INspired INsider Podcast [One Question] An Expensive Business Mistake with Brian Oaks of Global Goods
When you make an expensive business mistake like Brian Oaks did early in the life of his business, it can sink you. Brian Oaks founder of GLobal Goods where they source and manufacture Agave Nectar, Coconut Oil, and Mexican Vanilla products. The company produces their own natural skincare line Cocave. They sell all over the world and do this by also providing local jobs to struggling areas like in Africa , Asia, Dominican Republic and many other nations. On this episode you'll hear how Brian and his team overcame a costly mistake early on to build a successful company and have provided jobs for many in 3rd world countries.
Here's a glimpse of what you'll learn:
- [0:11] Jeremy's introduction to his guest, Brian Oaks.
- [1:35] The lowest moment in Brian's business: an expensive mistake.
- [3:30] A recent challenge that didn't get Brian very upset (since he's endured so much).
- [4:40] The proudest moment: launching a new product line that nobody had done before.
- [6:47] Stories of sustainability Brian's company has been able to provide for others.
- [10:29] Other nations Brian is considering for new product sourcing.
- [12:50] Passions change over time - and that's OK.
Nobody wants to make an expensive business mistake, especially in the first years of their company. But if it does happen how do you overcome it to keep the company afloat? That was exactly what Brian Oaks and the Global Goods team had to discover for themselves after a purchase of coconut oil turned into a huge mistake. Hear the lessons Brian learned on this episode.
Mistakes are part of the learning curve for an early stage company. But costly mistakes are hard to recover from because they hurt the company more during the early stages. But once the mistake is made you've got to learn how to pivot and discover other alternatives that can turn the mistake into a profitable opportunity. That's exactly what Brian Oaks and his team were able to do within a few months of a huge mistake. You can hear how they handled it, on this episode.
After facing a huge mistake early in the life of his company Brian Oaks learned to take the mistakes and missteps along the road to building the company in stride. He's learned that there is always something that can be done to either mitigate the mistake or turn it into another opportunity. Find out what he learned by listening to this conversation.
It's exciting to launch a product line that nobody else has had the opportunity or foresight to create before. Brian Oaks says that one of the most exciting opportunities the Global Goods team has is to bring together the resources of an underdeveloped country and the needs of consumers into a new product line that will serve everyone. You can hear how he loves to make money for the sake of helping others, on this episode.
Brian Oaks has learned that while it's important to work on projects you are passionate about, passions change over time - and that it's OK that they do. On this episode, Brian describes the kinds of things he's passionate about these days and how the work he does through his company, Global Goods, enables him to pursue them.
Resources Mentioned on this episode Sponsor for this episodeOur sponsor today is www.Rise25.com where entrepreneurs of 6,7, and 8 figure businesses come together live and in person every few months to solve their biggest business challenges through this high-level Mastermind group. Each member leaves each week with lifelong friendships and actionable steps to take their business to the next level. Check out Rise25.com - a group run by myself and cofounder John Corcoran. Rise 25 is application only.