Turn to the future
It takes more than three simple questions to determine whether an idea becomes reality at Triton.
“We’re a company built on forward thinking,” Schore says. “When we sit as a management team and forecast where the market is moving, … I use information that I gather as some data points that help us consider how to continue leading the way forward.”
In those meetings, the key is to keep your eyes turned toward the future.
“Instead of using tunnel vision for our industry, we really put on our forward-looking goggles,” Schore says. “If we can project technology trends and the needs of our clients, then it assures that our content, our technology, our resources and our employees are focused not just on the blocking and tackling of the day-to-day needs but also on the future needs of our clients.”
That projection involves determining an idea’s relevance and revenue opportunity for clients. When you do that, you’ll also narrow the field of opportunities to pursue, because you can’t be everything to everyone. Of the several hundred opportunities Triton investigates annually, it acts upon about a dozen.
“We tell clients no when we don’t believe that there’s a monetization opportunity for what it is they’re asking for,” Schore says. “If what they’re thinking is a good idea or growth opportunity, if we don’t believe that that will actually recognize the revenue or the growth that they’re projecting, we will share with them why we don’t believe so.”
To evaluate the revenue potential, run the idea by other clients to gauge the appeal across a larger audience.
If wide adoption seems likely, thanks to the support Triton receives as a portfolio company of Oaktree Capital Management LP and Black Canyon Capital, Schore has access to the resources necessary to provide the service. That may mean hiring more people or acquiring another company. But he’ll only do things that keep Triton ahead of the pack.
“If the revenue opportunity is starting to really take off and we’re not in that particular space or vertical, then chances are we weren’t in front of it,” he says. “If the marketplace maturity is in advance of our launching, then chances are we’re not going to launch it or acquire it. So we’re very focused on making sure we’re bringing technology and services to the marketplace that are ahead of the curve.”
That’s why it’s so important to stay in constant touch with the marketplace. If you realize a competitor releases that next best thing you were considering, it may not be worth your effort to recreate it only to compete for a market. Instead, focus on the next thing in your pipeline.
“We use the revenue stream or the marketplace needs as an indicator,” Schore says. “What we want to have happen is in advance of (clients) asking for it or when they do ask for it, we need to be able to have the solution to deploy.”
In the end, you’re always taking a risk when you pursue new opportunities, especially when you’re trying to stay ahead of trends. The better you can balance an understanding of both your business and the marketplace you operate in, the better your odds for success.
“There’s always risk in anything you do,” Schore says. “The most well-established business can launch a new product line and that product line could fail. But if they don’t try, then they’ll be stymied by lack of courage or lack of innovation.
“We are not renegade. We’re very calculated and we’re very deliberate, but we’re calculated and deliberate in a very fast-moving way against a set of data that we often get: great information or feedback from our clients and employees.”
How to reach: Triton Media Group LLC, (818) 528-8860 or www.tritonmedianetworks.com
