They Did Build That — Twice

3. Stay technically up to date. Pay attention to how the world is changing.

The Twitchy idea, to become a "Twitter curator" — Twitchy is forever! — came about as a result of Michelle's ongoing involvement in conservative and Tea Party causes. She saw how activists were using Twitter and social media to organize and support those efforts while also shaping news narratives.

Ultimately, she thought that capturing, presenting, and critiquing "ephemeral tweets" would generate readership, and that her own Twitter feed and Facebook efforts would be great vehicles for moving traffic to the new enterprise.

She was right. In the 18 months since its mid-2012 founding, Twitchy grew "from less than 2 million page views per month to more than 12 million." It has became the "water cooler" top 20 conservative site intemperate tweeters most fear, and clever ones most enjoy. It was a surprise to me to learn from Jesse that most of the site's traffic does not come in through its front page.

4. Be willing to recognize and adapt to failure, and accept others' ideas.

Michelle's original inspiration for Hot Air was to build it around daily videos, known as "Vents." Many visitors, including yours truly, enjoyed them. They certainly did a great job of annoying and pressuring politicians in Washington and elsewhere who deserved it. Quite a few Vents are still available on YouTube, and they stand up quite well.

But, as Jesse noted, their viewership level wasn't sufficient, and they didn't see a way they could monetize their content. So they reluctantly abandoned the effort.

The entrepreneurial landscape is littered with really smart people who couldn't let go of their ideas and strategies, even when it's obvious that they won't work. By contrast, Michelle and Jessie moved on. They added Hot Air's "Green Room," where other reputable writers could submit content. They replaced the blog's top section, which had been devoted to the Vents, with headlines. They readily gave credit to Allahpundit, one of the site's two key employees, for both moves. Driven by "Allah's" special news instincts, the headlines became important as traffic drivers.

All of this went into the value that Salem ended up recognizing — and buying.

5. Keep the back office under control.

It's way too easy to take this aspect of business for granted. If you let it get away from you, you end up distracting yourself from your core business-building activities. Jesse clearly did a fine job handling this often frustrating arena, and Michelle's appreciation — and affection; after all, they are married — for all that he did was obvious.

Beyond their business successes, Michelle and Jesse Malkin have been invaluable in keeping conservatism front and center in the social media. Michelle pointed out that Twitchy, with its wide range of coverage encompassing topic areas where conservatives rarely tread, including entertainment and the full range of media, has been "reaching out to non-traditional people and giving (them a conservative) perspective" they might not otherwise ever see.

For that, and as examples of how to ethically build a successful business, we can't thank them enough.