After eighty years of owning The Washington Post, the Graham family shocked the newspaper industry when they announced they were selling the paper to Jeff Bezos for $250 million. Whether or not the Amazon.com founder will be able to turn the paper around is a question for the future. However, there are a few lessons managers and other business owners can learn from Jeff Bezos's visit to the news organization.
Get to know the company: One of the first things Jeff Bezos did was meet with the management staff and journalists. This provided him with an opportunity to get to know the staff, learn how the company operates, and get a feel for the culture. In addition to seeing what changes need to be made to make the newspaper company conform to his vision for it, learning about the company's people and culture can help Jeff Bezos come up with ways to implement those changes without causing unadulterated panic throughout the organization. Whether you are a manager or new owner, taking a moment to get to know the place before deploying your big ideas can help you find ways to make the transition smoother.
Share your vision: Jeff Bezos is not shy about sharing his goals for the newspaper. During his visit, he shared that he would like to get the company back to its days as a successful bundle paper, when people would start their morning reading the paper while enjoying a cup of coffee. As expected, some people were quick to criticize Bezos's idea as being counterintuitive to the way people consume the news in the Internet era. While that may be the case, sharing the vision gives the company much needed direction during this confusing time. It's much easier to keep a ship sailing if everyone is rowing in the same direction.
Embrace traditions: Before his 4:30 p.m. meeting with The Post staff took place, Jeff Bezos struck a triangle to summon the editors. This was a ritual people at the paper had participated in for decades. Though a bit unusual in an age where people can be called to a meeting with a text message, this small tradition leant an air of familiarity to the momentous occasion. Rituals and traditions help keep people grounded, particularly when the world around them is changing quickly. Participating in company traditions can mitigate the stress caused by upheavals in the workplace and help remind employees of their shared experiences and goals.
Change is never easy, but Jeff Bezos appears to be doing what he can to make the transition easier. His journey to recreate The Washington Post is certainly one worth following if you're looking for lessons or inspiration on how to turn a struggling business around.
(Photo courtesy of naypong / freedigitalphotos.net)
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