Being My Boss - Larry Smith

Traversing through the tangled web of media giants, Editor+Publisher & Entrepreneur Larry Smith added a page or two to his own story.

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We've sterotyped entrepreneurs. They aren't always software geeks nor are they freak students that are catapulted to stardom for a wildfire invention. The founder of SMITH magazine wouldn't fit anywhere. Not even a year old, SMITH magazine is about everyady stories -of ordinary people and extraordinary people, waiters and actors, unemployed folks and millionnaires. All kinds of people, all kinds of stories. Follow the story of Larry Smith, founding Editor and Editor-in-chief of SMITH magazine on the newest installment of Being My Boss.

Why SMITH?

SMITH has been in my head for years now. Back in 2002, I was working at Yahoo! Internet Life Magazine. It was like Wired meets Entertainment Weekly. That's where I first witnessed the power of personal media. I saw how readers were really becoming a part of the story online and it struck me that people wanted to contribute to the internet. This was before blogs and user-generated media became the web-mantra. However, with the bubble burst, Yahoo! Internet Life went under and I lost my job. That's when I wondered: what next?

Living in East Village and working at Yahoo! had put me in touch with some very interesting people from all walks of life. Around that time, reality TV was picking up steam and everything just sorta clicked. A magazine that celebrated story-telling just made sudden sense. I knew there was room for a reader-generated magazine.

So I went with my idea to a brilliant designer named Robert Priest (Former Art Director of Esquire, GQ, and US Weekly) and asked him if he'd be interested in working with me on my idea. Miraculously for me, he agreed. We put together a prototype and then knocked on every editor's door in the New York media world. Graydon Carter, Isolde Motley, Eric Schrier, Don Welsh, Clay Felker, Kurt Anderson - it can be a tireless but fascinating game. I begged for face-time with editors. Here I was going to these big media companies, throwing in catchy phrases like citizen journalism and they looked at me like I was crazy. One editor even asked me, "What is a blog?" Granted, it was 2002 and blogs weren't so widely popular but you'd expect a magazine editor to be aware of the next movement. Anyways, a couple people got it but no one wanted to greenlight my project. It was a little disheartening.

Even though people expressed interest in the idea, no one wanted to fund it and make it huge. I wanted to do a print and web version at the same time but it takes a lot of money to go print first. I was advised to start with the web version but I was too stubborn. In hindsight, I'm glad I didn't get a business partner because that would've meant losing my creative freedom with the magazine. Perhaps?

It's funny if you think about it -I understood inherently in my bones that a great medium the web was for story-telling and I didn't listen to my own advice. We all have very high standards. I didn't want a web version: I wanted a print version first. When I couldn't find investors, instead of quitting and giving up the idea, I adapted. I could have done it sooner though. This magazine should have launched in 2002.

You are a writer. Is your transition as an entrepreneur difficult?

Good question. I had worked on a bunch of startup magazines before, so I was aware of the grind. But years ago, I recieved a fantastic piece of advice from the editor of Esquire. He said, "Freelance writers are sales people -You are selling your piece whether you know it or not." And you know what? He's right. Sub-consciously, I've always been a salesman. With your writing, you are competing for your reader's time. You are selling -making a case. Saying READ ME- I'M WORTH YOUR TIME.

Taking my prototype to media companies for funding was like going to venture capitalists. So even though I call myself a writer or an editor, I'm very much an entrepreneur.

Why is your magazine called SMITH?

Because it is one of the most popular last names in America. We also launched it on Jan 6th -National Smith's Day. One of those goofy holidays that exist. It was perfect!

What drives you to work everyday?

Yesterday I was at a party and I met an intriguing woman who works as a dominatrix. My immediate reaction was, "WOW- she must have a story!" And I asked her if she's be interested in keeping a diary about her job on SMITH mag. And she said, you know what- maybe! I'm meeting her today to talk more about SMITH and hear her story. THIS is what motivates me. Every single day. People have amazing stories to share, only if you are willing to listen. I'd be sitting at a resutaurant and just chatting about what I do and the waiter will tell me, I have a story for you. And it's just like that. Random people with amazing stories. Where else can I meet such people ?

Advise for apsiring entrepreneurs?

• Know your market. If you know and believe in your market, no matter how many times people say don't do it, don't listen to them. Do your homework right.
• Say yes to any opportunities: big or small. As a writer and an entrepreneur, I said yes to everything. Every bit of work that came my way and it paid off.
• Start small. Don't be afraid to deviate from the original plan. I wanted to start bigger. I wanted a print magazine first but I realize now that small is beautiful.
• Don't be afraid to ask for help. I learned that 9 times out of 10 people are usually nice. I just went to people and said, hey- I'm working on this new magazine and could I speak with you about it? People are amazing! I went to the editors of ReadyMade magazine and they could've easily looked at me as a competitor. Instead, they just laid it all out for me. I wasn't afraid to cold call anybody and it just amazed me how fantastic and helpful people can be. What's the worst they can do? Say no!

Best thing about being your own boss?

I have a vision that I really believe in from my soul. And unless I am my own boss, no one will let it the vision come to reality. This is why I'm glad I didn't get investors. SMITH mag could've turned into someone else's vision otherwise. Your vision may not be correct, but you'll never know unless you try it.

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And in case you were wondering, SMITH magazine is launching its first print version early next year. Small to big --- not so bad after all! 

Comments

[Beks]

I'm really enjoying this series!

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