Robert Evans, which presented a film clip to the Paramount Pictures Board of Directors during a very low time for the company, made the greatest presentation of all time for radio program directors, CEOs, and radio station owners. You can see it in the movie The Kid Stays in the Picture.

Robert Evans saved Paramount, and his film clip started like this:

"Good afternoon. My name is Robert Evans... and I'm senior vice president of Paramount Pictures.

 By the way, this is not my office. We tried to shoot this scene in my office. We brought the cameras up, but my office is too small to get the cameras in. I came down to the studio to borrow a set from The Young Lawyers, and that's where we are now. As a matter of fact, I don't even have offices at the studio anymore.

 Last year, we packed up our gear, cut down our staff, tightened our belts, and moved into small quarters at little offices in Beverly Hills. They're good enough for us. These past few years have been rough for Hollywood. We've made a lot of mistakes. Some people have learned from them, and some people haven't. We have.

 "Money we spend is not gonna be through extravagances. It's gonna be on the screen."

This phrase, "Money we spend is not gonna be through extravagances. It's gonna be on the screen," is the most important of Robert Evans's presentation. It's something that we must remind ourselves constantly.

We all have been exposed to situations where the money has been spent on beautiful and large offices and studios as well as ridiculous, ego-driven, and expensive marketing campaigns. I recall a media group president spending thousands of dollars on wine during a company dinner just after saying "no" to a research study that would have been extremely beneficial for the product. I had worked in offices that cost millions of dollars in renting when it was unthinkable to get funds to do a strategic market study.

Improving the product is the most important aspect of radio program directors, CEOs, and radio station owners' work. It's called investment; anything else is an expense and is ego-driven.


Here are four things that should be at the top of your financial strategy list:


1.     Research

Continuously studying the audience market with the right tool and the right consultant team to improve your product will ensure that you are enhancing your products, based on what your target wants and not on some assumptions. I used to work with Max Guazzini when he was the NRJ President, and his word about that had been "humility."


2.     Morning show

Investing in your morning show is crucial. It doesn't mean that you always have to hire a morning show or a TV superstar; you can create your own by investing in the right training and coaching education.


3.     Sound processing

Remember that the "money we spend is not gonna be through extravagances. It's gonna be on the screen." In radio, your sound is your screen. You want to have the sound processing that delivers the most pleasure to your core audience. A lot of rubbish had been said about sound processing, and it's just about giving extreme pleasure to a particular target and nothing else. You should not rely on factory presets, and you need to hire a sound processing expert (which are very rare to find). You need a sound processing expert, who only specializes in it and nothing else. Avoid, at all costs, the usual engineer, who only does sound processing as a hobby. If you don't know where to find an excellent sound processing expert, send me an email.


4.     Training for your team

You may have already seen a quote, that has been circulating online, which says, "CFO: What happens if we train them and they leave? CEO: What happens if we don’t and they stay?"


The only way for a radio to sustain in the digital world is to enhance it.

"Money we spend is not gonna be through extravagances. It's gonna be on the screen."