Programming Advice From a Billionaire

Jeff McHugh • March 7, 2022

What if broadcasters treated programming like an  investment  instead of an expense?

Billionaire and financial guru Warren Buffett would say that an investment is  money spent to make money  and that an expense is  money lost . Some investment firms involved with radio today seem confused about that difference.

I discovered some Warren Buffett wisdom on the blog of  Chris Hladczuk of Goldman Sachs, who was so interested in Buffett that he read  50 years  of Berkshire Hathaway investor letters and pulled a list of  memorable quotes.

Let’s try reading a few Buffett quotes as programming philosophy and consider what would happen if we acted on it as  content  investment advice.

  • “If we did more business operating, less would be accomplished. Instead, get out of the way.”  Hire only the best superstars and eliminate top-down managers who are more interested in commanding than collaborating.  
  • “Good jockeys will do well on good horses, but not on broken-down nags.”  A bad strategy cannot be saved by great talent or excellent programmers. Do market research, plan your station with precision, and execute with passion.
  • “It has struck me that all men’s misfortunes spring from the single cause that they are unable to stay quietly in one room.”  Sometimes leaving things alone is better than making knee-jerk format flips or staff changes made for change’s sake.
  • “A horse that can count to ten is a remarkable horse – not a remarkable mathematician.”  There are atrocious broadcasters that  seem  remarkable compared to other bad AM/FM players nearby. To be certain of where you  really  stand, compare your content today against remarkable modern-day competitors like Spotify, Sirius XM, and podcasts.
  • “If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will exit thinking more clearly yourself.”  Teaching cutting-edge proven strategies to your team helps you learn them yourself. Talent development keeps both coaches and players current and sharp.

    Photo by Mackenzie Marco on Unsplash

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