Lesley Weidenbener: The value of taking risks — and trusting others

People in business and the community often ask me how much IBJ Media owner and Publisher Nate Feltman weighs in on what we cover and how we cover it. My answer — not much at all — typically surprises them.

Many people looking at a news organization from the outside assume the owner dictates what appears online and in print. In fact, Nate rarely knows what’s going to be on the front page (or inside) of IBJ or The Indiana Lawyer until the issue arrives in the office or at his home.

Instead, Nate respects the independence of the newsroom. He has high standards for what we do, challenges us to meet them, and lets us know when we succeed and where we have room to improve. When he and I talk about coverage, we focus on the larger questions about how best to serve our readers — not specific stories, companies, people or organizations.

If you need proof, just know that Nate won’t even know this column about him is in the paper until about the time you do.

I’m focused on Nate because the Indiana Chamber of Commerce last week honored him with its Entrepreneur of the Year Award for, among other things, his work leading and expanding IBJ Media.

I was thrilled to attend the chamber’s 37th Annual Awards Dinner on Nov. 5 and talk with business leaders who were excited for Nate because they consider IBJ, The Indiana Lawyer and Inside INdiana Business such important parts of our community.

Nate gave a short acceptance speech in which he spoke very little about his own accomplishments and instead shared bits of wisdom he’d gained throughout his career from others. I thought it would be worth sharing a few takeaways from that talk with you.

• The greatest risk is not taking one at all.

“Lawyers are trained to identify and mitigate risk,” Nate said, referencing his early career. “Entrepreneurs, on the other hand, understand that sometimes the greatest risk is not taking one at all.”

His point is a great one — and it doesn’t just apply to people starting new businesses. It’s essential for people trying to sustain existing ones. That’s especially true in media, where we are operating in a rapidly changing environment.

The ways audiences consume news, the ways advertisers reach customers and the ways publishers generate revenue have all changed dramatically. It’s important to have an owner who understands that change is necessary — and sometimes messy.

• The best mentors help us see possibilities we don’t see in ourselves.

Nate talked about the people who gave him leadership and entrepreneurial opportunities: former Gov. Mitch Daniels, entrepreneur Mickey Maurer and Nate’s late business partner David Hartley, among others.

“When I look back on my career, I realize how incredibly blessed I’ve been to have the right people walk into my life at the right time,” he said.

Those people, he added, gave him opportunities that challenged him and helped him discover an entrepreneurial side he might not otherwise have found.

The truth is that we tend to celebrate entrepreneurs as self-made individuals, but their success is often shaped by people who recognize something in them before they recognize it in themselves.

• Entrepreneurial thinking isn’t limited to entrepreneurs.

Nate described entrepreneurs as curious, adventurous, willing to try new things and unafraid to enter unfamiliar territory.

But those qualities aren’t reserved for people who own businesses. They’re valuable throughout an organization — and in government, education and the community.

I know Nate believes those qualities are essential to growing a business and a community, whether you’re in the top spot or not. And I’ve seen how his willingness to give others room to make decisions, try new things and sometimes make mistakes helps foster those qualities at IBJ Media.

That’s one of the many reasons he’s great to work for.

Congratulations, Nate, on a well-deserved honor.•

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Weidenbener is editor and assistant publisher of IBJ and The Indiana Lawyer. Reach her at [email protected].