72. How to build a successful brand in a competitive market | Steve Perez
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How did Steve Perez transition from a pub manager to a successful entrepreneur?
Welcome to All About Business with me, James Reid, the podcast that covers everything about business, management, and leadership. Every episode, I sit down with different guests who have bootstrapped companies, masterminded investment models, or built a business empire. They're leaders in their field, and they're here to give you top insights and actionable advice so that you can apply their ideas to your own career or business venture. What does it take to build a successful consumer brand? And how do you become one of the fastest growing companies in the UK? Today on All About Business, I'm joined by Steve Perez, founder of Global Brands Limited, the company behind drinks brands such as VK. In this episode, we discuss entrepreneurship, resilience after failure, how to build a successful consumer brand, and why Steve believes family businesses still have an important role to play in the future of the UK's economy.
Well, today on All About Business, I'm really delighted to welcome Steve Perez to the studio. He's the founder and chairman of Global Brands, the independent drinks company he launched in 1997 after, I would say, identifying an opportunity in the market for a new kind of ready-to-drink beverage leading to the creation of VK. What does VK stand for, Steve? Well, that kind of stands for vodka kick.
Vodka kick? Vodka kick, yeah. It's vodka with a kick.
What led to the creation of the VK brand?
It's got a little bit of caffeine in it, a little bit of alcohol. All right.
And it kind of gives you a boost. So for listeners, we've got a few examples on the table here in the studio, bright-coloured, quite enticing-looking drinks. that you first launched, I believe, in 1997. So Steve, just going back before that, you worked, I understand, in pubs and bars and restaurants. How did you come to start your own business and how did you end up in this space?
Well, my father was in business. He was an entrepreneur. He had a pub and a restaurant, a very successful pub and restaurant called The Red Line. and Peak Edge Hotel, which actually I bought back about seven years ago.
What strategies did Steve use to maintain control over his business?
So where were these places, just so we can picture it? In Derbyshire, in Chesterfield. And that's where you're from?
And that's where I'm from. That's where all my business is based. And my father sadly died when he was just 48. And he was in a partnership, and the partnership all kind of went wrong with him. We ended up with a family dispute. So we basically ended up with very little money. So I ended up going to work for the corporate, and I went to work for Tetley & Son, Joshua Tetley & Son, up in Leeds.
Famous bros?
Yeah, famous brewers. And I was running what they call then their fun pubs.
How did Steve navigate the challenges of a failed business?
Right. And one day my boss said to me. How did you distinguish a fun pub from another pub? Well, bear in mind in those days, you know, you go into a pub and you get a pint of bitter or a pint of mild. But we sold interesting, well, we sold lager for a start.
How does Steve define success in a competitive market?
We also sold premium bottled beers like Budweiser and Beck's and stuff like that. So fun pubs had a bit more of a range. Yeah. Yeah, and loud music and that kind of stuff. Yeah. And a nightclub. And yeah, my boss told me, he said, you know, Steve, you're doing a fantastic job. You're our top manager. You're hitting all the targets. How do you see your future? And I said, well, Jeremy, one day I want to be like you. I want your job. Well, not your actual job, but I want to be an area manager. He said, well, I'm sorry, Steve.
What role does leadership play in scaling a business?
You've got no chance. Well, why is that? He said, well, you don't have a degree, do you? No. Do I need a degree? Oh, absolutely. So you have a degree? He said, yes, I have a degree. Oh, what do you have a degree in? Greek mythology. So this is somehow helpful to me. That must be useful to run. So he says, I suggest you go and get yourself a degree and go to night school.
He must have been a bit perplexed at this.
Yes. Go to night school, get a degree. He says, yeah, and then we can get you on our graduate training course.
Right.
I thought, I didn't really enjoy education that much anyway. So I thought, you know, I don't think this, I'm not going to go anywhere.
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Chapters
8 chapters
1
How did Steve Perez transition from a pub manager to a successful entrepreneur?
0:00–1:30
2
What led to the creation of the VK brand?
1:30–2:10
3
What strategies did Steve use to maintain control over his business?
2:10–2:46
4
How did Steve navigate the challenges of a failed business?
2:46–3:01
5
How does Steve define success in a competitive market?
3:01–3:31
6
What role does leadership play in scaling a business?
3:31–9:03
7
What innovative products has Steve introduced beyond VK?
9:03–14:42
8
How is Steve addressing the challenges of inheritance tax for family businesses?
14:42–58:51
Speakers
2 identifiedMore from James Reed: all about business
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