The Entrepreneurial Struggles No One Talks About: $10M Case Study w/ Eric Bandholz
Capitalism.com with Ryan Daniel Moran
Capitalism.com
4.8 • 793 Ratings
🗓️ 15 July 2024
⏱️ 58 minutes
🧾️ Download transcript
Summary
Does it ever feel like everyone else is killing it and you’re the only one who is experiencing hard times in business?
In this world of entrepreneurship it is common and popular for people to talk about their wins but very few people are willing to talk about the struggles.
That’s why I wanted to have Eric Bandholz from Beardbrand on the show. He has been incredibly honest about his story of starting the company in 2012 with a few thousand dollars and growing the brand to almost 8 figures before disaster struck in 2023.
Last year was rough for many e-commerce entrepreneurs and I wanted to bring Eric on as an example of what it looks like to keep pushing and build a business that you actually love.
Instead of giving up and walking away, this is the story of how he pushed through and kept going.
Connect with Eric and Beardbrand at https://beardbrand.com
Head to https://capitalism.com/playbook to see how we grow and scale brands to the million dollar mark and beyond.
Scale to the $1M/year mark and beyond in the Capitalism Incubator at https://capitalism.com/inc
Connect with me on Instagram at https://instagram.com/ryandanielmoran
If you want to join us in San Diego July 21-24, shoot me an email at [email protected]
Timestamps:
(0:00) - Eric’s story
(2:50) - 7 figures is just the start
(10:44) - How Eric turned the ship around
(20:00) - Building the business that you want
(30:00) - Creating true freedom
(31:30) - Building deep relationships
(36:50) - Where does e-commerce go from here?
(50:00) - Starting your road to $1M
Transcript
Click on a timestamp to play from that location
| 0:00.0 | I had to destroy like a half million dollars of inventory. |
| 0:02.7 | Late spring was like the pit of despair. |
| 0:05.0 | The question of selling the business came up. |
| 0:07.2 | You got kicked in the teeth, all of your teeth. |
| 0:09.2 | Did it ever hurt your confidence? |
| 0:10.7 | Yeah, I mean, like you can't not have your ego affected by that. |
| 0:14.7 | I would have given up at this point. |
| 0:16.7 | There had to be days where you're just like, this is not worth it. |
| 0:19.2 | The journey is the destination. |
| 0:21.3 | I'm not doing it for an exit. I'm not doing it for a Lamborghini. I'm not doing it to be on the |
| 0:25.5 | cover of a magazine. I'm doing it because every single day that I show up, if I enjoy it, |
| 0:29.8 | I just pretty good. |
| 0:34.6 | In this world of entrepreneurship, it is common and popular for people to talk about the wins |
| 0:40.9 | and the sexy side of being an entrepreneur. There are very few people who are willing to talk |
| 0:46.0 | about the downs. And as an entrepreneur, you will experience downs. You will go through downturns. |
| 0:51.7 | You will go through hard times in business. And since so few people |
| 0:55.9 | talk about it, when you inevitably go through one of those periods in which things kind of suck, |
| 1:02.3 | you often feel alone, you often feel stuck, and you look at everybody else like they're killing it, |
| 1:08.2 | and you're the only one who is suffering. Go to any mastermind, |
| 1:11.9 | go to any business event, and listen to how people talk about themselves or their businesses. |
| 1:18.6 | Very few people will admit that they're struggling or that they're not sure what to do next or |
| 1:23.1 | that they're having a down quarter or a down year. In fact, when we experience any failure at all, |
... |
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