The Reboot Chronicles with Dean DeBiase

The Art of Serendipitous Innovation

On this episode of the Reboot Chronicles Podcast, Rose Fernandez, CEO of Algenist, and I explored how her company was accidentally discovered and born in a lab, and instead of being cast aside, it was repurposed, carved out and acquired.

Throughout Rose's career, she's helped build a handful of well-known beauty companies in executive roles,  including Murad, Kate  Somerville, and Jurlique.  She joined around the time it was being spun out its parent company and acquired by Tengram Capital Partners, and eventually she took on the (her first) CEO role. Her journey was not easy,  as she stepped up to the plate with much to learn about running a company, creating ingredients—and the legal, governance and growth issues that followed.

Algae Lab Experiment to Beauty Brand

Their core ingredient, alguronic acid, was accidentally discovered for another project and later turned into a patented skincare ingredient, expanded and imbedded into their broad productline. Unlike other health, wellness and beauty brands, Algenist was born from robust biotechnology, and turned into a culture that gets the science, and can actually make the ingredients, not just source it like most brands. They pride themselves on being a safe and clean brand with natural, quality ingredients suited for the emerging mass-market.

Health, Beauty & Food

Today consumers are more educated and informed about the foods they buy and the products they put on their bodies, a trend that is headed to the mass-market. Whole Foods paved the way, informing the average consumer on quality ingredients and what is going into their bodies. This is becoming the overarching theme in the health, wellness and beauty sectors, with many brands taking the initiative to provide consumers with quality ingredients while informing and providing clarity on the benefits. Larger CPG companies are also jumping on the bandwagon, building and acquiring brands in order to leverage these new ingredient claims—but they have a way to go.

Entrepreneurial Tips

Rose shared some tips she has learned about building a business.  First, know your customer. This is key to draw them in and create appealing products. Second, find the best distribution options for your customer—DTC is just one. Three, do not just do what's currently trending. This can be a distraction; one you may have to undo later. Lastly, do not try and do everything, I have made this mistake as a CEO. Do what is true to you; this will set you apart from the rest. I might add, having some unique and patented products in your portfolio doesn’t hurt either!

On this episode of the Reboot Chronicles, I invited the head of Direct-to-Consumer (DTC) at The Clorox Company, Jackson Jeyanayagam  to discuss consumer shifts and the future of consumer packaged goods (CPG).

For over 100 years, this $7 billion dollar giant, with over 9,000 employees in over 200 markets, has been developing and acquiring market leading products that consumers rely on worldwide. With a wide assortment of cleaning oriented brands, Clorox has experienced a massive increase in demand in response to the coronavirus.  According to CNBC, Clorox reported their third fiscal quarter being a net income of $241 million with $1.89  earnings per share has increased from year prior of $187 million.

See  Opportunity, Take It

No longer just considered the company your mom buys bleach from, Clorox has worked to revamp their image with new brands tapping into the DTC space. CPG companies have pursued DTC brands to fill market whitespaces, steal share and appeal to more consumers. Clorox acquired Burt’s Bees and Nutranext,  and has been expanding their consumer facing brands, a move which also helped them segway into future investments. Jackson is continuing this growth by investing in future products, projects and companies, leveraging data tracking, creating customer brands relationships and loyalty experiences, getting new consumer insights, and creating more personalization experiences.

Dancing with Startups? Build-Buy-Borrow

As serial CEO, I have scaled companies unnaturally faster than the competition by addressing growth and innovation through a Build-Buy-Borrow lens that favors the speed and robustness of co-creation of new products, services, channels and ventures. Nowadays, it is becoming increasingly popular for larger companies, like Clorox, to simply acquire DTC companies to expand, and often that is still the smart move. Clorox on the other hand, as Jackson shares, is taking more of a hybrid approach ,not starting from scratch, but instead of investing in, white labeling, partnering or acquiring—and then assembling the right people to take over and finding what works at scale.

Opportunity  Lies Ahead for Entrepreneurs and Startups

Although there will continue to be bumps in the road triggered by the pandemic, there are new opportunities for entrepreneurs and startups to blossom. With ecommerce and Shopify type platforms, there is a lot of whitespace out there to create new ventures and growth partnerships. Jackson’s experience has taught him the importance of treating your people well, not  as a dollar sign—but as humans, while encouraging, supporting and motivating them. With motivated people and a solid path toward profitability you can be unstoppable.

Ivan Markman, Chief Business Officer of Verizon Media, joined me on the Reboot Chronicles to discuss all things tech, media, advertising and the next-gen of content for Verizon Media.

With an impressive background, Ivan also serves as an advisor, investor or director at  CreatorIQ, Measured, Holly by Nimblr.ai, TrueData, PetInsurer, Wonder, QLess, and Local ID.  At Verizon he is responsible for the advertising and media platform businesses, B-to-B partnering, and innovating around an evolving set of offerings and solutions for the future.

2020 Trends: What’s Here To Stay?

With 900 million users worldwide, Verizon has seen a profound shift in consumer consumption patterns due to the pandemic, lock-downs, and here in the US, election year impacts. Specifically, there’s been an increase of new, life-oriented content, entertainment, and finance with interest in following market volatility and what is currently happening in a somewhat upside-down world. The pandemic has realigned consumer media expectations, especially when it comes to connected TV consumption (CTV), which as of last year hit 200 million viewers and growing.

OTT vs CTV

During the course of the year, this dynamic space has seen a lot of change. They launched the Verizon Media Platform, with heavy partner participation and capabilities surrounding content delivery and video streaming. Verizon developed an integrated digital media platform to deliver, display and monetize online content on any device.  The platform has over 10,000 of the world’s largest brands and publishers including Disney, Fox, and Discovery. The crucial aspect is, as Ivan explains, is to continuously innovate when it comes to technology. Now more than ever, companies must adapt to the tech-driven digital revolution, leveraging the power of data and deploying AI for quicker optimization of assets.

Robert Foye, CEO of Accolade Wines , an amazingly thoughtful global leader who knows how to scale big-time, joined me for a fun episode of The Reboot Chronicles to dive into what’s next for one of the world’s largest wine companies, on track to be a global powerhouse.

From 1836 to The Millennials

With their first winery founded in 1836, Accolade has a fascinating history and expanding footprint, up to becoming a part of one of the largest private equity firms, Carlye Group. The company is built on a rich heritage and has been grown into a leading global wine company that produces some of the best-known brands admired worldwide. With over 70 brands and 50 vineyards, Accolade is number one in the UK market, number two in the Australia market and, in my opinion, just beginning to tap the massive potential of the U.S. and China markets....not to mention Millennials.

Shared Experiences: People-Food-Wine-Conversation

Wine has stood the test of time as it has been around since the beginning of civilization. Not everyone drinks the same bottle of wine, but it shares a commonality, bringing people together. With this mentality, Robert has led the company in newer directions, one of which is targeting Millennials. He explains when the company innovates, they use a millennial lens to create a very appealing product experience. Millennials are known for being adventurous, enjoy trying new experiences, and fond of out of the box products or services. In response Accolade has invented some cool drinks, like Madam Sass and Jamshed, two catchy, innovative brands with playful names and great taste.

Elana Drell- Szyfer, CEO of ReVive Skincare, and Algenist and This Works board member joined me on the Reboot Chronicles to dive into what’s happening in the beauty industry.

A Startup Journey

ReVive Skincare was founded in 1997 by Dr. Gregory Brown, a plastic and reconstructive surgeon who crafted the luxury skincare company. Before its founding, Brown spent most of his time dedicated to researching how to accelerate the healing process of burns on people’s skin. During the span of his research, he discovered restorative benefits to speed up healing damaged skin. Building on that research Brown built a solid foundation creating specially formulated products that rejuvenate customers changing skin behaviors. Elena calls it the “twenty-three-year-old startup” , because during its lifespan the company has been owned by Amway, while I was on their venture board, acquired by Shiseido and then acquired by private equity firm Tengram Capital Partners.

Corporates To Startups

With a long corporate career, Elena decided to make the switch to working with startups. Like me, she found that she really enjoys the challenge of working on startups. She worked with L’Oreal, Avon, Estee Lauder, and spent some time with Kenneth Cole. Before joining ReVive, she also worked with Laura Geller, where she learned the ropes. In 2017, Elena joined ReVive Skincare, taking on the role of CEO, where she rebooted the company instilling a strong sense of company culture, while keeping true to the company’s roots. For those of weighing the pros and cons of corporates vs. startups, remember to look for what will keep you professionally sustained and stimulated—while you balance Fun-Money-Purpose.

On this episode of The Reboot Chronicles, beauty health and wellness industry leader Joel Palix joins me to discuss the brand and shopping “Jungle” consumers are faced with. Over the years, Joel has been a game-changer across various industry sectors including beauty, wellness, fashion, luxury, and premium service brands. His experience has led him to advise brands, startups, and private equity funds, with this he founded  Palix Unlimited a boutique consultancy. Prior, Joel served as CEO of Feel Unique, a cool e-commerce brand selling various inclusive beauty brands ranging from skincare and fragrance to cosmetics and supplements—and is currently run by CEO, Sarah Miles.

Beauty Is A Jungle

The beauty industry is really like a jungle, as Joel explains. There are so many ingredients, claims, products, and brands, that it is overwhelming for consumers. This has led to  beauty tech solutions that help consumers navigate the jungle of choices, with personalized  diagnostics and pinpointed product  recommendations. Providing consumers personalized search for products and the option to receive assistance as needed, is becoming a preferred combination of human touch and tech.  Consumers no longer need to deal with human intervention, and can virtually try on and buy products.Revieve is a prime example, making it simple for consumers to virtually try on and buy products, through simple selfie-based solutions, in partnership with retailers, brands, ecommerce and social platforms.

The travel and leisure industry has been devastated in 2020. I invited my friend, colleague and digital thought leader, Atif Rafiq President at MGM Resorts International on the Reboot Chronicles to explore how he is helping to reboot Vegas and the global hospitality industry.

Over the years, Atif has worn a variety of hats as an exec. at Amazon, McDonald’s, and Volvo. Now, at the $14 billion dollar Fortune 300 company, Atif has a full plate overseeing marketing, sales, revenue management, direct marketing, digital products, IT, and business and corporate development. Additional key components include rebooting MGM's growth strategies including business models, customer experiences and commercial approaches. Bringing a diversity of experience, Afit describes his career pivot as “an art as much as it is a science”, with an evolving toolkit of tips you can use when rebooting your organization

Pivoting Your Culture and Taking Flight

On this episode of the Reboot Chronicles, we take a trip down memory lane with Robert Pasin, CEO of Radio Flyer, and explore why brave leaders are needed to reboot their organization's People, Platform and Passion.

Humble Beginnings

Radio Flyer was founded in 1917 by Robert’s grandfather, Antonio, an Italian immigrant who moved to America,  at the age of sixteen, searching for a better life. The young entrepreneur found work in Chicago and eventually opened a shop to continue the family carpentry tradition. His work began with furniture and cabinets and shifted to wagons after Antonio built one  to haul around his tools. This bit of serendipity eventually pivoted the shop into creating the iconic red wagon, which grew in popularity over the decades, and became a part of American history.

Engaging iPhone Kids

Through ethnographic research, Robert's team observed what people like and don’t like about existing  toys and created white-spaces to make them better, like creating longer-lasting battery-operated children's cars. This discovery led them to partner with Tesla to create a lithium-ion battery-powered mini Tesla for kids. This very cool car Platform,  is just like an actual Tesla, and allows for customizing the car's color, license plate, and allows for a phone or mp3 player plugin. Nowadays, children are drawn to devices rather than playing outside. Children spend only ten minutes a day on average compared  to approximately five hours a day using electronic devices. Radio Flyer combats this and brings innovation and fun toys for kids to use their imagination while riding in style.

Join Dean 迪恩 DeBiase and Author & CEO at OutThinker, Kaihan Krippendorff – Strategy and Innovation Speaker, business strategist, keynote speaker, former McKinsey consultant, and author of four business strategy books, for a discussion about Rebooting Companies: The new challenges in technology and strategy.

Named “one of the most creative and brilliant business minds of our time” by Forbes, Salesforce’s Global Innovation Evangelist, best-selling author, keynoter and futurist Brian Solis joined me for a fun episode on The Reboot Chronicles.

Over the years, Brian has immersed himself in mastering business market disruption, society and the future in a digital anthropologist role. Now working at the $17 billion dollar giant Salesforce, analyzing trends and technologies to gain new perspectives, he has no shortage of insights to share in and around digital transformation, innovation, cognitive experiences and human behavior.

Who Moved My Playbook?

The 2020 pandemic will have a lasting impact on all of our businesses, some permanently! It seems that most everyone is struggling to figure out their next steps without a Playbook. Brian labels it the Novel Economy, with a new normal that, in my opinion, is too new, too foreign and way too unusual for society. And, since we don't have a current Playbook, many of us are searching for the best way to re-establish forward momentum in our lives and organizations, including what specific steps to take and how to re-invent most everything.