Earlier this year the Corridor Business Journal was referred to as a “legacy” media company in a guest column published in another regional media outlet. It was not meant to be a compliment.
But what that backhanded legacy reference indicated to me was that the CBJ is no longer considered a startup company. Rather, readers and members of the public consider us something sustainable and lasting, which is an amazing achievement considering that 20.8% of businesses fail within the first year, 40.9% within three years, 49.9% within five years, 65.8% within 10 years, 73.3% within 15 years, and 80% within 20 years, according to the Bureau of Labor Statistics.
To be clear, we don’t think about being a legacy media company because we continue to have a startup ethos — which is important as the media landscape continues to shift and evolve. That’s probably why we’ve lasted and thrived over these 20 years. We are constantly innovating with new online and print products and events every year, and created the Quad Cities Regional
Business Journal (QCBJ) in 2021.
We didn’t start the CBJ in 2004 to get rich or create a legacy media company, we simply started it with the mission of publishing local and regional business news and information, and hosting events to business and community leaders in the market; and with the unstated goal of never getting fired again.
Years before starting the CBJ, I was “fired” or “laid off” or “terminated” — however you want to characterize it. It was the defining moment in my career — what Peter Drucker calls a “crucible” moment. Quite simply, I didn’t like getting “fired” and wanted to do whatever I could to never let that happen again. The only answer to that question is to be your own boss and start your own business.
And here we are 20 years later.
I distinctly remember two compliments that we received not too long after we launched the CBJ in 2004. One business leader stated that the CBJ “helped to better define the region” and another business leader stated that the CBJ “helped bring the region together.”
Those two compliments are something that we cherish to this day, and that’s part of the reason why we are so passionate about the Cedar Rapids/Iowa City Corridor region, and why we would like to see more collaboration and cooperation across the region.
This legacy we have created couldn’t have been reached without a host of people and supporting organizations.
The initial crew of people who helped get the business started were John Kenyon, Margaret Rios, Kelly Buchanan and Susan Larson. We didn’t really know what we were doing, but this group of talented media professionals helped birth this company, and I’ll be forever grateful.
I also want to thank my current group of talented employees that number more than 20, across two locations. These are amazing media professionals from journalists to designers to sales professionals and event managers. We cannot continue doing what we do without their dedication and hard work.
I do want to single out Andrea Rhoades, who retired in May after 16 years with the company. She started with us as Advertising Director and retired as Group Publisher and Chief Operating Officer. She came to help me operate the CBJ in 2008, which was desperately needed, after previously leading the Iowa City Press-Citizen newspaper. Her friendship, leadership and business acumen were instrumental in our success.
I also want to thank the following people who have been instrumental in business-related support services and advice in helping me found and continue to operate the company: Paul Heath, Bart Floyd, Tim Kintner, Pat Deignan, Josh Moore, Jack Gonder, Tara Dumolien, Nick AbouAssaly and Kyle Kunz.
The University of Iowa was also foundational because the business idea for the CBJ originated in an evening MBA class and our first office space was located in the UI Technology Innovation Center on the Oakdale Campus.
It certainly takes a lot of support from key people and businesses to make a business survive and thrive, and we’re thankful for that.
The most important lesson that I’ve learned over these past 20 years is that business isn’t the most important thing. It is, and should be, family. That’s what we’ve tried to instill in the company.
I’m most thankful for my wife Aspen’s support and encouragement, especially when I wanted to quit a good paying job and startup a business newspaper in our basement while she was a half-time first grade teacher and full-time new mother. We’re blessed with two great kids, Lucy and Quincy, who have been involved with and experienced the highs and lows of business ownership for their entire lives. Perhaps this legacy will continue to the next generation.
– John Lohman, Chief Executive Officer & President of the Corridor Media Group
