My Global Hustle » Archive » YG Chats w/ Steve Stoute (Part 2)

YG Chats w/ Steve Stoute (Part 2)

I hope that you found Part One to be interesting to read. Here is Part Two of my conversation with Steve Stoute. Steve & I talked about the power of the internet, what keeps him motivated and the haters. (Part 1- Click Here)-!YG

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YG: You have received your fair share of criticism from pundits who feel that you are taking advantage of the “culture” for monetary gain. How do you respond to that?

SS: Taking advantage of knowledge that you have in order to create a career for yourself… What is wrong with that?

YG: I see nothing wrong with it…

SS: So that is my response to that question. Those individuals really need to take a look in the mirror and see what they are doing wrong. If you have experience working with artist like Mary J. Blige to handling branding work for Jay-Z… What am I suppose to be doing? For the last 15 years all I have been involved with has revolved around the culture of music. So for me not to do that with my career would be a tragedy.

YG: You previously talked about companies who once they get to a certain size become distant from their core consumer. What is your focus at Translation to maintain that relationship with the consumer?

SS: Who we hire…. I think we have a great hiring process. Staying a part of the conversation is another key element. I put myself in the position to touch the consumer. I hire execs who stay close to the consumer so we can keep our finger on the pulse. I think that is very important.

YG: Beside immersing yourself in the “retail theater” experience and your hiring process… How do you pinpoint trends?

SS: The internet gives a very good snapshot of what people are thinking, trends and what is top of mind. Listening to the consumer and really paying attention to their needs and wants. The key ingredient to pinpointing trends is to truly understand your core customer and to not have a predetermined perspective because it allows you gain valuable insights.

YG: What keeps you motivated to outperform your previous achievements?

SS: What keeps me going is knowing that there is an opportunity to make a perceptual change of a brand in the market. Helping change brand perception wakes me up every morning. Building a team of people that I love to work with and watching them prosper in addition to building their careers excites me.

The progam that we did with Reebok was very exciting for me. We took a brand that had not been relevant for years and brought it back to a place where people felt it was cool to wear Reeboks. Whether it be G-Unit, S. Carter or Ice Cream, we were able to position Reebok as a brand that was relevant to young people.

YG: What is going on with Reebok? Has that initiative run its course?

SS: The Reebok initiative was a 2-3 year program designed to bring the brand back to respectability. The program was not intended to be a long term initiative. The intention was to set the tree on fire and in turn the forest would set on fire. We needed to get the brand in a position where young people felt it was ok to wear Reeboks again. The RBK programs generated hundred of millions of dollars, so it wasn’t small potatoes. It was just designed to bring interest back to the Reebok brand.

YG: What is a typical day like?

SS: Getting up… Reading the paper and my emails. This is when I start going through the process of what ideas we can bring to the table to solve companies problems. Meeting with my team and business partner Charles Wright when I come to the office. We usually go over a recap of where we are in the business. The better part of my day revolves speaking to guys in Hollywood, Music Executives or Brand Executives to really start connecting the dots to bring smart thinking into production and eventually to the market.

YG: What books would you suggest a young entrepreneur to read?

SS: I don’t want to sound cliche, but the Tipping Point and Stranger in a Strange Land are two books that will definitely be helpful to any young entrepreneurs.