Building a Life, Not Just a Business

The last few years have been rough for Beardbrand, the direct-to-consumer company I founded over a decade ago. Pretty much nothing has worked post-pandemic. We’re finally seeing revenue growth, but costs are rising too.

In this week’s podcast episode, I depart from interviewing guests to share my own experiences at Beardbrand and my evolution to a more balanced life.

My entire audio narration is embedded below. The transcript is edited for clarity and length.

Beardbrand’s costs are higher across the board. Advertising rates on Meta continue to increase, especially for customer acquisition. Our manufacturing and production costs are rising, as are our shipping costs. Plus, our current manufacturer is going out of business, so we have to find a new one. Thus far we’ve been unable to find one with equivalent price and quality.

We can bear higher costs only temporarily, and no business is fun if it’s not making money.

A bright spot for us is TikTok. It’s early days for us on that platform. We’ve made mistakes and learned lessons, but our sales are encouraging. Plus, we’ve found a helpful tool, Euka, to discover content creators. We are starting to see some conversions, which spurs the halo effect.

I believe in the halo effect, which is marketing that is not attributable. Perhaps a consumer sees us on TikTok Shop and then buys our products on Amazon. Perhaps he sees something on Amazon or Meta and then visits our website to purchase. It’s a funnel-building process, the halo effect.

Speaking of Amazon, we’re seeing better sales there, though it’s not sufficient for sustainability. We need to triple the volume.

Building a Life

Long-time listeners of this podcast know I enjoy talking business. It’s fun. For years, my identity has been that of an entrepreneur.

But I’ve begun assessing other aspects of my life. Is getting Beardbrand to seven, eight, or nine figures really important?

Increasingly, I have other priorities.

Anniversary. Jen and I reached 20 years of marriage last month. We celebrated by taking a trip to Norway — just the two of us, no kids. She and I have had our struggles over the years. So it was nice to connect.

Entrepreneurs know it’s not easy to run a business and also maintain a healthy relationship with their partner. So I’m proud of what my wife and I have accomplished.

Health. I’ve focused on my health lately. I’m a rower. I’m training for a regatta in July in Michigan. Rowing helps maintain my fitness and cardio, and pushes my body to limits I wouldn’t otherwise reach.

Kids. Our son is in grade school. He’s getting into swimming, which has been fun to watch and see his skills grow. Our daughter is 12 and becoming more independent. She’ll be out of the house in six years, so I’m trying to be intentional with my time with her.

I’m certainly not perfect. I’m striving for good energy and good health, which is much more challenging at age 40 than at age 30.

Travel. Our family is going to Japan this summer for a month-long camp. It will be different from our annual trip to Denmark. Sharing international experiences as a family is important to me. It costs a lot of money, but experiences grow in value over time, which we’ll never get back.

Polish citizenship. I’m exploring the possibility of becoming a citizen of Poland. My great-grandparents were Polish immigrants who came to America over a century ago. Whether I have a valid claim to citizenship remains unclear.

It’s not a normal argument for would-be Polish citizens, though I’ve met other entrepreneurs who have done it. Regardless, it’s been fun to research my ancestors and the risks they took in immigrating, which transformed the lives of my grandparents, parents, and me.

Plus, I love visiting Europe. Citizenship would allow me to stay there for longer periods.

Big Picture

Running a business puts food on our table and a roof over our heads. Yet it can become an addiction, and bad things can happen.

We might neglect our health, relationships, or loved ones. Is it worth trying to get to nine figures if you’re already making $300,000 per year?

A better addiction is leveling up your life — a healthy life with meaningful relationships — something more than a business. I hope my entrepreneur friends get the big picture.

If not, this is the reminder.