Perry Haydn Taylor, big fish: The Man Behind GU, Charlie Bighams, Tyrells, Yeo Valley, Riverford Organic: How to Actually Get Your Brand Ready for a Huge Exit Where You’ll Make Millions

10 Jun 2024 · 2 h 50 min

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Podcast Summary: HUNGRY - "Perry Haydn Taylor, Big Fish: The Man Behind GU, Charlie Bighams, Tyrells, Yeo Valley, Riverford Organic"

Episode Overview In this engaging episode of the HUNGRY podcast, host Daniel Pope interviews Perry Haydn Taylor, a renowned figure in the food and drink industry, known for his work with a plethora of successful brands. The discussion revolves around preparing food and drink brands for lucrative exits and the strategies founders should implement for growth. Perry shares insights gleaned from his vast experience, emphasizing the importance of focus, creativity, and understanding the market.

Key Themes and Discussions

  1. The Dangers of "Tennis Ball Syndrome"
  2. Definition: Founders often chase multiple ideas, akin to a dog chasing tennis balls, which can dilute their efforts.
  3. Advice: Focus on one strong idea or product to build a successful brand.
  1. Understanding the Market
  2. Consumer vs. Retailer: Founders need to consider not just consumer preferences but also the costs for retailers to stock their products.
  3. Market Size: Founders should assess whether their product addresses a sizable market and if they can differentiate themselves in that space.
  1. The "3 Levers" for Selling a Brand
  2. Commercials: Ensure there is a solid commercial plan, including margins that work for retailers.
  3. Operations: Develop scalable operations that can meet market demands.
  4. Marketing: Craft a marketing strategy that resonates with consumers and aligns with brand values.
  1. The Importance of Brand Identity
  2. Creating Impact: Brands should seek to add value to their category and resonate with consumers emotionally.
  3. Avoiding Blandness: Products must be distinctive; creative packaging and clear messaging can help avoid mediocrity.
  1. The Role of Innovation in Success
  2. Embracing Change: Brands should not shy away from change but instead adapt and innovate to stay relevant.
  3. Consumer Engagement: Engaging with consumers directly and understanding their needs is crucial for brand development.
  1. The Prudent Path to Growth
  2. Constant Assessment: Founders should continuously ask themselves if their actions contribute meaningfully to their brand and category.
  3. Success Metrics: Establish clear metrics to evaluate success and growth potential.

Key Takeaways

  • Focus on One Thing: Specialization leads to better outcomes than trying to diversify too quickly.
  • Know Your Consumer: The more you understand your target audience, the better you can serve them.
  • Simplicity Over Complexity: Clear, concise branding and messaging resonate more strongly with consumers.
  • Measure Success: Define what success looks like for your brand and consistently measure your progress against these metrics.

Final Thoughts Perry emphasizes the necessity of being bold, understanding the nuances of the market, and creating products that resonate with consumers. The conversation serves as a roadmap for founders aiming for significant exits in a competitive landscape.

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This summary captures the essence of the episode while highlighting important discussions and insights that are valuable for anyone in the food and drink industry.

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Transcript

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0:00elled

0:30club perry understands the tentacles and the way challenger brands move think and act and today's episode is special we we talk about the exit plan like we've done loads of podcasts in the past about how to stand out in categories how to get in supermarkets but how do you actually exit like are you thinking of the right things there's loads in this we talk about the danger of tennis ball syndrome and founders chasing too many things at once how do ideas actually spread and we talk weirdly about mullets fuck knows why but we talk about mullets and the plant-based movement and how that's taken off what are the three levers you can pull to actually sell your business like what are the three things you can actually pull to make your brand ready to sell and who are you going to sell it to there's a gorgeous symphony of like commercials operations and marketing we talk about you know the hard truths like should you create a tomato juice brand probably not why because the sizable addressable market is not big enough there's just so much in this we talk about the prudent path to the big exit like what are the questions you constantly need to be asking as a founder we talk about his recent work with a brand called long carer i think it'd be one of the biggest things in food and drink and we go through his exact process of how you sit down you think okay how are we going to create a brand that's going to stand out where are we going to play uh what's the pricing going to be there's just so much in this you're in for an absolute treat as always if you enjoy the podcast i really appreciate if you could just not this episode maybe an episode that you've really enjoyed just share it with a friend put it on linkedin share it on instagram stories wherever we're all as they say every little helps and it really does um but anyway time for the episode with the wonderful perry uh i can't wait for this and i hope you enjoy it as much as i did recording it thank you i mean yesterday i met six new business opportunities right so i was like what's going on suddenly they're just and they were all massively different i mean i met so yesterday i met someone with zero money and then they walked in and came in and you know with a great idea an amazing business what was that um it was well actually i can't tell you what it was it was a plant-based business but you know and everyone's like you know another bloody plant-based business but actually it was i didn't even know it was plant-based because i basically went in i was like i turned up in the kitchen yesterday and i was i was bloody hungry and um so sorry you went to them no no they all came in here okay sorry i got loads and um anyway yesterday i guess i was bloody starving oh excellent someone's doing a tasting upstairs pork pies yum yum steak and kidney yum yum and i was like oh god naughty steak and kidney pie delicious you know yeah porky pies sausage rolls chucking them in there yum yum and i said anyway all right business what's next she went that that is next i was like what's that then she went that's the plant-based business i'm like you're fucking joking no way no serious so it's what gravy plant-based proper proper proper really yeah and actually this this guy's he's an ex he's actually are we are you recording this no no we'll record like this way oh we should record yeah we should go anyway we'll jump in a sec yeah yeah but anyway i mean it was just great and i'll tell you about it in the podcast if that's anything if that's useful but it was fucking good and this guy these two guys are brilliant and one of them he'd been in the sort of five years in the music industry and he'd be like a chef and he'd sort of done the drugs and the booze.

4:02Those people were the most interesting. You see them and you just go, I know your life story. Music industry, that's why I'm obsessed with chefs. Because a lot of them are close to the same rock star. They are into, well, Anthony Bourdain made them like the rock stars of food. You know, like he, see, Bourdain was obsessed with Marco Pierre White. Marco Pierre White was, you know, he had, How was he obsessed by? The great wife. No, he was the first. So he basically, he grew up in a council estate in Leeds, right? He came down here, and that's how he developed the Sloney accent, because, you know, back in the day, it was...

4:39Fair Slone. You know now, like, East London's, like, where all the fucking hipsters are. But back in the day... And they're all public school boys. Yeah, yeah, I know, it's hilarious. I went to uni with... But I am one of them, basically. It's going down to Hoxton, and I'm going to put on my East End accent. Yeah, yeah, yeah. Hello, Mike. Yeah, it's when a private school kid says calm and bless. I'm like, fucking hell. Calm, bless. I'm about to go and see the Labrador Tilly for a fucking walk. But yeah, so he came down and he was from Leeds. Obviously, he was just kind of like partying on the King's Road, because apparently back in the day in the 70s, 80s, that was the case.

5:18In my era? Yeah. That was actually when I was in London. Yeah. Nice. and then he created Harvey's, which was in... Yeah, and he used to throw people out. Yes. So he was the first rock star chef, and then he created White Heat, which was his seminal book, which is basically... I don't know if you've ever seen the pictures of him. Smoking the coffee. Smoking the coffee. Him and Peter Savile. Yes. And then, obviously, then Bourdain was like, right, he's my hero. Bourdain wrote Kitchen Confidential, which was that book. I didn't read that. Yeah, that's an amazing book. The thing is, I've never read as many books as you.

5:49Now I think you're really stupid. I know how you read all these books are you asking a bit closer? can I do that? I just like reading I said here like the cricket coming up to oh so he was he was yeah he made chefs Bourdain then took it to another level with Kitchen Confidential and then obviously he was putting out all the programs and then that's kind of how it suddenly you know because I've interviewed to do so many chefs. They're like, it wasn't cool to be a chef in 2000. Did you interview him? I don't think I've listened to him. No, no, no. I mean, he's dead now. So, yeah. That shows how little I know.

6:29Did he die? Mate, it's fucking sad. He committed suicide. What? Yeah, yeah, yeah. I don't know anything about Anthony Bourdain. Oh, he's, he's, I mean, he's probably the biggest inspiration of this podcast. Oh, God. That's so embarrassing. No, no, no. It's all good, but he... When did he die? He, in 2018, which feels like yesterday. Yeah, he was... Because that's embarrassing. He was seeing a girl, was with this girl, he's obsessed with this Italian actress. And she... Maybe that's why I don't know about it. She... Yeah, yeah. I mean, I didn't know about him until really, I started watching him in probably 2018.

7:01Like, bear in mind, he's been going since 2000. What were his restaurants? So he owned a restaurant in New York, but he never got to three Michelin stars. Really? And he became famous at 44. four he was late to the game and they were like you're so good at um storytelling and they basically was like right a bit like you know idiot abroad with carl popington yeah identify with that they're a bit like fuck it you just go around the world we'll record you and go and meet so i need to go and watch all this oh it will be it's a treasure trove that's my weekend ruin i mean not ruined but it's indoors yeah yeah it's he's so good and that's and that was the inspiration for this one of yeah because he was just yeah i wanted to basically just he was very good at like not doing the found like the stories but he was very good at just kind of i don't know when you watch it you're just like he'll be up there he'll be able to sit so there's an episode he does with barack obama right they're in fucking vietnam this is when he was the president they're in vietnam sat on these stores drinking um asahi beer and not asahi this clip and he's and it's just like everyone else is like oh barrett obama barrett obama he's like let's have some fucking foe yeah and just sit there and that was his genius is he could like have a bowl of foe with the president of the united states and there's that barrett bourdain's just in like just a ragged t-shirt barma's like all suited and booted um but he's yeah he's he's amazing but that yeah i don't know where where we were going well i was interested by your uh the marco pierre white story in the fact that he inspired Anthony.

8:40Oh, yeah, well, that was it, the music industry. Yeah, and the rock star chef. So this guy yesterday with the meaty veg, which was brilliant. And there was no shit in it. It wasn't pretty. I mean, he was one of those guys. He said he'd been a chef. Turned out, of course, he knew we'd been around in the dramatic age together. Can you keep this bit in? Yeah, yeah, yeah. We're rolling there. I knew we were a dad. i've got you i mean how many times have i done this yeah yeah um no he was great i mean it'll come it'll come clear when we when we when we do it i hope we do i think we're gonna do it but they basically turned up yesterday i think that's a good story actually because of course it is because everything's a good story but no the fact was i wasn't thinking i'm eating plant-based food i just went out and going i'm fucking hungry there's a poor pie i'll have that there's a I'm having that there's uh steak and ale I'll have a bit of that I mean just obviously not the whole thing but I was just grazing away what I thought was you know fantastic so my my my synapses were not primed for that's gonna take shit so the visual just looked amazing it was like the gravy the mushrooms you know it looked exactly like what I thought it was and if British hadn't told me I would have never known and in fact we had some friends for supper uh vic vic uh vic and i had um we realized that we're so crap that we hadn't actually invited anyone for supper for ages you know we were just running around doing stuff like you know being busy and uh i said i feel really bad because if we invite loads of people i know that i'm not going to do anything until the last minute and i'll sort of you know tit around with some glasses and lights and drinks and take the candles take all the glory for making you look pretty and you will spend three days doing some sort of otolenghi you know mash up with some crazy stuff and and no one will you know no one will appreciate it so why don't we just have a series of scruffy suppers so people sort of rock out and it's got you know you don't have to do loads of cooking and um she said oh that sounds like a good idea so i said why don't we just make everything vegetarian so that no one, you know, it was like 15 people or whatever.

10:57Quite a lot of people. And just not telling anyone. Yeah, yeah. And all of them turned up, a few people wearing red trousers, you know, expecting the full beef welly. You know, few Negronis, sunset, absolutely amazing evening, everyone tucked in and it was like, go and help yourself. Massive, massive shepherd's pie. veggie but no one knew i was always this product no this was vic making it with pre-lendels and everything but the point is my the point is that in the last few months i've had so many people say to me jesus you know i've i'm really off animals i i don't know why there is you know when you you know when someone starts wearing a mullet and you go sorry are you having a fucking laugh that you are do you know that you've actually someone's just given you a mullet yeah what and you go please tell me mullets are coming back you're like oh don't they go river out where they bury you know they're like yeah fuck off and that just that tipping point and you go it's going to happen isn't it and then suddenly mullets are normalized right well especially east london yeah exactly but all the public school kids with their fact that east london that accident that's what i find crazy is i there's now um but let me finish let me finish so the point is is that i think with the age and stage that i'm at i've suddenly gone oh god i've spotted it it's happening i know it's going to happen and and i said this yesterday i said had dinner with someone the other day and they were it was in la familia over the road that lovely italian restaurant yeah it's been there for a thousand years and he turned up this really good in front of mine he turned on he's been there you know he ate there 30 years ago and he said i haven't been here for like 20 years and he said i used to be a rock star and she was a legend uh who was he i won't tell you he's a he's a he's my mate called gary he's called gary he's called gary he's not gary from but he was a pop star and then he's like then he turned into sort of musician you know and a filmmaker and all this kind of shit anyway he sat down that that's relative actually relevant to our point he sat down and he was like yeah i'm sure there's something on here i can eat i mean what is that familiar mate it's like italian what do you mean i came in it so that we could just have like not he went oh i can't eat i can't eat any of this i was surprised he goes oh do you want to eat a bunny do you want to eat a pig i'm like oh come on sure enough you know and i looked at her i was like actually you know this person next door to us started to you know i've been talking to her and her to help and everyone was suddenly going you know you know i'm all plant you know i eat more vegetarian anyway i think my prediction is it's just suddenly gonna go hi there guys super super quick one um i write a weekly newsletter called hungry friday feast it goes live at 8am every friday i'm pouring my soul into this bad boy it's probably my favorite creative enderium i've ever done i basically pick apart all the biggest lessons all the biggest learnings from all the wonderful guests and throw it into a feast or a newsletter we've got over a thousand two hundred subscribers come and join the party i'm going to put a link in the show notes it's right at the top subscribe and if you are already a subscriber please just forward it on to a friend do the amount of favor it would mean the world to me anyway back to the old episode boys and girls this links to what seth godin was saying to me which was the my because i basically said you worked with loads of brands as well which and he was like no i haven't he gets i was like all right that's a fucking faux pas off to the races boy yeah yeah um i'm sure seth would never make you you're hard no i'm joking but he said he goes all i do is i notice and he goes what i do is i kind of just sit there and i notice things it's to your point is it's like going to that restaurant you're noticing it and as you said it's it's here and it's coming my opinion on the plant-based movement is it's a stupid word it's a stupid phrase I wasn't planning to start here but let's go into this this is why I love going in ad lib but I think it was right products but they are packaged wrong this is what I think what I'd love to ask you I think this is still doing really well but loads of them well is it i don't know i don't know i mean this i mean i saw them present at the hula and loki um event was very so this sounds like a very perry event hula and loki so so okay so all your listeners well this is something i want to talk about later on but uh a lot of your audience i'd imagine are trying to build businesses for sale yeah yeah So at some point, they're going to need to speak to someone who's going to help sell their business.

15:57And when you're little, you don't get anywhere near the big boy, the Houlahan Lokis, who are an M &A mergers and acquisitions firm. And what they are is they're an investment bank who basically bought up all of the little boutiques and made the boutiques that help sell small businesses in different categories. So you've got food and drink, tech, et cetera. So they're now one of the world's biggest mergers and acquisitions firms. And what you do is, what you do when you need to sell your business is you go along and you have a chat with someone like Sean Brown at Hoolahan Loki about two or three years before you're going to sell it.

16:39Or you come and see Tim, my business partner, someone like that. And you say, look, I'm thinking of selling the business, but I need to prepare it. uh you know well you do need to prepare it so there's a bunch of questions you need to ask like you know why you want to sell your business and all that stuff so they interview you and and talk talk to you about that and then they basically tell you who they think might buy it and you kind of need to get it ready for for sale if you want to sell your business uh self it because you're gonna have to go out and attract a load of people you know it's like putting your house in the market you've got to advertise it etc um and the thing about someone like hula hand lowkey or those kind of organizations there's loads of them um the bigger ones they tend to look at you know 100 million pound businesses transactions or more they sell businesses basically or they raise money and help people grow um and they start by having these conferences they have one in new york they have one in paris they have one in london and they're really good they get about a thousand you know people ranging from idiots like me to you know proper people um and to come along and they invite along and they kind of put them each of the companies on a stage for 15 minutes and they basically pitch their asses off about how brilliant their business is uh to see whether any of the people in the audience are interested in having a chat about putting money in investing buying etc so it's sort of you know that's your moment and that's a really good thing to think about if you're thinking about selling your business it's a really good thing to think about you know start with the end in mind and go well look i'm doing this plant-based business for example this yeah um you know and actually exits are a dangerous world because you should just make a good business but actually what is it about your business that's going to be attractive to a to a to a buyer so yes another thing to think about you know not a nightmare it's not just about making consumers happy because ultimately if you do that you're going to have a really valuable business but there are measures for success that actually a lot of founders don't consider.

18:39And last night I kind of was talking about this. They don't consider until it's too late. What are those factors? Well, profitability is one of them. Growth. Saleability. And, you know, so a lot of founders will passionately chase lots and lots of tennis balls, like we've talked about before. You know, they'll be like, oh, there's a shiny one. I'm going to go and start the, you know, I'm going to start a drinks business. Oh, I'm going to add some snacks to that. Because with people, you know, people who want drinks want snacks, don't they? And then they'll go, and suddenly the snacks business will do better than the drinks business.

19:10Or not better, but it'll be different. Yeah. But it's a completely different business. But you've called it one brand name. Yeah. And then suddenly you come to sell it to, I don't know, Diageo. We don't want bloody snacks. So you've actually reduced the value of your business. Because you've actually got, well, you've got a business that would be valuable as a snacks business. But joined up with a drinks business, it's not. Yeah. So you've got to de-merge it. You've got to say, well, and then, oh, hang on a sec, but it's a brand. So that's not a snacks business anymore. It's a totally, you might have built£3 million worth of snacks and£10 million worth of drinks together, and suddenly your business is£3 million less big because they only want the drink.

19:48Yeah, yeah, yeah. So these M &A guys are really good. And so my business partner, Tim, is ex-Rothschild. There's a really famous one. There's a very posh one. A lot of these are actually called Rothschilds. And then there's the capacity firms like Deloitte and Grant Thornton, those sort of people. And Tim spent 20 years helping businesses raise money and grow and exit. And actually having been in him being in with us for the last year, it's been amazing because although we've always been doing that, helping them, having that resource now in the front end of our process, the process has actually changed the way that we'd start doing brand strategies.

20:25How is it? because i interviewed libby from she's fucking amazing she is amazing so good and 7 17 7 17 17 was brilliant but she also said this back from back from the future yeah which is basically what you're saying with different packaging it's like how how how do you actually it's interesting because i think it's something i'm beginning to explore more um as this podcast kind of evolves is it is it's for eight for the first couple years it's like oh how do you stand out in crowd of categories how do you create a really good product all those kind of things whereas now some of the conversations are like well how do you actually sell and you know um william kendall said something through the green and blacks and um and new covent garden soup he says um never be never plan never i'm gonna butcher i am between this never plan to sell your business ever but be ready to sell it tomorrow always say already yeah always be ready to sell it and let's go into this saleability piece a bit further like we can talk about that whatever it's called conference Hoolahan Loki sounds like a tiki bar but I'm joking I'll get you to come along I'll get you to come along I'll get Sean, I'm sure the guys and we know them all really well you come along with me and I'm sure Sean would love it you should do podcasts at their event and actually you should also interview them that'd be yeah that'd be amazing yeah so okay let's talk about the same ability piece because because they um they yeah what would you say are some of the principles that most people don't think about when it comes to the x the actual exit bit because you know you've got they've built the brand they've got the proposition down like yeah talk to me talk to me talk to me darling yes i'm gonna give with the old exit thing right okay look this is this is beautiful because first of all you as a founder of a business need to get out of bed in the morning and know why the hell you're going to work okay so you tend to fall into the following camps you're uh you're either somebody who is wealthy enough to be able to afford to take risks and therefore you're probably doing what you're doing for fulfillment and and and and being around people it's almost like a lifestyle business you're you know you might be an incredibly successful business so lifestyle business is a bit you know disparaging but actually you're probably someone who is using your business as a way of getting a whole load of validation fulfillment and feeling as if you're making contribution you'd be taking risks and you know but you'll be wealthy and and that'll be a different type of persona i would put my lovely friend charlie bigham in that camp you know i don't i think charlie you know takes bloody big risks etc but ultimately you know he doesn't run a business to sell it ever he's never he's stated i will never sell this business famous last words tomorrow but he he's you know somebody like that or someone like these italian friends of ours that you know the runners these wonderful family businesses have got these amazing legacies so if you're one of those people you don't need to think about this cool most people aren't like that most people run a business to make money and they want to make money and have fun and they want to see growth and then as they do it as they start they're not thinking about the exit they're thinking about just surviving and getting out the foot you know when's the first thousand pounds gonna land in my bank now when's the 10 grand gonna land in my bank etc and then you know the 7 17 70 rule applies and they suddenly get to a point where they go shit what am i going to do now because i've got a succession problem i mean i'm old or i've you know maybe my partner's no no longer my partner i feel you know unaligned um maybe some sad this happens like you know someone dies or gets ill whatever so things change that people don't think about so there are three things i would say you need to think about when it comes to not just it's not about exiting it's about succession because when you start a business you're starting something it's a bit like you know having a baby it's got a life and it's going to live longer than you have probably so you start to think about three things first of all the commercials second of all the operation whichever way around you want to do it and third marketing.

25:04Those are the three fundamental things. And if you get your act together, and you've got a sound commercial plan, that you know, yes, I know the margins are there, I know that this is scalable, you know, I know that there's a demand for this, obviously, fundamentally. And I know that I can, that not only is a demand for this, but that demand will grow. And there's a big enough market for this to last and continue, then it's worth investing in the operation to deliver that what are so what are the commercial requirements uh do you have a product that anyone gives a shit about and actually wants that's the number one um can you make a minimum of 40 gross margin mostly you know could you if you're in food and you're dealing with retailers can you give the retailer 40 or more percent margin if not pack up and find a different business yeah yeah um can you make 10 15 20 percent EBITDA pretty quickly not like in eight years time you know in but once you've started if you've got a startup probably the people that are listening to this most of them are not raising huge amounts of capital so it's not capital intensive so they're probably wanting to get to profitability pretty damn quick yeah and in fact a business i met last night started with two and a half grand admittedly not in food two and a half thousand quid these two guys uh less than two years ago i think it was just two years ago i can't remember uh they make stripy boxer shorts for girls and they're turning over a million quid and making a ton of money genius so i don't know you know so those guys we've got getting their commercial model like they're like we've got a product we can make it the right price we can get the margins i mean that's pretty basic the next thing is you know when i get to can i see this business getting to 10 15 20 30 million uh-oh i have just discovered a secret weapon please please please don't tell anyone this secret weapon helps you get listed stay listed and most importantly grow this secret weapon is being used by absolutely banging brands like bold bean co perfect head neat trip and cheeky panda no wonder they're absolutely smashing it but look are you ready Please get your mitts on this secret weapon and absolutely smash it too.

27:19I am thrilled, so thrilled to announce our brand new podcast partner, Northstar. What is Northstar, I hear you thinking? Northstar is a monthly subscription to an online platform giving you access to category data, category insights, anytime, anyplace, anywhere. It's basically the Netflix for the challenger brand. It levels the playing field. Why do you need category data? Well, the first thing is making your pitch speak of the buyers and retail language is so, so important. and it's going to help you unlock more listings, unlock deeper distribution with existing clients, back the right MPD, and actually understand how your competition is performing.

27:54But the even better news, are you ready to rock and roll at your next range review? You no longer need to hire a full-time Gary manager. Instead, just parachute in North Star with your next Waitrose, Sainsbury's, or Tesco range reviews coming up. They're your outsourced in-house partner. Save money. Their team will come in. They'll help you prep, plan, and smash your next range review. I'm so excited to be partnering with Northstar. Check them out in the episode description below. How do you see that? How do you have that? How can people get that prudence? Is it the size of the market? Yeah, this is really interesting.

28:29This is something I was asking Libby about, which is this back to the future. It's because people are so... Founders are so in... I know they try to be on the business, whatever, but they're fucking in the trenches. There's no two ways about it. But how do you kind of say they're on their ship that they've built. They're trying to take a step back, look through the telescope and see, right, where the fuck is this thing going? Like, how do you see the path, the prudent path to 10 million, 20 million? I don't know how you do that. Nice couplet. Prudent path. Prudent path. Yeah, yeah, yeah. I'm branding that.

29:06Thanks, Dan. The prudent path. It's quite simple. it's very easy. You just basically look at what market am I actually in? You know, am I in coffee? Massive market. I mean, you know, am I in a big enough market where a small share is going to be a meaningful size of the business? So if the market for, I'll tell you a good one, I think we've talked about this before, tomato juice. Don't go into tomato juice. You'd have thought that tomato juice is huge, yeah? I mean, I would have thought it was when I first looked at it. And a friend of mine started a tomato juice business. I looked at the spreadsheet and I was like, I'm going to have a look at this.

29:45It's a tiny market and most of it's drunk on airlines. And yeah, you're never going to have a big tomato juice business. Say you're a founder and you've created a... So sorry, I'll just carry it because I've realized that I didn't finish my sentence or my thought, which is to take a market like tomato juice. Do you want to be a£50 million business in tomato juice? Well, the market isn't 50 million quid. So you're not going to be 50. So if you want to be a 1 million pound tomato juice business and it's a 50 million pound market, then great. Your prudent path to progress is, I'm happy to, I just want to make a small business, make a few quid.

30:29I'm going to be in tomato juice. I'm going to grow up to, you know, 1, 2, 3 million pounds and take a small salary. That's a type of business. So back to your, how do you identify yourself as either I'm someone who wants to build a legacy. but if you want to build a legacy business then over the next let's say you're going to live for 25 30 years and you want to still be in business what does that business look like in 25 years time is the market big enough to accommodate your growth um and will you for example start day one with zero pounds in the bank realistically just start with the top line how much do you want to see that business be in three four five years time and then what do you need to believe to keep that growing at, say, 8%, 10%, 15%, 20 % a year.

31:11You don't have to grow very hard and fast. You can grow businesses very slowly. In fact, ABF, at one point, I don't know if they still do, intentionally specified that they didn't want to see very, very high growth figures because they wanted slow, steady growth, which I think is an extremely... ABF? ...associated British foods, where Joan Bage came from, who own Selfridges, Furnham Mason, you know, Dota Cereals, all those twinings and stuff. so massive food brand uh the house of brands but they as a group are still sort of effectively family owned majority control i think and they specified very slow growth and that's really good because they don't want to race around and just you know grow it and flog it whereas say for example you know you're starting a tomato juice business or a chewing gum business or whatever it is and you said look what i want to do is i'm 29 years old i want to start this business today and in five years time, I want to sell it for a boatload of money and then do it again and again and again, which is probably what most people do.

32:13Then what you need to do is fundamentally go, I'm in a big market. And when I get to that size, what am I bringing to the category? And that's the key thing, where I'm either the best or the only that someone else can't do at scale. And that when I sell my business to, say, for example, a big company like Heinz or Nestle or whatever, that they will instantly say, thanks very much. All we have to do now is put that into our machine and our sales teams are off and you've got to have instant scale. So therefore, scalability is fundamental. So if you can't scale your operation, if you can't scale your marketing, and if you can't scale your commercials, you're knackered.

32:57So a lot of people say, I know I'm really not making any money. I'm making zero margin on this product. But when I scale it, I'm going to have a big factory and my unit costs are going to be X and I'm going to suddenly start making profit. And to be fair, you get a little bit of leeway and go, yeah, OK, your path to profitability, your prudent path to profitability is you will start making margins when it's at 500 ,000 units per year or whatever it is. but actually what you've really got to think about is but what happens for example if i've got a factory and then i sell it to a company that is going to get rid of that factory are they going to value the factory or are they going to value the brand you know are they going to is is nestle going to buy my you know chocolate bar factory no you know they've got chocolate bar factories they'll want to put it into their operations so you need to make all of these decisions about you know you know you make decisions you need to think about whether or not you're a manufacturer or a brand or you know where's the value that you're adding and it is what you're doing so unique that it's valuable or is it so unique and complicated that actually it's a pain in the ass because no one's gonna want that i'm probably not making much sense No, you are making total sense.

34:20I think it boils down to like, there's an actual, there's an existential question here, which is really interesting. I was writing about this the other day. It was almost, I need to finish it. It was like the Taylor Swiftification of brand building. And I basically wrote this thing saying, Well, when you re-recorded all the music. Yeah, yeah. No, no, but as in, as in the narrative, everyone's told in the Challenger Brandsphere to build, flip, they're like, we're just told to do that. Like as in, and actually I was thinking, take a step back, like not everyone can be taylor swift like sorry to burst your bubble honey i thought i had a yeah yeah i mean i've you know been playing my little acoustic ukulele of late but it's like not everyone can be taylor swift right so taylor swift is the big pop star so when you know that when you're not everyone can be a like philip not everyone can be a um an altruistic well no no everyone can be like what's the what's the sipsmith not everyone can do that like they're a unique example they're like a taylor swift it's like so when you know that you can then actually think okay well who do i who who do i want to be do i want to be build a business where i can i'm in complete control there's not investors i'm not having to bring a ceo ceo in and then i basically said you could be like andrew weatherholt when andrew weatherholt was a dj that no one will fucking know he produced certainly not me he produced the primal scream album legend uh absolute legend made this weird music but he's super famous to a very small group of people and i and i think well some brands can be that even though the narrative on linkedin all that shit is build flip build flip it's like well actually not everyone can be taylor swift like not everyone can get those three things right of the the margin the operations and the marketing well i'd i'd sort of say you've got to believe that they can because if they get the right advice this is what i wrote about the other day which is i mean we're all a bunch of duffers at the end of the day but but there are some fundamental things that people do need to get right and and i think that people like libby gibson you know you mentioned or the hula and loki's of this world or tim um tim hansel and stuff that you know a chat with them a 10 minute chat or half an hour chat in your business with someone and by the way you're not going to have to pay for most of these people because they're just happy to meet people god it sounds like a new bit i'm not trying to punt business by the way um but you know it just became it's so obvious that you need to talk to people who know about these things before you start making lunatic decisions because the it's the very fundamental basics of having commercial rigor that says i'm going to ask you some really simple questions and what are the answers to those questions but when when you give me the answer to those questions i'm going to then say look i'm going to ask you a couple more like for example how much does your product cost to make are you selling that product for one two three four times what it costs you to make because if it's anything if it's one that's not good you know so what you know what are your reasons for pricing that product at the price you are you know and everyone should spend even if they're spending a lot of time pricing they should spend 10 times more on that pricing plan pricing is key absolutely key of the p's of price and product promotion in place pricing is crucial so that's your commercial number one let's go into pricing quickly and let's just say sorry the taylor swift thing is taylor swift is is an amazing rock star you know and you can't get those tickets for love and money she's scarce so she only x people fit to an arena there are only 365 days she could be on stage that's her couture that's the ultimate experience tons of money probably goes into making that i i'd imagine they make money on concerts but where they're making their money is the publishing you know it's like they must be selling a boatload you know of tickets to the concerts but they must be also selling tons and tons and tons of stuff to spotify or actually i don't know how they do that i don't yeah that's always endlessly confused me she's a lot of but okay let's say it is about live performance actually i've just sort of put out a date on my music understanding i suppose but yeah taylor swift commands you know she's got demand and she's not cheap so i think back to your sit smith thing sit smith was a 33 pound bottle of gin when we started i think it was 33 quid it's probably come down now but you know and it was like what 33 quid am i going to be paying 33 quid for a craft gin it's like yeah you are you know and that's the whole thing about better than it needs to be more expensive than it should be that's a luxury brand positioning or a upper mainstream posh brand positioning it's not 300 quid gin yeah yeah so yeah i think getting those commercials right and then the operation is is it sits with a distillery well yeah it is but it i mean they sold to a very big company and i seem to remember that they have very large amounts of distillate you know rocking up in big tanks at some point until they could actually you know afford to make their own distillery so operationally they started to build in scale but they did at the right time they didn't go off and spaff you know 12 million quid on a massive fuck off distillery before they sold one bottle of gin you know who's gonna borrow your still to make my gin in so i think that again it's is that scalable and are you a distillery or are you just a gin brand because a lot of brands don't have any distilleries they just get someone else to make it and then when it comes to marketing it was their marketing scalable what were they doing to make their marketing scalable obviously packvertising was one of their marketing things but they also did a whole load of clever stuff with mixologists so actually their cost of acquisition was very low they went right for the jugular delighted to announce the extension of our partnership with the wonderful billion pool from mckenzie jones but even more exciting they have just launched a brand new brand as part of mckenzie jones called mkj ignite mkj ignite is a recruitment firm which specializes full shebang focus entirely on challenge brand space they work with some incredible brands lucky saint good race purdy and fig hunt and gather and real superfoods they can support with your hiring needs across all levels top to bottom junior entry level jobs all the way through and up to md co level so if you're looking for a field sales stomper a sales whizzer an ops guru a supply chain sensei uh you name it mkj ignite can help you out and look if you're looking to wet your whistle ignite your curiosity then check out the poddy we recorded with them back in july laden with wisdom all about like do's and don'ts of hiring and like how to create the perfect job description you will love it how do you mean is your marketing scale the two the commercials and the operations i get i understand that how that's that's scalable but in terms of how's your marketing scalable um along that adoption curve so right at the beginning you've got the kind of the a thousand true fans people who obsess with new gin and it's quite not easy but as you say you can build a real die-hard following of evangelists and build a good business and this this is this links to my point about the um andrew weatherhall point right so So some brands will have a great business.

41:42White Mouse, who are an Andrew Weatherhall brand. Three employees. They work three days, sorry, four days a week. Lorcan goes rock climbing on Fridays. Katie and, oh my God. You cut that bit out. Yeah, I'll cut that bit out. It's absolutely embarrassing. Yeah, Katie and Jasper, that's it. They live on a beach in West Island. They cook mackerel on the fucking beach. They make serious profits. Can we stop this? it's too depressing they make serious profits and they are um they've got a great product great brand they've done no real marketing they're in that thousand true fans bit um all the chefs pick them up they they basically get a pr piece for free and they've got a great business and to my the taylor swift just linking this together taylor swift versus andrew weatherhall it's like i think lots of people are trying to be taylor swift which is absolutely and we're going to get into how you do that there's actually a lot of families who i think would actually benefit being like okay what do i want to create it's a really great lifestyle business and i i love doing it i'm not burnt out all those things so that's kind of the andrew weatherholtz bit but let's say we're going for this we're trying to build a taylor swift brand right and we're trying to go from the a thousand true fans so we'll use seed lip as the kind of the example and we're trying to go up that adoption curve to the mainstream right i get i get it at the beginning they've got the distillery and chiswick it's switz with yeah does what i say seed lip oh fuck yeah that's the non alcohol yeah yeah yeah should have said sorry sorry sip smith um yeah how do you scale up the marketing well that's that's the point is that that someone like sip smith sold to beam santori so they just want to scale everything because beam santori have got well had i'm sure they still do they had everything that sip smith needed to get to the next stage so the scalability of their marketing was well actually we've got a really great brand we've got you know fantastic under those first few fans um but now what we need is you know the might of mass distribution we need to internationalize it go to america and win in there we need to be in travel retail so you know in airports duty free um and we need a whole sales force uh to go out there and you know wear out some shoe leather and do you want to employ 40 50 100 people no but have you got a recipe to give to four or five hundred people to go out and sell it yeah so you're developing the rest of the marketing recipe book that says this is our brand plan this is how you market it that's a scalable marketing plan it'll work across all these territories okay so that's the recipe that's what we do you see so you've got a scalable commercial model you can make profit you know how you're going to make the product infinitely if you will never run out of product because you've got this infinitely scalable manufacturing capability and actually in sit smith's case it's london so that's probably less scalable than someone you know who says by the way uh here's my drink and maybe they're selling cans um but i'm not going to send cans to america i'm just going to send huge great um containers of the secret liquid source e.g coca-cola syrup and i'll can it locally by mixing up some water and buying out a can or whatever so with sit smith they had a scalable manufacturing business but actually with gin you don't really need to make that much gin because it's a 33 quid a bottle to make a ton of money um i know we've got tax something sorry complicated but they had a scalable operation in a and they really had a scalable marketing plan as well and they said to beam santori thanks very much i don't know what they said to beam santori but they basically sold it to beam santori and beam santori said thanks for much they just plug it in to their network you know it's literally kind of i'll unplug your small team plug it into the big one and suddenly you haven't got any problems because they made it easy to be bored.

45:30Yes. They were genius. So it wasn't actually about the fact that it was a genius brand. It's the fact that Fairfax and Sam are absolute geniuses. Well, there's two parts to the genius in terms of this prudent path. It's like... Blame, save my smoke on the earth. It's ridiculous. Yeah, the genius of getting the thing going but then also the genius of... And why I'm loving this, mate, is we're talking about the part I haven't really talked about on this podcast before, which is this... The pot of gold. The pot of gold at the end. It's important. It's important because I know there's, you know, it's, I've got a mate who I can't say who it is.

46:05I won't say who it is in this podcast. Should we do more anonymising? No, no, no. Call him Walter. Yeah, yeah. Walter. I'll call him Walter. Wally. He's one of the fans I love. I went for beers with him the other week. Oh, now he knows who you are. And I don't know who it is, but he was like, man, I don't give a fuck. Like, I want to sell this business. I'm not doing, like he goes, I want to build a business to sell. I want to sell it to KP Snacks and that's the game plan and I want to make fucking loads of money. But I totally and utterly believe whatever motivates you, you know, if you want to make a ton of money, the only thing you need to do is just not fuck people over.

46:42you know and by the way everyone does you know end up with some situation where some poor bastard gets caught in the trap you know or you know they're lovely people but they're not quite right then you know they're on the bus it's not right working you know or there's a you know a thing a difficult decision you have to make but ultimately profit is not bad profit is what makes business i think i'm talking about you know profit is the oxygen that gives you the freedom to do what you need to do yes and yeah everybody needs a commercially savvy person in a business to keep the lights on to make sure that no one's suing you that there's money in the bank and that everyone's getting paid so you know and if and if it gets to a point where you can't sustain that then you are going to be well as a director of business you have a fiduciary duty fiduciary yeah well you have a legal duty oh yeah yeah but yeah sorry stupid word but that's what they use the phrase you as a director of a company that's the other thing i don't think a lot of people um realize this when they set up companies is that yeah you can go to jail you know you need to take your responsibility as a director unbelievably seriously and i think that's something that i don't think i've i've really spoken to people about before but most people i know are very responsible but there are some people out there who just have no idea they're so naive when they become a director of a company that is an onerous liability and that you personally have a responsibility um legally and you know company's house it's all there no one ever reads it but yeah so being responsible for keeping a business profitable for being responsible as you know businesses are entities they're legal entities and you're privileged enough to be allowed to do them and the law says you can have this but only on these conditions these conditions are that you work in the best interest of the company not yourself yeah so okay so let's let's say this there's a brand and this pathway which was kind of analogous throughout this conversation is is they've built the brand they've got it into sainsbury's waitrose you know the kind of usual suspects they're now kind of on they've been in the tumultuous waters of the ship they're now like sort of stepping up looking and thinking right how do we get to this pot of gold is it left right center whatever and they're they're we've talked about the commercials are they making 40 is this is the operation scalable i think the other well is the retailer making 40 sorry is the retailer making 40 are they making 20 ebitda as well i think well i mean there's not you know there's different models but if you said for example if you want to sell a product in a supermarket and you walked into a supermarket bar and you said hello mr i'm sorry personal supermarket buyer um can you sell my uh kp snack no whatever it is my snack uh it's two pounds 99 that's quite three quid um and uh by the way you can keep 60 of that then someone else walks in after you with exactly the same product says i could give you 30 which do you think they're going to go with yeah but but if your brand is going to say and by the way my brand of lovely peanut snacky things is already massively cult and popular so you know 30 units are going to fly off the shelves every week and the one that comes in is you know looks like a dog again you're more saleable and so that rate of sale and that margin is is is your unfair advantage and that's what about building brands is all about.

50:22It's about saying, I want to be easy to do business with. I want to make my brand really easy for me to go into somewhere and say, do you know what? I don't have a problem with margins because I've managed to get really good margins. I've got a great quality product. My brand is loved universally. So you're not taking any risk. You're de-risking it for the person who's selling it for you. And it's making them money because it's their businesses to help sell your product. and then ultimately then when you look back at your numbers and you said and by the way that's going to leave me with enough surplus cash to keep onwardly investing growing this business so that i can keep plowing it back in to things that are going to keep increasing my chances of sale of growth um so it's all about that margin because without that you know you can't offer them uh you know you're not an attractive proposition so what happens is and so many times someone walks in with a killer product you taste you go oh my god that is amazing and they go yeah it's incredible it is very expensive to make and you go oh god that's a shame is it and how much do you make when you sell it to uh sell it to the supermarket's well actually well at the moment we kind of break even you go what why would you do that well i think maybe we're going to be able to get some margins if we kind of sell 50 units a week to build up and then they never get off the ground what are some of the uh the ways that people can so i think boiling boiling this down this is what adam from innocence said to me the other day when we were talking about how they sold to he goes because you can boil it down into a sentence does it add to the category and those three things the operations um marketing commercials operations and the marketing but ultimately the the north star for to get into that pot of gold is does it add to the category those are the three kind of levers you can pull commercial but commercial ability commerciality whatever it is um i need more coffee do you want a coffee yeah no worries what are the ways that they can so with we can't we're kind of saying that is it to get to the pot of gold it's does our brand adds to the category because then then you're you're very lucrative to someone to sell to right that's the kind of yeah if you're growing if you're helping the category grow yeah and if you're helping the retailer make you know they sweat their space you know whether that's even you know shelf space it comes at a premium i mean i was asked this question of you know how much do you think it costs the retailer to put that on your shirt on their shelves you know they want they're looking at price per square inch coming back to them you know they spend x amount on a store um you know if they're picnic they don't have any shelves okay or a card or or whatever so you've just got to think about their business and what's going to help them and then when it comes to the category there's a consumer eye view which is where is the consumer being underserved in this category is there you know is there inconvenience that you could make it more convenient is there a lack of taste you know is everything a bit bland and shit you know is it unhealthy is it um yes but i can't think of any more there's lots of more um so you just think about all of those things of you know are you helping the consumer so that's going to increase the chances of of of of improving your chances in the category of being better and if you're really good could we be the only one in the category that's really really becomes very exciting that does x you know we are the only ones in the category that can deliver you know that quality that price but also that um by you know that have actually also managed to um displace bad with good yeah so categories generally play to the best player marks and spencers being a classic you know so marks and spencers generally set a quality benchmark for food in most categories and what you tend to do is say what are ms doing it's their food development can we make it as good as mns and mns obviously is only available or up until recently it was only available in mns stores i mean now you get a buddy airlines and you know so i think you look at the category and you go you know can we set a standard uh so was it adam i don't know the innocent guys actually but um is it adam yeah yeah so i mean he's absolutely right you know when we did dorset cereals all those years ago i remember the category even though it was a small one grew at 35 % suddenly.

54:47It's just like grew. So the readers go, thanks guys. You know, you've created a symbol of re-evaluation. You know, you've, it's what Adam Morgan calls it, is something's changed, which means that everyone re-evaluates the category. Yes. That's what Bold Bean are doing with beans. Oh God, she's amazing. Amelia is, I mean, I don't know her. I met her briefly and she sent me a ton of that stuff. She's brilliant. Well, she's, yeah, so I've known her since 2017. I've known her for ages. She was going to call it Humble Bean. and you changed it no no not me but she put it as on a whatsapp group i was like don't call it humble bean because you're not humble not that she's she is humble but like the brand needs to be like it's brilliant yeah but she um but i think the mns thing yeah ms have got these uh i think so hang on what do you think amelia has just out of interest what do you think amelia has done to the category i think she has so no one was shopping beans because it was tinned and shit point one now so she's focused she's focused so she's she's added quality and taste she set that bar as what what was that morgan's phrase a symbol of a re-evaluation symbol of re-evaluation re-evaluation second thing there's uh i don't like the word trend but i think there's a genuine fixing movement like a permanent change is actually the better way of saying that's what we were talking right in terms of yeah move to plants yeah move to plant not plant-based but a move to um sorry yeah so move non-meat yeah um which she's caught on to i think she's done an amazing job of actually at the minute focusing well two years ago focusing on that die-hard uh group of a thousand true fans the evangelists so she she knew from her previous job all the best best chefs in london she used to work for a company called food chain which basically got uh was a i'm this is wrong but what i vaguely remember is it was it was kind of like do you remember farm drop yeah imagine farm drop four chefs four chefs so she was basically out on the road selling into all these chefs so when she launched her brand she was like right i need you so basically the chefs had the status and the authority in in that word so you know she goes into coal rooms in peckham oh we're using these beans so she got all that on social media so she had that dial thing so that that was the other thing she got going product taste fucking banging yeah um so those are kind of the three factors so you so i just the reason i asked is i was interested what you're because you're so good at observing i mean you're like seth you know you're insightful observations we always talk about observations provocations and recommendations but that you've just nailed it there which is there's amelia she was doing something she noticed something yeah she noticed that thing i was talking about earlier which is like hang on i've just noticed everyone's boring around with wearing peasant's marks you know it's peasants or they've all got mullets she noticed beans yeah and then she just focused on beans which is what i was saying last night everyone's like don't chase too many tennis balls focus she focused on one one thing and she said i'm gonna go bean bean bean bean and actually she also noticed that when it comes to protein what do you do if you if you take meat out of the equation and you don't synthesize and create a whole load of faux shitty meat with lots of horrible processes so unprocessed protein with a single source and the genius i think of her was actually she's not said, bang to eat meat and whatever, because you can put a whole load of steak and ale pie with those beans, or you can eat them on their own.

58:25They are versatile. Oh my god, I am so, so, so excited. It feels like Hungary is finally swimming in the big leagues. I can't believe this. It's absolutely mental. But delighted to announce that Big Fish, yes, Big Fish, are part of the podcast. Perry's been on the podcast three times. Listeners absolutely love it. Some of our most downloaded and cherished episodes of all time but big fish are behind literally so many brands in your cupboard in your weekly shop charlie biggum year valley tyrells clippity goo rana i mean make the list is longer than the river nile but they also share risk and invest in brands that they really believe are a force for good that are brands that they believe are going to be the next big thing like how the snack that gives back but even more exciting news big fish want to speak to the next wave of small challenger food and drink brands that are destined for big things the raconteurs the movers shakers buccaneering visionaries so look if you want to speak to big fish and just have a chat get your brand in front of them then drop me a message my mate louis from local beer amazing beer was in their office aka la fish bowl uh last week chatting to perry freddie and the big fish crew so drop me a message if you would like to speak to them the way ideas uh change and this is what rory was sending me is this thing called the adjacent possible which is basically you basically said the way the way people eat meat uh the way people um the way alcohol free movement um booted off was not this diehard zealots of we don't drink that's not the way the categories grow no it's the adjacent possible so say this this is the thing is it's like right this is this is the um theoretical uh hard line yeah the theoretical like perfect is basically what so right no one is going to eat vegan meat no one is going to ever drink again that's the theoretical perfect i think fingers yeah okay adjacent possible which is how ideas actually grow is instead of saying i'm going to drink lucky saint every time i go out and piss up it's like well i'm going to get slightly piddled which is what i do parachute in a couple of lucky saints even out the ship slightly and then i'll go back to some fucking normal beers that is the way ideas spread it's the adjacent possible with beans you never do that i actually do i actually do i bet that's literally never happened it actually has actually so i'm not drink i'd have another i'll have another pint of guineas oh no i'll have a lucky sec it's actually more my mate saying mayday mayday popes yeah yeah yeah yeah start walking around catatonic cruiser like but um that's the way ideas spread and i think what emilia's done so well is she's the darling example of the adjacent possible which is have this isn't we're not this is not the theoretical perfect which is you only have to eat beans every single fucking meal of the week it's like well maybe instead of pasta use beans and that's what you know she's doing all the marketing maybe have a steak but instead of having potatoes have beans a lot of what she's doing is the adjacent possible yeah which is rory's theory and it's like no wonder and then i think more people are substituting beans out uh sorry substituting pasta for beans yeah i mean that's the way ideas spread yeah i mean i love the way this conversation is meandering i doubt your audience do no honestly the best ones are the ones that just go well i suppose i mean to bring back some framework of what i can't remember what you actually wanted to talk about by the way i don't think we ever got to that but i suppose i was just rambling on about my experience of last night and launching long crow and meeting all these entrepreneurs so i went to two events i went to and it does it's relevant back to the beans which is i went to the launch of this startup that we've done called long crow which is this long finish brilliant absolutely fantastic drink i've got which is trying to displace cider and beer because not everyone wants cider and beer and you drink this in pints and it's got a soda gin lime and a bit of pine and pink gate fruit and that category you know is a really interesting one as are beans as are all of these things because someone comes along like amelia or non-coro and says why don't why there's nothing new here i've got you know nobody's given me anything new and people love new and new doesn't last that long if i'm honest you know you you know at one point the world didn't even know how to pronounce quinoa now quinoa's quinoa exactly so so you're always trying to bring in adam's you're always trying to bring something new to the category but you've got to leave it long enough to say it starts getting into popular culture and actually normalize it and and rory's absolutely right you know going in and thinking everybody will now stop eating meat and they will only beans is basically psychopath you know psychotic it's like world domination you know but i think the nudging theory of if everyone was just to do a little bit less uh and they were to drink you know maybe for example you know displace their drinking with uh beer substitutes or in the case of long crow it's actually booze i mean it's a it's an alcoholic drink but it's kind of saying well when i drink a pint of something what can i drink and what their insight was well younger people like us go in and we don't want to session on the cider because it's kind of sweet and that makes us feel sorry it's crusty as well yeah and it's a bit old now but what the cider came back and now you know it was new and it's something you know i i don't really want i'm a bit you know a bit done with my beers and craft beer i'm out at a festival this is an outsider's drink you know i'm outside i want something that actually feels like i'm not really getting tucked in i'm refreshing long and boozy drink, but it's not going to really take me take me to pieces so it depends where you have well it's a little bit more alcoholic than i'd realize but but no so so this drink is exactly doing what amelia is doing which was saying guys this category is is getting boring everyone same same and not different you know there is just same same same and they're coming in with what i think is a game changer because they've said we've gone away and they're you know their finish experience is in finland in 1952 the summer olympics happened and the finnish government said we need to do something for the summer games with all these people arriving uh so they they created a national drink called lankeruk uh and they said they went to all of the brothers said right you guys can make this under license called a long you know it means long drink um and everyone rocked up to the olympics and you know they're outside watching the games in the lovely sun drinking a nice refreshing, sodery, ginny, grapefruity.

1:05:14Is it like a Finnish Pimms? Or is that blasphemous? Well, I'm glad you asked actually, because what we described, we spent a lot of time with Joe and Paige in this, trying to describe it. And what we came up with was, we described it as saying, it's, I'm going to get this correct, which is, it's the drink equivalent of leaping into a freezing finish flinging yourself naked into a freezing finish fjord on a fabulously fresh day that's how it feels to drink long career yeah i've started doing those ice baths well they get well this is it you are on this we'll get you we'll get you in fact actually we were doing a shoot uh we well i wouldn't do a shoot at the moment we were about to and i said have we got any volunteers to fling themselves naked into a finished fjord uh we might have to do it in the tent sign me up mate well there you are Dan I'm glad you've well on record I'm excellent you are now our long corot model I've started doing it but I'm just like I feel like I go to the David Lloyd and there's a there's a cold bath in there the other day I went in and there's this bloke me and my mate there's this bloke in this sauna and she's just going like this I'm like mate I'm in a fucking sauna like stop doing it anyway so he's jumped into this into the cold plunge the other day and we we don't I don't know this guy so I'm being very judgmental but he jumped out and as he's gone out he's gone and I'm about to unbunched jump in he's all the snots he's on his nose and it looks like fucking jellyfish in this cold plunge and there was a queue of three people I was like mate have some fucking decorum you know what I mean your mucus yeah isn't how he's I was like what the fuck and he sits in this and there we were a minute ago in the wonderful Finnish fjord and now we're in this filthy disgusting day well that's what I'm saying I may need to go more get outside Au naturel.

1:07:04But yeah, so I think... But back to the category, you know, the thing is that my prediction is that the category will suddenly wake up and everyone will be... I mean, I know I'm deluded. Everyone will be going... Hang on, sorry, I'm going to have to go and get the door. Because it's our coffee. Oh, sweet. Have you met Brittany? Yes, yes, yes. Thank you so much. So yeah, the... Thank you. The category needs a kick in the arse. um and you know people like amelia and and joe and page from long crow are the people who come along and give it a gentle kick in the house and not everyone has to suddenly stop drinking beer and cider they just need to go do you know what when i'm outside at a festival i'm going to switch from cider to long crow it might not take off but my guess is that people like my 19 year old daughter and those kind of um next generation they're going to be going we want to do something new we don't want to be like our parents drinking bloody strongbow you know in thatchers and orchard pig and all that shit you know they grew up watching beardy twats like me sitting there getting pissed whilst they you know should have been looking after children watching coldplay you know and well actually that was not that would be good but we were probably watching some far lesser shape but anyway their associations they might have nostalgic love of oh yes that's lovely but actually new is key to category growth yes so not new for new sake new because as tom goodwin says who i i think he's one of the you know brilliant people on the planet well many brilliant people but he's great is he constantly like seth observes why why is it like that why can't it be better you know why do i have to do you know why do i have to check in i mean i i look back at uh Tom Goodman wrote this book called Digital Darwinism.

1:09:00I always bang on the bat. And he's a great guy. And he basically is very provocative. And he challenges people to think differently, even when they've done something brilliant. And you're going, oh, that's amazing. And you go, yeah, is it? I mean, are you really focusing on the right thing? And I think that restlessness and looking at a category and saying, yeah, today someone's just done something, which is brilliant. But how are we going to make it better tomorrow? how are we going to make it better the next day and normally it's by looking at the little tiny things that will make a massive difference or even a nudge that will say you know why do i have to scan something why can't the why can't ai just tell me what's in my basket why can't i uh walk into an airport and not have to you know i went to an airport in la the other day i didn't have to give my passport that was weird and they said and it was a i can't which airline it was uh and they said you don't they literally had to train us not to do what we normally do and we were kind of clearly lab rats in this experimental bit and they were like no no you just have to turn up and the camera doesn't it and i was like what i hadn't i you know i checked in effortlessly and i wanted to send a note to somebody by the way you know that thing you said all they're doing it that is exciting and then you know then we take it it becomes normal and then great so we take it for granted again last night holly tucker have you done have you interviewed holly no that should be a great one yeah oh god you must you should go on her podcast i mean holly is amazing uh so holly tucker she started not on high street yeah and then she's now got holly and co and she was with me last night at this founders this is of entrepreneurs dinner for um this young girl jemima may has set up her a fashion brand and i said she's the way i'll describe it is she started a fashion brand with a thumb she just did it all on instagram when she was at school it's called no emotion and you know really clever she'd anyway long story short last night she had an entrepreneur's sort of dinner for friends of hers and people who had started businesses her age that kind of thing and invited holly and i to come along to give some sage words of wisdom which probably didn't and and i think that the the point was is that we were talking about stuff and they were looking at us like what the fuck and it was literally like the grandparents kind of going yes well back in the old days you know back in the old days you had catalogs and you were like what's a catalog and holly went my entire business was built on a catalog i used to produce a catalog every month and i was oh yeah i used to be involved in bowden it was all about the catalogue printed pages and they're like you joke no we weren't and so i think the normalization of category disruption happens faster and faster and it's exhausting it's relentless but it's very important uh so because that's how the world moves on you know i mean like for god's sake there was no such thing as a podcast yeah yeah oh you know now the problem is you don't have enough to i don't have enough time to listen to all your podcasts i have to listen to them on double speed i can't do that anymore because this is my head in so you're gonna have to send me some sort of clever way that i can digest all of your podcasts because there's so many i'm like how can i i'm walking around permanently plugged in and the other day i literally i was like dan's been in my head for like quite a long time now he needs to probably do less podcasts you know with me and more interesting people i don't know but how can i get like the distilled version of your podcast and then someone and then i saw this thing the the day which is like there's a thing that that it's like blinkist isn't it that takes uh yeah so that's really interesting so that's why i launched the espressos which is genius but those are the ones yeah yeah yeah which is like okay what are the best bits bohemi our beloved sponsor are helping build the fastest growing challenge of food and drink brands look if you're a small brand just starting out and need your first indie stockist your first hundred stockist to wholesale boemi are the platform to categorically speed that up but if you're a big brand wanting to get bigger boemi are also insane they make field sales marble smooth silky slick they're just epic ollie's ollie's been on this podcast twice actually they saw a 29 uplift in sales when using boemi to check major malt listings availability insane 29 uplift by downloading an app insane lucky saying my boy aaron duff who's coming on this podcast in a couple of weeks weeks he uses it to manage a team of 30 people and they've like to say have unlocked 500 draft listings by using boemy look you've got to get involved with this stuff it's absolutely insane and it will categorically change your life it's just the sickest platform i use it all the time on islands hi guys super super quick one so so excited look for years i've been badgering on about hungary the podcast you're probably bored to death thanks for putting up with me but hungary is also an agency and we look after one amazing brand called islands chocolate we've had a great time over the year we've won listings at load of wholesalers we've got milk and more we've got our first grocery listing coming very soon which is very very sick but what i'm thrilled to announce is hungary's merging with hc consulting um my boy harry clark and his wonderful team he's an absolute g they do brand strategy new business business and account management but why i really love working with harry and why we've got on so well over the last couple of months is harry was actually the founder of uh the boozy isolate brown pops he's been in the trenches he's grafted his face off he's had the sleepless nights he's had the turmoil he's had the triumph he knows what it is to be a founder he is a founder and he's got a proven track record in grocery and out of home holy moly dips the gut stuff savile drinks remio gelato so if you're a brand and you're you're stuck you're looking for like new business help you're looking to scale drop us a message we'd love to chat thank you so much back to the old episode what you were saying about the um about the change in and like the newness to categories is i think that's kind of one of the biggest principles of how we get to this pot of gold is like does it add to the category the category is always going to change i'd love to go back and almost this back back from the future as libby says or looking you know is your business saleable let's talk about um loncaro and they're right at the beginning like what are the things you guys have thought about which says right this is going to go from we're going to build the diehard fans and we can i want to sort of mentally masturbate over the marketing and stuff like that because i think what a picture yeah yeah sorry sorry but like all the uh all the finish ice baths and shit like that i wax lyrical about that i love that all that stuff but let's let's boil it down to the the commercial commerciality the operation and the marketing recipe book, which you said at the beginning, which I think is beautiful.

1:15:48Like you can work with so many brands. What was it about Lencaro? I mean, I think this will help a lot of listeners. So three months ago, it was a conversation. Today, it's a reality. The speed to market was extraordinary and the speed of decision-making was extraordinary. So I think, yeah, we probably have got things wrong and the minimum viable, ship it and see whether it works, see what works, see what doesn't work, change it and be agile is definitely the long-crow method. So, and again, I'm not going to disclose too much about Joe and Page's ambitions because that would be indiscreet, but they ultimately want to build a great business.

1:16:29They may or may not want to sell it one day, you know, but we've invested in it. And, you know, I think that they would be, what they've reassured the investors is like, this is a good investment so you'll get your money back you're either going to get your money back so you quest the question you ask is well how are we going to get our money back germ page you know it's your business was like what they can i pay us some dividends so you know you put for every pound you put in you're going to get x more pounds back over the course of x period because it's making profit we'll declare dividends or they can say well actually we've decided not to do that we're going to you know go for a a business grow it and then actually then rather like sits with handed on to a partner who we think is going to help us exponentially scale it so for example you look at the operational consideration of how do you make the liquid where's it made so they found a partner who has absolutely infinite capacity to make the to make the fluid and you know and actually although the recipe is a very very you know beautifully fine-tuned recipe and it's they've absolutely nailed that um yeah anyone could copy that you know within reason so that in itself is scalable but it's also not particularly protectable um so the next thing is well how do you get it into cans how do you get it into barrels because by the way this is served on draft as well as how do you make it protectable is that the brand the brand it's the brand because the fluid is it's okay marmite can be marmite and you can have someone else's yeast actually extracting it but it's bloody marmite isn't it so the brand is is what's going to insulate say okay we've got a great product but and can we make that product at scale so if someone ordered you know 100 000 cases of uh of long crow how quickly could we respond to that order and the answer is insanely quickly sure but they haven't built a manufacturing business they'll go well what we're going to do is we're going to invest 450 000 quid in a canning line they've gone to a partner who said by the way i can get you from naught to 60 very quickly and after that i will not be the person we're going to go to this person we've already mapped that path out so we know precisely where we will go and at what point and what that's going to cost in order to scale the operation so that that's been thought of yeah yeah and and agreed yeah the second thing is that and so that's your you know product and operation the second thing is your your cost per can so to speak uh or your cost per barrel like the margins that have been set uh will get better they will definitely get better with economies of scale because you have to you know sacrifice a bit of margin to say well you know we're going to we're going to have a minimum water quantity of 5 000 cans or 20 000 liters or whatever um but actually you know as i said earlier we started with a model which means that the business will quickly be profitable very, very quickly.

1:19:29And they've invested their time as well as their money, but they've invested an enormous amount of time in saving everyone a whole load of money by doing stuff themselves. I met someone yesterday, well, no, I met someone this week who had started a business with one and a half million pounds worth of cash and they'd sold 120 ,000 pounds worth of cans in the first year. You know, Joe and Paige have done the exact opposite it and they'll sell a lot more than that so you know don't spaff the money make it i love the word spaff it's from our favorite words so anyway commercials they got right and they've got the product they know they can make it at scale and then the next thing is yeah let's let's go into the marketing yeah well actually the next thing is the people so they don't have to employ lots of people because they've outsourced everything but suddenly it comes to a point where i said the other day you know we will set the brand up with you guys uh the recipe book is clear of how we're going to market that some of the secrets i'm going to tell you and some of them are but fundamentally we need to get the brand uh the the brand communication super clear now and we don't have to change it every five minutes because we got it wrong we really really get it right which is we know who this is for uh we know why what what people are not going to do in order to have this they're not going to drink cider and beer they're going to drink this we know where they're going to drink it which is outside we know the kinds of people we're tapping into which is the desert people who like leaping into fjords on a fresh day we know that we're going to be playing in festivals we're going to be playing out this brand lives outside and we know the distribution partners who are not right for us and we know the distribution parts who are right for us and we're going to focus on those it's yeah so so you've reeled that off super quickly no no no as in as in in a glorious way like it makes complete sense in terms of the we know what we're not for we're not we know where we want to be we're an outside brand genius what i'd love to go um almost go back a step into this big into the big fish kind of process of how you got there like how you came to long caro how you you know almost that you know you the provocations thing yeah obs and provs obs and provs because i think this will really help people who are trying to think of a thing they may have a brand that needs to refresh so i mean it could really help people so what are some of the questions you asked joe and page which came up these provocations because i actually think provocations are the birthplace of noticing things yeah and when you notice you can begin to you know because because we're an outside brand that to me is is something i've never that's that is noticing in in we're an outside brand but like i'm trying to get into how you got there so so it's just a series of different questions and i had to be fair but joe and page is so good that you know most of it they'd already thought through so it wasn't really us you know we were just playing back to hearing what what we heard yeah um and then seeing whether they felt that that was appropriate and right so again differently i can't give you the perfect playbook on what questions to ask because every founder's different but it so and actually jam pager are probably not a good example because they because they're so good yeah um whereas and that's the other thing if you look at you know commercial operation and marketing if the operator has experience and isn't learning for the first time doing everything for the first time that's an unfair advantage as well when you look at the business so if you are doing something for the first time don't be shy about asking someone who's done it a million times before because that's key so sorry to yeah of course evade that question but the process is is pretty simple which is guys you know you've got this drink you've what what made you think this was a good idea so you interrogate them about why what did they see and so the first thing he said is well we page works with uh vip um entertainment and sort of festivals uh you know hospitality and vip like a glastonbury etc that kind of stuff and so she sees a lot of the way that you know hospitality works and what people are drinking etc and so her insight was well you know there isn't an alternative there's not enough choice um there's choice there's sort of there isn't real choice because it's just different brands of the same fluid no one's brought new fluid to market that is actually going to deliver something that would be refreshing and lighter and longer and And, you know, somewhere it's not a long gin.

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1:23:59You know, it's not a gin drink. It's not a cider. And it's kind of unfamiliar enough, but familiar enough. That's a really interesting point. Yeah. And there's this whole thing about familiar and different. You know, you need to be familiar enough for people to kind of go, okay, I'll have a go, but different enough to be interesting and new. You know, anyway, that's another thing. so the questions we were asking were okay where does this brand live so we always talk about you know yeah where will our work live that's one of the questions where will our work live and it's like well it's going to live at festivals and everything they talked about was about having fun and actually we're like this is this this feels to us like finland is finland is a very outdoor type of image in your head if you think of in you don't think of indoors you think of outdoors so it was actually tim who said that in one of our workshops he went oh i think this brand lives outside so we went that's great tim that is that is you know absolutely brilliant so we said well if that was if we just said we're only going to be outside what sort of people what sort of activities would we associate with the brand and we said well someone found a picture uh i think katie one of my team said uh found this brilliant picture of these guys having a massive fucking laugh and they were out on this ice with a sort of you know ice hole and they're all sitting around naked you know sort of with a fire and an ice hole jumping in and out of the ice hole drinking not long career obviously and we were like that picture in a word and jam page were like that's us it's not vim hoff you know kind of you know marathons it's having a laugh in the outdoors having fun outdoors doing stuff that then afterwards you kind of you want to you want to refresh or you know enjoy a beer but actually you want something a bit lighter i was like oh my god it felt like this drink if i'd been 18 and this drink had been around and i came out from surfing and i that was the drink i would have wanted you know back in the 70s so yeah we just sort of immediately tapped into it i actually don't know the answer to your question it was just what you've said Perry is brilliant and I think it's it was from a picture yeah this I think people can boil it um a few things on this so the first thing I think is really interesting is where do we live and I think a lot of people will try and say oh we live everywhere and actually when you constrain no when you constrain it down that's when when you constrain it so we live outside so festivals so you know who you're going after and it's massive yeah and it's still but And it's still big enough in terms of that address, sizable, addressable market.

1:26:43It's still big enough. It's not like you're going to, you know, just Wim Hof retreats where there's about 10 freaks who are jumping in ice cold plunge pools, whatever. You're doing good, guys. Keep going, guys. You're doing good. Yeah. I would love to do, you know, they go out, they do all that shit afterwards. Yeah. So that's really interesting. And then I think what is, what is, and it goes back to this, this noticing thing. And it's something I'm obsessing with at the minute. is is is the ability to notice amelia's done it um is is and that's when you find these sweet spots and the fact it's a picture of three or four five people on this ice thing and even the vision in my head is so fucking clear of what that is i'm like that's the brand and then i was which a brand is a promise and a feeling i think it might if i brought it to two things it's a promise and a feeling the promise is that um is is that great quality drink which you have after after a serving refreshment refreshment yeah and a bit of with a bit of a pep up yeah but then but that picture and that that feeling of the ice bath just that is like going through me right now it's just like what's it like to eat marmite on toast you know how can you describe the feeling it's like a facial expression what's it like to drink long crow it's if you could describe it in emotional terms which i think we did a pretty good job on which is it's like flinging yourself into a Finnish fjord and it's alliterative it's like I know what that feeling's like you because you can feel me when I say that people go oh yeah they're almost like and because it's the zeitgeist of everyone loving doing cold swimming etc it was like tapping into the zeitgeist like yeah this is bang on so this is great it's like Amelia tapping into the into the chefs cooking you know because the other thing with with this work which I didn't touch upon is a lot more of the chefs were beginning to cook with beans so otolenghis came into the zeitgeist with cooking beans how are you going to um i know you can't reveal everything that's in the the recipe book but we've got this we've noticed something we know the brand exists outside we're not trying to be all things or people and and or live everywhere so we have zero money yeah yeah yeah we we've got this feeling of flinging yourself in the Finnish fraud and how do you boil that into a packaged brand?

1:29:09Hi there guys, thank you so much for listening as always it means the absolute world to me before we jump into this episode I need a really big big big big favour I have pitched to some massive guests, humongous guests and unfortunately they've said no because my subscriber count isn't big enough please please please just hit the subscribe button on apple or spotify or follow ultimately it helps all of us bigger guests equals better conversations equals hopefully better insights for you which means you can scale hopefully faster with a little less stress as well so please hit that subscribe button and yeah enjoy this episode we went to they went to a finish illustrator before we did the branding and just said look we just did something that just helped to talk about it and it was like as a holding page with any create they actually created a can you know they had a minimum run of about sort of 50 cans or something and they kind of created this red can and i looked at it i was like that's amazing and they'd written the word long crow vertically in sort of helvetica bowl or something like that and they had this red can um uh just as a sort of minimum viable product to talk about and i was like oh that's really interesting isn't it because it's great to have a start point it's so much easier that they'd already tried to do something and i said why why do you think that's not right and we all said what works and what doesn't work rather than i like and i don't like it was like what works and what doesn't work that's the best way to evaluate creative work if i said to you dan here's your brand okay here's a can of long crow um and you go oh i like this if you're the owner i mean i like the red and i like this it's like well does anyone really care whether you like it or not Yeah, that's you as a consumer, I like.

1:30:51But if you're working to a strategy that you've already defined that says it has to be outdoors, it has to be finished, it has to be, sorry, it has to be outdoors, it has to be finished, it has to be, you know, refreshing, it has to appeal to these things, it has to sit alongside this stuff, it has to, you've got a tick list of stuff it's going to do. So then what you do is you evaluate work by saying, we're banning the phrase I like, and we're introducing a rule which says you have to say, it works because or it doesn't work because this is so interesting yeah it's very simple but very important so you then go back to your strategy and you go right here we are here's a bunch of creative work that we're iterating and we're doing together um but we want to make germ page feel like a consumer so we don't want to have to give them the chore of choice of saying uh do you like a or b so most companies go yeah oh i've done three routes a b or c which you like what what the fuck it's your job to bloody well tell us what we've meant to do give me the recommendation you know uh so it's fine to say we've done this one we think it's too much and we think that one's too little and actually we think this one's just right the three bears but it's not fine to say here are three options we abdicate responsibility what do you think i i'm that's just my bugbear about working with companies and yeah so what we did was we went to uh through a process and said having got that strategy Katie and the team um and Sarah you know everyone Hannah all these amazing people I have upstairs they came back to me and they said here we are this is what we've interpreted as being the world that we live in the outside they had pictures and logos they'd come up with illustrations and they basically had done loads and loads and loads of work enthusiastically that said you know school project finland school project leaping naked into a finnish fjord so they had this brilliant picture of this guy kate had found of this bloke leaping up holding his bollocks basically off a boat into finnish fjord went oh my god you found the picture of a guy leaping into a finnish fjord naked off a boat and it was like everyone was like whoa look at him go oh, and it was great.

1:32:57And we're like, that is it. You've absolutely nailed it. So we then created a character. Katie said, do you know what? I kind of want this finish, I think maybe this finish kind of style of very modern, raw illustrations character who is this kind of weird, hairy, you know, long-haired dude chucking his pants off and leaping into a visual. She literally drew this. and we and and she you know she thought you know on the can for example the vertical long crow physically worked because it was the biggest way we could get the logo on the can and when you hold the can you know you can see people that the word long crow is like in your gob like that so that made sense um so it was like well that works because that brand is really visible that works because it looks finished that works because you actually have managed to take this sentiment of It's like flinging yourself into a Finnish fjord on a fine February day, freezing Finnish fjord.

1:33:57You've managed to do that. And actually, the colour red was completely wrong. Why is it wrong? Because it looked sugary and it didn't look refreshing. So actually, the white, we all looked at these different cans and different pictures. What were some of the other colours? Oh, reds and blues and all this sort of stuff. But actually, when it looked at it, it was like, do you know what? White really works. White and black with pink. This pink logo because it had a pink grapefruit taste, a sort of slightly tangy pink grapefruit. And you're like pink in the face when you come out of the cold plant.

1:34:24Yeah. And it just, like the whole thing, it was very semiotic. So you're evaluating the work, not because you like it, but because it says, it's interpreting the brief. And it works because, yeah, I get it. And if you then go into the next phase and you said, I'm not going to show anyone the strategy, but you show them the can in the context of all of the pictures of the fjord and the vibe of people throwing themselves into, you know, not just fuels but also surfing in cold water and uh uh you know and there's a towel with some naked person with a bum on it it says you know long live the outsiders or you know out with the nude in with the up with the old in with the nude and all these kind of things and pants off enjoy yourself and all this kind of stuff you put it in context people repeat back the strategy verbatim and you know it works because they get it it's and that's how you evaluate the package and you don't go off and ask 50 consumers on viper to talk to you about whether or not they like the bloody font fuck that you know you don't do that that's that's what losers do you haven't made a decision in their life what you do is you go joe and page walked into the room and we had this film and we did the whole shebang we one route the whole room they walked in and they said we love it and didn't change a single thing the they the i mean i'm obviously i love them for that yeah but the i think what you've said there about don't go and ask 50 people i think david ogilvy's got a quote which is you never see in parks statues of committees fucking genius you've never seen don't go and see a statue of committees i love that so much but and also then what seth seth godin was saying to me is i was like how do people one of the things i I was asking him and you, what you've said there, mate builds onto his stuff beautifully, but he was saying, don't ask what people want.

1:36:17Don't ask consumers what they want. He goes, he goes, he literally said, this is it speak, speak, speak, listen, listen, listen. So you, you do the talking, not, not, well, what do you want? Because that was just, that's the curse of averages. And he says, watch what people do. Exactly. So what you've done there is you've, and you've watched, watch when you've spoke, spoke, spoke, finish jumping into the fucking finish lake or fraud. uh foid and then or fjord and then and then you don't jump into fjord you'd probably break your ankles about that and think you're fjord massive um and but also what i'm where i was where i was trying to kind of take this is people who are just starting out there's fucking tons of actual lessons in there and i think it where you could do this off you know you're talking about that brand of the thumb as people can do this on instagram you've got to just ask the hard questions well okay yes yes yes yes so what happened with uh again rather naughty of me um in the process of doing the long crow with the team and jen page i was whatsapping the the the tits of stuff to friends which i to make them believe we'd already launched it so i was just whatsapping little videos and going check out check this out we've seen our new which poor Joe and Paige had never seen because I was just using that as my echocardiogram to see whether or not they came back and go wow or because I'm not asking them what do you like what do you think okay check this out and then they're going oh my god I don't know I've done that yeah because you because you're a geezer yeah I just did like a slap I can't do that by the way because I wasn't trained in the art of east end yeah man I went I went sorry biggest rude boy right there the The, the, but no, but I think it's, it's fascinating because it is crazy.

1:38:12What I think is crazy is how these one, a change in words can evoke a huge direction and change in what you actually end up creating. So what do you think? What do you, well, do you like this versus what works and what doesn't work? People can apply that straight away. I can't claim that one, by the way. That's Jamie Campbell came in and told me that last year. and I was like, what the fuck? I can't believe I've not been using that. Are there any others in this gestation period of a brand? Yeah, I mean, I think the fundamental one is right at the beginning. I mean, I'm bouncing around like crazy.

1:38:45God, someone really edit me. The first question I ask anyone is, how big's your business, right? I thought you were going to say something else. No, I didn't. Sorry, that would be really bad. If that's what you're like. so how big is your business and what you what they don't realize is that is a trick question because they all give me different answers and um so if i last night i asked eight people seven people how big their business was all of them probably under the age of 30 one said 50 people no not 50 people 20 people whatever it was one said a million quid one said uh we're making uh whatever it was 20 percent ebitda one said we've done x units i can't remember um you know and they use different metrics i didn't say how big's your turnover i said how big's your business and what you get from that is two things.

1:39:56First of all, is a metric that they think is important. It's like, what are they measuring when I say how big it's a business? Because, but the most important thing is you get an insight into what really they're motivated by. So some of them are motivated by product. So they just, they don't care. I mean, you're like, Jimmy Metcalf doesn't give a shit about money. He famously doesn't give a shit about money. He just gives a shit about product. So he might say, you know, oh, I've got, you know, X thousand products or whatever, I'm probably beyond a bad example. But young people going into business and saying, you know, how big's your business?

1:40:28Sorry. Do you help, Britas? It's me. That's the only thing I've done. That's fine. Thank you so much. Thank you. Oh, happy days. Knackered can. So, yeah. Back to how big's your business. If they say, if they start talking about product, you know they're product obsessed. If they start talking about turnover, you know that they're, if they talk about profit, you know that they're commercially you know so back to your mate you know kp i want to make a load of money everyone has a different motivation but that first thing is is like just intuitively what are they first thinking is important but i didn't say how big's your turnover how many how many you know how many products have you sold uh sometimes people talk about we're in five countries is there a right and a wrong on that no no no is it just to assess the temperature yeah it's just to evaluate what's what they hold important there's a second point to it which is they might be saying it because they might be trying to put the business in its best light so some people go we're growing at 20 yes well well 20 of fuck all is still fuck all so you know so if your turnover is embarrassingly low and it's you've been in business for five years and you're still only turning over four million quid or let's say you let's say you've been going for 16 years and your business is turning over four million quid you're going to go oh well we turn over about 4 million quid and go how long have you been in business 16 years or in our case 30 years you know is that a good measure well you're probably the slowest growing business and you know you're only 4 million quid in 16 years if you're for example a consumer if you're consultancy that's probably fine you might be a you know business that said we want to stay at this we just want to keep making this profit but if you're a consumer goods brand that's probably not so good because you know you kind of need to keep selling more and more and more to keep going alive you know unless you're increasing your price and staying at the same volume you're not really growing so yeah i'd say that that's probably not good so if they leave out the fact they've been there going for 16 years they're the same with formula they might say oh well actually you know we're 50 people or we're in five countries or whatever so you're you're trying to evaluate what metrics are important to them but you're also trying to evaluate what their bias is you might be also trying to work out what what they're embarrassed by, you know, what they're not willing to share and give up.

1:42:53And that might be preventing them from going because they're stuck because of the sort of stigma of not being profitable enough, you know. And, you know, it's very psychologically difficult to talk about businesses that are failing, for example. You know, people will not want to be seen as failures. So they won't talk about the things that are failing. But in fact, that's the first thing they should be talking about because otherwise, how the hell are they going to get better? So it's like walking to the doctor with a broken leg. Yeah, I'm fine. yeah you're not fine you can't walk i know i'm fine yeah well well you know how how are we going to fix that unless you know that you've got a broken leg so so yeah the thing how big is your business is an interesting one or how's business that's another one is the state of business because like where are you now and where you want to get to so back to the kind of questions that you ask are you know i know people we've had people in the business who've asked 30 40 questions to i found out you know recently that we had a we had a questionnaire that we were asking uh prospective clients i was like why are we asking these questions oh because it was awesome it's like well what are we gonna do with that information you know is that just like as a weird ceremony you know and then then someone yesterday turned around go why are you asking me these questions i said because i because this is why i'm asking these questions i need to know what's the end of the rainbow for you i need to know what are the other questions that takes the end rainbow well you know the fact that your standard questions for example if you're a direct to consumer business the things you need to know are things like you know commercially if you're in the commercial part of the questionnaire are you know what's the price of your product you know what are your average margins um what's your average way to purchase you know how what's your average order value uh what's the frequency how often you know they're buying it once twice three four times you You know, is the, what's your customer lifetime value?

1:44:41How much does it cost to acquire a customer? All of these metrics are things that you really want to focus on. And you don't want 18 metrics. You know, most of the time in direct consumer businesses, for example, you've got to like, I need customers. Ideally, in food, you want frequency. Yeah, you want customers that come to your business. So how many customers have you got? How often are they buying? and what's their average way to you know what's their average purchase so those are those are three quite good focuses i mean you could carry on yeah with 50 questions but actually if you haven't got any customers forget the rest yeah so you know i think people are bamboozled by the chore of knowing what to think about first and prioritizing the best people i've worked with i mean one of the best people on the planet when it comes to commercial businesses growing them for sale is David Milner and he has consistently and persistently managed to prove that he knows precisely what to do when he comes into business his agenda is I've got a great business here I need to make it even greater and then it and it's normally a private equity type business and I need to grow it and sell it.

1:45:56Because he did Tyrell's? He did Tyrell's, he did Lily's Kitchen, he did Saint-Pierre and he's now doing Crostromalika. So he what is I'd love to speak to him actually. Yeah, well, I, yeah. Tell you what, if you thought Seth Godin's intimidatingly bright and good, try speaking to David. David is absolutely brilliant, charming and brilliant. Okay, so what does he do that you've seen to get to the golden pot at the end of the rainbow? Like, what are some of the things, in terms of the way, you know, he goes into this business. He's ex-Mars, so many, many years ago. And I think someone like him is the perfect chair for sorts of businesses that want to go through that process of...

1:46:41The salability. A founder has created something amazing, but they've gone as far as they can. And then they need someone like a David Milner, who is pretty rare, to be honest, to come in and tell them what not to do. He's on the board at Dash, isn't he? Yeah. Yeah, Jack was speaking. I spent time with Alex and Dash and Jack out in NA with David. Yeah, yeah. Yeah, so what would you say are some of his kind of... Well, he's a very good example of someone who just asks very poignant questions very succinctly and has very little time for people who don't have the answers. Yeah, yeah, yeah. You know, because he just, he's like a machine.

1:47:24he just goes like yeah what are we doing how big is the market where's the big bit what will a small share get us will a small share be a big bit of that yes let's do it no let's not do it you know he's very very good i think he what jack was saying to me is he came into dash and said why the fuck you know they tried to do the big um big bottles of dash oh and what jack was saying that we want to get into adjacent another category like we can see there's some growth there i think david came in and goes you're trying to sell a bottle of this at say people four of us are having lunch right imagine coming in going oh do you want do you want strawberry strawberry sparkling water or peach it doesn't work you pop sparkling water on the table because it's accessible to everyone yeah and apparently david came in and was just like cut that what are two things you're focusing on this year you can only pick two yeah he's the king of focus yeah king of focus i saw that kind kind of the 80, 20 world of like, what are we going?

1:48:22And then apparently they just, they're like, we're fucking that right off. That's tennis balls. Those boys are, they're great. I absolutely love them. And we had, we had a real bromance in LA. We went out every night. What was, what was it like in Expo? Expo West. What sort of brands? Actually, your audiences should all save up. At least to go out there once. So yeah, because it's this magical place. what are some of the things that you've discovered there or brands or ideas that really excited you well i mean the first thing is travel does broaden the mind and i know you know that has impact and stuff but look going out there it's one of the biggest mind-blowing huge shows that you can go to you know you can go to siao and paris it's pretty similar but it is massive and i think the first thing is you realize that the world is full of opportunity it's huge and and there's plenty of opportunity for people to do interesting things um so here we are on a little island and we're frankly no one's ever heard of us so in america nobody has heard of all of our brands you know above the big ones so you know we went to we spent a week out there and the first few days i just spent in la going to places where there's like an amazing farmer's market it's been around for donkeys um actually one little business that i want to start if actually if any of your listeners want to do this with me i'd love them to kind of uh call up i've been told this is the worst idea ever but i'm obsessed by it uh it's a little shop which is basically a tourist trap it's a tiny little shop about the size of uh you know about half the size of a sea container and it has 800 hot chili sauces in it different types and they're hilarious and they're you know novelty sauces and it was absolutely mad and you go in there and you know i think how can i've never heard of this so this actually is a tiny yeah it's a tiny little shop and you go in and it's just like hundreds of different brands of hot chili sauce ranging from the hoss's fucking chili sauce of the world it's called to one that's like 120 which is you know they have its chili rating which you leveled my stuff yeah i know seth loves um but it's like this one comes with a health warning yeah you know and then there's silly novelty ones ones in coffins and you know and it's like novelty arsehole incinerating yeah exactly but you know so you go out there and you see normal and you see global but what you realize is that it just it just opens your mind to go thank god the world is huge and you know i might be buried in in what's going on in my bubble and it just bursts out so the show does that and then you go and see the zeitgeist and you can see what's coming on down the line in the next two three years and every year there's a sort of theme um and you know one year it's plant the next year it's you know function the next and and you know you can sort of see whole loads of brands chasing trends and you think i'm not going there where would you not go um weirdly this year i think I was just I wouldn't go I wouldn't go to seltzers I you know I dash will not be going to America I don't think because you know why would you go and sell ice to the Eskimos uh it was it was full of of seltzers and but it was also full of functional stuff it was full of low and no um and there was a hell of a lot I mean liquid death were there in in force so drinks were just off the off the clock going crazy everybody was selling some sort of a bit late to the party to be honest johnny come lately um seltzers and things like that uh so yeah i would not i would i wouldn't be going out to america with any of that stuff definitely not but anyway look you know the point is go going out to america makes you realize just how big the world is but also how big america is and that it just reminded me that i'd be having a conversation with someone and they'd say hey Yeah, we're a brand of, you know, I'm giving you one example.

1:52:33Dr. Bronner's, we met Patagonia and the Patagonia Provisions guys. We met Elizabeth from this amazing organisation called ROC, R-O-C, which is the Accreditation for Regenerative Organic Certification. She'd never heard of Ellen MacArthur, which is crazy because Ellen MacArthur is a global sensation. She was like, yeah, I can't think of her. Who's that? Oh Christ, don't you as well. Bloody hell, damn. Is she the organic certification woman? Ellen MacArthur sailed around the... Fuck, Anthony Bourdain, mate. Ellen MacArthur is one of the global legends of our time. You should definitely know she is.

1:53:08So she set up the Ellen MacArthur Foundation. She sailed around the world. She's the lady who sailed single-handedly a catamaran, death-defyingly fast, and got the world record for sailing around the world in a catamaran. Like, you should watch it. And she set up the Ellen MacArthur Foundation because she noticed ocean plastic. So she has created this insanely brilliant. movement which was all about getting the global industries to really rethink everything about circularity she she is yeah i mean she is amazing but to be fair you know there i am thinking she's a global social initiative she is and she's amazing we work with them but i go you know no one had heard of them i was like what the hell and actually the regenerative organic certification which one of our clients whole earth for example uses because of palm oil they've managed to find the right sources of palm and that sort of stuff you know in america this is big business and big news because they're trying to sort out america's soil problems and you know i'd never i had not really come across these people and the next minute i'm talking to you know i'm meeting with elizabeth i meet the guys from patagonia provisions i meet this lunatic guy from dr bronner's who's got this incredible brand and you just think god we're so small we're sort of here in our little british bubble and actually the world is full of opportunity it's so much bigger and actually also sometimes i do get a bit depressed about the state of the nation you know kind of oh fucking hell we're cocking it all up and then actually go out there and go you know what we need to do is think bigger we need to think bigger and systemically help change exactly what you're saying you nudging little things don't try and solve all the problems dilute some of the problems back to your sort of lucky saint analogy on a night out if we can do certain categories and display some things at a you know reasonable hybrid ratio of you're not going to clean up the whole category but you can start to clean up bits of it then you're going to make an impact and i think that that's the lily pond you know lily pad theory in reverse really well what's well you know you know there's lots of little lily pads that proliferate and suddenly the poles covered i suppose you're not trying to get one big leaf to cover the whole thing and you're going to wait for it to grow forever it's lots of little things come up and suddenly they make a difference it's like i kind of made that up actually yeah i like that analogy but but that's what i feel about um making change making impact whether it's trying to do things like a force for good stuff where you're saying we'd like to display shitty ingredients or whether you're trying to penetrate a market back to adam's thing about changing categories i think doing you know an inflorescence if that is that such a thing you know flowers that are made up of lots of little flowers like a chrysanthemum is it uh where you've got or an allium you've got lots of little flowers and it looks like one big flower but in fact it's just lots of little flowers i think that's the thing is you need lots of little players to come out and go this category's changed uh you know And actually, if you're thinking about things like protecting the soils and regenerating our ecosystems, it just needs lots of people to all do their bit and suddenly bang.

1:56:22Not one big bloody, you know, one solution, one fits all. It's not going to happen. And yes, the big corporates can make a difference, but their supply chains mostly are, you know, are pretty hard to change because they've invested so much money in them. So I was out in America going, I wanted to talk about supply chains to most people. And I realized this is massive. Yes. This is big. Seth's got a thing, which is, if you're trying to boil the, say you've got purple dye and you're trying to plop it in an ocean, nothing's going to go purple. But if you have a little swimming pool, you plop it in the whole swimming pool, it goes purple.

1:56:58We basically need thousands of little brands focusing on swimming pools, like Lincoln this year, Lily pad things. And then suddenly you have this kind of deep roads deep-rooted uh systemic change the what i'd love to talk to you about i think we've talked about is is you've had so many amazing successes with big fish what are some of your kind of favorite failures um but that may have not got out may have not been um the big fuck-ups the big fuck-ups yeah i think i think ultimately another thing i i one of my obsessions is I think we've talked about before is anti-fragility so yeah so you always post post post-traumatic I love talking about failures yeah actually just like describing the particular ones yeah but post-traumatic growth versus post-traumatic stress and it's like I think you've you guys have been doing this for 30 years and I'd love to know like if we could punctuate along the timeline where I think I've reflected on this before um so yeah I I think um every business has to go through you know if you're not failing it's the old cliche you know if you if you're not failing you're not trying hard enough um there's a balance between there's a balance I think that you need to strike of how much failure you're prepared to accept in order to get to where you want to get to.

1:58:24And so, you know, busy fools doing the same thing over and over again, failing and then repeating the failures is a crazy idea. So I think probably the best examples I can use, oh God, it's a difficult one, Dan. I think probably the best example I can give you of failure is where we've been presumptuous and we haven't done what we talked about earlier, which is... spoken to real people outside of quantitative and qualitative arenas. you know as in we've relied on qualitative and quantitative research groups and we've gone ah yes we will we'll cover our arses we'll spend 50 000 quid on some research and and i then say did anyone actually go out to the king's road and actually ask random strangers what they thought i was like no no we got uh we got a blend of respondents and we did some online video work and uh you know we've that that was being very unstructured perry you know we've done that and then things have gone peaked on even though we've had well their research said they liked it why do you think why do you think what is the folly with i i get why people why people do it if you're if you're because basically it covers all this and quantitative research quantitative research is generally done online with a picture of some shit visuals with stupid questions that say, would you buy this?

2:00:07Okay, and I'll get beaten up for saying this because every time I say this, but I still maintain the reason that people use quantitative research in the way that I've experienced it is mostly because they're in corporate organisations with people who have come out of large FMCG companies like Unilever and Procter & Gamble and say, we have to research this in this way because that's how it's done. And if we don't have that, then no one's going to unlock the budget because somebody didn't tick that box. Go to Picnic, one of the fastest growing and most incredible businesses I've ever worked with, they don't do that.

2:00:46They do it differently and they try stuff they see if it works and if it doesn't work they quickly change it and yeah they do better research but they don't do the way that the way everyone else does and so yeah i think the biggest mistake i've done is actually allow myself to be lazy enough to say yeah fine of course we'll do that of course yeah that's fine i'll abdicate your responsibility so someone the other day literally can't believe this somebody the other day we sent some workouts they're going to know who they are and um we had some typography we were changing some typography on some packaging well on the brand so the brand needed a bit of a font of all and the reason they'd come to us was because they couldn't they didn't feel the chairman didn't feel that this brand uh had been well orchestrated and they wanted he we'd done it a few years before and he came back he said look could you have a look at this because we want to grow the business and we want to we've got some plans to scale it etc and we think there's some problems with the recipe and i said yeah great we'll work with you and we came back with the a really well orchestrated and beautiful presentation showed them what we thought it should be and there was kind of unanimous decisions by you know some of the key decision makers that that was great and also you know particularly in this case the typeface isn't going to help your growth at this point the brand's been around for 20 years you know the font isn't what's going to what drives the growth you know it's fairly subjective uh and this team said they ignored the chairman they said we've sent it out for research so we've sent both typefaces out to research to see what consumers think we're going to get the consumers to choose the font and i didn't if they are listening to this i'll be in massive trouble i was like are you serious you know that that is when it reaches reductio ad absurdum as the latin scholars called the reaching the absurd and ridiculous why couldn't someone make a decision about a font that's when you reach a problem in your organization and you say this isn't working yeah yeah yeah you've got people on the front line who can't make decisions what warry said which was interesting is and it's kind of what back to lon caro is he said decision by committee is both right and wrong yes yes it's it's it's wrong in that going out and putting a picture online and asking which type fish should we go yeah with to 50 000 people that is wrong although most people can't tell the differences between two types that's that's wrong wrong and that and also that just gonna that just takes all the brave and courage out of decision making so don't fucking do that and it's also not the thing you should be researching yeah and but then what what um you do need is a group of um i think ray dahlia who wrote a book called principles really interesting book i read it when i was like 18 because it was he was p diddy's mentor and i was like i'm gonna read that i'll be minted by 25 hasn't happened but um you're rich in life he's got a thing saying he um you need a group when you're trying to make decisions at fast but but um you need a group of believable others others so that's you flinging out uh things to your whatsapp group what rory said about david ogilvy's he would write an ad copy he wouldn't go and send it to 10 000 people and say what do you think he'd say he had 15 people yeah my whatsapp and we trusted and i think that is the art of it is it's not saying both it's both right and wrong but if you're going out and saying should we change the typography there should be instead of 50 000 people there should be three people in the room who can just get it do it and then make the decision and move yeah so like say for example um i i did this many years ago i think i might be repeating myself yeah don't worry um i did a talk for some a venture capital company uh asked me to go and talk to a bunch of entrepreneurs.

2:04:52I don't know why. And actually, the theme they wanted was they said, could you explain what it's like to be on the receiving end of the creative brief, the process of being, you know, what's it like to be a supplier to these businesses? Rather, you're saying, what's important for them to understand about you and your company and your process, or companies like you, when it comes to briefing and working with you? Yeah. so i did a little talk about that and uh so i said look you know when it comes to research when it comes to decision making ultimately brave decision makers have to make difficult decisions and exactly as you say they need to know who to listen to and they need to know whether or not they're dealing with their cognitive bias you know are they just listening to what oh i like the sound of that one i don't like the sound of that one is it just confirming their bias or are they genuinely listening to provocations and stuff and going yeah i hadn't thought of that or that's created a sown a seed of doubt that's going to make my my work better because i can now go back and use that because i you know there's an insight there that said oh that looks like shit you know or that actually looks like spam or do you know um if you were to do that that looks like something that comes from you know the colonial past and actually it's bloody racist or whatever you know the things you hadn't thought of that's what you're looking you're looking for stuff you hadn't thought of and you're in some degree you're also looking for blessing and confirmation that you know this is what i heard did i like with longer you know we think this works because we want to know whether or not it's sending out the right signal so there's really good research and there's really bad research and there's it's very difficult you need a whole podcast dedicated to it and you'd probably need to be speaking to people who are not me about about that but i think the fundamental point i'm trying to make about your believers and the people you trust is

2:06:56knowing what the right questions to ask is the key and understanding what you're prepared to do if you don't like what you hear. So you've got to go into research and you've got to go into eyes open and go, I'm going into this because I want it to come back with stuff that either confirms that I'm right or tells me I've got it wrong. This is such a good point. And if you're not prepared to receive those results and do something differently then don't do it if you if you're going into it just to try and support your decision because you haven't got the bravery to go into the board and just give me the fucking money trust me i'll get it done and by the way if i don't i'll give you the money back or you know what are the consequences so so in this talk i basically tried to think you know how can i sort of get this across and there's a bit which is there are decisions that you would abdicate to others and the decisions that only you can make and you can't abdicate you can't delegate and i said how many people here are married if you get those hands up uh these middle-aged people and i said so okay and i put up a slide of three i'm afraid i put three women up because you know i this is a long time ago and i said so which one of these people should i marry and they were like i said so should we go to research why don't i go and research should i use qual or quant to decide which of these i should marry what questions am i going to ask about these three people and why i should marry them it's before dating apps and algorithms would probably tell me which one i should marry i was like you know it's absurd of course you don't go into research and say you know i'm going to marry this person i've got a whole load of criteria it's like you know it's the person who makes you feel that you fall in love with it's the person who you for some unknown reason very difficult to define there is not a list you know i can't list why i love vick and why i'm married to her but you know i didn't go into bloody quoll and quant research and then also the other thing is i've probably got my mate going you know you really need to marry vick yeah you will love this yeah the believable others so you know it's it's like that so just think about it it's like you know what would you do to when it comes to those sorts of decisions those limbic decisions those emotional decisions if it was if it was a person you were having to make a decision about like getting married to or going out with so that's the you know that's for me the difficulty of research it reaches a point where you cannot rely on others you have to rely on your instincts and to know whether it's right or wrong there's a logic path and then there's not then there's an illogical i don't know why but it's what we're going to do the the bit i thought i think you've what you've was really interesting was when you said the x person say it's a founder of a food drink brand does the research others are they prepared to get past their cognitive bias yeah because i think a lot of um a lot of research is based on insecurity thinking am i doing the right thing totally and then so and then when someone comes comes back and says for example someone's got a yellow packaged good like the the packaging yellow and someone says it should be orange but you're so die hard on yellow's your favorite color right yeah are you are you prepared for someone i know this is a bit of a naff example but like someone to say orange and then but but how is there an example although that's a very basic that's a good example yeah crude crude way of saying it but like is there an example of a founder you know who's who's done the brave decision making whereby they've gone in and not necessarily i've got the perfect one yeah they've they've gone in so i think x the researchers said y they've got past their ego and cognitive bias and and then actually changed the direction they're going well it's not mine uh it's actually david milner was working there at the time and um do you remember i don't know if you're old enough but do you remember marathons well as in the race no marathon bar no well marathon was what snickers were called and they were only called marathon in i think in the uk but globally it's snickers this is snickers so what happened was the uk mars team uh maybe uk and europe but pretty pretty certain is uk had Marathon, which was a massive, you know, it was big, Mars bars, marathons, Twix, and all those sorts of bars, you know, huge brands.

2:11:37And the Mars family said, right, we're changing it to Global Brand. We can't have different brand names. We have one brand. It's going to be called Snickers. And the UK team, apparently, and David was saying this to the other day, he said, you are mad. This is going to kill us. You can't change it. It's absolute brand suicide. They said, don't give a shit. we've done the research you know it's gonna it will kill the brand so don't give me shit change it change it nothing happened it was absolutely perfect Pram and carried on yes that is that's the point isn't it yeah yeah yeah and of course it made logical sense like oh my god we're gonna change everyone knows it's called Marathon well actually they changed the bloody name and actually weirdly what happened and my guess and as I remember happening is people go oh no one was thinking about marathons they change the name to stickers go oh my god it's bloody stickers awareness snickers also like the i've one of my things that fascinates me is like the like the way a word is written and how it can evoke so like mcdonald's is the perfect yeah on a matter pier so mcdonald's 7am um have you seen that i'm not a massive fan okay sorry Yeah, yeah, yeah.

2:12:47I'm... Dirty grubby. I'm a dirty bastard. Foodie. But 7.45 a mmm. And I'm like, it's beginning to create these sparks in me of like... Well, you are the master of language. Yeah, but like a hot... Not a hot dog, but a McMuffin in the morning is that mmm feeling. And Snickers is... Alliteration. No, but it's that the crunch is almost of the fucking peanuts. The Snickers versus a marathon. Doesn't work, but the Snickers... Yeah, and also... The other... So the other... I know you've actually teed me up perfectly on this, but um because i know and i'm not going to say names but i know someone who has changed their brand name and it has it's gone a bit pete hogg um because it can it can it can it can happen but i interviewed jack stein last week brick stein's son oh wow really interesting guy um and he was talking about one of my i think we both share this relentless pursuit of better this one percent improvement all the time and i'm always trying to get things a little bit better and what he basically said is he was talking about this vanilla trout recipe which sounds a bit yeah vanilla i had marinated trout last night it was amazing trout is it's salmon's better looking yeah it was yeah it's very delicious in fact yeah yeah you know don't let me forget about that yeah okay we'll talk about the trout but he was basically saying that um so they in the seafood restaurant which is the sort of the famous restaurant in padstow yeah yeah nick had this sorry not rick had this vanilla trout recipe and it was like kind of it was a kind of a hero dish it'd been on the menu for years and we were talking jack was i was the question i asked jack is how when chefs come in like how do you balance like this is the way we do things around here but these are the similar dishes uh versus like the new chefs coming in and wanting half the reason people want to go to a company so they want to grow chefs want to try and improve things and he was basically saying there's a hidden curse to the one percent better rule which is basically you start here with with the vanilla trout which is which has proven the test of time and apparently rick came in one day and he'd been in australia for you know or it hadn't been and he was off filming for ages and they'd had like a three or four different chefs come in and had taken this vanilla trout recipe and it would end up over here and he was like without realizing it they'd one percent improvement one percent improvement one percent improvement and then it took rick to come in from the outside thinking well what the fuck have you done to this do you see what i mean and it's something i hadn't thought about oh my god the one percent improvement rule can actually take you off course yeah from the main thing um well well also the thing so i'm just i'm clear you mean you take it too far you take the tinkering you take the tinkering too too far you're just messing around but it's also it's not it's because it's so incremental and it's different people coming into the business as a different chef yeah they're not trying to take it this far it's just it can happen over time and i don't know if that i think that does happen with brands i think the pringles pringles rebrand uh i mean i mean i eat a lot of shit mate so i love you're sort of like a wonderful paradox kind of yeah but the so pringles i'm like because they've they've done too much it's like you know like the minute it's all in vogue to simplify things i think nationwide yeah we talked about that didn't we yes right i could the great bandification the bandification well i did i did a i did a podcast with holly called conversations of inspiration uh where i i did talk about this actually actually she did a good thing she made me she makes all her guests at the end write a letter to their younger self i know that's it turns out i'd never done that before and i'd realized that um that was quite a clever thing by the way you know come on but one of the things that i was doing when i reflected on you know when you're writing your letter to your younger self it's all about advising your younger yourself about what you know and how you do things differently.

2:16:26And one of the things that it does do your head in a bit because you're kind of reflecting on all of these things that you think are important. And actually, one of the themes for me was the great blandification, which is that the life of the mediocre, the middle, the dull, the bloody, awful, you know, decision by committee, the stuff that you've been talking about means that you end up with this utter dreadful fucking mediocrity uh you know and the tinkering because what happens is is brands that are not i say brands anything that has a life longer than the people who started it means it has to be handed over and that those people will either be you know protectors and curators and keepers of the of the guardians of the of the grade or they'll come in and they'll just say well you know i'm a bit bored so you know what am i going to do particularly marketing directors poor things come in especially young and inexperienced ones they want to make their marks and they want to incrementalize they want to make things better but quite often it might not be in the best interest of the business but it's certainly in the best interest of their career path that they go oh you know i'm going to do something amazing i'm gonna do tv advertising i've never done that and now i'm in a brand i've got money hellraiser yeah tv advertising you know it's like oh great and i can move the number from 10 percent to 12 percent of awareness and you go yeah but you know what when you put that on telly you've just relegated it to shit food because only shit food goes on telly or whatever it is you know so i think the incrementalization is is is like if you are relentlessly pursuing better make sure you're doing it on behalf of the consumer not on behalf of your own selfish career or not on behalf your motivation to make things better back to Tom Goodwin is do it for the right reasons focus on the consumer focus on the end user not on something that's going to make you feel like actually I'm just going to use it it's hard I'm going to use this opportunity to furnish my feather my own nest with something that I can then leave this business said two years time ago well actually i did a fantastic tv advertising campaign it didn't well we haven't really had the results yet but hey look at my point yeah no i mean i would do the same if i was in a corporate assessing but the so but then so if you're if you're a bit naive no no no no no it's so true it's what it's part of as i said part of the human condition is to want to grow and to want to leave your markets that's what happened but but it does it back to the vanilla trout as you end up here when you should be here well no yeah no one's going to come in yeah apart from possibly me uh because i'm lazy but no one's going to come in and go my job is to make sure we don't actually change anything because that's brilliant you know so so doing being paid to keep things the same would be one extreme of confidence in saying we must not change that and at the other end of the spectrum is we must change things because we just surely change we have to change things so i'm expected to change things and you've got to find the balance between is back to that question is like why do we need to change things what are we going to hope to achieve what is it that we're trying to where do we think the growth is going to come from what what what are we underserving the consumer with or what are we not doing that we should be doing and why and making those decisions about focus and about knowing you know for example again I won't name the brand there's a brand that we're working with which has got a lot of different products and lots of different categories and their plan is ultimately to sell the business but that business is complex back to where we started, it's complex, it's got lots of different categories, it's got this and that and this and that and they're all brilliant and they're each in their own right, they're fantastic but actually the plan is to sell it to a particular type of business so the person in charge is saying forget about all that stuff we're just doubling down on this one category and the people who've been working that business for 12 15 years are going what but everyone loves this again yeah but that that was the business that you sold me but it's not the business i want to grow i'm going to get rid of all that or rather i'm not going to focus on it and it'll stay around but it's just not going to be the big focus because by doing all that we're distracting ourselves with this big goal so back to what are you thinking about where do you want to be in in three to five years what's your actual focus really good commercial and operational and marketing people make decisions based around that single-minded strategy and they know where they're going and i know it sounds so obvious but my god it's hard yes well the other example is lucky saint so so so lucky saint are like they do one thing well keep the main thing the main thing um just we're just gonna do one skew which can be quite boring for people well which can be quite boring so sorry and i i think that is their north star i've obviously i interviewed luke then two of my really good mates worked there oh right but then with the retailers are wanting mpd to stay fresh right so they've then you know they give us something new yeah the retailers like give us something new so so they've launched a hazy ipa alcohol free to keep the rate retailers sweet so i think and i also love doing these podcasts like because you pick up on things you're not really thinking about but it's like well actually it's like on one hand you need to be laser focused to keep to have this you know to take you up the prudent path of the rainbow one but then you also have this other path which the retailers like give us something new what's the mpd both should be in harmony yeah yeah and i suppose it's like how i suppose how do you get that balance right back to the category go back to the category you know it's not about applicating the you know the retailer may or may not be the retailer's agenda is to pit a bunch of people against each other and make sure they're competitive and that they can negotiate what'd you say pit well you if you're a retailer if you're a buyer yeah you're going to want more than one person in a category because you can negotiate you know you but you're a salad business you're so i'm not gonna have one salad company i'm gonna have two you're gonna create competition because you want to help make sure that you've got negotiating power and all that kind of stuff what you don't want what they don't want is one player so their agenda is slightly different to the consumer's agenda and i'm sure i'm going to get shot down in flames for saying this but but but ultimately you're walking through the door and you're thinking am i working for the retailer or am i working for the consumer oh my god that's i'm working for the consumer so you know salt the retailer they're just they're just a middleman to the end game, which is the consumer.

2:23:20So the good news is that multi-channel marketing now has opened up a whole load of pain for the retailers because, you know, I'll go to Amazon, I'll go direct. I could do lots of stuff. So I'm no longer reliant on a spotty 21-year-old buyer saying I'm in and out on a September buying window. And by the way, they're not there six months later and everyone's forgotten that you actually did an agreement. So businesses that want to grow should think about the end user and do everything they can to focus on the end user what it is that's going to make their lives more rewarding not always just placate a retailer because all you're doing yeah that retailer by the way is probably employing people who are very young very inexperienced intentionally changing them a lot so that they don't get too comfortable with relationships i'm pretty cynical about that but again i'm in so much trouble because you know one of my family members is a buyer but you know i think you've got to be really careful about who you're trying to be to please and focus on the consumer and if you do that then the retailer will actually go do you know what great i mean by the way i'm being very disparaging because actually retailers are brilliant but occasionally you get the olive buyer who doesn't like olives you get the you know you get the the ham buyer who's a vegetarian you know these people are not the right posts um by the way that's true we've met olive buyers who do not like olives and we've met vegetarian meat buyers which which is insane yeah but i think this is a really interesting piece of nuance this is like are you but it goes back to kind of the slightly to the taylor swift andrew weatherhull things are you building there's two paths potentially the consumer path and uh or are you building a brand to placate a retailer and i think that would be a folly Yeah, the two are kind of, I think brands start here on the consumer path, and then they get the listings and they suddenly think, fuck, we're placating a retailer doing these joint business plans.

2:25:19And that's where you get, I think that's one of the reasons brands get stuck at that kind of, you know, that four or five million, or as Libby says, that seven million markets, because you're in this no man's hand between consumer and retailer management. Yeah, I suppose the interdependent nature of retail, let's not say retailer, interdependent nature of finding a route to market by using partners who want to get you there. And it's in your mutual interest to sell a lot of these things. Ultimately, what you want is, as I said at the beginning, it's good for them. It's good for you. That's easy to do business with because why wouldn't we?

2:25:55You know, this is a great product where everyone's making money. Consumers happy. you've got to just get those all you know the graphic equalizer the little no one knows what those are anymore the little mixer the sound mixer of going you know actually we've got the price right the product right the distribution rights in the right places it's at the right price we're doing the right kind of partnerships and promotions and everything just clicks and that is when you know you've got success because it all goes like that if you get that those little parameters slightly out of kilter what happens it's a bit like a bike where one of the spokes is slightly kind of loose and then it and then you try and tighten up the wrong spoke the opposite you don't get the right one and it and suddenly what happens is you go for a race to the bottom on price or you go for it yeah a challenge of brand is like a bike then basically yeah yeah well i'm thinking a wheel wheel no but the first wheel is the consumer proposition and the product and the second wheel is the retailing and so like you're liking your vision yeah yeah yes i'm going like that i think that i think that's interesting because you need um if you're going say say you're a premium say your your first wheel and your proposition is like a premium kombucha brand yeah yeah if your if your back wheel is wilkinson's yeah you know they cease to exist now then that's just it's not going to be it's completely completely broken but if it's a waitrose and uh yeah exactly then it's going to work and then the two things are working in tandem you've completely destroyed my original metaphor but that's fine yeah yeah mixed metaphors are always fun aren't they yeah there's the bike and there's the fucking wheel yeah yeah yeah i could we could go into all sorts of metaphors yeah i mean look for me for me it's about balance it's about equalization it's about saying if you get the balance right for everybody it's everyone's interest ultimately i mean i'm not you know you want to speak to people who are days better than me about all this but if i walk in if i walk into a retailer and i'm on a budget i've got no money and i've got to try and feed my family you know and i'm absolutely you know constantly stressed about cash i'm just going to be thinking about price i'm just going to be thinking how can i I spend as little money as possible to get as much as possible.

2:28:18And I'm a very different type of person to an affluent person who's never even noticed the price. And there's a spectrum. And it's pretty much that. You know, you've got to serve the needs. A retailer has to serve the needs of the shoppers it's trying to serve, obviously. yeah and if you're asda you know you you know or you're little you know you're really really trying your level best to balance price and quality you know you and if it's such a clear arm we want the best quality at the best price and you know and but there are some cognitive dissonance moments there's some things that make don't make sense where people will pay more money uh sometimes house for less but you know they'll pay more money because they believe it's better quality and they don't want to feel like they're buying something that is not giving their family the best you know and that's what happened with picnic when we designed all of that it's now 2600 products now you know it's growing like crazy about trying to make people who are on a budget not feel like second-class citizens by changing one thing the presentation you know of saying do you know what when you buy this uh this milk or this uh sugar all these essentials that that you would normally have to pay you know x for why shouldn't you be able to buy it and feel good about the choices you make because actually when it's in your in your life in your kitchen every day it's not reminding you that you're broke it's actually helping you feel like you're giving your family good quality the best you can and actually why should cheap things look shit and that that was a really simple thing that again retailers i'm afraid i mean god it's massive how can you blame them it doesn't look value what do you mean by that you know it it looks too premium what the fuck you know what it's gotta look cheap and shit why well because we won't sell it it was like you're not thinking about the end user are you one of the questions one of the questions i've been thinking about a lot recently is um matt ridley who wrote the rational rationalist his progress is two ideas having sex with each other which but basically what this morning wait no but whatever what picnic is is two ideas having sex with each other it's working it's the low value of of you know the it's the look of premium the beast with two backs yeah yeah no but it is but that's what that is working i think lucky saint having sex with whoop oh my god no but as in lucky saint the reason whoops working is because more people less people are drinking yeah less people of drinking means uh they're because you know if you drink and you've got a whoop on you know how much it wrecks your sleep uh well i i don't need a whoop to tell me how much my sleep is ruined by drink but yeah yeah yeah they do basically my friends who put a whoop on they're like they have two pints yeah and they're thinking and this is even the week i'm not sleeping it's like they're on a red straight away so it all those midweek pints what we were talking about earlier they're all on to lucky state now because they're like i need to get up yeah exactly so it's like those things i think what you said there of like the low value in retailers that it needs to look low value well why not combine that idea with the idea of premium premiumization obviously because it's their premium thing exactly yeah so but and again you know there's so many arguments for or against this yeah but it only takes one person to break the rules of to fuck up the party for everyone else um and picnic have done that you know so and very successfully so i think i think what works for me in category redesign which is what we were talking about earlier which is adding value to the category what works for me is

2:32:04thinking about how you can make life more rewarding for the consumer in some way shape or form and that's the easiest way you know just ask yourself does this make the consumer's life more rewarding or not how do you it's you haven't done anything clever the final thing to wrap this up is a bit i've loved this mate it's probably about 12 o 'clock the consumer pieces so how do you how do you make decisions with the consumer's best interest without using consumer research well i'm not saying we don't use consumer research that would be insane i think we go looking for insights so the other day there's a brand that we're working with um and our hunch was it was very hard to pronounce the brand name so if it's very hard to pronounce your brand name um how are you going to get them to go to you know how you're going to tell them hello go and go and buy yeah oh hello mate i just tried the other day yeah yeah yeah yeah you really love oh it's the one with the spots on it yeah so we went out down the road here evie uh and and carrie and the team went out and just basically with iphones held up the brand name and said could you just tell us could you just pronounce it and actually they came back and that wasn't the problem you know they could pronounce it they just couldn't remember it and the reason they couldn't remember it was because it's a foreign sounding name and it's not a familiar name it was too different wasn't familiar so what happened also was that because the brand had done a really good job of making the rest of the in this case packaging very standout and really really strong everyone recognized the design the the pattern oh the you know the stripy one yeah I love that.

2:33:54What's it called? Don't know. So, oh, with a stripy brand. Well, hello, Mr. Competitor. I'll just make our stripy. Oh, fuck. That's not insulated, is it? We haven't got a brand name. What are you selling to the next person? Who's going to buy when you go to that Hula and Loki conference? Hello, we've got a brand. It's worth a load of money. It's dotty. It's spotty or it's curly or whatever. You're not going to rely on that. You're not going to invest 200 million quid in taking a risk on a patent that you can't protect. But if it's a name, if I said to you Mutti Tomatoes, or if I said to you Peroni, no one says Nastra Zoro.

2:34:42They go Peroni, but they know the brand name. So the point is you've got to build a brand, which is something that people can actually identify and navigate towards and direct others to. Yes, that's what Seth Godin says. He was talking about how to wrap a story around a brand. And he was saying ideas are spread. So you basically create your product, you wrap a story around it. You then have the way ideas spread are status, affiliation and fear. so if a brand should give you status and connection so you know i put on my nike gym shorts i feel status and connection that i'm gonna have a fucking banging workout versus my lonsdale ones from you know uh sports direct massive different feelings i get status connection i then tell my friends about it they said where brands can get muddled is they they complicate the bit like the name yeah and it's all yeah this person may fucking love whatever that product is but they can't remember the name so the idea the story can't spread and you can't move along the curve like the rucksacks that have unpronounceable names with a circular logo i still can't pronounce but call sort of fjallraven or whatever you couldn't say fjord you know earlier so i think sometimes that difficult to say can be an advantage and sometimes it can't because you know like goo oh that that was a great brand name obviously but you know it was a great brand name because it and the two dots yeah yeah visual umlauts but but in germany it's not pronounced goo it's you know it's umlaut sorry i can't remember but anyway the point is is that it's weird enough it's different enough but familiar uh but but people struggled at the beginning in the middle yeah but it meant something but in english the word if i said to you goo you wouldn't know how to write it g you were like you just got a goo like g double o you know so when i say oh people say what have you ever done this and you go all right bloody goo you know and they go oh god i love that brand yeah and so but they might be thinking g double o and then they see it oh goo is that how you pronounce it so that's that was a pretty lucky strike that one oh there's a brand um but uh the old toasted fags lucky strike so So I think brands that can be, that are, you know, again, back to this, what's the value is like, can I, can I associate that brand name with a whole bunch of stuff instantly?

2:37:14And do I get it? Do I want it? Can I share it? You know, those are the things that you need to measure. It works because they just get it and they can say it and they can, but it's weird enough. yeah i love seth so much he's got so much genius to be he has so many brilliant things to say but you know is it a purple cow you know is it enough is it odd enough to get familiar enough as well that's exactly so i remember one of his great talks he said um about marketing said look there was a town in the middle of bloody nowhere um in america you know and there's some marketeer consultant idiot like me was you know brought in saying how can we put the town on the map you know what do we need to do and uh i remember seth saying i think if the consultant had said build a 60 foot high lava lamp and people will show up you know just because there's nothing else you know just build a fucking massive lava lamp in the middle that doesn't work for bright you know you've seen the thing they put up in brighton does it not no no there's like an air it's like brighton's equivalent of the london eye me and my mates said this out of it it's like it's like this totemic kind of spaceship thing i'm like you can't polish it right back to the lava lamp yeah back to the lava lamp though but you know basically you know something that's remarkable it might not even make sense but it's got to be remarkable yes that gets you gets gets into your head you go wow that is that is odd but i can somehow i'm familiar with it so I went to Seville the other day to see my daughter who's learning Spanish out there and we went to the Cetas, I don't know if you've been to Seville, oh my god, Seville's amazing My parents said it's fucking banging Seville's one, everyone should go to Seville before they die you know, before they die, like not to die, they should go to Seville but there's a place called the Cetas and they've built this insane wooden building and it's just indescribably beautiful and it's just uh the setas to civil and it was it was literally built just just for the reason of something being interesting for people to go to and honestly it makes no sense whatsoever but it's incredible and you go up it in a lift and you walk around this wooden structure and you just go what the fuck this is a viewing platform but in itself is an extraordinary thing of beauty it's a sort of feat of bizarre architectural genius they did this 300 you know 180 show that you sort of sit at the top and the whole thing is just wonderful and i i said you know this is the lava lamp this is this is seville's lava lamp you know seville didn't need that they had all this amazing cathedral and palace and it's architecturally just stunning it's the most beautiful city but yet someone went in rather like the louvre and the and the pyramid and said you know why don't we create a modern version of our you know of our kind of cathedral why don't we create something that is going to take this part of the city you know and get people to come here and that's the same with brands it's got to be remark worthy if it's not worthy of remark it's bland so bland so i interviewed the guy will store the other week and wrote you i need you need to read his books mate so you've got a book called the status game the science of storytelling and selfie how the West became self-obsessed.

2:40:38Oh, fucking hell. Really interesting guy. My reading list. He actually co-wrote a book called The Blandemic, and it's all about architecture. You'll love it. All about architecture. And he was basically saying, why is all the architecture in the world right now so bland? Totally agree. So bland. And he goes around with a guy, the guy's name's escaping. Does he know why? No, yes, he goes around with a guy, I'll tell you. He goes around with a guy who did, he designed the London bus. He designed, you know, the new London bus. Oh, the new one? Relatively new. Yeah, yeah. Not like the old Rootmasters legendary.

2:41:10He did Coal Drops Yard in King's Cross. Okay. He did. Where Google and Smartens are. Yeah, Google Office. And he basically said that the issue is, and this is true with Challenger Brands, it's the blandemic. I love that. Why do brands look the same? Same in architecture, same in Michelin-style food. And it's basically what it is, is that these architects are getting the, architects are making, um designing buildings to impress other architects yes not the consumer and so basically what's happened is you've got all the buildings all these fucking every building is these square blocks all look the same because they're they're they're like well i get status from showing the other architects what i've won an award look at me and this this guy's basically gone against grain apparently everyone hates him in architecture this kind of the guy's name is scary they did cold drops yard um it's not the big guy that firm called big i don't know the names escape me there is a similar there's a there's an architect uh an architecture practice in the i think it might be in norway or sweden or one of those and it's called i think it's called big and they did this insanely brilliant thing where they completely don't adhere to that That's a rule of planification.

2:42:23And I think it's on like a power station. And they built this power station and it's got a sloped roof like this. Where's the story? A massive chimney. I think it's in Norway or Sweden. My memory is shit, but I'll find it. And anyway, it's got this massive chimney because it's a power plant. And the chimney blows smoke rings. That's the first thing. and the top is a ski slip artificial ski slip sick and you know and he's done living buildings and stuff like that and you know it doesn't look it doesn't look like anything you've seen before and it's exactly that point which is everyone wants to be the same i'm sorry everyone wants to be different just like everyone else yeah which means they're not but also i think the way the way the blandemic spreads into food and drink is for example uh i always talk about this analogy but it's like that the blandemic is yes right yeah yeah the way you can create you know bland aside or commit bland aside is that you go and look at your category to to innovate and actually by looking at your category you've then just created a carbon copy of so protein bars for example every protein bar looks kind of similar because they've got to look at the category and okay well let's make this ever so slightly one percent different well it actually looks the same what they should probably have done is gone and looked at those that place in seville or gone and looked at a bit like with this going okay let's get a new drink let's go and jump in finish fucking fords yeah exactly you still got to say it yeah yeah we'll have some fjord training for you so yeah i think you know my wrap up on that would be that there is no right or wrong it just depends what you want to achieve and therefore start with that first question just why the hell am i doing this you know what do i want out of it uh right back to where we became uh started the conversation which is what's my end game here or certainly what's the end game for me and what do i want to pass on to the next person because this is a this is once you start you can't stop you know pringles whatever it was uh you you've got to you've got to imagine where it is that you feel you want to get to by when look back like libby says and say you know in 10 years time or five years time i want to be able to say this i want to stand up at the company meeting and then thank everyone for getting us to where we want to go and say look what we achieved next year and if you if you want to be a mimic and you want to say i want to be the third mouse not the second mouse or the first mouse and you know the first mouse gets caught in the trap kills the second mouse gets the cheese you know and if you want to come along and you know be the third mouse you know fine do whatever it is you want to do and mimicry is a great way of following leaders and you maybe want to surf in the way of the category it's not that it's wrong it's just that it's not particularly relevant to certain types of brands and and the stages that we tend to talk about it's not it's not a particularly good way to change a category because you know why would you change a category if you're doing the same thing you're not changing the category so you're probably unlikely to have a particularly successful business if you're not adding value to something like a category so yeah i think perspectives it's it's all about your motivation it's hence to that very first question is what is it that you want personally as a founder to achieve from this and how you know how do you want this to end up and you know that's pretty true of pretty much everything in life isn't it if you don't know where you're going or where you want to get to any path will get you there it's tom's you know brilliant book about digital darwinism about you know the startup mentality that we always bang on about about what sorry what is this digital darwinism digital darwinism is the book that i mentioned from tom goodwin which is uh you know it's one of the great books around looking back at the history of our digital evolution and you know rather sort of the play on words of you know darwin yeah and the evolution of man and species that's why i i kind of think it's quite similar to you how i know her harari's sapiens you know the wonderful story of how we became uh where we are today as as intelligent men uh as humans um so i think back to this question of you know where if you would start again today your life or your category your business or whatever what would you do differently and why and and the joke that tom starts with in his book which is you know someone in uh i in fact he chooses ireland for this joke you know someone's driving through the island and they stop and there's a chap you know island as in the irish yeah yeah um and he stops he winds down his window and he says you know could you could you tell me the way to dublin and the guy says i wouldn't start from here and it's a great uh it's great it's a great thing isn't it it's a brilliant question you know where would you start if you could start again and why differently what would you do differently and so that is the fundamental thing that anyone listening to your podcast who is you know still i think you you know, you're talking to founders and entrepreneurs.

2:47:24Do they know where they want to go to? And have they got a clear idea of why they're doing what they're doing? And if so, answer that question first before you answer the next question, which is, who are you making this for? Who are you working on behalf of? Who are your consumers? And why do you want to help? What is it about their lives that you are going to make better by doing what it is that you do? and once you know that is you know what do you want those people to think feel and say that that makes you the only person in their life the only brand in their life that's right for them you know not just the best but the only and how once you know that how are you going to make them think feel and say and do those things because you know you could try lots of different things and probably some will work and some won't but if you don't have a clear strategy you're going to end up wasting all your time doing everything really badly and not doing one thing well so focus and then the last thing is which is coming back to the full loop of the first question is what metric what one or two or three metrics are you going to use to know whether it's working or not and that's this question that i said at the beginning which is you know how's business or how big is your business and if you think it's about the number of people you want to employ because you just want to be you know an altruistic business it's for the people by the people and it's sort of almost kind of quasi social capitalism whatever great if you want to restore the soils and you know it's a means to an end and you're not you know you're going to power your money back into that then great if you're a farmer and you want to build a farm for the next generation great if you're a you know a big money-making super capitalist you just want to buy your fine you know it's knowing what you want as a measure for success and that is it that's it mate as always that's probably my favorite one we've done i absolutely fucking love that i think there's just endless the meandering thank you so so much for listening to the podcast i really really do appreciate it if you like that episode only if you liked it please do give it five stars subscribe tell all your friends families foes next door but one cat dog whatever please tell everyone about this podcast it means the world to me and i really want to understand what your pain points are as the new wave of challenger food and drink brands please do hit me up on linkedin search dan pope and hopefully we can together create a more meaningful and powerful podcast for the next wave of challenger food and drink brands thank you so much

2:50:11you

From the publisher

Behind every single brand in your cupboard is one man

One man and his amazing team of big fish

Big Fish created the biggest food and drink brands of all time

You’ll see and chomp and demolish and love these food and drink brands all the time

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Perry Haydn Taylor is someone I’ll happily wander through the Wax Lyrical Woods with for hours and hours. With lashings of good ol’ merry and chortle for good measure.

We talk about foo and brands and creativity and the relentless pursuit of better

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This time we take it up a level up a level and talk about how to ACTUALLY exit for serious dough

ON THE MENU:

  1. Why Food and Drink Founders must avoid the danger of tennis ball syndrome and chasing too many things all at once
  2. The Parallels of Mullets coming back into Fashion & the Plant Based Movement Taking Off
  3. Back from the Future “3 Levers” to pull to sell your brand for serious dough: The Symphony of Commercials, Operations, Marketing
  4. Think about the retailer as much as the consumer: How much does it cost retailer to put product on shelf? Think about their business FIRST.
  5. Why Creating a Tomato Juice Challenger Brand is Stupid: A Hard Truth in the what's the Sizeable Market
  6. The Taylor Swiftification of Brand Building: Not every founder/brand can, and should try and be Taylor Swift
  7. Unpacking Digital Darwinism and the Nudge theory in spreading food and drink ideas
  8. The Prudent Path to the BIG Exit: constantly ask one simple “does this add to the category”
  9. Why Every Category Can Be Premiumised until it becomes a Symbol of Reevaluation a la Adam Morgan
  10. Three Trick Questions Founders Should Constantly BeAsking Themselves: What works and what doesn't work + how big is your business + how do we scale our marketing?

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