Modern Media Tips from an Old School Media Mogul

September 12, 2024

At Black Tech Week, Ramon Ray of “The Rundown with Ramon” sat down with Munson Steed, a veteran entrepreneur with 25 years of experience in media and brand building. Steed, the founder of Rolling Out, shared valuable insights on entrepreneurship, building media brands, and the importance of mindset in business.

The Birth of Rolling Out

Rolling Out, a media brand celebrating its 25th anniversary, focuses on four key pillars: business, thought leadership, health, and entertainment. Steed recounted the brand’s humble beginnings, starting as a free weekly publication in Atlanta. A pivotal moment came when a tobacco company executive offered to fund the launch of Rolling Out in multiple cities over seven years.

From its first cover featuring Atlanta’s Mayor Maynard Jackson to chronicling the rise of Atlanta’s music scene with artists like Ludacris and Outkast, Rolling Out has been at the forefront of Black culture and achievement. Over the years, it has evolved into a full-service media company encompassing print, events, research, and PR.

Building a Media Brand in Today’s Landscape

When asked about building a media brand today, Steed emphasized the importance of:

  1. Starting with a clear vision of yourself

  2. Developing a solid profitability model

  3. Conducting thorough research before entering the market

  4. Staying on the cutting edge of current trends and information

  5. Being agile and willing to learn

  6. Maintaining a belief in your own potential for greatness

  7. Viewing failures as opportunities for reset and growth

The Entrepreneurial Mindset

Steed stressed the critical role of mindset in entrepreneurship, particularly for Black entrepreneurs. He highlighted the need to:

  • Approach each day with a “game face”

  • Show yourself compassion and grace

  • Build a trusted network of advisors and mentors

  • Believe in your ability to manifest opportunities

  • Be prepared to negotiate in all aspects of business

  • Race against yourself, not others

Beyond Rolling Out: Munson Steed’s Diverse Ventures

Steed’s entrepreneurial spirit extends beyond Rolling Out. He shared some of his other accomplishments:

  • Author of eight children’s books

  • Writer of a women’s meditation book

  • Owner of the online retailer BlackBookstore.com

  • Writer and producer of a Top 10 Billboard gospel hit

Words of Wisdom for Entrepreneurs

Steed left aspiring entrepreneurs with powerful advice:

  • Embrace the belief that your cup runs over with abundance

  • Be willing to pay the price for success

  • Study successful models and motions

  • Practice the four Rs: Read, Resist, Rest, and Repeat

Munson Steed’s journey and insights serve as an inspiration for entrepreneurs, particularly those in media and content creation. His emphasis on vision, research, adaptability, and unwavering self-belief provides a roadmap for success in an ever-evolving business landscape.