Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Jake Hadlock, CEO of Nutriient, located in Lindon, UT, USA.
What's your business, and who are your customers?
We are a contract manufacturer of dietary supplements and personal care products located in Lindon, Utah. We're a B2B business, so we make and package the products that supplement and personal care brands sell.
Tell us about yourself
I've always wanted to be an entrepreneur ever since I can remember, probably because it runs in my family. I saw a real need not being met after being in the industry on the brand side, and that's ultimately what got me started working on this business. I love being in control of my own destiny and not having to do the same thing every day. I'm deeply passionate about the supplement industry as both a consumer and a business owner and have always had a natural interest in these kinds of products, so it's exciting to be a small piece of the giant puzzle. I never would have guessed 10 years ago that I would be doing what I'm doing now, but like Steve Jobs said, "You can't connect the dots looking forward, you can only connect them looking backwards."
What's your biggest accomplishment as a business owner?
Becoming profitable has been one of my biggest accomplishments as a business owner, particularly since we didn't start with a ton of resources at our disposal and manufacturing is a low-margin business. On that same note, 8X'ing our business from Year 1 to Year 2 was huge for us. It allowed us to triple our square footage from our first location to our second location.
What's one of the hardest things that comes with being a business owner?
There's no "off-switch" - the worries and problems that come with being a business owner don't go away just because it's after hours or the weekend - or because you're on vacation! In summary...the stress.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Stop talking about the business you're going to start and start taking action on your idea now, no matter how small or imperfectly you have to start.
- You have to provide real value to your customers, or you aren't going to succeed. If you aren't better in some way, faster, or cheaper than the competition, no one is going to line up to hand over their money to you. There are likely already a lot of talented people and businesses serving the market you are entering, and there has to be a compelling reason for you to stand out from that.
- If you have a Plan B, don't start the business. You have to be all-in on your business to handle the ups and downs that come with it, and if you aren't truly committed to it, you're not going to last.
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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