Kevin Moran, a former professional athlete and co-founder of Beam, shares his remarkable journey from sports to wellness entrepreneurship. He emphasizes the power of consumer feedback in launching products and discusses the importance of building a trustworthy brand in a skeptical market. Moran highlights how funding can change business dynamics, sharing insights on balancing growth with stress when external investors are involved. He also details the innovative use of CBD to improve sleep, showcasing its growing significance in wellness.
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question_answer ANECDOTE
Career-Ending Injury
Kevin Moran's baseball career ended after a series of injuries, including two blown knees, Tommy John surgery, and a torn rotator cuff.
This experience gave him perspective and resilience, which he applied to his entrepreneurial journey with Beam.
insights INSIGHT
Conviction Over Comfort
Despite personal and professional stability, Kevin Moran and his co-founder, Matt Lombardi, pursued their vision for Beam.
They believed there was room for a high-quality brand in the CBD market.
volunteer_activism ADVICE
Small Steps, Big Results
Break down large goals into smaller, manageable steps, similar to training for an Ironman.
Focus on achieving small results and building upon them.
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What the Rich Teach Their Kids about Money - That the Poor and the Middle Class Do Not
C.P.A. Sharon L. Lechter
Robert Kiyosaki
The book tells the story of Robert Kiyosaki's two fathers: his 'poor dad,' a highly educated but fiscally poor man, and his 'rich dad,' the father of his best friend who was a successful entrepreneur. It emphasizes the importance of financial education, distinguishing between assets and liabilities, and building wealth through investing in assets such as real estate and businesses. Kiyosaki argues that a good education and a secure job are not guarantees for financial success and provides practical lessons on how to make money work for you rather than working for money[1][3][5].
The obstacle is the way
Ryan Holiday
In 'The Obstacle Is the Way', Ryan Holiday presents a framework for turning obstacles into successes. Drawing from the philosophy of Stoicism and the writings of Marcus Aurelius, Holiday outlines three disciplines: perception, action, and will. He illustrates these principles with historical anecdotes from figures such as John D. Rockefeller, Amelia Earhart, Ulysses S. Grant, and Steve Jobs. The book emphasizes the importance of perception in shaping one's response to obstacles, the need for intentional and creative action, and the cultivation of will to persist through challenges. Holiday argues that by adopting these Stoic principles, individuals can transform their obstacles into opportunities for growth and success.
From the archive: This episode was originally recorded and published in 2021. Our interviews on Entrepreneurs On Fire are meant to be evergreen, and we do our best to confirm that all offers and URL's in these archive episodes are still relevant.
Former professional athletes turned entrepreneurs Kevin Moran and Matt Lombardi started the wellness company Beam offering products that harness the benefits of natural, non-toxic, nano CBD and other high-quality ingredients.
Top 3 Value Bombs
1. There’s nothing better than consumer feedback and getting the product to market. You have to test it and see what people think.
2. In a high skepticism, low trust space, you have to have the revenue equation and all the metrics that show a healthy business, but also build a beautiful brand.
3. When you bring in funding, it changes the game in terms of people who are involved in the business. There’s a different level of stress that’s associated with a business that has other people’s money involved.
Sleep affects everything, and a quality night’s sleep is easier than ever with Beam’s Dream powder. Subscribe now to get 35% off your first month of Dream, PLUS get a free mug and frother - Beam Organics
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