Joe Mansueto, AB ’78, MBA ‘80, on How To Be A Magazine Entrepreneur

With one successful start-up under his belt, Joe Mansueto shared with USA Today his tips on entrepreneurship. What made this discussion different was that Mansueto is now poised to apply his business philosophy to the magazine industry.

In Spring of 2005, Mansueto purchased Inc. and Fast Company, two struggling business publications. The challenge this time is he’s dealing with a mature industry where even well-known magazines such as Fortune, BusinessWeek, and Forbes have seen ad pages drop.

According to USA Today, Mansueto’s business approach focuses on building? a strong brand, choosing the right people and letting them get on with it, having a good design, adapting technology, and nourishing a business with investment. Among the wisdom Mansueto shares in the article, as he begins his new project, is:

• Create something unique about your business
• Define your business on your terms. It inhibits being lumped together with the competition
• Take it one step at a time. You’re running a marathon
• Use subscriptions to your advantage so you can grow a business without outside money

To learn more about Mansueto’s newest venture, read the November 11 article “Can he turn a magazine bust into a boom?” in USA Today.