How to Build a $5m Media Business Into a $20m Flywheel

Yeah. The two characteristics will that I think are most important when you look at the successful business, media and information companies are is there high regulatory and government involvement? If there's high regulatory involvement, that means change is going to be frequent and news information and data about regulation, governance.

Government involvement becomes really important and that means that everybody in the industry has to follow it. So I mean think of your examples there. Logistics, healthcare, housing.

Again where there's big capex spend, people are buying tractors or concrete or like something that like, like moves earth and costs millions of dollars. That means the advertising dollars are Going to be, going to be attractive. When clients are selling a 10 million dollar tractor, they tend to spend a lot on, on advertising it.

So I think capital intensity and government or regulatory involvement become pretty important boxes to check when evaluating verticals and business media.

It's a great point, Clayton, and it's one I heard from my guest Nathan Gregory of a couple years ago. Nathan bought Auto body news, traditional B2B publication. And one of the things that he pointed out was that the what is being advertised in the pages of Autobody News are, you know, a hundred thousand, three hundred thousand dollar lifts for, you know, repair garages sort of thing.

So, you know, one sale every two years from an ad, spend pencils for the advertisers. And that always stayed with me and I've heard you just restate that. So those two and then that and, or the regulation piece.

Great, great insights there, Clayton. Anything that we didn't get to, that you wanted to share with the audience.

Man, I think we covered a lot today. Will, I appreciate you digging into, you know, parts of my story that I haven't, haven't, you know, talked about publicly. We definitely went into areas that, you know, that made me think and hopefully we added some value to the, the audience today.

I can tell that you're comfortable in media. You're a very natural guest. You, you have, you've been the host of your own podcast.

Yes. Yeah, I launched a podcast called Powerhouse a few years back for Housing Wire. I've hosted a couple hundred episodes of that. And last year the president of our business, Diego Sanchez, took over, took over hosting.

I found it an incredibly valuable tool for building relationships in the industry and now he has the opportunity to do that. But I am, you know, actively thinking about my, my next show. We're in a new office, Will.