Meet The Magnetic Collective, a quickly growing company that helps brands such as YouTube, Starbucks, Netflix and Subaru get up close and personal with the people they’re trying to reach. They do this by helping companies get to know their target audience inside and out, and gaining an intimate knowledge and cultural context critical to their clients’ success.
“We feel reassured knowing we can rely on Gouchev Law’s support in the legal area, which is critical to a growing business such as ours.”
GL: Tell us a little about you and your business
MC: We co-founded the magnetic collective 7 years ago. Our mission is to help clients uncover and develop magnetic ideas that propel their brands and businesses forward. We do this via a highly collaborative process that brings our clients up close and personal to their target audiences in different countries and grounds our thinking in their core needs and lives. We operate a hub and spoke model, with hubs in NYC and London from which we are proud to work with some of the leading brands in the world. Last year alone we traveled to 28 countries!
GL: Can you share a little about what we do for you?
MC: Gouchev Law helped us work through our key documents that we rely on for our business. The firm is on standby for any documents and contracts that we need for our internal employment and corporate needs, as well as various client engagements. Essentially, we feel reassured knowing that we can rely on Gouchev Law’s support in the legal area, which is critical to a growing business such as ours.
GL: What’s your favorite part of what you do?
MC: At the heart of each engagement, we are essentially brought in to help our clients solve a set of complex problems. This is in equal parts challenging and exciting, particularly, as each client’s concern is different. Another part of our role that we treasure is the fact that we get to have in-depth conversations with different people around the world across a huge variety of topics.
GL: What were some challenges you faced along the way?
MC: Our key challenge lies in finding great people that work for us as our business grows. We’re looking for a mosaic of qualities, experience and expertise but also the right personality and attitude to fit into our culture. Navigating our clients’ procurement department needs can be challenging at times. While it’s critical to our continued growth, navigating these demands has certainly been the source of a headache or two.
GL: What made you seek out Gouchev Law?
MC: We were connected to the firm via another company that is a Gouchev Law client. They shared the positive experiences they had with the firm and made an introduction. We were impressed with Gouchev Law from the get go.
GL: How has your experience been working with the firm?
MC: We’ve been working together with Gouchev Law for 2+ years now and continue to be delighted with the experience. The team is highly responsive to our needs and has been incredibly helpful in turning around our requests. Most importantly, they break down some of the complexities of the contracts and other legal-ese into terms we can easily understand. That way we gain more time to focus on the business itself.
GL: What is one important thing you’ve learned along the way that makes a big difference?
MC: In 7 years of running our own business, we’ve learned that the smallest, seemingly least promising opportunity can transform into an exciting, rewarding and profitable long term client relationship.
GL: We know only good things are to come for Magnetic Collective. Can you share a sneak peek what’s in store for the next couple of years?
MC: We are cautiously optimistic that we can continue our double digit growth trajectory for a while longer. With that, we may open another office before too long – location TBD.