I’m on day five of News Entrepreneur Boot Camp at the Knight Digital Media Center (at the Univ. of Southern California) and I. AM. EXHAUSTED. After classes from 8 a.m. to 7 p.m. they send us to the hotel with homework! These people were not kidding about whipping us into shape.
The assignments are geared at preparing us for a 5-minute presentation we are each giving to four potential funders Thursday morning. The funders includes a venture capitalist, two bankers, and an “angel.” Tonight I have to turn in my presentation, which is not ready to share, unfortunately.
But here’s what I’ve learned while preparing:
- Invest in your readers by showing you read them (their comments) as much as they read you.
- Create rules of engagement for your site to encourage the type of interaction you want to see.
- Community engagement can create passionate content.
- Showing an understanding of social networking is crucial to raising money today.
- Use social networking to be everywhere and spend nothing.
- For marketing and promotions, don’t do anything you cannot measure.
- Mine data. Ask yourself what is the data in my field? How can I present it?
- Think of competitors as potential collaborators.
- The product is never the challenge. It’s getting the customer to write the check.