Forbes' Alex Konrad | Startups and the Media Pt 2 | Summary and Q&A

TL;DR

Founders should own their message while also building relationships with journalists for effective media coverage.

Key Insights

• 😑 Startups should own their message and have a voice, while also building relationships with journalists to effectively navigate press and PR.
• 💦 Media coverage is not a binary choice between working with the media or having your own content. Both can be valuable and complementary.
• 🏛️ Being upfront and honest with reporters is crucial in building trust and maintaining a positive relationship.
• 🎯 Newsletters can be a useful platform for startups to share their story and engage with their target audience.
• 🥺 Gradual relationship-building with journalists, offering valuable insights, and being consistent in communications can lead to beneficial media coverage.
• 💁 Startups should be cautious with sharing sensitive information and balance transparency with maintaining control over their own narrative.
• 🪡 Not every action or announcement needs to be newsworthy, and startups should be mindful of what is truly newsworthy before seeking media coverage.

Transcript

hi everyone welcome to gray matter the podcast from greylock where we share stories from today's most important company builders i'm heather mack head of editorial at greylock today's episode is the second half of our two-part conversation on working with the media our guest is alex conrad a senior editor at forbes who covers venture capital and st... Read More

Questions & Answers

Q: Should startups compete with journalism or should they have their own voice?

Alex Conrad believes that startups should have a voice and own their message, but not at the expense of competing with journalism. Startups can start their own publications or magazines, but they should be mindful of their audience and avoid vanity projects.

Q: How can startups build relationships with reporters?

Caitlin Durkosh suggests that startups should be upfront and honest with reporters. They should offer valuable insights, be a source of information, and build trust over time. Additionally, hiring a communications person with media relationships can be beneficial.

Q: What should startups do if they receive media inquiries about sensitive information?

Founders can exercise caution and be upfront about their comfort level in sharing certain information. It is important to balance transparency and control over what is shared while respecting the reporter's need for information.

Q: What is the role of newsletters in startup media coverage?

Newsletters can be a valuable outlet for startups to tell their story and reach specific audiences. Founders should consider newsletters that align with their target market and industry, and be open to participating in interviews or sharing insights.

Summary

In this podcast episode, Greylock marketing partner Elisa Schreiber and Greylock director of communications Caitlin Durkosh interview Alex Conrad, a senior editor at Forbes who covers venture capital and startups. They discuss the role of the media in telling a company's story, the importance of honesty and transparency when working with reporters, and the value of building relationships with the media.

Questions & Answers

Q: What is the role of the media in telling a company's story?

Alex Conrad recommends that startups have a voice and own their message to some extent, but it should not compete with journalism. While companies may start their own publications or magazines, it's important to consider who the target audience is and whether they truly want to read that content. Journalists bring a lack of financial relationship and strive to inform readers, ensuring that they don't share technology or make claims that they don't believe in, in order to maintain their reputation.

Q: Is it necessary for startups to work with the media?

Elisa Schreiber emphasizes that working with the media is not optional. It provides value in terms of building relationships with reporters and communicating with key audiences. Startups can also choose to go direct with certain announcements, but it's important to remember that blog posts or other owned content are not news articles. Journalists prefer to write about tech companies when it's not dependent on funding news, so there shouldn't be a binary mindset of choosing one over the other.

Q: How should startups approach building relationships with reporters?

Alex Conrad suggests that building relationships with reporters takes time and trust. Founders should focus on making journalists smarter by sharing insights about the industry or bigger companies in their space. Punching above their weight and offering valuable perspectives can help start the conversation and gradually build the relationship. Caitlin Durkosh adds that founders should be genuine, offering to be a source of information and providing valuable insights that may not necessarily lead to immediate coverage.

Q: How should founders handle media inquiries about sensitive topics?

Alex Conrad advises founders to be honest and consistent when they cannot share certain information. Reaching out to reporters with the intention of building a relationship shouldn't be a reason to disclose everything. It's important to understand what the reporter knows and decide whether it's something the founder feels comfortable discussing. Caitlin Durkosh suggests being upfront and honest about not having a comment or not being able to share information at that time.

Q: How should startups approach working with the press during uncertain or challenging times?

Elisa Schreiber emphasizes the importance of being flexible and open to working with reporters, even during difficult situations. Founders should communicate their goals and timelines upfront, but also be willing to adjust based on the interests and needs of reporters. It's important to remember that reporters are seeking information and can bring valuable perspectives, even if the founder isn't ready to share specific news or updates.

Q: How should founders manage expectations when working with the press?

Caitlin Durkosh highlights the misconception that founders can edit stories in advance or control the narrative. Once an interview is conducted and a reporter writes their story, founders will not see the final version until it's published. Managing expectations requires understanding the interview and engagement process, as well as being aware that reporters have their own sources and may write a story based on that information.

Q: What is the value of newsletters for founders to tell their story?

Alex Conrad mentions three types of newsletters: those associated with well-known publications, those from independent journalists or investors, and those from companies or firms. Each type serves a different purpose and audience. Newsletters can be valuable for founders to get exposure and reach target audiences, especially if they can get links to their full media coverage or be featured in newsletter roundups.

Q: What is the lasting piece of advice for founders working with the press?

Elisa Schreiber advises founders to be flexible, genuine, and respectful when working with reporters. Being upfront about goals and timelines, offering valuable insights, and understanding that reporters are human can go a long way in building relationships. Alex Conrad suggests that the relationship between journalists and founders is not inherently antagonistic, and most people in the ecosystem mean well. Founders should remember that journalists are busy and not everyone will find their startup exciting. It's important to focus on building trust and delivering valuable information.

Takeaways

Working with the media is crucial for startups, as it helps them communicate their stories and reach key audiences. Startups should focus on building relationships with reporters, being honest and transparent, and offering valuable insights. It's important to understand that media coverage is not always guaranteed and that founders should manage their expectations accordingly. Newsletters can also be a valuable tool for founders to tell their stories and reach target audiences. Overall, founders should approach working with the press in a genuine and flexible manner, recognizing that both journalists and founders are human and aiming to build trust-based relationships.

Summary & Key Takeaways

• Alex Conrad emphasizes the importance of startups owning their message and having a voice, while not competing with journalism.

• Elisa Schreiber suggests that working with media is not optional and encourages founders to build relationships with reporters for effective communication.

• Caitlin Durkosh advises founders on being honest and upfront with reporters, while also leveraging newsletters and engaging with media outlets.