Ask entrepreneur Andy Russell, “Hey, what do you do for a living?” and you’re likely to get a response like, “Oh, I fish for striped bass around the Statue of Liberty” or “I sample the world’s best sake.”
That’s because Russell’s business involves publishing fun to-do tips on his Web site Inside Hook, a free daily e-mail newsletter for accomplished men between ages 35 and 55.
The site is just the latest niche venture from Trigger Media, a digital-media company Russell, a former private-equity whiz, founded last year. Looking for ideas on travel, dining, fitness or fashion? The 40-year-old Russell has you covered, sampling the goodies featured in the newsletter, which offers one tip a day.
Married with two young kids, the Upper West Sider spends his days brainstorming ideas with a creative crew of about 40. @work sat down with Russell to discover how this onetime teenage party promoter, 100-hour-a-week investment banker and co-owner of the hottest restaurant in New York City ended up on the forefront of digital media.
At what age did you discover you had an entrepreneurial mind?
The first job I had was apple picking with my family at 7 years old and selling the apples. By the time I was 16, I was throwing parties in loft spaces. I’d have 500 kids at a party paying $10 a head, pulling $4,000 or $5,000 a party. I paid my way through Cornell by doing that.
After college you co-owned Moomba, the hottest bar in New York, and moved
into private equity shortly after.
I joined a venture fund called East River Ventures, and I developed a lot of connections in digital media, so that became my specialty. Over the years, I’d met Bob Pittman, a media entrepreneur, and I decided to approach him . . . and we talked about some business plans. I had nine or 10 investment ideas that we could do together, and he said, “How would you like to join me and invest in some cool digital-media start-ups?”
Is this where the idea of the daily e-mail model began?
Yes, the first deal we did was Daily Candy [the e-mail newsletter for young women in their early 20s], which I brought in.
So what’s different about Inside Hook?
Inside Hook is the e-mail newsletter for the 35- to 55-year-old man who is accomplished, adventurous yet discerning, for the guy who has little free time in his life — but with that free time, he wants to make the most of it.
Your strategy involves “pain points” — the needs of your customer, figuring out what they’re lacking in their life. So, what’s a pain point for the 50-year-old exec?
It’s being fun. Take this guy, when he was young maybe he went diving off the Great Barrier Reef or climbed Kilimanjaro. Now he’s married and has kids and a business, and so many more responsibilities. The irony is he now has the means and access to do more. We help him out.
What’s something people wouldn’t expect to find on Inside Hook?
We curate ways for older men to spend time with their kids, too. For example, I spent a night at the Museum of Natural History recently. We camped out underneath the blue whale and went on a scavenger hunt looking for fossils. I had no idea you could do that.