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How I Built This with Guy Raz
How I Built This with Guy Raz

Advice Line with Ronnen Harary of Spin Master/PAW Patrol

July 02, 2026 • 43m

Summary

⏱️ 8 min read

Overview

Guy Raz hosts the Advice Line with Ronan Harari, co-founder of Spin Master, the company behind Paw Patrol and numerous successful toys. Ronan, who recently transitioned from co-CEO to chairman, shares insights from his 30-year journey in the toy and entertainment industry. Three entrepreneurs call in seeking guidance: a jewelry designer facing surging gold prices, a third-generation beekeeper looking to scale beyond Martha's Vineyard, and a craft beer maker struggling to maintain work-life boundaries in a grief-driven business. The conversation explores strategic pivots, sustainable growth, innovation versus acquisition, and the personal challenges of entrepreneurship.

Ronan Harari's Journey: From Co-CEO to Chairman and Author

Ronan discusses his transition from running Spin Master day-to-day for 25 years to spending about 30% of his time as chairman. He's launched special projects including a worldwide AI studio and just finished writing a book titled "No Experience Necessary" aimed at twenty-somethings. The book argues that your twenties are actually the best time to start a business, despite feeling like you lack advantages. Ronan emphasizes that Spin Master maintains a 50-50 balance between acquiring legacy brands like Melissa & Doug and innovating from within.

  • Ronan now spends about 30% of his time with Spin Master, focusing on board management and special projects like the AI studio
  • His new book argues that your twenties are the best time to start a business because you have insatiable hunger, energy, and can learn quickly
  • Spin Master maintains at least a 50-50 balance between acquiring existing brands and innovating internally
  • The company acquired Melissa & Doug to stabilize revenue and balance the ups and downs of the toy industry
  • Spin Master is now in its 14th or 15th season of Paw Patrol with a third movie coming in August, following a 'Paw Forever' strategy
" It's one thing to write a book. It's another thing to, like, sell a book. It's like starting a business. So I almost feel like I'm back in startup mode again, which is kind of nice. "
" I would say you want at least a 50-50 balance. One of the things we did was we took a lot of the earnings that we made from Paw Patrol and we bought Melissa and Doug. "

Ann Williams: Navigating Gold Price Surges in Fine Jewelry

Ann Williams from Nashville runs Yearly Co., a fine jewelry brand specializing in custom-sized 14-karat gold bangles based on her grandparents' tradition. Starting in her garage in 2016 as a stay-at-home mom, she's grown the business to $11 million in annual sales. However, historic surges in gold prices over the past 12-18 months have created challenges—order values are up but volumes are down, and she's struggling with how to adapt without compromising her brand's commitment to solid gold.

  • Yearly Co. does $11 million in annual sales with 80% online and 20% in-person through their Nashville showroom and trunk shows
  • Gold price increases have forced four price increases in two years, with bangles now approaching $700
  • The company maintains 2.25 to 2.5x markup as direct-to-consumer, avoiding traditional wholesale markups
  • They've held gross margins at 40-45% on most pieces but have lost the $300-500 price point customer segment
  • About 80% of sales are bangles, with the remaining 20% being everyday pieces like earrings and necklaces
" My grandfather gave my grandmother a gold bangle every year of marriage. I decided that I could take a metalsmithing class and learn how to make a bangle in my garage. Didn't think it was that hard. It's harder than it looks. "
" Your name doesn't have the word gold in your brand. So I think you have the permission from your consumer base to do other things that are not necessarily gold and really lean into the creativity of what else that could be. "
" I wouldn't put it out there as in like that will be the limiter and the thing that I'm nervous of happening. "

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