25 Sep 5 Things Entrepreneurs Can Learn from Howard Stern

I may open myself up here, but I have to admit that “shock jock” Howard Stern is one of my true business heroes. As I wrote in my latest book, The Entrepreneur’s Growth Startup Handbook (John Wiley & Sons/Bloomberg Press), how Stern has built his brand and treated his people makes him a true superstar to me beyond his financial success and comedic (though controversial to some) talent. As a former radio station owner and current resident of his high school hometown Rockville Centre, LI, where his parents still live, I’m pleased to offer things to learn from Howard’s amazing career:

1. Don’t give up your base of success when a new idea comes along. Howard kept his early morning radio show even when he wrote bestsellers, made movies and became a judge on NBC-TV’s America’s Got Talent. He loves to complain about getting up at 4 am, but he knows the live morning show is the foundation of his success.

2. Know when a change is worth the risk. Howard gave up millions of listeners and steady income, moving from “terrestrial” to satellite radio in 2006 to a very new medium. He did it for more freedom and of course a boatload of cash and stock. But it dramatically reduced his audience, which has rebuilt since. And it did pay off, providing him and his family financial security and the return of the love of radio in his now uncensored show.

3. Work smart more than hard. Howard takes quite a bit of vacation but his team produces great new content for the periods when he is off instead of just replaying recent shows. He has a “news” team that always has new material and well-produced compilations such as best fights or a tribute to the late comedian Sam Kinison.

4. Home growing your staff pays off: Howard takes a long time to get to know potential employees before bringing them on board. Some were longtime interns or unpaid contributors to the show. He also has a knack for finding people to work with him who get the job done, love the excitement and put in long hours for many years with tremendous loyalty. Despite his brusque on-air persona, he is known as a kind and generous boss.

5. Battle boredom with a new challenge. As his brand grew tremendously, the risk of boredom was real. The mantra keeping him going: don’t rest until every single person in America (and now the world) is listening to him and only him on the radio. In the last few years he has reinvented the “A” list interview, talking for hours with the likes of Seth Rogen or Lady Gaga and getting deep into personal issues they never talked about. Innovating and re-engaging when boredom can develop are keys to long-term entrepreneurial success.

I probably don’t have to ask, but what do you think?