October 16, 2009
My mentor and her lessons, Part 2
Yesterday I introduced you to Miss Ardis Krainik. I thought I would share another lesson I learned from her and her fantastically successful reign at Lyric Opera of Chicago.
Yesterday's lesson was on the importance of selling when you are busy. Today's, the importance of building new audiences when you are busy.
You see, when I worked at Lyric, we were considered somewhere on the scale between fantastically and monumentally successful. We were an arts organization that ran in the black. I don't think most arts organizations even know what the opposite of red is, in a fiscal sense.
And yet, in the midst of this glory glut, Miss Krainik mounted what she called her "Toward the 21st Century" initiative, spending scads of money to commission a bevy of avant garde, in-your-face operas that her most stalwart-y of supporters were surely going to hate. Those supporters, the ones who bought every ticket and attended every event, loved the dusty old chestnuts like Madama Butterfly and Turandot.
But Miss Krainik knew that they were likely not the future. She knew that the aging opera crowd was, in fact, literally dying off. And even if they weren't, she knew she had to push her opera forward if it was going to succeed beyond the day.
At a time when laurel-resting was certainly an earned right, Miss Krainik pushed forward. Which I guess reinforces yesterday's lesson: When you are up, you actually have to work harder than you do if you are down. That way, you'll never really know how hard you'd have to work if you were down.
Something tells me you needed another reason to work hard if you are up.

To your point about needing a strategy that goes after both the older audience with the money and the younger audience that doesn't have it yet but will someday: I think this is what people don't get about the closing of Gourmet magazine. The business wasn't Gourmet magazine, the business is Conde Nast as a whole-- and Gourmet was just one of its approaches toward the overall market. Conde Nast was perfectly happy to let one brand (Gourmet) chase a wealthy, aging market while another brand (Bon Appetit) chased the younger one, knowing that eventually that cash cow chasing the older one would have to die. But they'd make tons of money in the meantime... and as soon as they didn't, Gourmet was dead.
THANKS MIKE, Great point!