Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with John Taylor, CEO of Commonwealth Extracts, located in Louisville, KY, USA.
What's your business, and who are your customers?
My business is Commonwealth Extracts, and we manufacture raw ingredients and finished consumer goods. We don't sell CBD; we offer trust and reliability in an uncertain marketplace. Our customers range from small start-ups to large national and international companies. What started as a clandestine lab in my basement for my personal health has grown into one of the largest facilities on the East Coast. This was all because of safety, reliability, and integrity.
Tell us about yourself
I found my craft after a near-fatal health event. I began having grand mal seizures beginning in 2007. From the onset, traditional pharmaceuticals only made the situation worse and provided no real relief. I decided to take my health into my own hands and taught myself how to make CBD oil. From our humble beginnings operating a clandestine lab in my basement, we have grown into one of the largest manufacturers on the East Coast.
What's your biggest accomplishment as a business owner?
My biggest accomplishment as a business owner is hearing about how the products we produce change people's lives for the better. Once we began selling the ingredients we made, it was like the flood gates opened, and people kept finding us out of a need for relief.
My team recently led our organization to obtain an NSF certification for Dietary Supplements and Cosmetic Manufacturing. This is a very high threshold for quality assurance and product safety.
What's one of the hardest things that come with being a business owner?
The hardest thing about being a business owner is the ever-changing regulatory environment we operate in. My military experience trained me to be nimble and adaptive, and the only constant for us IS change. With that in mind, we are continuously adapting and improving to meet the needs of consumers in an evolving marketplace.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Find your passion and a solution - the business will follow.
- Do not do it "for the money" - work for a greater good, and profit will follow.
- Do not fear failure; learn to look at it as progress. Every failure creates and drives innovation.
Where can people find you and your business?
Website: https://commonwealthextracts.com/
Facebook: https://www.facebook.com/commonwealthextracts
LinkedIn: https://www.linkedin.com/in/john-taylor-11b82a116/
If you like what you've read here and have your own story as a solopreneur that you'd like to share, then email community@subkit.com; we'd love to feature your journey on these pages.
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