Podcast Summary
Balancing Business Growth and Sustainability: Focus on high-quality products and sustainable growth, find balance in business travel, prioritize the human element in business, and utilize rewards programs for business travel.
Some businesses prioritize sustainable growth over rapid scaling. This was evident in the story of EO Products, a natural body care company founded by Susan Griffin Black. Instead of seeking venture capital to rapidly grow her business, Griffin Black focused on creating high-quality essential oils and expanding her product line slowly and sustainably. This approach allowed EO Products to become one of the most successful independently owned natural body care companies. Another key takeaway from the discussion was the importance of finding balance in business travel. Travelers can benefit from incorporating leisure activities into their work trips to stay recharged and excited. The Delta Sky Miles Platinum Business American Express Card can help make business travel more rewarding. Additionally, Amica Insurance was highlighted for its customer-focused approach to insurance. Amica prioritizes empathy and building policies tailored to individual needs, making insurance feel more human. Lastly, the National Security Agency (NSA) was introduced as an employer offering exceptional opportunities for individuals to advance their careers in technology and cybersecurity. NSA's mission requires constant innovation and offers perks like flexible work schedules and professional development. Overall, the discussion emphasized the importance of finding balance, focusing on sustainable growth, and prioritizing the human element in business.
From struggling clothing company to successful body care brand: The founders of EO Products overcame personal and business challenges to build a profitable natural body care brand from the ground up, reaching $50 million in revenue annually
The founders of EO Products, Brad and Susan Griffin Black, built their natural body care brand from the ground up with minimal resources and faced numerous challenges, including a collapsed marriage, over the course of nearly 30 years. Before they met in the late 1980s, they both lived in San Francisco and started a clothing company called Maniac. Despite selling to major retailers like Nordstrom and having a vibrant local design community, they struggled to make a profit. Susan, meanwhile, was married to a lawyer and living a "yuppie" lifestyle that felt unfulfilling to her. Eventually, they met and started EO Products, which grew into a successful business doing $50 million in revenue a year. Despite early struggles and personal challenges, their perseverance and commitment to their vision led to the sustainable growth of their brand.
Susan's discovery of sustainability and natural products sparks lifelong partnership with Brad: Susan's job at an eco-friendly apparel company and encounter with Neil's Yard Remedy ignited her passion for sustainability and natural products, leading to a lifelong partnership with Brad based on shared values and goals.
Susan's encounter with Brad in a clothing warehouse in the late 1980s marked the beginning of a lifelong partnership, but it was their shared passion for entrepreneurship and sustainability that truly brought them together. After leaving her previous business and becoming a single mother, Susan took a job at a successful apparel company, Spree, where she was introduced to the concept of sustainability through the company's efforts to transform into an eco-friendly business. During a buying trip to London, Susan discovered Neil's Yard Remedy, an herbal store that ignited her interest in natural products. This experience further fueled her commitment to sustainability and set the stage for her future business endeavors, ultimately leading her to meet and collaborate with Brad. Their mutual respect and understanding of each other's values and goals allowed them to build a strong partnership that has lasted for over three decades.
Discovering a passion through a transformative experience: Sincerity, determination, and leveraging relationships can lead to unexpected career paths. Unique and authentic products can have a profound impact on people's lives.
A transformative experience with a product, in this case essential oils, can lead to a newfound passion and career path. The speaker discovered the power of essential oils in a small apothecary and was inspired to bring it to the US market. Despite having no money or experience, she persisted and eventually convinced the founder to let her import and sell the products. This experience taught her the importance of sincerity, determination, and leveraging existing relationships to build a business. It also highlights the potential for unconventional career paths and the impact of unique and authentic products on people's lives.
A successful business partnership starts with mutual support and commitment: Starting a business partnership doesn't require a no-brainer idea or significant financial resources. It thrives on mutual support, commitment, and excitement of the partners involved. Learning new skills and seizing opportunities can lead to success.
The success of a business partnership doesn't rely on it being a no-brainer idea or having significant financial resources from the start. Instead, it thrives on the mutual support, commitment, and excitement of the partners involved. In this case, a business relationship between Susan and Brad started with helping each other out in their respective ventures - Susan's essential oils import business and Brad's clothing company. They began with net 30 terms, meaning Susan sold the oils to Brad at cost or a little above it, acting as a distributor. The partnership was never an equity one, and finances were kept separate. Despite facing financial challenges, they managed to keep the business afloat by raising some funds from friends and family and eventually moving their operations to a shared building. When Brad's clothing business closed down, he had the opportunity to join Susan's venture, and their relationship evolved into a romantic one. Together, they learned how to make products, and Susan's business took off when Birkenstock placed a large order for a foot care kit. The partnership's success came from their shared determination, learning new skills, and seizing opportunities.
Starting a Small Essential Oils Business in the 90s: Manual Labor and Resourcefulness: Starting a small essential oils business in the 1990s involved manual labor, resourcefulness, and learning from others to increase production and source essential oils. Despite financial sustainability, the business wasn't profitable and required importing and reshipping glass bottles to expand.
Starting a small business in the essential oils industry in the early 1990s required a lot of manual labor and resourcefulness. Susan started by hand-filling bottles with salts, but eventually added equipment to increase production. Gravity feed systems allowed them to fill bottles faster and in larger quantities. However, figuring out how to make the products and source essential oils was a challenge. They learned from other small manufacturers and took aromatherapy classes. Essential oils were sourced from various distributors and came in glass and aluminum bottles. Financially, the business was sustainable but not profitable, with sales reaching half a million in the US. Despite the challenges, Susan continued to run the business as the distributor for Neil's yard, but soon realized that it wouldn't be enough and started importing and reshipping glass bottles to other stores.
Launching a business with limited resources: Identified market gap, secured small order, focused on minimal design and high-quality typography, maintained commitment to producing exceptional formulations, used initial small success as stepping stone
Starting a business from scratch with limited resources requires creativity, determination, and a high standard for product quality. In the late 1990s, Brad and Susan Branson faced this challenge when they decided to launch EO Products, a company specializing in essential oil-based personal care products. After identifying a gap in the market, they secured a small order from Bloomingdale's, which helped establish their brand. To create attractive labels for their products, they focused on minimal design and high-quality typography. Despite financial pressures and juggling family life, they maintained their commitment to producing exceptional, chemical-free formulations. Though the initial Bloomingdale's order was not a huge success financially, it served as a valuable stepping stone for their business.
Money is not the only motivator for happiness and success in business: Founders prioritize making payroll and surviving over getting rich, happiness and success come from the grind and teamwork, Atlassian uses AI for human collaboration, Masterclass provides opportunities to learn from the best, American Express Business Gold Card offers flexible spending capacity and powerful backing
While money can provide financial security for a business, it was not the primary motivator for the founders' happiness or success. Instead, they focused on making payroll and surviving, rather than getting rich. The founders learned that happiness and success come from the grind and teamwork, not just financial wealth. Atlassian, a successful company, shares this mindset, using AI to empower human collaboration and help teams accomplish what would otherwise be impossible alone. Masterclass, another sponsor, offers the opportunity to learn from the best to become your best, providing essential skills for leaders and entrepreneurs. And American Express Business Gold Card offers flexible spending capacity and powerful backing for businesses.
From rejection to success in retail: Despite financial struggles and repeated rejection, EO Products refused to give up and eventually found success through persistence and creativity.
Persistence and creativity paid off for EO Products in the face of financial struggles and rejection from major retailers. In 1996, they received a lifesaving order from Mervance department store, which helped them stay afloat and pursue a goal of getting into Whole Foods. However, they faced rejection at first and resorted to guerrilla marketing tactics, such as calling and asking in person. Eventually, they were able to get into Whole Foods, but later that year, they faced another setback when their biggest account, Mervins, decided to stop buying from them. This was a close call for the company, with their accountant even suggesting they consider folding. But they refused to give up and were given a lifeline with a $65,000 order from TJ Maxx. Through it all, EO Products persevered and ultimately found success in the competitive world of retail.
Growing a business with family pressures: Against financial and personal challenges, the couple expanded their organic personal care products company by purchasing a private label manufacturer, refusing external investment to preserve brand control.
Despite the challenges of building a business while raising a family and facing financial pressures, the couple was able to grow their small organic personal care products company by buying a private label manufacturer, even without having the full funds upfront. However, they chose not to seek large amounts of external investment to maintain control over their brand and its intentions. Their relationship as a couple was strained during this period, leading to their eventual divorce in 2007. Remarkably, they decided to keep the business running, focusing on the success of the company rather than their personal relationship.
Co-founders' decision to stay business partners after divorce: Divorced co-founders successfully navigated their personal challenges to build a thriving business by focusing on different market segments and maintaining their commitment to each other.
The decision made by the co-founders to stay business partners after their divorce was a mature and conscious choice that allowed them to build a successful company. Despite initial challenges, they were able to navigate the situation without involving a third party and found success by catering to various market segments. Their commitment to the business and each other enabled them to create a company that has not only prospered financially but also contributed to their personal growth. Even though they have moved on in their personal lives, they remain close and consider the business a significant part of their lives.
Business partnerships and friendships thrive despite challenges: Successful business relationships and friendships can be built even from challenging circumstances, through adaptability, resourcefulness, and a strong focus on shared values.
Extraordinary business partnerships and friendships can be forged even from challenging circumstances, such as a divorce. Susan and Brad Black, founders and CEOs of EO Products, have managed to maintain a successful business and friendship despite their past. They credit each other's irreverent, kind, open, and stubborn qualities for enabling them to work through disagreements and stay aligned on their shared values. Their success is not just due to hard work and intelligence but also their ability to create a strong business culture and prioritize their relationship. The story of Leah Heifetz and her partner Matt illustrates the importance of adaptability and resourcefulness in overcoming challenges and finding opportunities in unexpected places. These partnerships and friendships serve as a beacon, showing that it's possible to achieve great things with the right mindset and approach.
Building a Business with Bull Kelp: Partners Leah Heifetz and team successfully grew Barnacle Foods, selling bull kelp salsa and pickles in 150 stores, generating $350,000 in revenue, despite logistical challenges in transporting the product from Alaska.
Leah Heifetz and her partners at Barnacle Foods have built a successful business around bull kelp, a type of edible seaweed, by creating unique and delicious products like salsa and pickles. Bull kelp, which has a crunchy texture and savory umami flavor, was initially a local hit in Alaska but required more education and outreach to gain popularity in other regions. Despite the logistical challenges of transporting their products from Juneau, Alaska, the team has grown the business, selling it in about 150 stores and generating $350,000 in revenue last year. The company's success demonstrates the potential for innovative and sustainable food businesses using locally sourced and unique ingredients.
Rethinking communication and collaboration for success: Actively listen, be open to feedback, adapt behavior, seek learning opportunities to build stronger relationships and succeed at work
To find success at work and build better relationships, it's essential to rethink your approach to communication and collaboration. This means actively listening to understand others' perspectives, being open to feedback, and being willing to adapt your own behavior to improve relationships. It also means being proactive in seeking out opportunities to learn and grow, whether that's through podcasts or other resources. Ultimately, the ability to rethink and adapt is key to navigating the complexities of the modern workplace and building meaningful, productive relationships with colleagues and clients alike. So, if you're looking for practical lessons to help you succeed in your career and build stronger connections with others, be sure to check out "Rethinking" wherever you get your podcasts.
