The Empire Builders Podcast

By: Stephen Semple and David Young
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  • Summary

  • Reverse engineering the success of established business empires.
    The Empire Builders Podcast
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Economics Leadership Management Marketing
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Episodes
  • #178: Spin Master – Yep, The Toy Company

    #178: Spin Master – Yep, The Toy Company
    Nov 6 2024
    Going from public domain toys to Spin Master Originals was a must. How did Harari, Rabi and Verity do it? It wasn't with the devil sticks. Dave Young: Welcome to the Empire Builders podcast, teaching business owners the not-so-secret techniques that took famous businesses from mom and pop to major brands. Stephen Simple is a marketing consultant, story collector, and storyteller. I'm Stephen's sidekick and business partner, Dave Young. Before we get into today's episode, a word from our sponsor, which is, well, it's us, but we're highlighting ads we've written and produced for our clients. Here's one of those. [Seaside Plumbing Ad] Dave Young: Welcome back to the Empire Builders podcast recording live this morning from the North Patio at the Wizard Academy classroom tower. Stephen Semple: I always get turned around. So this is north, is it? Dave Young: That's north. Stephen Semple: Okay. All right. I always get turned around here. Dave Young: The causeway, the ditch thing that runs- Stephen Semple: Oh, right. Of course. That's east-west, of course. Dave Young: No, that's north-south. Stephen Semple: Oh, right. Dave Young: North-South. Stephen Semple: Right. Dave Young: If you stand in the middle of it and look up, you can see the North Star over the, and so we're on the other side. Stephen Semple: Right. Of course we are. Okay. Dave Young: Yeah. Stephen Semple: I always get turned around. Dave Young: Yeah, that's okay. Stephen Semple: Okay. Dave Young: It has taken me a while. Anyway, we're recording a podcast. Stephen Semple: Yes. We talk. Dave Young: And we're sitting outdoors. And just as I was hitting the record button, you said Spin Master. Stephen Semple: Spin Master. Dave Young: This is an exercise bike. Stephen Semple: Toy company. Dave Young: Toy company. What am I thinking, spin cycle? First of all, I don't play with toys and I don't ride exercise bikes, so I'm at a loss. Stephen Semple: They're best known for Paw Patrol. And you wouldn't know about that either 'cause you don't have any little kids in your life. Dave Young: No, my little- Stephen Semple: Anybody who's got little kids in their life know Paw Patrol. Dave Young: All right. Well, I am all ears. Stephen Semple: Give you an idea how big the Paw Patrol franchise is, 14 billion. Dave Young: Wait. 14 billion? Stephen Semple: Billion in sales when you add all their stuff up. Dave Young: Wow. Okay. Stephen Semple: Yeah. Dave Young: And these are toys? Stephen Semple: Yes. Dave Young: Okay. Stephen Semple: They are toys and they are a Canadian company, and my niece used to work for them. Dave Young: Really? Stephen Semple: Yes. Dave Young: Okay. Stephen Semple: This was actually a little extra fun to do. Dave Young: Some insider info. Stephen Semple: Yeah. Well, not really, but yeah, they're a Canadian company in quite a little success store. Dave Young: Little, yeah. Stephen Semple: Then we'll talk about later, they also went on to have bought some other brands such as Rubik's Cube. They now own Rubik's Cube. Dave Young: All right. Stephen Semple: Yeah. It was founded by Ronan Harari, Antoine Rabi and Ben Verity. They started the business in the late 1990s. And around that time, patterns of play does not change. Dave Young: Okay. Stephen Semple: Toys may change, way kids play with things, the way even adults play with things don't change. And so the key is to find things that fit into those play patterns. That idea has basically led this company to be one of the greatest success stories in the toy space in the last 20 years. Yeah. And this whole idea, the key to find things that fit in those play patterns basically led to the creation of Paw Patrol,
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    19 mins
  • #177: Lip Bar – All Natural Happy Place

    #177: Lip Bar – All Natural Happy Place
    Oct 30 2024
    This is how you go from not wanting to be unhappy to working your passion to Shark Tank to Lipstick Empire. Way to go, Melissa Butler. Dave Young: Welcome to the Empire Builders Podcast, teaching business owners the not-so-secret techniques that took famous businesses from mom-and-pop to major brands. Stephen Semple is a marketing consultant, story collector, and storyteller. I'm Stephen's sidekick and business partner, Dave Young. Before we get into today's episode, a word from our sponsor, which is ... well, it's us. But we're highlighting ads we've written and produced for our clients. So here's one of those. [No Bull RV Ad] Dave Young: Welcome to the Empire Builders Podcast. Dave Young here along with Stephen Semple. And today you may say, gosh, they sound a little different. And maybe I hear birds or- Stephen Semple: We have no idea what these mics are picking up. Dave Young: We don't know what you're going to hear, but we're sitting outdoors. We're sitting on the north patio of the dining hall in the tower at Wizard Academy in Austin, Texas. And for the first time in, I don't know if we've done this before or we've recorded a podcast face-to-face in the same room. Stephen Semple: I don't think we have. Dave Young: We're always on some either Zoom or Riverside FM or some magical internet based thing. Stephen Semple: Yeah, no, I don't think we've done in person. I don't think so. Dave Young: Well, welcome to my world here. We're at Wizard Academy. I'm the vice chancellor, by the way, and also one of Stephen's business partners with Wizard of Ads. And you're here to teach a class this week. Stephen Semple: Yes. Dave Young: Which is exciting. Stephen Semple: Very exciting. Dave Young: I don't know if people are going to hear this long after the fact. Stephen Semple: Yes. But we're going to do it again. Dave Young: We're glad that you're here and excited about the class. Stephen Semple: Yes, yes. It's going to be very exciting. How to market professional services, so it's going to be awesome. Dave Young: It's going to be fun. I didn't even ask you as I started the countdown, what the topic is. Stephen Semple: I know. Because we're used to the countdown thing being on the screen. Dave Young: My countdown was, I'm just going to hit the go button and see if this is sticking to the tape. I think it is. Stephen Semple: We're going to lean into a category you know really well. Lipstick. Dave Young: Lipstick? Is there a particular brand? Stephen Semple: Yes. Lip Bar. Dave Young: Lip Bar? I'm a total blank. Stephen Semple: Well, they've done pretty well. Lipstick's a huge market. Lipstick itself is a $9 billion business. Dave Young: Trust me, we wash a lot of it off of wine glasses here. Stephen Semple: But Lip Bar was founded by Melissa Butler, and today they're in like 500 stores, Target and things along that line. They're a private company, so I had a really hard time finding actual sales figures for them. But when you're in 500 stores and growing, you're making things happen. Dave Young: Mm-hmm. Stephen Semple: Yeah. Dave Young: 500 stores. Stephen Semple: But what was really cool about learning this story is Melissa Butler started making her own lipstick in her apartment. Dave Young: Really? Stephen Semple: That's how this all started. Dave Young: I'm trying to think of how, if I set out ... First of all, I'm not going to, but if I set out to make lipstick, what would I even .... like what's on my shopping list? Stephen Semple: Oh, you're melting waxes and you're getting color agents and you're pouring it into tins and you're having to cure the tins and then you're having to get it out of the tins and into the packaging. It's quite a process. Dave Young: Do I have to go kill a whale? Stephen Semple:
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    23 mins
  • #176: Mars – Part 2 – The Best Chocolate Union

    #176: Mars – Part 2 – The Best Chocolate Union
    Oct 23 2024
    When you need the chocolate you find creative ways to make the deal work. See the best of both worlds. Dave Young: Welcome to the Empire Builders podcast, teaching business owners the not-so-secret techniques that took famous businesses from Mom and Pop to major brands. Stephen Semple is a marketing consultant, story collector and storyteller. I'm Stephen's sidekick and business partner Dave Young. Before we get into today's episode, a word from our sponsor, which is, well, it's us, but we're highlighting ads we've written and produced for our clients. So here's one of those. [ASAP Commercial Doors Ad] Stephen Semple: Welcome to part two of the Mars episode. If you haven't listened to the first part, I suggest you go back and give it a listen because those are really the early days of Mars. But the Mars story was so interesting we had to break it into two parts, and there's some really fun and surprising things that are going to happen in Phase 2 of this story. The Mars Bar was this big success. He's now had a couple failures. He needs a success. It's 1934. His father, Franklyn, passes away. Dave Young: Okay. Stephen Semple: At the age of 50, and the future of the company in the U.S. is now in doubt, and there's a small number of shares go to Forrest. But most of the shares go to his stepmother who does not like Forrest. Dave Young: Ouch. Okay. Stephen Semple: Forrest is pissed. And basically he decides that what he needs to do is just go on a vacation and cool off. So he takes a vacation to Spain, and he saw these chocolate candies made by Rowntree that are called Smarties. Dave Young: Um, okay. Stephen Semple: That don't melt, and he had never saw a candy coating on chocolate. So he decides to take Smarties to America. He returns to the U.S., leaves the UK company in the hands of the number two, but he needs a supply of milk chocolate. And where does he need to get that is Hershey's. Dave Young: Okay. Stephen Semple: But he's brand new. Hershey's is not super interested in doing it. So what he does is he knows the president of Hershey's. His son Murray, is never going to make it in the Hershey's business. So he offers Murray. He says, "Hey, you guys, sell me this chocolate. I'll make Murray, I'll give him an executive position plus 20% of the company." Dave Young: Wow. Okay. Stephen Semple: So they go, done. Murray's now set up. Dave Young: Murray's out of our hair. Stephen Semple: Murray's out of our hair. Dave Young: Not our problem anymore. Stephen Semple: What they do is they create this candy based upon Smarties. Dave Young: Wait a minute, wait a minute. Murray? Stephen Semple: Murray. Dave Young: Mars. Stephen Semple: Mars. Dave Young: MM. And the candy-coated chocolate? Stephen Semple: Is M&M's. Dave Young: M&M's, yeah. Oh, wow. So it was the son of Mars and the son of Hershey's. Stephen Semple: Yes. Dave Young: Who knew? Stephen Semple: Right. Dave Young: That's amazing. Stephen Semple: So they need to build a factory and they want to make it stand out. So how they first package M&M's is instead of in a little bag, remember where they used to always come in a tube? Dave Young: Oh, I remember them coming in a tube, but not in my childhood. That was sort of a theater thing later on. Stephen Semple: But that's how they first came was in a cardboard tube. That was how they first came. Dave Young: Oh. You know, I kind of do remember that with like a folded wadded piece of paper at the end to hold it shut, yeah. Okay. Stephen Semple: Yeah, it was first in this... In Canada I remember them with a little plastic thing on the end, but yeah, they're originally in the tube. So it's 1941. War breaks out in the United States. Factories all across, all industries are dedicated to the war effort.
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    16 mins

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