feedback. They also

spend a good deal of time rehearsing and fine-tuning their

presentations (and thus, their businesses).

I have found that the students are, all in all, quite generous with

advice to their classmates, even if they end up in essay writing competition. In

most cases, the students present individually, though we've had a few

cases in which students with similar ideas decided to merge. I'll also

note that we do not webcast the jurying or the classes because the

students are often protective of their proprietary ideas such as Data Recovery Los Angeles.

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