Editor’s note: The Daily’s editorial department acknowledges that this article is premised on a conflict of interest. This article is a special feature for Daily Week that does not represent the Daily’s standard journalistic practices.
In light of Daily Week and celebrating the Daily’s 45th anniversary, I dedicate this column to appreciating the success of the Daily’s business model and operational capability. I also want to highlight the lessons we can take from it, especially for students at Tufts, a school which I think falls short on its business education — come back for my next column, where I will discuss this.
As Tufts’ only financially independent student organization and publication, the Daily receives no funding from the university or Tufts Community Union. Its editorial, business and production teams work together to ensure the publication’s smooth operation.
The Daily’s business operations are entirely managed by its seven-member business development team, which oversees financials, cash flow, advertisements and client relations. Some of the Daily’s regular clients include Boston Pads, the University Chaplaincy and the Tufts Gordon Institute, all of whom contribute to the publication’s revenue. Independence from TCU funding also means the Daily maintains its own bank accounts for purposes of financial management. The operational account, managed by the business development team in collaboration with the Campus Life Financial Office, covers day-to-day expenses such as printing costs and student stipends, while the fundraising account is overseen solely by the Alumni Council. Altogether, these financial structures allow the Daily to operate like any other professional publication.
Although the Daily does not disclose its financial details, its business model is not confidential and thus could be a valuable source of inspiration for more organizations. Other on-campus clubs can learn from its approach — becoming more strategic with fundraising, more efficient in building client relationships and adopting a more cohesive model that integrates business and treasury operations with content creation. In doing so, clubs could strengthen their financial sustainability and potentially break free from financial dependence on Tufts, in turn allowing more financial flexibility and room for growth.
More importantly, these operational models should be made known to students, providing more opportunities for hands-on experiences in business. A highly successful founder of a major corporate fishing group once gave me some of the best advice I’ve ever received: “Try to intern at a Fortune 500 company. Your goal is not to gain expertise in any specific field but rather to see how big corporations operate and understand their internal structures.”
This is exactly what I mean about the Daily. With its scale, outreach capacity and financial independence, the Daily could be considered one of the most — if not the most — successful student organizations on campus, having one of the most mature and specialized business models.
Given Tufts’ limited focus on business education, I want to emphasize even more how important it is to understand how businesses function and how their financial sustainability is maintained. After all, there are many students at Tufts who have entrepreneurial ambitions. And, while not everyone aspires to be an entrepreneur, I firmly believe all students can benefit from having some business literacy. For those interested in pursuing this path, the Daily is a great avenue to learn about real-world business operations.
