Finding a buyer for your business is the main goal of many entrepreneurs, but what if you disagree with the direction that the buyer takes afterward?
Whether you’re contracted to stick around for years or simply feel an emotional attachment to what you built, you could follow in the footsteps of Michael Dell and Charles Schwab, who both regained control of their companies. So did the founders of millennial sports and culture news brand BroBible.
When Woven Digital (now Uproxx Media) purchased BroBible in the early 2010s, the partnership felt like fitting a square peg into a round hole, according to BroBible publisher Brandon Wenerd. So the bros bought their independence back and rebranded as a content studio for brands such as Ninja, Braun, Red Bull, Gillette, Bose, and Old Spice.
Wenerd told b. how the move allowed them to play to their strengths and steer clear of trendy distractions.
b.: What prompted BroBible’s shift from “dude publication” to marketing agency?
Wenerd: When we started BroBible in 2009, I was 24. The idea of marketing to millennial men who were in college, postgrad, or at the beginning of their careers was not widely embraced by the larger business community. There were channels where those ad spends went, but as the demographic has grown up — millennials now are midcareer — the marketing conversation around this audience has only grown more valuable.
b.: How did BroBible’s transition reshape the company’s strategy?
Wenerd: My light bulb moment after we took the brand back was realizing we don’t need a minimum [deal threshold] anymore. We can now work with people on a number of different budgets and sizes. …
Brands are often looking to do cool things … to reach our demographic. [For example] I packed up the new Ninja FrostVault cooler and the Ninja Woodfire grill, loaded them into my Jeep, and went on a 6,500-mile road trip across the United States to some beautiful outdoor spots. …
That’s the kind of project I pride myself on, taking creator-style initiatives and applying them to traditional digital media publishing, giving life to the product, and showing how it fits into a potential customer’s life.
b.: What advice do you have for entrepreneurs facing similar situations?
Wenerd: The way that business and culture work now — compared to 10 or 20 years ago — there is always a shiny object. There’s always the new thing you have to be doing, all these different tentacles your business feels like it needs to have, like a gravitational pull.
You don’t need to necessarily say “no” to all of those things, but you need a framework of thinking that keeps you on track [without] losing sight of who you are and what your vision is. … When TikTok started, people asked, “What’s your TikTok strategy?” We threw a lot of things at the wall with a lot of energy to eventually find our way … and it’s working. …
We’ve taken a number of shots to do the podcasting thing at BroBible because people are like, “Oh, there’s lots of opportunity, blah, blah, blah.” I get it, there is all that opportunity. What we realized was the most valuable thing to come out of podcasting for us is the information that could be contextualized and put in a written format on BroBible where we can serve ads around it, versus the inventory that comes with the podcast.