He took a small-town newspaper and turned it into a billion dollar operation, gaining control of the information flow to nearly half the world in the process. He is loved by some, hated by many and even feared, but the power that Rupert Murdoch has in this world is undeniable. By thinking beyond national boundaries and embracing the opportunities presented in new technologies, Murdoch has created the first truly global media empire.
Murdoch’s success was never a sure thing. He was considered a lazy alcoholic with a penchant for nothing but partying. How did he turn his reputation around and become one of the most well known, albeit controversial media moguls in the world today?
“For better or for worse, our company (The News Corporation Ltd.) is a reflection of my thinking, my character, my values. News… communicating news and ideas, I guess.. is my passion. And giving people alternatives so that they have two papers to read and alternative television channels.
In motivating people, you’ve got to engage their minds and their hearts. I motivate people, I hope, by example – and perhaps by excitement, by having productive ideas to make others feel involved.
I try to keep in touch with the details… I also look at the product daily. That doesn’t mean you interfere, but it’s important occasionally to show the ability to be involved. It shows you understand what’s happening.
I’m a catalyst for change … You can’t be an outsider and be successful over 30 years without leaving a certain amount of scar tissue around the place. The world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow.
There is so much media now with the Internet and people, and so easy and so cheap to start a newspaper or start a magazine, there’s just millions of voices and people want to be heard. You’ve got to look for a gap, where competitors in a market have grown lazy and lost contact with the readers or the viewers.
We have no intention of failing. The only question is how great a success we’ll have. You can’t build a strong corporation with a lot of committees and a board that has to be consulted every turn. You have to be able to make decisions on your own. The buck stops with the guy who signs the checks.”
Matthew Toren is an Award Winning Author, Serial Entrepreneur, and Investor. He Co-Founded YoungEntrepreneur.com along with his brother Adam. Matthew is co-author of the newly released book:Small Business, Big Vision: “Lessons on How to Dominate Your Market from Self-Made Entrepreneurs Who Did it Right” and also co-author of Kidpreneurs.
