Business Tool Born on Web

We at Arkansas Business Publishing Group are proud parents following the birth of a new Web site, www.arkansasbusiness.com.

As part of this development, we’re pleased to add content from the Northwest Arkansas Business Journal to the Internet for the first time at www.nwabusinessjournal.com as a component of the statewide business information initiative.

For more than a year, we’ve been plotting strategy, seeking advice, developing the look and functionality, reorganizing information, and preparing for one of the most significant developments in the history of our company.

In speeches across the state recently, I’ve told audiences that I’m not a technology expert but can be classified as an active participant in the technological revolution. Every business executive must at least consider the opportunities of technology, from databases to external Web sites, and our opportunities are considerable.

We approached development of the Web site with a number of considerations in mind. Among them:

What do we like and dislike about other business information and publication sites?

What can we do on the Web as a company that others aren’t doing or can’t do?

How can we use the Web to build on our existing relationships with readers and advertisers?

How can we create a profitable business model? We haven’t developed the perfect plan or site, but I’d like to think we’ve jumped into the dot-com fray with a quality product that can serve, and evolve with, Internet users in Arkansas.

Daily Business News

Perhaps the most significant development aside from the Web site itself is the fact that we are now a daily news entity. One of my biggest frustrations since I arrived at Arkansas Business seven years ago was not being able to share breaking news with you as we learned it.

Those days are history because readers can register for our free daily e-mail newsletter for statewide business news or visit the “Today’s Headlines” section that is updated throughout every workday.

Today, we have a staff of 19 in Arkansas — including four in Northwest Arkansas — that is collecting, writing and editing business information that will be available and updated regularly on the Web sites.

One key decision we made was to make sure that, moving forward, we weren’t just a publication site that put our weekly content online.

While both Arkansas Business and Northwest Arkansas Business Journal content can be accessed, arkansas business.com encompasses far more information from multiple resources.

We have tried to synthesize our information into business categories whenever possible. Industry news, e-newsletters, a new businesses database and the Arkansas Web Links Directory all enable users to be specific in areas such as banking, real estate and health care.

Competitive Advantages

During an Internet conference in New Orleans this year, we settled on three elements that would give us a competitive advantage with our Web endeavors:

Brand name. Arkansas Business and the Business Journal are trusted sources of information whose names are familiar.

Exclusive content. Our content is 100 percent locally written because we don’t subscribe to national news services. National business news is a commodity; local business news isn’t.

This site ultimately will bring together businesses in Arkansas for e-commerce. While a number of companies can benefit from the worldwide exposure that the Web can provide, most realize that most of our business will always be local. We will sell copies of publications to people in California and New York who are researching an Arkansas company, but the primary focus of our site will be to serve the Arkansas business community.

I’m often asked if I’m worried about “cannibalizing” our print publications, and the answer is no. Internet demographics tell us that online users are mostly a different group from those who prefer to read print. Steve Forbes noted in a recent column that the print and online versions of Forbes are growing each other. We expect the same and are excited about the road ahead.