The American tries to put ideas back into business magazines

By Marty Steffens

SABEW Chair

(Editor's Note: This is the third in a series of articles covering the Fall SABEW conference, being held at the University of North Carolina-Chapel Hill on Oct. 20-21.)

We’re live at the SABEW workshop on the University of North Carolina campus in Chapel Hill.

In November 2006, a 112-page glossy new business publication hit the stands – well, okay, maybe only a few stands. But that’s about to change, as this new entrant, The American, sees itself as a magazine with its head in the cloud of ideas rather than chasing the earthly news of earnings or CEO travails.

Samuel Schulman is its publishing director, as well as a veteran magazine publisher and editor, and an investment banker.

The philosophy: “Business is every bit as interesting as sports; business is at least as interesting as sex. We need a magazine that focuses on the American way of looking at business…….Magazines are sensual objects that people want to own.”

Between the covers: The Secret Life of Lou Dobbs; Arguing for a Market for Body Parts; The Hunt for a (profitable) Black October; and My Jet is Bigger Than Yours.

How the magazine grew: From the ashes of The American Enterprise, the glossy pub of the American Enterprise Institute, which espouses the free trade, low tax mantra of many U.S. top execs. The publication though, was spurred by news of Conde Nast’s Portfolio; the American team zoomed from idea to publication in six months.

Their market position: As Schulman says, they are positioned in the “sweet spot” between traditional business magazines like Fortune, SmartMoney and Institutional Investor, and think pubs like The New Yorker.

The reader: He’s after the aspiration reader, a decision-maker or C-level exec who is primed to hear the message of the overarching idea. He “joneses” for the reader of The Harvard Business Journal, high-level decision makers, CEOs and economists who are hanging out at the intersection of economics, business and public affairs waiting to thumb a ride on the next big idea, or be inspired to create their own. But the magazine’s design, story focus and other aspects of the publication appeal to younger and more diverse executive audience.

The finances: Not breaking even yet, though supported by American Enterprise Institute. To break even, they’ll need a steady diet of 30 pages of ads per issue. So far, they’ve done it only once.

The staff: Only four editors compared to Portfolio’s 82. Writers come from the political side, with some experience in journalism. Those with long-form business journalism experience are encouraged to apply.

The American vs. The Economist: “They sneer,” we don’t, says Schulman. While covering the American way of business, including aspiration and inspiration, The American has also done an issue on the Japanese economy, and a China issue is in the works.

Their identity crisis: The title, the slogan (A Magazine of Ideas) doesn’t say business. The URL is www.american.com. The slogan will be changed to A Magazine of Business Ideas in the future, said Schulman.

Posted Oct. 21, 2007