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you've had a lot of controversy over the last two years bullying lying unfair dismissals all of this stuff what'd you
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say to that i did i did push people too far
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how fast did brudog grow we have grown on average 87 percent a year [ __ ] you know everyone told us make your beer
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cheaper change your name change your packaging and we didn't listen to any of that how can we get our name out there
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with no money at all so we had to do things that were intentionally provocative and sometimes we can across that edge as well
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the best entrepreneurs have got to find a way to do things differently to how other people are doing things we've got
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two very simple tests that we apply to everything that we do so the first test is
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this is the worst public health crisis for a generation i've only ever
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been in tears once in my job and i broke down in tears addressing our team in march of
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2020 thinking that we're not going to be able to pay you we're not going to be able to keep you in a job
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i think people don't realize like being a ceo is a very very lonely job at times [Music]
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that day talk me through what it's like to be a ceo when 300 people sign a letter making
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these allegations about toxic workplace culture unfair dismissals all of this stuff
00:01:20
so without further ado i'm stephen bartlett and this is the diary of a ceo i hope nobody's listening
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but if you are then please keep this to yourself [Music]
00:01:36
james what is the you've listened to this podcast before so you know i have a theme of where i start i'm like trying
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to frame as a surprise that i'm going to start with your childhood but um first thank you for being here it's
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um you know it's always lovely to hear that people are um guests that we have and also kind of understand the format
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where i wanted to to start with you is to take you right back because that for me is always the context of of somebody
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so when you when you look back and when i read back at your early years in that small fishing community you grew up in
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um was it garden stone yeah garden stone up in the northeast of scotland when you when you look back yourself at the
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foundational shaping um pivotal events of like those early years that are
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responsible for who you became in your life the first events that you look back and go that's the first dot i can
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connect what are those i think there's i think there's a few so grew up in a tiny fishing village
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northeast of scotland my dad was a fisherman my mum was a school teacher and being a fisherman is tough and i
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just remember like the kind of hard work ethic instilled from my grandparent who was a grandfather who was also fisherman
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my dad who was a fisherman so kind of really hard working really honest kind of salt of the earth type character but
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then he was always away and i'd be at home with my mom and my relationship with my mum was was never that good and
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i think i struggled a lot when i was when i was a kid um i had quite a severe speech
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impediment when i was when i was growing up and and this is something i haven't spoken about before so
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um so that kind of always made me a little bit of an outsider a little bit of a loner always felt a bit socially awkward as i
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grew up and became a bit older i had quite severe acne so again outsider loner socially awkward and i think it's
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a trait that a lot of entrepreneurs have in common they're a bit socially awkward and i think if you're less likely to read social cues then you're less likely
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to do the same thing as everyone else which in business is amazing um and also a bit of a inadequacy
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complex when i was a kid as well so kind of mum's standards were quite high so whatever i did wasn't good enough 98 in
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the test why wasn't a hundred when uh someone competition why did i win it with an even better times like any
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achievement wasn't quite good enough so we're going up a bit of a loner bit of an outsider a bit of a kind of
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inadequacy complex as well which i think from a business perspective those things combined are good but
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made it kind of quite tough for me at certain stages of my childhood on that point of i can relate a lot a lot to a
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lot of that um especially the the i the thought of feeling a bit like an outsider feeling
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somewhat different were you bullied in school a little bit i mean the speech impediment was something that all the kids love to make make fun of and then
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the kind of acne that i had that was quite severe in high school was something that like has made fun of as well which just kind of makes you feel
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even more like an outsider when you're growing up i guess speech impediment yeah when i was like four five six seven
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eight there was like certain words and certain letters that i just couldn't say and i kind of worked really hard with a speech therapist and got there but for a
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few years it was a lot of words i couldn't say and because of that i just wouldn't speak to people because i was scared to let them see that i had a
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speech impediment so very quiet very insular like spending time by myself and that kind of shaped a lot of my early
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childhood i would say when you said that you think entrepreneurs have that trait in common where they somewhat feel like outsiders
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why do you think that's a common trait in entrepreneurs for me the best entrepreneurs they've got to see things differently they've
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got to find a way to do things differently to how other people are doing things so if you go and do the same as everyone else you're just going
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to get the same outcome as everyone else and if you start off a business that way you're just going to get lost in the mix and i think 90 percent of small
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businesses fail within the first two years so i think outsized returns or doing
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something amazing with the business only comes when you bet in some way against the conventional wisdom and if you're
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not tied to the conventional wisdom or tied to social cues i think you're more likely to see that and there's a quote
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that i love which is if 99 people think you are wrong you're either massively
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mistaken or about to make history so it's just that maybe not caring too much what people
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think and finding your own way to do things and finding your own way to come out of business an opportunity or a problem and i think if you're a bit of
00:05:38
an outsider it maybe helps with that you mentioned your mum as well yeah i mean my relationship with my mum
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was was always quite tough so nothing nothing was ever good enough for her mum when i was a kid and had a few
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issues later and i haven't spoke to my mum for over 20 years now really yeah
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since you were in your teens yeah in 1920s when i stopped speaking to mum did you ever
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because sometimes when i think about you know my own parents i with with age i've built a bit of um i
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guess empathy towards why they are the way they are you know and you kind of when you grow a
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little bit older you understand the world a bit better in psychology but you go well maybe that's why they were the way they are have you thought about that
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with your mother yeah i definitely have thought about it and uh it's something i continue to think about
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there was just a lot of kind of challenging things when i was a kid and when i was in my teens that i think it made it difficult for us to have a
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relationship and for me it's it's easier just not to not have contact with her which
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which is tough but i've got a fantastic relationship with my dad and my rest of the family and it's been that way for a long time now did that have an impact on
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you that that sort of really tough feedback that you could you were never enough for that your work was never
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enough possibly but i think it just i think it gives you a bit of a
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inadequacy inferiority complex which i think has kind of been with me for it for a long time
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and there's ways to to numb it so can numb it can numb that voice in my head that's like
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never been good enough not good enough can numb it with a business achievement with like doing a thing with a book
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launch that goes well so you get that almost temporary escape from that
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feeling by doing something that can be measured objectively like succeeding in business
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use the word temporary though
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it's always there and i think a chip in your shoulder in terms of like motivation is is quite a powerful thing to have
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but it's that kind of saying it's like everywhere you go there you are it's kind of always always there at a certain
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extent your dad he he sounds like he was a very um hard-working
00:07:49
individual he he was indeed i mean still to this day he's in his late 60s he's a lobster fisherman which is a kind of
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tough intense i've seen the early job every single day regardless of
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the weather in the north atlantic he's like pretty much out in his lobster fishing boat so yeah very focused on work and that work
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ethic that determination i think a bitcoin resilience as well so i spent actually
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six years with my dad on the north atlantic before i set up the business so i studied law and economics at university i got a job in a legal office
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i quit after two weeks so i sat there in a cheap suit doing glorified admin and i was like this is just not how i want to
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spend my life i don't want to stay in this office and i saw myself like being maybe 40 50 years in the future kind of
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retired and sitting in that same office in a suit and stuff i was like this is just not for me so i spent four years
00:08:39
studying to do a job for two weeks i quit and did something completely opposite so i got a job in the fishing boat and when i was doing that i went to
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nautical college part time i became a first mate i became a qualified captain and i kind of cut my teeth in the high
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seas in the north atlantic and i think it taught me so much about resilience about teamwork about
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adversity what did you what did you what did you learn then sort of it practically inactionably what did you
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learn from was it five years roughly you spent on that boat yeah so you come out of university you try it out as a lawyer
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you're working in laws for for two weeks yeah then you go and join your dad yeah and eventually you work you up to being
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captain on that boat yeah and you're on a trawler in the north atlantic yeah which is
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a stupid thing to do if you're me and you're as big of a coward as i am going
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out on those seas i've seen the documentaries is it like the documentaries yeah it's very much like those documentaries some of those were
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made in my homeport up in scotland and i know some of the people that were on some of those boats so i mean very much like that the north atlantic in january
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and february is a pretty scary place what did you learn from doing that about life in people
00:09:44
i think the main lesson that i learned is and it's when i've applied to the
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business as well you only really see what someone's made of when things are difficult
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it's only when things are going wrong it's maybe a first-hand storm you're trying to get
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the net back in the boat it's dangerous it's early it's two o'clock in the morning and everyone's been up for 24
00:10:05
hours it's at those times that you really see what someone's made of and i think that's something you can take to business as well
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when everything's going well it's easy for everyone in your team to look like a superstar it's only when things are really really difficult that you see who
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can you depend on and i've almost got this test that i use when i'm building my management team and we've got an
00:10:23
amazing management team at the moment but the test is would i want to be in the deck of a north atlantic fishing boat at two in the morning in a storm
00:10:30
with everything going wrong with this person by my side and if the answer is yes it's usually kind of bodes well for how
00:10:37
we work together and how we look to build build the business together and on in that example of what i want to be on this on the deck with them at 2am in the
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morning when everything's going wrong what other character traits which would
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make someone in that situation a good person to be with on that deck yeah there's something called the
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stockdale paradox that i think is is really important and kind of ties into this so james stockdale was
00:11:01
an american naval captain who was no prisoner of war camp for six years and uh it's actually in the book good to
00:11:07
see by jim collins which is a fantastic business book and he's got a philosophy which is you've got to confront the brutal facts
00:11:13
of your current reality without ever losing faith that you're going to prevail in the end and i think it's just such an important lesson for life and
00:11:20
business you've got to believe that you're going to get there in the end but that belief can't blind you from
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tackling the most difficult things about your current reality head-on with resolve with optimism but you've
00:11:31
got to kind of hold that paradox in your in your hand we're going to get there we're going to achieve this thing but we've got these huge challenges at the
00:11:37
moment let's lean into those challenges and i often start my business meetings with my senior team in the very same way
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okay let's put the agenda at the side let's everyone write down a piece of paper what's the three most difficult things you're facing in this business at
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the moment and let's discuss those before we discuss anything else and why is that important because it means you face into the
00:11:57
problems and the challenges and i think it's so easy for a business especially a business like ours we've always got so many exciting projects at the moment
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we're opening a fantastic location on the strip in las vegas we're opening um 20 plus locations in india we've got
00:12:10
a fantastic location opening in waterloo station so it's so easy to get caught up in the excitement of those things
00:12:15
and everyone wants to speak about the exciting things but you've got to balance that with okay we've got these challenges at the moment
00:12:21
and how we lean into those challenges how we tackle those challenges is what to a large extent it's going to
00:12:26
determine our destiny so we need to make sure that's why else we're focused and exciting things and what we want to achieve we're focusing on the really
00:12:32
tough things we're facing in a day-to-day basis as well interesting i might steal that
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but i stole it as well steal the thing did i say that out loud
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i thought i was thinking it um yeah so i um you're right because there's always kind
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of an elephant in the room at companies where many individuals in the room will know that there's certain challenges and
00:12:54
issues especially in the leadership team they'll have the clearest idea of what those are but sometimes they're quite uncomfortable to
00:13:00
talk about right they are the things that are least enjoyable to commit brain time and power and resources too so
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i guess that's a very smart way you you spent you spent five years on this boat yeah which was a really great you know
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brave thing to do in my in my estimation your captain of the boat
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yeah i spent a bit of time with captain in the boat with my guys why why did you leave that that role
00:13:25
well i didn't i didn't quite leave it so um martin who's my best friend from from high school we go way back we're taking
00:13:31
mates yeah martin dickey we're flatmates at university together we started making beers at home and so in martin's mom's garage we would
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make beer and we started to get into beer when we tasted an american beer called sierra nevada pale ale we tasted
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it it was like wow we love this so we would dedicate our weekends to kind of trying to recreate that in martin's mum's garbage and in 2007
00:13:51
we'd always wanted to start a business we decided to turn our hobby into a job so we we got a 20 000 pound bank loan i
00:13:58
had 30 000 pounds of life savings and we decided to set up this business we set up in a derelict dystopian industrial
00:14:05
unit in fraserburgh in a god forsaken industrial estate and with no money so it was
00:14:11
beg barter bootleg to kind of set this facility up we had like old dairy tanks
00:14:16
our water tanks were plastic tanks from a local garden center because with no money to buy stainless steel tanks and
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we set out in this slightly naive i think you could call it mission to build one of the world's best beer companies
00:14:28
with that with two humans and a dog no experience no capital no business plan
00:14:34
nothing but just a huge amount of passion for a fantastic beer a huge amount of disillusionment at the status
00:14:40
quo of the beer market which was essentially just big mass market global mega corporations who turned
00:14:47
beer i think that we love in a lowest common denominator comedy commodity product and we wanted to make fantastic
00:14:53
quality beers and opens open people's eyes to this diverse spectrum of flavor taste quality
00:14:59
that they never knew existed and take them on this beauty journey with us and that's what we set out to do in 2007 but
00:15:04
the first the first few years were so so tough what gave you the right to start a beer company
00:15:09
nothing at all you can't make i can't make beer how did you go about educating yourself
00:15:15
and how to make beer so martin studies how to make beer and distilling at university so martin's they're really kind of solid technical
00:15:21
background and he's always kind of taken more of a lead in the beer side the business and i've always kind of been more in the kind of business side the
00:15:27
sales side the market inside the expansion side of the business so yeah first couple of years it was me selling
00:15:33
beer at local farmers markets and selling beer out of the boot my beat up volkswagen golf but we couldn't afford
00:15:39
to pay ourselves so i moved back in with my dad martin moved back in with his mum i had to start working in the fishing
00:15:45
boat again part time just because nobody wanted to buy our beer everyone told us make sure bear cheaper make your
00:15:51
beer with less flavor make your beer with less hops change your name change your packaging
00:15:56
and we didn't listen to any of that i mean we were determined to okay if we're going to fail let's fail doing something
00:16:02
that we love let's fail doing something that we're insanely passionate about and let's just keep going and see if we can
00:16:07
find a way find our breakthrough to somehow make that work and that breakthrough for us came in 2008. and you you described
00:16:15
that period as being one of the toughest of your life that first year
00:16:20
give me a a detailed flavor of the the hardest is there a moment in that period where you you account maybe your hardest
00:16:26
day i think so yeah so we did everything the two of us so it was just the two of us so we did the
00:16:32
accounts we did the sales we made the beer we packaged the beer like the whole thing and we filled bottles by hand so
00:16:38
fill by hand put on a cap by hand putting a label by hand the tanks held about three and a half thousand bottles of beer so that took us kind of 20 hours
00:16:45
to do so we did that and then straight through the night the next day i was kind of okay let's go and see if i
00:16:51
can sell some of this beer so i had a few cases in the back of my car punk ipa which is our flagship here today was that was the beer that we were trying to
00:16:58
sell back then as well i visited six or seven different local establishments and gave them my best sales pitch it's
00:17:04
handmade it's local it's full of flavor everyone said no
00:17:09
the last person and didn't just say no he tasted it and he just spat it back into the pot
00:17:15
and just gave me the bottle back and essentially told me to get out so i remember just walking to the car and
00:17:20
just wondering okay what the hell am i going to tell the bank we've got this loan we can't pay the loan back we can't
00:17:25
pay the rent in the building i've been up for almost 30 hours this is going nowhere like what can we
00:17:31
do to try and get this business to survive and for me that was a that was a very tough moment why didn't you quit
00:17:37
would have been easier i could have just gone back to the boat could have been captain back out on the sea lobsters all that
00:17:44
there was no way we were going to quit why we were we were going to die in a ditch for this thing it's we're just so passionate about it and
00:17:52
back to that inadequacy complex this voice in your head you're not good enough you can't do it if i quit that
00:17:58
voice wins couldn't let that voice win so we kept on going we kept on going and
00:18:03
i think any business story there's a moment where you get a bit of luck where you get a bit of good fortune so
00:18:09
for us that came in 2008 we sent some viewers into a tesco beer competition so this was at a time that we were selling
00:18:15
let's say 10 cases a week at most sent the beer to the tesco beer
00:18:20
competition kind of forgot about it and got back to local farmers markets and all those things a few weeks later i got a phone call from tesco saying that we'd
00:18:28
finished first second third and fourth in this tesco beer competition so it's like okay so i went down to wait is that the same
00:18:35
day that the guy spat out same beard the guy spat out first came first
00:18:40
came first the same there the same same temperature i think so
00:18:45
that's interesting so i went down to went down to chessunt which is where the tesco headquarters
00:18:50
were at the time and met the tesco team and i sat there with my best poker face on is they told me james your beers are
00:18:57
fantastic we want to put these four beers into 500 stores nationwide and we can sell 2 000 cases a week
00:19:03
so i signed a contract to do that without telling them anything at all about the fact this was two guys and one
00:19:09
dog filling bottles by hand and there was no way we could there's no way we could make that order so we had four months to figure out a way to do this so
00:19:15
got back sat down with martin it's like okay we've got this opportunity but we need a plan and we decided okay we need a bottle
00:19:22
machine that's gonna cost us a hundred thousand pounds we need tanks that's gonna cost us fifty thousand pounds so went to the bank which was bank of
00:19:27
scotland who we banked with at that time and this was 2008 so this is when global economy is going into this huge tailspin
00:19:34
and we sat down and like okay let's let's pitch this as hard as we possibly can this is our chance so we told them
00:19:41
about the contract with tesco young up and coming company but we need a hundred thousand pounds for a bottling machine
00:19:46
50 000 pounds for tanks and they just laughed us out of the bank there's like james martin you're not paying your loan
00:19:52
back it's a tough time for bank and there's like no way we can give you this money here so undeterred what we did we went
00:19:59
to the bank that was across the the streets we got an appointment there with hsbc and we said to the guys at hsbc our
00:20:04
bank bank of scotland have just offered us an amazing finance deal in this bottling line in this fermentation tanks
00:20:10
we've got this contract with tesco but if you match this deal we're going to shift all of our banking to you we're
00:20:15
going place as a company we'd love for you to support us and they they gave us the money so business plan year one and
00:20:20
two was make happy american beers and tell lies to banks are they still are they still your bank they are still our
00:20:26
bank to this very well doing that um i waited ten years until i told them
00:20:31
until i told them the truth i thought there's like a safe amount of time they're not going to take the money back uh we got we got the bottle machine in
00:20:36
we got the tanks in uh the first beers came off the bottom line two weeks before they were due to go into tesco
00:20:42
and we got the beers in the tesco they sold okay year one year two they sold a bit better and we were able to kind of start
00:20:48
building our business from there that gave us a foothold and at the end of 2009 i was able to quit being a part-time fisherman and just focus 100
00:20:54
percent by 2009 end of 2009 two years two and a half years wow and so that that
00:21:00
that first year where they're selling okay and in the second year but they're selling much better yeah what was the causal factor of that sales increase
00:21:06
that started to get the thing get things moving was it word of mouth was it marketing was it it was it was community
00:21:12
so one of the most important things in the history of our business has been community so it got to it got to 2009
00:21:19
and we'd exhausted the money we could get from banks regardless of what we said but we are a capital intensive business so we need money for stainless
00:21:25
steel tanks to expand and we were expanding quite quickly at that stage and it was how can we get money to expand our business and we spoke to some
00:21:32
potential investors but it just didn't feel like the right fit for us as a business so in 2009 we came up with this concept
00:21:38
that we called equity for punks yes so this was crowdfunding before crowdfunding was even a thing and we
00:21:44
thought okay if we can sell some of our business to the people who enjoy the beers that we make we can hopefully
00:21:49
create this whole new business model we spoke to five legal companies up in scotland and they all told us what
00:21:54
you're trying to do is essentially impossible you can't you can't do this spoke to a sixth company it says okay we
00:22:00
can maybe do it but it's gonna cost 150 000 pounds there's a lot of risks nobody's done this before
00:22:05
we decided to do it it cost us 150 000 pounds at a time that we'd 50 000 pounds in our bank account so we gambled the
00:22:12
entire future of our business on making this completely untried untested
00:22:17
business model that we just came up with called equity for punx a success i was so nervou like the day that we
00:22:24
launched equity punks it's the most nervous as i've been in this business journey because i knew if it doesn't work
00:22:31
like game over for us a business so many people told us it was a bad idea so many people told us people are not getting by
00:22:36
shares in a company on the internet people that don't want to invest in a beer company people just want to buy beer this is a silly idea there's too
00:22:43
much paperwork people's not going to send in checks which they had to do back then as well as as opposed to with some
00:22:48
online payments but those were cumbersome so most people paid by cheque but we wanted to do something different and
00:22:54
with equity punks what we've been able to do is shorten the distance between ourselves and the people who enjoy the beer that we make so we don't just have
00:23:01
investors we've got community we've got advocates we've got ambassadors we've got people who believe what we believe who want us to succeed and who are on
00:23:07
this journey with us the first equity punks was enough of a success to keep us in the
00:23:12
game we raised 500 000 pounds from about 600 600 investors but since then we've
00:23:17
gone on to build a community of 210 000 people and we've raised almost 100 million pounds through equity punks and
00:23:24
for me it is the most special thing about our business so the largest shareholder in
00:23:29
our business is equity punks and our team which i think is really cool so we are community owned we're people owned
00:23:34
and having that community with us who then when they walk into one of our bars they feel like they're walking into
00:23:40
one of their their own buyers when they buy our beer off the shelf they feel it's their own beer because they're part owner of that company so completely new
00:23:47
business model for a consumer around in the 21st century one that takes our consumers with us and that community
00:23:52
element is amazing they're our biggest fans they're our harshest critics we get fantastic feedback from them they help us find new locations they help us
00:23:59
develop new beers and equity punks has been key to what we've done as we sit
00:24:04
here in 2020 one of the biggest words in marketing is community now yeah and you've kind of detailed that i was
00:24:09
going to ask you but you've detailed very clearly the value of community um and the equity punching when i when i
00:24:15
read that i think okay it's one way to raise money but there's other ways to raise money but it's really more about getting
00:24:21
greater buy-in from your existing customer base and turning them into advocates and to die hard which is
00:24:26
increases loyalty it gets them to evangelize as you say when they buy beer they're basically it's almost like there's a discount on that beer i know
00:24:32
there is actually a discount as well but there's actually a discount on it because they're enriching themselves so it's a really
00:24:37
interesting innovative model is that similar to what like crowdfunding equity crowdfunding is today
00:24:44
before this very similar so this was before but it's very similar to what that is today and i think you've
00:24:49
articulated what the model is perfectly and for each of our beers that they drink because when the company they get a tiny little bit better off financially
00:24:54
which is an amazing incentive to have a second kind of hazy jain or elvis user punk ipa on a tuesday and a tuesday
00:25:00
evening and it's never just been about the money because we could have raised money in other ways but it's about building a
00:25:06
different type of business and a business that's focused on community and we do so much with our community and we have our big agm and aberdeen our annual
00:25:13
meeting yeah um last time we had 15 000 equity punks come for our annual meetings i think it's like the most
00:25:18
attended atm in the in the uk yeah so we do the business things we've got fantastic live music we've got amazing
00:25:23
beers and it's just the day where can everything that we love and believe in just comes together in one day and it's
00:25:28
always fantastic on money raising did you you the bbc released a podcast you might have seen yesterday like a podcast
00:25:34
on the you know i know you've had a sort of contentious relationship with them one of the things that they they leveled at you which i wanted you to respond on
00:25:41
was in those hard times they said your dad is wealthy yeah yeah so they said
00:25:46
there was a a suggestion that your dad might have been loaning you money yeah and so my dad my dad is wealthy-ish not
00:25:53
excessively wealthy and not nearly as wealthy as the bbc said and the only support my dad ever gave the business
00:25:58
was there was a period where one of the banks wanted to withdraw a loan and he secured that loan for us for six months
00:26:04
until we got moved over to hsbc so we were kind of very determined to do the whole thing ourselves so the only support was ever the short-term security
00:26:11
on a loan until we moved it quick one we bring in eight people a month to watch these conversations live
00:26:17
here in the studio when we're here in the uk and when we're in la if you want to be one of those people all you've got
00:26:23
to do is hit subscribe and then like going going to your your marketing thesis because this is really
00:26:28
what's defined um brewdog in the eye of the consumer in the eye of someone like me that doesn't
00:26:34
honestly drink beer but knows about the brand and considers that it to be a famous brand and watched it on linkedin and social media over the years build it
00:26:41
sort of a claim what is your like your principles that underline your marketing thesis because your marketing thesis is
00:26:47
very very different to pretty much nearly all brands in this country there's maybe a 0.1 percent that
00:26:52
maybe you've copied or that have been inspired or that you know chicken and egg i don't know who came first but it's a very unique thesis
00:26:58
towards marketing what underpins it we've got two very simple tests that we apply to everything that we do from
00:27:04
american perspective so the first test is would or could another business do this thing
00:27:10
and if the answer is yes we've got to seriously consider why we're doing it the second test is
00:27:15
if i spend a pound on this is it going to give me a 10x return compared to how a competitor would spend that pound so
00:27:22
we are in an industry dominated by global behemoths of businesses who are hundreds of times our size and we are
00:27:29
we're closing that gap and we want to close that gap but we only close that gap by making our market and our
00:27:34
communications everything we do work so much more effectively than theirs if our marketing is only as effective as
00:27:40
theirs we don't close that gap and we lose so the two tests are could or would another company do this and is it going
00:27:46
to give me a 10x return versus how my competitor would spend that money and if i'm thinking about how to get a drive a better return on marketing you know and
00:27:53
then i think about what you've done i see well we've got to be probably bolder to win share of voice we've got to try
00:27:58
and win headlines in more extreme ways because nobody's going to be writing about you for for the fun of it if you're a smaller
00:28:04
sort of challenge challenger brand then the second thing i i think is kind of we've got to
00:28:09
do that on new platforms we can't fight out on tv or in newspapers because those
00:28:14
are where you kind of throw huge amounts of money and you get uh return so new platforms and new approaches and that's
00:28:21
very much kind of signifies what i've seen from brewdog very very bold very bold and intentionally bold and
00:28:27
especially bold in our early years when we had no budget whatsoever so the challenge was how can we get our name
00:28:34
out there with no money at all so we had to do things that were intentionally provocative that we're on the edge and
00:28:40
sometimes we can exhaust that edge as well but that enabled us to get our name our message our business out there with
00:28:45
no budget at all so we have driven a tank through the streets of london we've thrown taxidermy cats out of a helicopter over
00:28:52
the bank of england we've put vladimir putin in the front of a beer label so we've done a lot of things low budget
00:28:58
high impact but we've tried to make it that everything we do ties back and is underpinned by what
00:29:04
we're passionate about so it does so there has to be a connection there so does this reinforce what we believe in what we're trying to do as a company
00:29:10
because otherwise it's just hollow and it's fake and it's false so how does this reinforce the kind of core beliefs that drive this business
00:29:16
which is try to build an alternative business and a huge passion for fantastic beer one of the more extreme things i saw the vladimir thing uh what
00:29:23
else have i seen i think to be because i'm obviously a marketeer so and running a marketing company and seeking
00:29:29
inspiration from lots of different brands and seeing what they're doing and the impact it's having especially on social media which is my my battleground
00:29:36
um the the thing i read about more recently was that you you put in a complaint about your own beer
00:29:42
which triggered press we did so this was uh all the way back in 2008 and we had
00:29:47
a few running battles with a few bigger players one of them was the pokemon group so the portman group was an industry still as an industry regulator
00:29:54
and for me it is a thinly failed cartel funded by the big drinks businesses who
00:29:59
have got a vested interest in making sure that small businesses are not successful and there was a few duelings
00:30:04
at the park that were just so so silly and frivolous that we wanted to make a
00:30:10
statement so we complained about one of our own beers to make a meta statement about how silly the
00:30:15
process is and how essentially corrupt it was as an organization funded by the
00:30:20
big beer companies big drinks businesses who've got a vested interest making sure the small ones are not successful how's
00:30:26
that like so you make a beer that is really high in avb is that was that the correct term it was yes so we made a beer we made a beer called tokyo 18 now
00:30:34
if you looked at the newspaper headlines in the uk when we launched that beer you would have thought that i was single-handedly responsible for the
00:30:40
downfall of western civilization by making an 18 beer we had it in the sun binge drinking blame this man with like
00:30:47
a cut out of my head in a bottle of tokyo that took a bit of explaining to my very religious grandmother but that's
00:30:52
another story that everything we did with that beer was we just made a thousand bottles it was very expensive
00:30:58
it was for connoisseurs it was for aficionados and we want to elevate the status of beer and i think the more
00:31:04
someone can understand and appreciate something the less likely they are to abuse it and we make expensive
00:31:11
products for people who love love fantastic beers so it was to kind of make a statement of you've got all these big companies doing
00:31:17
very cheap alcohol that's likely to be abused we're trying to ban products of this company that's looking to elevate the
00:31:24
status increase education awareness around beer and lead people to appreciate and enjoy beer in a more
00:31:29
elevated way and when you see yourself in the sun with a cardboard cut out of your face
00:31:35
is that kind of swings in roundabouts is that good in from a marketing perspective is that
00:31:41
a good outcome because you were trying to get headlight you complained about your own beer yeah you were trying to get headlines so is that job done
00:31:48
i think in that one to a certain extent it was it was job done and to kind of show you how
00:31:55
odd things were back back then so this was kind of 2009 2010 when we were starting to get momentum and the beer
00:32:01
scene was starting to change so the big companies had it their own way for way too long and things were starting to change
00:32:06
there was a award ceremony in scotland in 2010 um put together by the bi the british
00:32:12
innkeepers institute and we've got a heads up before the award ceremony hey guys you're going to win the award for scottish bar operator
00:32:19
of the year so you guys better come to the come the awards ceremony so we went there we booked a table they were just
00:32:24
about to announce i was like halfway up to the stage to get the award and they announced a different company i was like
00:32:29
okay but then the other company didn't want to take the award because our name was engraved in the trophy he was like well
00:32:35
we don't want it so the next day i spoke to the person that organized the awards ceremonies like what what happened like
00:32:41
you told us we were going to win and he was like well diago one of the world's biggest drinks companies they
00:32:47
were the main sponsor they told me five minutes before i would give it to you if they gave it to you guys they was going
00:32:52
to pull all future sponsorship you're joking so we felt we didn't have an option so we put this online it blew up
00:32:59
it was trending on twitter globally that day diageo issued us a formal apology about the whole thing and that apology
00:33:05
was kind of broadcast news but it just showed back then how the dynamic in the beer industry was
00:33:10
changing and how the big beer companies and big drinks companies were acting towards that change of which department
00:33:17
was one manifestation of it did you take that personally i took that as a sign that we're doing
00:33:23
the right thing so i think unless other businesses are copying you are trying to knock you then you're not
00:33:29
doing well enough so unless you're doing something that's worthy of people copying it and like a lot of
00:33:34
people moan on being copied it's like unless you're being copied you need to up your game and you need to do better
00:33:39
unless your competitors are trying to knock you down you're not enough enough of a threat to your competition so i
00:33:44
took that as a sign that we're on the right track we're doing the right thing let's keep going the the other extreme marketing thing that i saw which
00:33:51
was um when i first read i thought this is [ __ ] hilarious is the elvis estate
00:33:57
tried to copyright uh infringe you for calling your your us beer which i think is your most popular usb it is elvis
00:34:02
juice elvis juice yeah they sent you a copyright uh statement just sort of like a basically a notice that you you're
00:34:08
violating a copyright yes and you responded with some elvis uh rhyme we
00:34:14
did and and on the on the art on the linkedin post that i saw it said you changed your name to elvis yep then the
00:34:20
bbc come out and say that didn't happen yeah what is the truth in this one what did you change your name to elvis yeah we
00:34:26
did and just to go kind of back in the story so elvis sent um not elvis himself um elvis's estate
00:34:32
sent us a letter saying we couldn't use the name elvis and a beer and if we did we had to pay them a license fee for
00:34:38
every can case and bottle of beer that we sold so what myself and martin did we changed our names to elvis and we sent
00:34:45
them a letter back saying that they couldn't use our name on their music and they had to pass a licence fee for every time they played one of one of elvis
00:34:51
songs um got a huge amount of publicity at the time we were both elvis for a few weeks
00:34:56
and then we changed their names back so the bbc attacked us on that as they have on many
00:35:01
things however the bbc misunderstood the scottish procedure for changing the name
00:35:06
so they said we didn't change your name by deadpool that's not a scottish thing in scotland you need an official declaration to change your name which we
00:35:12
did so what's that just signing a piece of paper you sign an official declaration piece of paper and that counts as a name change in scotland and
00:35:18
you don't even have to send it to anybody don't have to send it to anyone scotland so we met the scottish requirements which is what we said we
00:35:23
did but yeah my grandmother was very unhappy and she insisted i changed my name back to back to james brewdog's marketing has
00:35:30
been so bold and it's been so standout and in terms of how hard you've in terms of the the return on every dollar you've
00:35:36
spent it's it seems to have been a pretty astounding return per dollar spent because you've done these like big
00:35:42
viral activations a lot of them are like um parodies or they're like taking the piss
00:35:47
of big corporations or they're sticking it to the man in various ways or going at the you know the incumbents in the
00:35:52
industry some of them know that they the even the example you gave there of
00:35:58
they're complaining about your own beer with the pork root yeah yeah obviously the complaint wasn't real yeah
00:36:03
because it was you because it was me what is the line between between like truth in when you're doing these stunts
00:36:08
and virality and uh untruth for you and where where do
00:36:14
you play are you willing to to do something that is from a marketing perspective that is not necessarily true like complaining
00:36:20
about your own beer if you believe it'll help reach the outcome which is to stick it to the portman group
00:36:25
yeah well i think with that one it wasn't necessarily untrue because afterwards we said we made this
00:36:32
complaint so it was us who disclosed the fact that we made the complaint that you were triggered okay and we disclosed that to just show how ridiculous the
00:36:39
system the system was so if we hadn't said it was us that complained about it then i would accept
00:36:44
that was being a bit dishonest but the fact that we came out and we said hey the system fundamentally doesn't work and we wanted to expose that by making
00:36:51
this complaint was what we intended to do there when we first started talking about marketing one of the things you said was um
00:36:56
we made a lot of mistakes yeah took things too far yeah what did you take too far in hindsight now
00:37:03
now that you're a big global brand and everyone is you know looking back at all the steps when you weren't so big yeah i
00:37:09
think the mistakes that we've made in marketing is when we've tried to do something which is on
00:37:15
the edge earth which is controversial which needs explaining so if you look at the thing in its
00:37:21
totality then it is potentially a positive thing but if you only see a snapshot of it then your take away from
00:37:27
that could be negative so i think a lot of the mistakes that we made from a market perspective and we did some amazing things but we did make some
00:37:33
mistakes was when we got too clever with the concept and the intention behind it which was
00:37:39
genuine got lost so a famous example of one of the mistakes that we we made in marketing and for international women's
00:37:46
day we wanted to highlight highlight the gender pay gap and this was a project that was put together by some of the
00:37:51
fantastic women we've got in our business and we made a beer called pink ipa that we always get sell 21 percent
00:37:56
cheaper to women to highlight the gender pay gap which was something that we felt passionate about
00:38:02
and then the proceeds from sale of that beer went to charities which helped women and women's pay in the workplace
00:38:08
and these kind of things but then what happened was people just saw pink ipa and it looked like we were it was the
00:38:14
beard itself was a parody of products which market themselves towards women but then it just looked like another
00:38:20
product that market itself to our women and if anyone like dug into it and understood okay this is to highlight the gender pay gap and they're doing some
00:38:25
good with the money and they're chasing your cause people just saw the pink ipa they saw the image and came to the conclusion that we're just doing the
00:38:31
thing that we were going to fight against and that was a key key learning that people just see a snapshot of a
00:38:37
thing so you need to make sure that all of the message that you want to land is in that snapshot because a lot of people's not
00:38:42
going to dig deeper into what it is what i got from that was that like you've got to create a marketing
00:38:48
campaign where the context is sort of can't be separated it can't be separated from because it will be separated if it
00:38:54
can be exactly 100 um coming from being the captain of a boat
00:39:00
to being the captain of brood dog quite literally that is your job title um
00:39:06
what adjustment was needed because on a boat when you're up all night and there's men
00:39:11
there and you know you've got a screw your screen was it was the
00:39:16
give me uh a snapshot of what the crew were like on a boat a troller
00:39:21
so a lot of my best friends to this day are the guys that i worked with on the
00:39:26
fishing boats but these are an unusual and interesting set of
00:39:31
characters as well it takes a certain type of person to kind of do that type of do that type of
00:39:37
work and do that type of work on an ongoing basis and i mean they're they're they're hard
00:39:42
working like to have like to have fun like to mess about a little bit but all about
00:39:47
the kind of all about the hard work and especially when things get difficult like seeing a good
00:39:53
drew and a fishing boat come together and work hard to get them kind of through a tough time together was kind of really inspiring when it came to like
00:39:59
business and leadership can i let her down the line i can see you being a very good captain on a boat you and i just
00:40:05
generally you're you in a couple of moments you know i didn't know you before you'd walked in the door but in a couple of moments that i've been with
00:40:11
you you're very focused and you're someone that i feel like and i don't know you but you feel very
00:40:18
resilient and then you you add that to the fact that this is your business
00:40:24
and you said before i think you said it in your book that no one will ever love the business like you do
00:40:30
you being so hard working so out of balance in your own life as you've described
00:40:35
how do you not then have that expectation on others because this is something that i honestly i struggled with
00:40:41
i struggled with especially in the early years of my business was understanding that i was a bit [ __ ] up
00:40:47
and that in fact everyone else was normal and i needed to understand it goes back to me saying about the dark side and the cost of my childhood and
00:40:53
the insecurities i was a bit [ __ ] up so how did how do you contend with that
00:40:59
for the first 10 years the business i would say i contended with that very very badly so
00:41:05
there's like a lot of intensity there's a lot of drive there's a lot of determination there's a lot of passion there and
00:41:13
understanding how to lead people how to take people with me on that journey has definitely evolved
00:41:19
over time and i'm now ceo of a business that's got 3 000 people before that i maybe managed a handful of
00:41:25
people in a fishing boat but that is it so it'll go from like no experience and being a ceo no experience as being a leader to managing 3 000 people at this
00:41:33
speed and add in this meant like this year well last 18 months cumulatively we're going to add a thousand people to
00:41:39
the team so it's like a thousand amazing well-paying jobs in a recession which
00:41:44
our country which our economy needs so we're expanding all the time but just how steep that learning curve is
00:41:50
to go from not managing anyone to managing 3 000 people with all the kind of stresses and strains of growing a business and i think if i look back and
00:41:57
reflect a little bit we've definitely had challenges and well-documented challenges along the way
00:42:03
and we've had periods of such intense growth that we maybe haven't focused enough on
00:42:08
our people in our culture during that period and as a leader i've always just been so focused on building something on
00:42:15
delivered an exceptional value to our customer and making sure every time someone opens one of our beers or visits one of our buyers the experience is
00:42:21
amazing and knowing that if someone is choosing to spend their money with us they're making a choice to do that versus one of our competitors therefore
00:42:27
we need to set the bar incredibly high and push incredibly hard and
00:42:33
as a leader because of that drive because of that determination because that focus i've definitely pushed some of the team members too far in the past
00:42:38
and i think that's been that's been well documented but that came from a place of doing this because we want to build
00:42:44
something amazing and it took a bit of time to understand that okay they're as amazing as their team are they don't
00:42:50
have the same level of investment in the businesses as i do right some of them want to push it that hard some of them just don't and for a while there was
00:42:57
just like i'm going to run through this wall and i want everyone else to run through the wall as well not everyone's going to run through that
00:43:03
wall and again a big lesson and i've kind of reflected a lot on leadership in the last 12 months is
00:43:09
to take people with you you've got to make them understand the why behind what
00:43:14
you're doing and making a first decade of a leader is like we're doing this this is what we're going to do let's go
00:43:20
and what i've kind of found more recently is like if people understand okay we're doing this but this is why this is what it means for you this is
00:43:26
what it means for the business this is why it's a fantastic thing this is why it's going to help us achieve objectives where everyone's going to win together
00:43:32
it's much easier to take people with you on that journey whereas in the first 10 years i was just like go interesting
00:43:39
that's such an important lesson because you know in the example you gave there on in one hand you would like dragging
00:43:45
people and all the studies show across all industries that when people don't go voluntarily it's it's burnout it's
00:43:52
pressure it's stress it's you know and then when what you've said there is leadership is in fact inspiring them to
00:43:57
come with you yeah and when it's voluntary in terms of they know why they're going and they want to go then
00:44:03
all the psychological implications across multiple studies that i've read about are significantly improved you
00:44:09
said you've been on a leadership evolution so speaking honestly what has that evolution been from when you started as
00:44:15
a leader and the business it starts to explode to the person that sits here in front of me today what have you had to work on and remove so it absolutely
00:44:23
still is a journey and i absolutely believe that i can get better as a leader and i think one of the most important things i've done in the last
00:44:28
12 months we appointed an amazing um independent non-exec chairman and alan leighton who's run some fantastic
00:44:34
businesses so much experience so having someone there who's like a mentor to me because like if i hang out with my
00:44:40
buddies they want to speak about football and golf and that kind of stuff they don't want hey i've got this kind of leadership channel
00:44:45
it's like they don't care which is which is amazing but then being a ceo is a very very lonely job at times
00:44:52
and like incredibly lonely and there's another quote that i love um from ben horowitz author one of my
00:44:58
favorite business books and it's like the first rule of ceo psychological meltdown is not to speak about ceo psychological meltdown so i think people
00:45:04
don't realize like being a ceo is fantastic but it's lonely it's it's intense it's it's difficult so
00:45:12
having allen's kind of help and guidance through that journey i think is really important and i would say in the early years the business i managed it like a
00:45:19
captain would manage a small team in a fishing boat whereas now i'm looking to evolve my
00:45:24
leadership style into a ceo of a kind of medium to large company which is
00:45:30
a bit less intense which is maybe a bit less demanding but which is more about taking our people with us on this
00:45:35
journey so here here's the we're going to do this and it might be tough but this is what it means for us as a business this is why we're doing it but
00:45:41
then also making sure that incentives are very much aligned making sure that okay we want to create a business model
00:45:48
where we went together as a company which i think is really powerful and we've always wanted to
00:45:53
build a radically different type of business a business that rejected how things were done and what big business
00:45:58
was as usual and it's been key and i think if you look at we're community owned we're the world's first carbon negative beer business
00:46:05
and the new things that we've launched with our people it makes us a fundamentally and radically different business so we've recently launched the
00:46:10
blueprint which is i think the biggest most important announcement in the history of our business so firstly i
00:46:16
decided to give almost 100 million pounds of my own equity in the business to the team so it's over the next four
00:46:22
years but that means each salary team member receives 120 000 pounds worth of equity and that's in the valuation today
00:46:28
so if we double in size then that could be significantly more and that's about recognizing like we are all in this
00:46:34
together we want to win together we want to work hard to win together and it's about incentivizing our team to act like
00:46:41
business owners but rewarding them like business owners the second part of that was we wanted to create a
00:46:46
completely new model for how a hospitality business works so we've got over 100 amazing hospitality venues all
00:46:53
over the planet each of our buyers now share 50 of their profits with the team that work there so
00:46:58
it's a whole new model where if you visit one of our bars in tokyo in berlin in cleveland in
00:47:06
australia you know that okay half of the profit that this mark makes is shared with amazing people that put this
00:47:12
experience together so we want to kind of elevate the standard of hospitality elevate the standards of careers within
00:47:19
hospitality we've always been a real living wage employer which means very important for us but
00:47:24
sharing 50 percent of profits with our team i think helps us attract and retain fantastic people i think it's something
00:47:30
that's going to resonate with our customers and i think it's something that's going to help us elevate the hospitality experience for consumers and
00:47:36
consumers are ultimately the thing which drives our business that's the thing you know we the first point was like
00:47:41
inspiring people to come with you as opposed to dragging them which again many ceos many leaders fall into the trap of doing that because we are so
00:47:48
blinded by our own mission that we forget to communicate it and bring other people but the second
00:47:54
thing you touched on there is um if you know we sometimes ceos sit here and i've probably been guilty of this you said
00:47:59
you've been guilty of this it's like looking at you know the team that you've built and and maybe questioning at times why they're not moving with the same
00:48:07
energy that you are but they're not incentivized to they're not going to be a hundred millionaire gazillionaire if
00:48:13
this all works out they are getting their their remuneration regardless of outcome so the second piece that i've garnered
00:48:19
from that of leadership is also to align incentives and if you want someone to act like an owner you have to make them
00:48:24
an owner which it seems like common sense but it's not so common it's not so common it took us a while to
00:48:31
get there but that is exactly like we've got reasonably high expectations of of our team we like to push hardware in our
00:48:37
industry dominated by companies much bigger than ours so we need to be on our a-game we need to push things as a
00:48:43
business but we need to recognize the hard work that hundreds and thousands of people put
00:48:48
into our business every single day they're the people that make the beer that deliver the beer that make the
00:48:54
magic happen for the customer and i want their incentives to be as aligned as my own and i want them to feel as much
00:49:00
ownership as i do and i want them to share intrinsically in the success of the business but hopefully by doing this
00:49:06
we can create a new business model that in a few years time i can then sit down with other ceos and okay like we've
00:49:11
invested in our people this way but we've become a better business because because of it and then do other businesses then decide to do the same
00:49:18
thing is it maybe normal in five years time for every hospitality business to share fifty percent of profits with the people
00:49:23
working their site and if that happens then we haven't only made the lives better for the people at work in our business but we've managed to fundamentally change our industry which
00:49:30
would be really cool a lot of successful businesses in the country i'm thinking of the ben francis and thinking of the huels hashtag ad just in case the asa
00:49:37
come for me um uh a lot of business owners that have gone through extremely high growth and
00:49:42
i've sat here with those ceos of those companies they get out of the way yep they realize especially in your case
00:49:48
because this was your first shot at this this is my first shot yeah so you're gonna [ __ ] up like
00:49:53
many many many times as well hugely over and over again and still today um
00:49:59
but they get out of the way so ben france has stepped down at a ceo when there was 30 people the founder of
00:50:04
julian stepped out of the ceo role and put someone in did that ever cross your mind and why didn't you do that sooner if you if you
00:50:10
knew that you didn't you had because learning on the job when you got 2 000 people is a high risk
00:50:16
it's a high risk thing so i'm very passionate about being ceo and it's something i want to continue doing for
00:50:21
the foreseeable future and why because i think we are only just
00:50:26
starting so a question that i get asked a lot when i speak to the media is like how do you feel about what you've done
00:50:32
what you've built what you've achieved so far and i wouldn't say the feeling is quite as numb as indifference but it's
00:50:40
it's close to that really yeah and for me what is exciting is where can we take this from here so
00:50:46
we want to build one of the world's best beer companies we want to build one of the world's best companies overall i
00:50:51
look at companies like whole foods or tesla or google or
00:50:58
amazon or starbucks i mean that is the scale of the ambition we want to do what they've done in their industry for a
00:51:03
beer so what i'm insanely excited about is okay we've given ourselves a platform we've now got
00:51:08
over three thousand staff we now make beer in four contents we've now got over a hundred locations we've got
00:51:14
significant sales momentum where can we take this from here and i think what we've done so far
00:51:19
gives us an opportunity to do something meaningful to do something impactful to do something that enriches the lives of
00:51:24
our customers to do something that helps us save the planet and fly the flag for sustainability something that helps us
00:51:30
look after our team members even better but helps us have a huge impact and what
00:51:35
i'm very excited about is okay what can we do as a team as a company as a collective as a community over the next
00:51:42
five to ten years that's what i'm focused on that's why i get out of bed in the morning and that's what i'm really excited to
00:51:48
continue doing with the fantastic management team and team that we've got in the business i was startled when you said it indifference
00:51:54
you you genuinely the way that you feel about what you've achieved so far is quite close to indifference kind of just numb or like just meh
00:52:01
honestly it's close and different so we've done some fantastic things but
00:52:07
overall we're still relatively small in the overall scheme of things i'm like in terms of like if i spend
00:52:14
like maybe five percent of my time thinking okay this is good 95 of us okay in the next 12 months we can open our
00:52:21
fantastic site in vegas we can plant millions of trees in the lost forest in scotland we can reduce our carbon
00:52:26
emissions we can launch some fantastic new beers our customers are going to love we can open 50 new locations in
00:52:32
india we can continue investing in our people we can make the profit share thing amazing we can try and make sure
00:52:37
that the equity that people have in our team is as valuable as possible we can continue expanding our german business
00:52:44
beer brewery yeah so in 2007 if i'd gone when you
00:52:49
were doing you know you're taking that 20k loan from the bank and i'd gone and seen you and dicky and i said listen couple of years time
00:52:55
you're going to be the 16th largest brewery in the world and you're going to have thousands of stuff all around the
00:53:01
world in 111 locations whatever it is you're going to be opening a thing in vegas you would have and i said how do
00:53:06
you think you're going to feel on that day what you said to me well i think there's there's two answers to that question
00:53:13
so one answer is the answer that i would usually give to media which is like if you go back to 2007 and now you've
00:53:20
built this could you have envisaged it could you have imagined it in the answer that you've kind of got to
00:53:25
give to the media because anything else sounds too self-assured no i could never have imagined it it's been amazing
00:53:32
but the answer that i don't usually share is of course i imagined it because if me and martin didn't imagine it how
00:53:37
can we build it how can we make it a real thing if it wasn't something we're kind of planning to do or planning to planning to build
00:53:43
so i think she went back and asked me that question there i would have been very excited about the journey and the
00:53:50
joy of building something but you if i said how would you feel today so to that i'm 2007 uh james and dickie okay and
00:53:59
i'm saying by the way look at this this is what where you get to in 2022 yeah you would you would i'm guessing you
00:54:05
would assume that on that day in 2022 you would be really content yes but you're clearly not
00:54:11
you're not content are you because you're saying that yeah you're saying you're indifferent yeah no if you'd asked me that then i would yeah i'm
00:54:17
gonna like spend half of my time in the office half of my time traveling and then and then just chill where that's what
00:54:22
i'm doing at the moment is exact opposite of that and what i'm focused on is okay where do we take this thing from here can we make a can maker dual
00:54:29
difference can we create the world's first top 10 beer business for over a century
00:54:35
and that's an exciting challenge i've come to learn from doing this podcast that um
00:54:40
we almost need to make goals that can never be completed for that very reason and so
00:54:46
the words like better like will make brewdog better is a much more useful word than will become number
00:54:52
one because when you become number one there's nowhere to go from there and it's an anticlimactic
00:54:58
yeah exactly so there's an ant there's a real anticlimax about reaching these peaks so it's almost like trying to climb a
00:55:03
mountain where there is no peak and that is that's ultimately life and then you die somewhere along the journey
00:55:09
but that kind of goes against the trend of like goal setting and what's your goal and what's your five-year plan and
00:55:14
this kind of underlying assumption that finish lines will make us euphoric
00:55:19
have you experienced that that's kind of why i was asking the question about 2007 yeah well i mean i guess the closest
00:55:24
thing we've had to finish line is in 2017 we took a big investment in our company the
00:55:30
company was valued at just over a billion so one of my things was always like
00:55:36
let's see if you can build a unicorn so unicorns are startup companies which get to be valued over a billion called
00:55:41
unicorns because they're so there there's so few of them happen in the uk and especially in scotland and i always thought okay if there was ever
00:55:47
something that would make me
00:55:52
feel okay i've accomplished that thing i've done that thing i'm complete happy content it would be okay build a unicorn
00:55:58
like that for me that was my win an oscar school up scored a winning goal in a world cup final but like for me that
00:56:03
was build a unicorn and then the next day i was just like okay let's let's go where do we go from
00:56:10
here that was your first big sort of cash windfall personally because the money some money went into the company somebody went to the founders yes
00:56:16
yes so that was your first big um dealings with being a cash millionaire yes and uh i find a fun story from that
00:56:22
so um the money came in to myself in martin and uh i had bethany so it was like well into
00:56:28
the tens of millions i had bethany my amazing assistant and transferred it from the lawyers account into my bank
00:56:33
account for some reason we there was a typo in the in the account numbers
00:56:40
and it went to somewhere in russia the money was lost for four days at a point in time
00:56:45
we thought there was the money wasn't going to come back so i went from the euphoria of okay
00:56:52
i've built a unicorn i've got a huge check in my bank account where the [ __ ] is the money what am i getting
00:56:58
tonight so in the fifth day um the boss of the boss of the boss of the person managed to find a way to get
00:57:05
the get the money back and we got the money back but for the five days after the deal the money was uh missing presumed lost which is never coming back
00:57:12
russia what a place to send it [Music] yeah the start code sent it to bankinson petersburg and they're like well the
00:57:19
bank might even want to send it back because okay oh my god so now now double triple check
00:57:26
every start code that i uh that send cash to what was that date what was that that like emotionally that's that was
00:57:31
what you were aiming for in many respects in terms of financial freedom what was it like
00:57:37
and and maybe it's a theme of people you have on here but
00:57:43
often when you get to where you think is good the thing that's going to make you happy
00:57:49
a couple of days and then your reality is is is almost the same
00:57:55
the demons are there the challenges are there the opportunities there but with people i've spoke to as well
00:58:01
it's never just this euphoric moment where you sail in the sunset and live happily ever after it's a bit of a
00:58:09
bit of a celebration a bit of a kind of quieting of the voices of the head for a few days and then go again when you say
00:58:15
the demons what do you mean that inadequacy complex like you're not
00:58:20
good enough you're never get managed to build a business this business is going to go nowhere you're going to be a failure you're
00:58:26
going to be back in a fishing boat you should have listened to everyone who told you not to set up the business they were right they told you it was a bad
00:58:32
idea who put that voice in your head
00:58:38
i think a combination of early childhood potentially partly parents despite being
00:58:44
well intentioned um there was a story from my childhood where i've been obsessed with sharks my entire
00:58:50
life so my favorite hobby is to go diving with sharks it's like i'm happiest when i'm under the water with sharks i recently went to guadalupe
00:58:56
island off the coast of mexico dive with some great white sharks so like being under the water with sharks is is my happy place and when i was a kid i would
00:59:03
always tell people when they asked me what i want to be i want to be a marine biologist i want to study sharks and
00:59:08
when i was eight or nine years old my parents told me to go and get my shark book i was like wow okay they're finally interested in something that i love so
00:59:15
pajamas on just before bedtime went to my bedroom come through with a chart book mother opened up the shark book and uh
00:59:22
went through the four authors in the shark book and was like james like this person phd this person phd this person
00:59:27
phd they've all got phds it's just not something you're going to be able to do so you need to stop telling people you
00:59:33
want to be a marine biologist you need to stop telling people you'll get study sharks because you just won't manage to get a phd so you need to think of
00:59:39
something else and i just remember not saying anything taking my sharp book and just like walking back to my bedroom and in tears
00:59:46
no okay no more no more shark extremes have you ever forgiven your mother for the way that she was
00:59:55
i don't think so you don't
01:00:01
but i think there's a lot of incidents like that that's where that voice comes from and i mean the voice of the voice is very
01:00:07
much part of me um and i think it's helped me push maybe push too hard at times it's
01:00:12
helped me do some fantastic things and but i mean it's it's always there and after that big deal it was like okay
01:00:18
you've done that but now unless you can do this then that voice starts up again yeah i just i worry about that a little
01:00:26
bit because um yeah
01:00:32
why don't you think you've forgiven her uh there was a lot of other things that happened subsequently
01:00:39
and ended up in a messy court case with my father and i just
01:00:44
didn't want anything to do with it i was like this is your thing sometimes people don't get on
01:00:50
fine just started out it's it's it's not my thing and she called me as a witness in the court case
01:00:55
which meant i had to sit there for five days in the court of session in edinburgh this was when i was studying law in the court of session
01:01:01
with some of the students i was studying with watching the case and i was like sitting there waiting to be called and i don't think she'd ever any intention of
01:01:06
calling me and somehow she just wanted to subject me to the pandemic that was playing out that i didn't want any part
01:01:11
of and i was forced to sit there and watch it which was which was tough when people talk about forgiveness they they
01:01:16
always say that it's a process of like letting a prisoner go and realizing you were the prisoner the whole time
01:01:22
um another another question i mean well i was going to ask are you
01:01:27
do you think you've healed from it but you've just said that you still have that voice today yeah but on some level
01:01:34
maybe i want that voice interesting so maybe it's like well if you lose that voice are you going to be
01:01:40
able to do these things is the voice the thing that makes you
01:01:46
able to build a business with your best friend from scratch to what we've built but
01:01:51
isn't that what the base would say because of that that is what the voice would say the voice values validation it's it's desperately seeking validation
01:01:58
so of course the voice would say what if you lose me then you'll lose then you won't be validated anymore and validation is so important to us this is
01:02:04
a really interesting topic that i that this was the last chapter in my book and i actually didn't know i knew
01:02:09
what i wanted to try and get to but i didn't know what the answer was until i started writing and it's this whole idea of feeling if you're you're enough yeah
01:02:16
do you feel like you're enough yet and i thought that the reason why i was
01:02:21
ambitious was because i didn't feel like i was enough so it was this driving force but in fact i came to learn
01:02:26
that because i didn't feel like i was enough i had fake ambitions i wanted a
01:02:32
lamborghini and to impress people these were never my ambitions and the closer i got to feeling like i was enough my
01:02:38
ambitions changed i still had ambitions i didn't lose ambition but they became intrinsically driven ambitions like i
01:02:44
want to have a wife and i want to do things like a podcast where it doesn't pay a [ __ ] ton of money
01:02:50
it's not the best financial use of my time but it's an intrinsically driven thing um
01:02:55
and so maybe your ambitions will change but you'll be happy with the change i think that's a great point i love your
01:03:00
book by the way and i've actually highlighted a few yeah i have a few points in that in that section and
01:03:06
i think at the moment ambition are things that can be measured objectively because that objective measurement helps
01:03:12
with helps that voice but at the same time you're writing the voices like well if you lose me you're going to lose your edge i'm puts makes you able to do all
01:03:18
these things and has that voice changed over the years with your success at all no
01:03:24
not at all it just moves the goal every time really moves the goal post achieve it go post
01:03:29
movies no change at all in that voice [ __ ] you now no that explains explains a lot to be fair
01:03:35
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01:04:22
one of the things you announced which you talked about earlier is this this new manifesto for your business called the
01:04:27
the brew dog blueprint creating the business of tomorrow and this is kind of the late stage vision for a much more
01:04:33
sustainable company when i say sustainable i'm talking not about carbon emissions i'm talking about a company
01:04:38
where your team and your your mission can be achieved in a sustainable holistically sustainable way you've had
01:04:45
a lot of controversy over the last two years i don't just think over the last two years i think controversy has followed us
01:04:51
almost every year since 2008. and much of that you've actually welcomed you've you've tried to get controversial yeah it's been central to your marketing
01:04:57
strategy yeah and it's actually from my estimation especially in those early has served you tremendously well
01:05:02
because it's made the marketing dollar work a lot harder um the controversy in more recent years
01:05:08
starts with this punks with purpose letter that was written 300 of your ex-employees and some of your current
01:05:14
employees at the time and think in 2020 or 2021 uh 281 came out with these allegations of bullying uh lying fear
01:05:20
toxic workplace culture unfair dismissals all of this stuff when people hear about the
01:05:25
the blue dog blueprint they might think it's a knee-jerk response to that
01:05:31
um and that without that moment where you know those employees had written that letter about their experience at brewdog
01:05:38
you wouldn't have gone on the journey and published that new vision for brewdog what do you say to that um i
01:05:45
would say that's completely not the case firstly let me speak about how we've been this employer so i think it's completely fair to say there's been
01:05:51
points on the higher growth journey of this company where we could have done more to look after the the people as a
01:05:58
first-time ceo leading the company it was expanding super rapidly in the us and germany in
01:06:03
the uk at times we didn't invest enough in hr we had unrealistic expectations of our team and i think a fair amount of
01:06:09
feedback in that letter was was valid so we've always wanted to be the best employer we can be the aspiration has
01:06:15
always been to be a fantastic place to work and we've always believed that our long-term destiny is determined by how well we look after the fantastic people
01:06:22
in our business and i think that has been core to our dna since day one have we always lived up to that in the higher
01:06:28
dose periods no we haven't and i think we fully accept that and off the back of that feedback we did a full independent
01:06:34
review of culture we spoke to over a thousand people inside and outside the company and we made a whole host of
01:06:41
changes we invested in hr we put a page in place across the board we added
01:06:46
resource where we felt we were under resource as a company we put in place an independently managed ethics hotline and loads of other things
01:06:52
i think we had a few years where we missed the mark from a people perspective high growth inexperience in my behalf
01:06:59
unrealistic expectations difficulties in covert i think we've reset things now i think we've put some fantastic things in
01:07:05
place and then on top of that we've launched a blueprint which i think helps create a whole new model for business going
01:07:11
forward which is something we're very excited to do when that letter came out from punks with purpose
01:07:16
that day talk me through what it's like to be a ceo when 300 you know people sign a
01:07:22
letter accusing you of all these making these allegations about toxic company work culture what's it like for
01:07:28
you that day tell it's it's i mean this is my this is my life's
01:07:34
work and some of that feedback was fair and valid i think some of the feedback was was disingenuous but we took that approach
01:07:39
of whether we agree with it or not we're going to use this as an opportunity to get better now maybe in two three four
01:07:45
years time we can look back and say as difficult as this was we've become a better company because of it how can we
01:07:51
engage with this and how can we use it to get better because ultimately our people are the most important thing in our business and we want to be the best
01:07:57
business we can long term and we've just got to use it as a catalyst for for getting better long term as a
01:08:04
business what did you think was fair i think it's completely fair to say that i at times in the journey have been
01:08:11
too intense that i have been too demanding that i have set standards for the team which i would
01:08:17
set for myself but then for a lot of the team members that is unattainable and i fell in the trap of picking bits and
01:08:24
pieces from some of my favorite business leaders philosophy so jeff bezos has got
01:08:29
a philosophy that standards need to be unreasonably high and unless people think they're unreasonably high they're not high enough and i would just pick
01:08:37
bits and pieces without kind of taking maybe the whole philosophy and i just pushed for such
01:08:42
high standards unrealistic deadlines and it was because i was so focused on let's build a thing let's create more jobs
01:08:48
like create more regression opportunities for our team let's deliver more value for our customers actually amazing moments of customer magic let's
01:08:55
continue let's continue building so the intention was 100 good and because i was so bought in and so
01:09:01
focused on that i did i did push people too far what was the most hurtful thing that you read so you that that letter
01:09:07
came out the bbc did a documentary that bbc did this podcast which is kind of just the same as the documentary what was the most hurtful thing that you read
01:09:13
written about yourself well i think for for me there's the
01:09:19
difference between okay this is genuine feedback because people had a valid
01:09:25
concern and because people want to help make us a better business which
01:09:32
fully accept want to listen to that feedback all day long with us there's been unfortunately two things
01:09:38
mixed together so there's been the valid feedback which we'll listen to which we accept
01:09:43
which would become a bit better business there's also been people who have been on a mission to inflict as much damage
01:09:50
as they can on me and on the under the business with mistruths with misrepresentations with
01:09:57
dishonest statements and dishonest claims and i know a lot of these individuals and unfortunately i can't say too much at
01:10:02
the moment because there's two ongoing court cases but there's been a large amount of criminality involved
01:10:08
in this as well and hopefully one day i'm able to speak about it but some of the things that's happened in the background are completely shocking it's
01:10:14
almost like a movie plot so you've got the kind of two things mixed up in our case you've got valid feedback from
01:10:21
ex-employees about okay you could have done better here you didn't invest enough in hr these things were difficult that we fully hear and the other side
01:10:27
you've got people taking advantage of that moment just to try and inflict damage in me and the company for
01:10:33
for whatever reasons we've always had haters as a business as well perhaps more than any other business and i
01:10:39
always felt to have people hate you you need to be successful doing something that you love and i think there's a big
01:10:45
difference here and you spend some time in the u.s between how u.s people relate to successful
01:10:50
business people and how uk people relate to successful business people and i think in the us it's they cheer you on from the sidelines
01:10:56
they support you because they their mindset is they think that can be them someday whereas in the uk i think
01:11:02
it's maybe a bit more jealous of success and they don't think it's going to be them so therefore they're they're jealous and
01:11:08
success which i think is a bit to play there as well so yeah some of the elements of feedback that i felt wasn't coming from
01:11:15
a genuine place where somebody kind of hired us to hear for as the other bits of feedback that was fair and genuine i was there for all day long but the
01:11:21
disingenuous bits of feedback were were tough because they just all get reported the same way in the media fair and fair
01:11:26
and genuine feedback then so you one of the things that you actually do at your company and you were doing during this growth period doing the the old net
01:11:32
promoter school thing one of the things that bbc reported on yeah in your head office the the score for when people ask
01:11:38
we're asking a question how likely are you to recommend brewdog is a good place to work was minus 54 and then company-wide the score was minus 18 yes
01:11:46
how does one when you because that's just a number yes how does one go about getting to getting the context of that
01:11:52
number and then improving it the number because if i got that number i i wouldn't know where to bloody start yeah
01:11:58
well i mean i would start with surveys but it's a difficult thing to change right because that's a it's an awful
01:12:03
number you know yeah and i don't think you can change it based on a number and i think the mistake that we maybe made in the past
01:12:10
was when we knew we had an issue with our culture we tried to fix those issues in a vacuum so it would be me and a
01:12:16
couple of our senior leaders and okay we know we've got this issue here we want to make it better for our people let's
01:12:22
do this this and this but we create that in a vacuum and we didn't speak to the people so we did so many well-intentioned things that we thought
01:12:29
was really going to help us as an employer that just didn't help so one of the biggest learnings
01:12:35
on that part of the journey for me and it's really kind of came to fruition with a blueprint is if we're trying to
01:12:40
do something that's good for our people let's build it with our people let's not build it in isolation let's not make it a vacuum so the blueprint for instance
01:12:46
before we launched it i did focus groups extensively with cross sections of the company in america junior people senior
01:12:54
people middle managers i did the same for a retail business for a production business i did face-to-face workshops on
01:12:59
it it's like here's what we're thinking about doing in terms of making things better for you guys what do you think this is going to
01:13:06
impact you in a day-to-day basis how do you think this is going to go down the team but ultimately how can we make this
01:13:11
better and in the past the blueprint i would have just launched it in a vacuum with good intention we made so many changes
01:13:18
to how it works based on the feedback from our team so we ultimately ended up launching something that was far more
01:13:24
impactful that was far better for our team because we built it in a fundamentally different way than we
01:13:30
would have built it before which is just in isolation and i think that's a first example of us doing that and me doing that as a leader which i think is a
01:13:36
really important evolution of my leadership style within the business the the other thing you've done which i i implore all
01:13:43
companies to do is par as part of your brew dog blueprint when i went on the website i saw that you've got that
01:13:49
transparency dashboard yes this is very important in the modern world because this puts the the power of
01:13:55
truth into your hands in terms of reality so what you've done is you've published on your website things like
01:14:01
your employee sort of satisfaction school um things relating to your carbon emissions and all these things so that
01:14:06
the world can now see what your own team think of being a brewdog employee because what that also does for the team
01:14:13
is it builds trust it it does and i think it's such an important part of our philosophy and it
01:14:19
just got to a point where there were so many misrepresentations that was like okay let's just give them
01:14:24
the facts in their purest most undiluted form and then people can make up their own mind so if you look at the transparency
01:14:31
dashboard at the moment the latest score that we've got from people within our business is 3.49 out of 5 as an employer
01:14:38
now do we want to be 3.495 as employer no is that significantly better than most people outside the company would
01:14:44
have you think yes but what we've committed to doing is every 12 months we're going to do the same survey in the
01:14:49
same way and we're going to update people so we're going to do that at the end of this year and we're going to share those results so people can see
01:14:55
okay you've done some things are you now better or worse than a 3.49 in an anonymous survey from your people and
01:15:01
that's a level of transparency we've committed to here and i think that commitment to transparency
01:15:06
isn't something new in our business in 2014 we launched something called diy dog so with diy dog and we gave away the
01:15:14
beer recipe in full for every single beer we'd ever made so at the time it was 250 recipes so it was the key
01:15:21
starter kingdom it was everything that most companies usually kind of keep awake in a in some secret vault somewhere and like
01:15:27
loath to share with anyone but that transparency has been kind of hardwired in our dna for a long time in the transparency dashboard specifically
01:15:35
focusing on culture people headcount employer score is a key evolution of that and obviously if if you're asking
01:15:40
if you're doing surveys of your team yeah uh people are always going to fear reprisal which is if i write something bad on this am i going to get fired or
01:15:47
something is it anonymous it's 100 anonymous and it's managed by an independent third party oh good which
01:15:53
lets us get the purest most undiluted fair objective feedback we can one of so
01:15:59
one of the i'm reading through the bbc reports and i'm looking through i'm listening to the podcast i like to do my
01:16:04
research so i watched the documentary yeah i listened to all six six and a half parts of the podcast
01:16:10
the bit that where i might my skin really was just i felt really uncomfortable was when a certain member
01:16:16
of the team i think in an american bar talked about the interview process for promotion and someone i think her
01:16:22
manager had said to her some had asked her continually does she have kids is she going to get married when you
01:16:28
heard that that a member of the brewdog team was being repeatedly questioned on whether they had kids in when they were
01:16:35
interviewing for promotion did you were you as horrified as i was i was i was massively massively
01:16:40
horrified here i was massively horrified for two reasons a that it happened and b because
01:16:46
i know it's my fault so that every single thing that happens in this
01:16:52
business is a direct consequence of something i have done so if something goes wrong
01:16:58
anywhere in the business in a business with 3 000 people things are going to go wrong all the time in every different country like all the
01:17:04
time but i can never ever blame anyone but myself because i've either hired that person set the tone for the culture
01:17:10
instructed that person communicated with that person communicated with their manager so it's all a direct consequence
01:17:16
so when we've got an issue i can't look at anyone but myself and i've got to take full responsibility for that issue
01:17:22
and putting things in place to fix that issue so it was hard to hear because it's something that should absolutely never happen but also hard to hear
01:17:29
because no because if i'd done my job better then it just wouldn't have happened in the in the first place is that an evolution that perspective
01:17:36
that evolution is a perspective as well before if something went wrong in the car and i mean this is a steep steep
01:17:41
learning curve before if something went wrong in the company blame someone else yeah and by blaming someone else
01:17:48
you just don't address what the issue is and then you scapegoat someone else which is bad from a culture perspective
01:17:54
when now it's back to the question okay what could i have done to ensure that didn't happen what can i do
01:17:59
to avoid that going forward what can i do to make the team the culture the people as strong as i can going forward
01:18:05
so we can be the best representation of this company and build it to how we want it to be is that
01:18:10
one of the trends that was very obvious in this documentary was because i assume brewer the brewery industry is is male
01:18:17
dominated yes women that get jobs in the industry are at
01:18:22
risk of getting swept up in a male culture and um being
01:18:28
the victims of a male culture in many respects there was the the story in the podcast about someone in a in a brewery
01:18:33
or something doing a masturbation gesture a female employee this goes back to a masculine culture
01:18:40
issue kind of the kind of culture you would expect in a football locker room but wouldn't ever
01:18:47
is this the the systemic sort of uprooting that you've had to to think about because 3 000 people around the
01:18:53
world you you have to protect all of them i do you have to protect all of them from each
01:18:59
other yeah that's not yeah
01:19:05
how does one go about that is that a culture philosophy thing how do you stop and how do you when someone goes to
01:19:10
report something like that that horrific incident what so again we've put in place loads of things so now we've got an independent
01:19:17
ethics hotline which is independently managed so there's so many ways now for people people who report something
01:19:23
they're concerned with they can speak to their line manager they can speak to the hr department or if they want to do it
01:19:29
completely anonymously we've got this independently managed hotline they can call that hotline that hotline that then
01:19:34
gives the feedback to our directors to our hr department but it's completely anonymized they don't know who that
01:19:39
feedback is coming from and for us like we want to build the most diverse most inclusive business that we can i
01:19:46
think it's fundamentally important that we are as diverse and inclusive as our customer bases as well we've now got a
01:19:52
diversity inclusion forum within the business with people from all over the business where they discuss things okay we can get
01:19:58
better at this we can get better that so it's putting more things in place where we listen to a huge cross-section of our
01:20:04
team and whereas before we've been okay we're building a thing and the team are helping us build a
01:20:10
thing it's okay let's build a thing together with our team because the person who's on the front lines in our bar in columbus ohio or a bar in central
01:20:18
london or a bar in edinburgh the person who's working in the warehouse in glasgow or in the jury in australia
01:20:24
their perspective on things is so important and i think a trap that i fell into was okay
01:20:30
this is our culture because this is what i say it is you can't say what a culture it is the culture is
01:20:36
how the people in your team feel and then how they act and you only build that together so for me it's been
01:20:42
another kiki learning let's build the culture together with our team and that's going to give us the strongest
01:20:48
culture that we can has the culture always been amazed in the past no hands up it hasn't can we make a fantastic
01:20:54
culture together in the future with our team i fully believe we can and we're very much focused on that you've got two young daughters i do so when you hear
01:21:01
about you know when you hear these incidents that have come from women saying that they've experienced someone being misogynistic to them that must hit
01:21:08
closer to home than most it absolutely absolutely does so i'm super lucky to have two amazing daughters they're
01:21:14
eight eight and five oh wow yeah um the eldest one is uh sometimes makes
01:21:20
beer with me at home in the kitchen and i mean saturday afternoon which is at five does she drink it no she doesn't
01:21:26
drink it she smells it and she picks out the hops and she picks out the mall and then she designs a label and she gives it to
01:21:32
might be another documentary so sometimes you're allowed to allow to drink it and stuff but yeah i
01:21:37
mean it's it's tough i mean the outside of the business i mean my daughter's the most important thing in my life full stop and
01:21:42
the main focus of my life outside the the business and i think being a father has
01:21:48
changed my view in a lot of things i mean it's not just since myself and martin became fathers that there
01:21:53
suddenly became baby changing facilities in all of our venues and that kind of thing but and i can a deeper level a lot
01:21:59
of what we're doing from a sustainability perspective is because i want to be able to look my kids and and i know that we did our bit to save
01:22:05
our home planet that this didn't happen in our watch that we put things in the line here and then in terms of the culture we're building as a company as
01:22:12
well i want to be able to when they're drawn to speak to our daughters about okay we try to make it amazing for everyone by doing these
01:22:18
things this is the values that we held true to us did we always get it right no was that intentional was there to do
01:22:24
that absolutely and this is where we got to in that journey one of the things you you said you know i [ __ ] up on this
01:22:29
particular point was investing in heineken and you've explained many times you know
01:22:34
the thesis behind why you did that yeah i know that was i know people were talking and you responded with some
01:22:40
things yesterday about that but i just wanted to kind of confront that so you've obviously been the antithesis of those big yes we have beer companies and
01:22:46
then the bbc reported that you'd actually invested i did they said 100 500 grand you say 120k yeah context and
01:22:54
so i they said i held 500 k's worth of shares i invested 500k i quickly sold it down okay so at the time they said it
01:23:00
was 500k why are you investing in the people you hate keep your friends closer closer
01:23:07
so at that time and it's it's the most stupid thing that i've ever done if i could like go back
01:23:13
and change a single thing that would be very high on the list just because of how
01:23:19
at odds it sits with our values and how we do things like companies so the intention was to try and do a distribution deal heineken felt that we
01:23:26
hated them and i then without thinking about it too much decided okay well i'm going to buy
01:23:32
this and like hey guys i can't hate you too much because i've got shares in it so that was the kind of designing concept
01:23:37
behind it and whilst we don't want to be owned by big beer business we do distribution deals with them we've done a distribution deal with asahi in japan
01:23:43
and we work with other big beer companies in a distribution basis but not an ownership basis
01:23:48
i naively felt it would help us get a distribution deal done uh we didn't get the distribution deal
01:23:54
done and yeah definitely one of the most stupid things i've ever done i would love to go back and take it back but i
01:23:59
did it i own chairs and and heineken which is kind of like i don't know luke skywalker owning shares
01:24:05
and darth vader's latest startup were you the last question i have on that topic then that's this these topics
01:24:11
more just generally is the other thing that the bbc alleged was that you were going to sell your company to heineken
01:24:16
yeah and no truth in that whatsoever so we had discussions about distribution about
01:24:22
potential partnerships but there was never any intention to sell the company and if we wanted to sell this company we
01:24:27
would have sold it a long time ago so we have had so many offers why not
01:24:32
why not sell it that'd be a big payday yeah but then the next the week after
01:24:38
what do you do how am i going to spend my time what am i passionate about let's start another beer business and then build it let's start another company and build it so
01:24:45
like if we had wanted to sell we could have sold this thing a huge valuation a hundred times over
01:24:50
i could be sitting in a yacht somewhere sipping margaritas and never have to worry about anything ever again so if we
01:24:57
wanted to solve we would have sold it it was never the intention to sell it was to see is there an option opportunity to work together strategically and
01:25:02
distribution that helps us through the business but we're fully committed to we're 15 years in we're fully committed
01:25:08
to the next 15 years and seeing where we can take this thing and that's the fun and that's the challenge and that's what we're focused on when you have you don't do
01:25:15
many interviews i don't i think you've probably been a little bit too busy with kovid and everything else going on so
01:25:21
you've not really done any interviews but you did one in the sunday times with josh glanci yeah and his sort of conclusive point in that interview was
01:25:27
um that he he thought you were obsessive someone who clearly struggles to express empathy or read social click um cues
01:25:35
um he's he's cold-eyed unsettling company and is as a determined person as i recall
01:25:42
meeting and then he goes on to say but he doesn't think you are the person that you've been portrayed to be in a negative context yeah or words to that
01:25:47
effect um but the bit that i found particu interesting of all of that was
01:25:55
the part about social cues which you've mentioned earlier in this conversation yeah so actually um off the back
01:26:02
of the time that i spent with with josh and looking at that feedback i started
01:26:07
exploring as to whether i am a little bit autistic and it's still something i'm exploring at the moment but
01:26:13
working with some specialists i think i might have some kind of light level autism in the mix that would explain some of
01:26:19
the social cue thing some of the mindset thing and some of the awkwardness as well interesting
01:26:25
39 years old that's a bit you know yes
01:26:31
because of that exact quote really because of that exact quote and i was like chatting with my doctor and i was
01:26:36
like do you think this meeting she's like i thought that for a while james quite possibly so yeah i'm working with
01:26:42
a specialist at the moment to see if there's a diagnosis there or not but it's something where something we're looking at but based on that exact quote which
01:26:48
is very spooky that you're editing well it's because you you said about social cues start the conversation and then i
01:26:54
had seen him say that and i'm putting two and two together and generally you know when i'm
01:26:59
generally when i was reading about all the bbc stuff and all the the um a lot of the sort of accusations and
01:27:04
allegations much of it felt like sometimes you would stare at people and you'd be a bit
01:27:11
socially awkward yeah yeah so and and and that can be for a lot of people you know i mean i'm
01:27:16
saying this is part of it that can be quite intimidating yeah and so look when i was reading through the feedback about people being fearful
01:27:22
and stuff i'm not saying it was because but i and putting all these pieces together just going well empathy social cues
01:27:30
you know i definitely need to do better than empathy a hundred percent and
01:27:35
it's kind of one of the learnings as well that i've been so focused that i was like well don't need any empathy because it just
01:27:42
takes up mental capital that needs to be determined resilient driving forward hitting this objective going for the
01:27:48
next goal and i think some of the issues we've had in the past has been because of that and this whole thing is a learning this whole thing is a journey i
01:27:54
think i've reflected and learned more than i have in my entire life over the last 12 months which i think we had to
01:28:00
do inside the feedback and one of the things i'm definitely working on at the moment is how can i be more empathetic
01:28:06
empathetic as a leader and i think that'll make me a better leader did you never get that feedback before before that article came out that article came
01:28:11
out last year right i think i got it but i just chose i did what i did with a lot of feedback which was chose to ignore it
01:28:19
and just keep going so it's only when you stop and pause and reflect a little bit that you look at feedback in a slightly different way
01:28:26
all of this is painful yeah this whole process is painful this the the the letter that came out from punks with
01:28:31
purpose the bbc stuff all of it's painful but um there is a silver lining
01:28:37
i'm sure because there's always a silver lining what is the silver lining the silver lining is the can the last 12 months is
01:28:45
a phenomenal opportunity for us as a business us as an employer me as a person me as a leader to get better
01:28:52
and i think we'll look back in a few years time and as tough as it's been we'll be grateful that we received that feedback
01:28:59
and we took that time to pause reflect and learn and make changes we've made more changes in the last 12 months
01:29:05
we've perhaps done in the history of the company i've made more changes my own leadership style than i have in
01:29:10
in the kind of history of the company the last 12 months as well so i think the silver lining is as tough as this is
01:29:16
this is an opportunity for us to double down on what we value as a company for us to work closer with the
01:29:23
fantastic team members we've got all over the planet and for us to build something together with them where
01:29:28
they're incentivized engaged rewarded motivated played a key part in the
01:29:33
decisions and how we're building things as well and as tough as it's been and as hard as it's been and it has been it's been hard
01:29:40
i think we are better long term because of that and that's what we're focused on doing
01:29:46
anxiety interesting topic i talk about a lot here i've experienced it myself my anxiety was it has been worse
01:29:54
and hardest to control yeah or diffuse with media related things yes
01:30:01
so yeah so tell me about your experience with anxiety
01:30:06
and and when it's been hardest and give me some give me an honest view of what when i use the word hard
01:30:12
what what what that looks like practically for you well kind of going through the last few years i've had hyper vigilance i've had
01:30:19
anxiety just when you're constantly on alert yeah yeah so you're connected jammed it jammed in can a fight fight or
01:30:25
fly and it's just been like from a business perspective it's been really tough from a personal perspective it's been tough as well so that's been uh
01:30:32
that's been a challenge and it just when you when you feel like you're under attack
01:30:37
and like we felt like we've been under siege for large parts the last couple of years
01:30:43
um and some of that has been with things which are understood as well which just kind of makes those kind of blows kind of land land tougher so you just kind of
01:30:49
feel your body kind of convulsing with the cortisol and you just feel yourself getting an edge and
01:30:54
when you're in that state you've got i've got to get myself back and even kill because i don't make my best decisions i'm not the best leader at
01:31:00
that time so how can i calm myself down i'll work on a few breathing exercises
01:31:06
death work is is really good so i usually do a daily breath work practice which i think is really key as well and
01:31:12
i think overall as a society we're trending towards being more anxious and i think our relationship with social media our
01:31:18
relationship with technology which is why monitoring how many minutes i spend on my phone each day is very very important but i think
01:31:24
the amount of anxiety we're seeing as a site in a society today is so much higher than it would have been 10 20
01:31:30
20 years ago and as a company going through these challenging times as well we've put in mental health first
01:31:37
aiders who go on a mental health first aid course we've got a huge amount of trust in business as well so 90s 90
01:31:42
yeah 90 90 across the business is starting to speak about it far more as a business and they just think with
01:31:48
lockdown with covered with everything like the impact on people's mental health and i'm glad people are talking about it more
01:31:54
is a challenge i think the more people talk about it there's less of a stigma and there's kind of more openness about
01:31:59
okay these things help with with the mental health side of things did you used to think like i did that ceos
01:32:04
weren't meant to talk about it yeah but i mean that quote that i shared with you it's like the first rule of ceo
01:32:10
psychological meltdown is not to speak about ceo psychological meltdown don't let people know it's tough don't let people know it's difficult
01:32:16
suck it up buttercup and just get on with it which works for a certain amount of time
01:32:22
it's definitely got a shelf life on it as well as a philosophy kovid was one of those moments where that really flipped
01:32:27
where in fact the way that you brought people along with you was by letting i i saw this really big shift in and letting
01:32:33
them know that you were feeling it too and in fact one of the most trust building things for teams was to turn to your team and go listen this is really
01:32:39
tough and i'm scared and it's difficult for me and i'm feeling it too and i think that that's a big that was a
01:32:44
critical moment where i learned the importance of transparency with my team not just business transparency but personal
01:32:50
transparency and and how useful that was in letting them know that we're in this together i
01:32:56
guess as well so it's nice to hear you say that because to talk about your own struggles with that yeah have
01:33:01
you have you ever been to therapy or had any sort of medical support yeah i got a therapy yeah
01:33:07
i do when did you start um i actually started when i separated from my ex-wife right um to kind of help
01:33:14
us through that transition and help us be the best co-parents we could to our two amazing little daughters through that and
01:33:21
i've continued going because i just think it's it's really useful and just kind of back to being a ceo is lonely
01:33:28
and the tendency is okay let's just bottle all this stuff and let's keep going with it i think i can be a better leader if i've
01:33:33
got someone to talk to you about those things a way to work through the difficult challenge and emotions means that i can
01:33:39
take the best version of myself to work every single day be the best leader i can and i owe it to my team to be to be
01:33:45
the best leader i can be what has therapy done for you in terms of um so that's the sounding board component but
01:33:51
is there like practical sort of mechanisms or advice that you've garnered from therapy or just an understanding of yourself i guess more
01:33:57
than anything because i think it's just an understanding of myself so um i actually did
01:34:03
last year five days of intensive therapy in the in the woods outside of nashville
01:34:08
yes i was living i was living in a little hut for for five days and kind of doing an intensive course and i think it's just
01:34:15
it's so useful and urge everyone to do that but the more you can understand how you're put together as a human and
01:34:23
so much of that is like the things that happen in your early life how that informs the filters you use to see the
01:34:29
world means you can understand your behavior and means you can avoid default patterns
01:34:35
which are which are not helping you so i would have default patterns which i would just fall
01:34:40
into subconsciously which didn't help me so now i understand okay i think this way because these things happen this is
01:34:46
how i view the world usually this is how i can put a better perspective on it this is how i can then react better in
01:34:52
certain situations as a force as opposed to following default patterns which maybe didn't help me a busy person like
01:34:57
you yeah why would you what inspired you to go and take five days out of your
01:35:02
very focused very relentless lifestyle and go and sit in a forest with a therapist two very simple reasons i want
01:35:08
to be the best dad that i can to my two amazing little daughters and i want to be the best
01:35:15
leader i can to the amazing people that work in the business and i felt okay
01:35:20
the more i can understand myself the better i can do in those two things so i did it as much for
01:35:26
my daughters my team as i did it for myself that's why i did it when we look ahead at your future with brew dog and yourself
01:35:32
um lots of grand plans the business is growing exceptionally quick in the us there's some pretty startling stats about the
01:35:38
meteoric rise of breeding across the united states you're opening this massive you shut down las vegas strip the other day yeah
01:35:45
craning something in yes it was the sign for the top of the building okay that's really ridiculous
01:35:51
but the growth in u.s has been crazy crazy crazy um what is i mean you've told me about
01:35:57
where you want to get to in terms of the industry but like on a practical level what is next for brewdog what should i
01:36:02
expect of someone looking in from the outside you should expect us to focus
01:36:08
even more in the three most important things in our business and that is sustainability that is people and that
01:36:14
is beer so tell me about that sustainability point because you are the first carbon negative
01:36:19
beer business in the world yes so we thought we were doing our bit for the planet we thought we were doing a bit
01:36:25
for sustainability and i was fortunate enough to have dinner with sir david
01:36:30
and it was just before lockdown it was in february of 2020 and i was just hit with a blindingly stark realization we
01:36:37
are not doing nearly enough and we are a part of the problem and the problem is way more severe than the night than i
01:36:42
thought the problem was so after we'd stabilized our business in the middle of a pandemic we completely pivoted and we
01:36:48
thought okay we're going to put everything on the line for what we believe in here so we found an amazing
01:36:53
expert we worked hand-in-hand with professor mike berners-lee one of the world's best sustainability experts and
01:36:59
he's been our lead scientific advisor ever since and i think it's so important to do that mood i made so many mistakes
01:37:04
in our sustainability journey if we hadn't had his help but we decided even though it's the middle of a pandemic
01:37:11
from a sustainability perspective huge change is needed today not in 2040 not in 2050 not in 2030 huge changes needed
01:37:18
today and we want to hopefully set a new standard when it comes to sustainability so we became the world's first carbon
01:37:24
negative beer business that means we take twice as much carbon out of the air every single year that we emit that
01:37:31
includes all the carbon in our supply chain we publish a report every six months it's fully transparent this is
01:37:36
the carbon footprint of our business this is how it's broken down and this is how we've then helped take that carbon
01:37:42
out of the air we've made huge investments across our business and becoming more sustainable we recently
01:37:47
invested 12 million in a bio energy facility that came online last week in ellen and this is amazing so it takes
01:37:53
our waste water and it turns our waste water into water we can use again and biomethane green gas that we can use to
01:38:00
power our system so our system is now fully powered by green gas that comes from our waste also reduces our water
01:38:07
usage and then we're also able to use that green gas to use in vehicles which transport our beer as well which we're
01:38:12
moving into so huge investments to reduce our footprint but we also wanted to take ownership of the problem
01:38:17
ourselves so our carbon is our problem let's do something ourselves so we bought nine and a half thousand acres in
01:38:23
the scottish highlands a huge chunk of land where we're creating the lost forest so we're planting millions of
01:38:29
trees to create this beautiful native broad leaf woodland and habitat rewild a
01:38:34
huge part of scotland restore peatlands that's going to help take carbon out of the air and we're causing this carbon to
01:38:40
go into the air ourselves so we wanted to be responsible for taking it out and it's been a crazy journey over the
01:38:46
last couple of years we've changed everything about our business we've put our money where their heart is in this one it's a
01:38:53
huge gamble but we fully believe that the only way we're going to get out of the climate crisis we're in at
01:38:59
the moment is businesses so we think governments and politicians are incapable of making the
01:39:05
change that needs to be made because the time skills they work on is just too long for the pain that we need to take short term so to get us out of the
01:39:12
climate crisis i think it's the best businesses working hand in hand with scientists to put things in place and i
01:39:17
think when it comes to members of the public as well they can almost have more of an impact when it comes to sustainability with how they spend their
01:39:23
money than how they vote so it's making sure that our community are engaged and excited and coming the sustainability
01:39:28
journey with us but the three pillars of our business for today and going forward sustainability looking after people the
01:39:35
best we can and making the best beers that we can one of the the allegations obviously was about the lost forest in the bbc report
01:39:41
took some time it was yeah they said that it would it was taking too long essentially to
01:39:47
it was it was publicized but then a couple years later hadn't been built yet so just to give you a chance to respond to that yeah and i think that's typical
01:39:53
of how disingenuous some of the bbc's claims were the only the singles reason
01:39:58
we hadn't started planting trees is we hadn't received the consent that we needed to start planting trees so we had
01:40:04
to do environmental studies we had to apply for permission to the scottish foreign commission we were given that
01:40:09
plan in consent last week we're starting planting in august exciting you've built a tremendous um
01:40:16
tremendous business in terms of scale and product and your customers love what you're doing you've built that cult yeah
01:40:21
in your customer base one of the pieces of advice you gave i believe it was in your book which i thought was really
01:40:27
underrated was about finance and i i sit there in the den and i
01:40:33
reflect on how i [ __ ] up many times in my own business and i think i just wish someone had said that to me when i was
01:40:38
20 years old your point about finance to quote you directly because i wrote it down you said um here goes this is the
01:40:45
single most important piece of advice in this book understand an understanding of finance essentially
01:40:51
why is that the sing through all your experience why did you choose that as the single most important
01:40:56
piece of advice and tell me your journey with finance it's the least fun it's the least
01:41:02
interesting it's perhaps the least sexy bit of your business when you've got a startup so therefore it's the most likely to be ignored but for me
01:41:09
finance is the language of business it's the score keeping system of
01:41:14
business so if you can't keep score how do you know how your business is is doing and it's something that so many
01:41:20
small business owners entrepreneurs just ignore and that is the seed of their
01:41:26
downfall and like everything else when we set up the business i mean we like to think we're punk and that we've got the same
01:41:32
diy approach so we had to learn the skills we needed to exist outside the system to
01:41:38
be able to beat the system learn the skills you need to succeed yourself so you can you can be
01:41:44
self-supporting and you don't have to depend on anyone for anything which is really important for your startup so it was just
01:41:50
self-taught but we had to self-teach ourselves how to generate barcodes how to do the paperwork for international
01:41:57
customs for shipping beer to america how to set up an online accounting
01:42:02
platform for that for the business we had we had no money like outsourcing any of these things simply wasn't an
01:42:08
option when you've got 200 pounds in the bank account so for the first eight or nine years the
01:42:15
business we were teaching on the edge of financial oblivion almost every single day and my view was
01:42:22
if we're not then we're not pushing the resources we have hard enough because we've got to be pushing we've got to be
01:42:28
stretching but it also means you've got to be very considered with how you use your
01:42:34
money with what you're investing can we find a way to do this cheaper faster better can we do this ourselves if so
01:42:39
let's do it ourselves and not spend that money there's a really important lesson in that which i also learned um which was when you're broke
01:42:45
you're forced especially the social chain was born out of me being broke at my first startup and realizing that i could no longer pay
01:42:52
for conventional ads in a newspaper and i was gonna have to think of something else because i was forced to in your
01:42:58
situation you were forced to learn finance and the fundamentals of business and you were forced to make your marketing dollar go
01:43:05
further with more radical unconventional ideas and it's funny that that's actually been a tremendous blessing
01:43:11
there's a lesson in that for teams in business about how to break through disrupt and also how to just develop yourself as an
01:43:16
entrepreneur absolutely and that comes back to a key fundamental part of our approach which
01:43:22
is love a constraint so most people look at a constraint and see it as a limiting factor
01:43:28
if you do that you've lost the game before you even start you've got to look at a constraint as a potentially beautiful catalytic force
01:43:36
that allows you to find a better way to do something so our business has all been about constraints but our
01:43:42
philosophy with a constraint is okay well we can't do this a normal way how can we find a better way a new way to do
01:43:48
that and that's where equity punks came from that's where given a where beer recipes came from that's where learning
01:43:54
the skills that we needed to succeed ourselves and doing so many things in-house came from it's by looking at a
01:43:59
constraint and using that okay this constraint is here let's make it beautiful
01:44:05
by using it as a tool to force us to think differently come at this from a different angle and to hopefully find a
01:44:11
better way to do something and you've said in your book in multiple times that you don't advise young startups to
01:44:16
outsource things to agencies even if they have the cash yeah because of that very reason yeah we talk
01:44:22
about this a lot in the den so it's really front of mind for me at the moment because all these businesses are walking into the den and saying um
01:44:29
i've got i want your 50k steve because i'm gonna give it to a marketing agency and i sit
01:44:34
in my chat and go [ __ ] i'm gonna keep the money in my pocket thank you yeah
01:44:39
that's for me that i'm out if you say that um i always give them the advice and tell them why i go because when
01:44:45
you're super early in the business and i'm sure this is similar to your rationale super early in the business you want to be as close to the data as
01:44:50
possible in the insights and the know how the knowledge and what's going to happen when it when they spend the 50k and it didn't work they'll blame the
01:44:56
product and you they will never take credit for the digit show and of course they're incentivized to over
01:45:03
sell all of these but to get your take on that why do you not outsource things when you're in that even if you had the
01:45:09
cash why shouldn't i outsource things so our view was even if we outsource things from early the partner is never going to
01:45:16
care as much as you care they're not going to know your business your customer as much as you do they're not going to be fully aligned in terms of
01:45:22
incentives with what you're trying to do so also back to that philosophy of would or
01:45:28
could another company do this if you outsource things you're going to get solutions you're going to get answers that other companies would do so
01:45:35
the more of that you can do internally still use partners for execution for reach for bits and pieces but with us
01:45:40
the more that we can do generate internally is get br2 and a voice it's going to be our mission it's going to be our passion and we think that makes it
01:45:46
more authentic and we think that means it's going to resonate better with customers which a lot of our marketing has done in the past you probably know
01:45:53
we have a closing tradition on this podcast where the last guest asks a question for the next guests yeah this guest this person has written you a
01:45:59
question which i have not read yet and they don't have great handwriting so okay um i think that says do
01:46:05
do you think your younger self would be proud look up to you now question mark
01:46:13
oh good question we're going deep i thought we're like finished with a deep question have you listened before
01:46:22
i think your younger self would be proud look up to you now i think so yes i do
01:46:28
i do and like maybe even more demons when i was younger so to
01:46:34
to kind of see that i've been able to to build something and and achieve something and
01:46:40
see that i've got like lucky enough to have two fantastic amazing little darters and stuff so i think my younger self would be would be happy which if
01:46:46
i've done thank you um not easy not easy coming here
01:46:53
[Laughter]
01:46:58
it is what it is and thank you for all of that and i hope you've enjoyed it quick one as you might know crafted one
01:47:05
of the sponsors of this podcast and they make really meaningful pieces of jewellery this lion piece they've made i
01:47:11
wear all the time along with the little timepiece the sand timer that i wear often and the lion piece you might have
01:47:17
seen conor mcgregor has a similar piece which was custom made for him for me it represents courage and if you walk
01:47:24
through my house the house that i'm in right now if you walk six feet in that direction you'll see a huge lion
01:47:30
portrait if you go upstairs you'll see a lion portrait if you look behind me on the shelf near the top there you'll see
01:47:35
a line as well the reason my house and my life is surrounded by lions is because they represent courage
01:47:41
calmness and that tenacity that i've applied to my business success to my professional life into everything in
01:47:46
between for me the lion has always been an animal that can be almost a bit of a contradiction they are so loving and so
01:47:52
caring of their own and can be powerful and courageous when necessary in order
01:47:58
to achieve what they want to achieve so if you like me are a big fan of courage bravery ambition while also being
01:48:04
calm and composed check out this line piece and let me know if you get it my girlfriend came upstairs yesterday when i was having a shower and she said to me
01:48:10
that she tried the heel protein shake which lives on my fridge over there and she said it's amazing low calories you
01:48:15
get your 20 odd grams of protein you get your 26 vitamins and minerals and it's nutritionally complete in the protein
01:48:21
space there's lots of things but it's hard to find something that is nice especially when consumed just with water
01:48:27
and that is nutritionally complete and that has about 100 calories in total
01:48:32
while also giving you your 20 grams of protein if you haven't tried the cured protein
01:48:37
product do give it a try the salted caramel one if you put some ice cubes in it and you put it in a blender and you
01:48:44
try it is as good as pretty much any milkshake on the market just mixed with water it's been a game changer for me
01:48:51
because i'm trying to drop my calorie intake and i'm trying to be a little bit more healthy with my diet so this is
01:48:56
where heel fits in my life thank you for making a product that i actually like the salted caramel is my favorite i've got the banana one here which is the one
01:49:02
my girlfriend likes but for me salted caramel is the one
01:49:08
[Music]
01:49:14
oh [Music]
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[Music]
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you
