DiscoverInvest Like the Best with Patrick O'ShaughnessyAdam Sandow - The Power of Print Media - [Invest Like the Best, EP.376]
Adam Sandow - The Power of Print Media - [Invest Like the Best, EP.376]

Adam Sandow - The Power of Print Media - [Invest Like the Best, EP.376]

Update: 2024-06-04
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Adam Sandow, a serial entrepreneur with a passion for media, shares his journey of building a diverse and successful business ecosystem. He started with a love for magazines and built a foundation in the beauty category, innovating with a subscription model that revolutionized the industry. Sandow emphasizes the importance of identifying pain points and creating solutions that address them. He highlights his experience with Material Bank, a platform that transformed the design industry by providing designers with overnight access to samples and streamlining the sourcing process. Sandow's approach to building businesses is characterized by a long-term vision, a focus on quality, and a willingness to invest in both building and acquiring assets. He believes in creating a multidisciplinary media ecosystem that supports and amplifies the value of his core businesses. Sandow's story is a testament to the power of identifying and solving problems, building trust through high-quality content, and leveraging a diverse portfolio of businesses to create lasting value.

Outlines

00:00:00
Tegas Advertisement

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00:01:38
Introduction and Guest Introduction

This Chapter introduces the podcast, Invest Like The Best, and its host, Patrick O'Shaunasey. It also introduces the guest, Adam Sandow, CEO of Sandow Companies and Material Bank.

00:03:13
Building a Media Empire: Magazines and Innovation

This Chapter delves into Adam Sandow's journey of building a successful media empire, starting with his love for magazines and his unique approach to the magazine business. He discusses his focus on quality over quantity, his innovative subscription model, and his philosophy of identifying pain points and creating solutions.

00:10:03
The Power of Distribution: MediaJet and Private Airports

This Chapter explores Sandow's strategy of building a unique distribution network through MediaJet, a company that provides magazine stands in private airports. He explains his rationale for investing in this seemingly unconventional approach and the value it brings to his media properties.

00:16:14
Building MediaJet: A Contrarian Approach

This Chapter details the origin story of MediaJet and the challenges Sandow faced in acquiring distribution in private airports. He shares his experiences with FBOs, the impact of the financial crisis, and the importance of providing value to high-end customers.

00:18:41
Print vs. Digital: The Future of Media

This Chapter explores Sandow's perspective on the future of print and digital media. He argues that print still has a place for high-quality content, especially in areas where visuals matter, and that it can be a valuable component of a multidisciplinary media ecosystem.

00:21:40
Building Beyond Media: Material Bank and the Power of Trust

This Chapter shifts the focus to Sandow's foray into the design industry with Material Bank. He explains how his media properties provided him with the credibility and access to build a game-changing platform that addressed the pain points of designers and manufacturers.

00:28:01
Material Bank: Solving the Sampling Problem

This Chapter dives deep into the founding story of Material Bank, highlighting the problem it solves and the innovative business model Sandow created. He shares his inspiration from Micro Warehouse, his focus on overnight delivery, and the importance of building a robust logistics infrastructure.

Keywords

Adam Sandow


Adam Sandow is the chairman and CEO of Sandow Companies and the executive chairman and founder of Material Bank. He is a serial entrepreneur with a passion for media and a focus on identifying pain points and creating innovative solutions. He has built a diverse business ecosystem that includes magazines, subscription services, and technology platforms.

Sandow Companies


Sandow Companies is a privately held company founded by Adam Sandow. It is a multidisciplinary media and technology company that operates in various industries, including design, beauty, and luxury. The company is known for its focus on high-quality content, innovative business models, and a long-term vision.

Material Bank


Material Bank is a technology platform that revolutionized the design industry by providing designers with overnight access to samples from various manufacturers. It streamlines the sourcing process, reduces waste, and improves efficiency. The platform is a testament to Adam Sandow's ability to identify and solve industry pain points.

MediaJet


MediaJet is a company founded by Adam Sandow that provides magazine stands in private airports. It is a unique distribution network that targets high-end customers and provides Sandow's media properties with access to a valuable audience.

Business Ecosystem


A business ecosystem is a network of interconnected businesses that work together to create value. Adam Sandow has built a successful business ecosystem that leverages the power of media to support and amplify the value of his core businesses. This approach allows for cross-compounding effects and creates a sustainable and resilient business model.

Pain Point


A pain point is a problem or frustration that a customer or user experiences. Adam Sandow emphasizes the importance of identifying and solving pain points as a key driver of innovation and business success. He believes that by addressing these problems, businesses can create valuable solutions and build strong customer relationships.

Business Model Innovation


Business model innovation is the process of creating new ways to deliver value to customers and generate revenue. Adam Sandow is a master of business model innovation, constantly seeking new ways to disrupt industries and create sustainable businesses. He believes that innovation is essential for staying ahead of the competition and achieving long-term success.

Print Media


Print media refers to traditional forms of printed publications, such as magazines and newspapers. Adam Sandow believes that print media still has a place in the modern world, especially for high-quality content and niche audiences. He argues that print can be a valuable component of a multidisciplinary media ecosystem.

Digital Media


Digital media encompasses all forms of media that are distributed and consumed online, such as websites, social media, and streaming services. Adam Sandow acknowledges the importance of digital media but believes that it is essential to create unique value propositions and address specific needs to stand out in a crowded market.

Customer Acquisition


Customer acquisition is the process of attracting new customers to a business. Adam Sandow emphasizes the importance of customer acquisition, especially in the digital age, and highlights how his media properties provide him with a valuable channel for reaching target audiences.

Q&A

  • What is Adam Sandow's unique approach to building a successful business ecosystem?

    Adam Sandow's approach is characterized by a focus on identifying pain points, innovating with business models, and leveraging the power of high-quality media to create valuable businesses. He believes in building a multidisciplinary media ecosystem that supports and amplifies the value of his core businesses.

  • How did Adam Sandow's experience with magazines influence his approach to business?

    Sandow's love for magazines led him to focus on quality over quantity, innovate with a subscription model, and prioritize building trust with his audience. This approach translated into his other businesses, where he emphasizes identifying pain points and creating solutions that address them.

  • What is Material Bank and how did it come about?

    Material Bank is a technology platform that revolutionized the design industry by providing designers with overnight access to samples from various manufacturers. It was born out of Sandow's desire to solve the pain points of designers and manufacturers, leveraging his media properties to build trust and access.

  • Why does Adam Sandow prefer building businesses with a physical component?

    Sandow believes that businesses with a physical component are more resilient and less susceptible to disruption from digital giants. He enjoys the complexity and challenges of building businesses that require a combination of technology, logistics, and human interaction.

  • What are the key elements of Adam Sandow's philosophy for building a successful media property?

    Sandow believes in focusing on high-quality content, building a strong editorial team, and creating a unique value proposition that addresses a specific need in the market. He emphasizes the importance of avoiding clickbait and mass-appeal content, instead focusing on delivering value to a highly engaged audience.

  • How does Adam Sandow approach problem identification and business model innovation?

    Sandow is a master of asking the right questions and absorbing information to identify pain points. He then uses an iterative process to develop a business model that addresses those problems, considering all aspects of the solution, from economics to logistics.

  • What advice does Adam Sandow have for entrepreneurs who want to build a business ecosystem?

    Sandow advises entrepreneurs to focus on building strong foundational businesses with good economics. He emphasizes the importance of using cash flow to build the next thing, rather than selling or flipping businesses. He also stresses the importance of building a strong leadership team to support growth and sustainability.

  • What are some of the key takeaways from Adam Sandow's story?

    Sandow's story highlights the importance of identifying and solving problems, building trust through high-quality content, and leveraging a diverse portfolio of businesses to create lasting value. It also emphasizes the importance of long-term thinking, a willingness to invest in both building and acquiring assets, and the power of a multidisciplinary media ecosystem.

  • What is the kindest thing that anyone has ever done for Adam Sandow?

    Sandow credits his parents for their unwavering support and advice throughout his entrepreneurial journey. He believes that their constant encouragement, through both successes and failures, has been a foundational building block for his success.

  • What is the significance of Adam Sandow's approach to building a business ecosystem?

    Sandow's approach demonstrates that a diverse portfolio of businesses can create greater value than a single company. By leveraging the power of media to support and amplify his core businesses, he has created a sustainable and resilient business model that has generated significant value.

Show Notes

My guest today is Adam Sandow. Adam is the chairman and CEO of SANDOW Companies and the executive chairman and founder of Material Bank. He has built an entire ecosystem of businesses and brands that have brought him into the game of media, materials, and beyond. From creating the beauty product subscription model to getting magazines in the hands of billionaires to transforming the design industry with overnight access to samples, when Adam starts a business he writes his own rulebook. We discuss the founding stories of his most interesting companies, his obsession with targeting pain points, and his philosophies for when to go all in and betting on himself. Please enjoy this great discussion with Adam Sandow.


Listen to Founders Podcast

For the full show notes, transcript, and links to mentioned content, check out the episode page here.

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Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes

Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.

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Follow us on Twitter: @patrick_oshag | @JoinColossus

Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes:

(00:00:00 ) Welcome to Invest Like the Best 

(00:04:12 ) Building a Media Empire

(00:06:01 ) The Birth of the Beauty Subscription Model

(00:09:56 ) Revolutionizing Magazine Circulation

(00:14:46 ) The Contrarian Approach to Media

(00:16:08 ) The Origin of MediaJet

(00:18:35 ) The Future of Print and Digital Media

(00:27:25 ) The Genesis of Material Bank

(00:35:23 ) Building a Compelling Model for Manufacturers

(00:37:26 ) Innovative Logistics and Partnership with FedEx

(00:40:32 ) The Importance of High-Quality Content

(00:43:49 ) Building and Buying Media Properties

(00:46:01 ) Creating Unique Value Propositions

(00:54:22 ) The Role of Print in the Digital Age

(00:58:41 ) Nurturing an Ecosystem of Businesses

(01:03:37 ) The Kindest Thing Anyone Has Ever Done for Adam

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Adam Sandow - The Power of Print Media - [Invest Like the Best, EP.376]

Adam Sandow - The Power of Print Media - [Invest Like the Best, EP.376]

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