In sports we talk about a player looking to go right and then going left and call that a "fake-out." We’re seeing the business equivalent today at Tribune company. In their own paper the company featured an article on a new "hyperlocal" web site being rolled out that is supposed to indicate a new approach for Tribune Company (see article here). This a a fake-out.
On the face of it, the new web sites may look like White Space and therefore a good thing. But the reality is that Tribune is incredibly Locked-in to its outdated Success Formula – and as I’ve blogged they are loading up on debt which will insure they remain Locked-in. This venture lacks 3 critical criteria for it to be considered White Space:
1 – the company has not Disrupted any of its old Lock-ins. They have not admitted that the Success Formula is outdated, and they have not attacked any of the Lock-ins keeping the company doing what it has always done. Without an attack on the Lock-in this kind of venture will soon run into all kinds of obstacles (from editorial to ad sales) and find itself without nurturing or any chance of success.
2 – the company has not committed any significant resources to this effort. They admitted it is only a small test. They have no promises to see it through to any kind of success, and have said they have concerns about how it will even work.
3 – this project is not something in the front of the Rapids which they can get behind big and hope to change the company. Cars.com or CareerBuilder.com are examples of things in the Rapids they could move into White Space and use to change Tribune company’s Success Formula. This project is so small and market-early that it is in the Wellspring and unable to make any real impact on results or the operations of Tribune.
It’s not just claiming you have a White Space project that makes it true. You first have to Disrupt your Lock-ins to give it a chance for success, you have to commit resources to see the project through, and you have to pick projects that are big enough to push your business back into the Rapids.