Podcast Episode October 29, 2024

Episode 111 | Business Lessons for Outdoor Industry Startups

Episode Summary

In this episode of the Backpacking Light podcast, Ryan and Lloyd discuss lessons learned from starting a business in the outdoor industry.

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Today’s episode of the Backpacking Light Podcast is sponsored by Garage Grown Gear, your hub for all things ultralight. Garage Grown Gear is dedicated to supporting the growth of small, startup, and cottage brands.

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Summary

In this episode of the Backpacking Light podcast, Ryan and Lloyd discuss lessons learned from starting a business in the outdoor industry.
Episode 111 - Business LEssons for Outdoor Startups

In this Episode:

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Business Lessons for Outdoor Industry Startups

  • Lesson 1: Simplify to amplify.
  • Lesson 2: Output (value) is a result of input (work) – if you’re doing the right type of work.
  • Lesson 3: What’s the monetary value of the time you (the founder) spend doing work for the company, and why does it matter?
  • Lesson 4: This isn’t a crisis, this is your business.

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Home Forums Podcast 111 | Business Lessons for Outdoor Industry Startups

Viewing 4 posts - 1 through 4 (of 4 total)
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    Posts
  • #3820965
    Backpacking Light
    Admin

    @backpackinglight

    Locale: Rocky Mountains

    Companion forum thread to: Podcast 111 | Business Lessons for Outdoor Industry Startups

    In this episode of the Backpacking Light podcast, Ryan and Lloyd discuss lessons learned from starting a business in the outdoor industry.

    #3821019
    Ryan Jordan
    Admin

    @ryan

    Locale: Central Rockies

    I love thinking about the analogies between “doing an expedition” and “running a business”. The one that Lloyd brought up in this episode, “simplify to amplify” is really profound when you think about the impact this philosophy has across multiple areas of your life. When we’re spread too thin, it seems like mediocrity is the only inevitable outcome.

    #3821941
    Steven Evans
    BPL Member

    @steve_evans

    Locale: Canada

    I really enjoyed this one. I had to chuckle a bit at the similarities between an expedition and a business, mainly because I consider myself quite competent on executing big trips, yet admittedly struggle with many aspects of running a business…lol

    #3822337
    simon t
    BPL Member

    @slippery-salmon

    Work to satisfy the top 1% of enthusiasts (the super committed, not the super rich).  They’ll influence the top 10%, who’ll influence the rest, all the way down to the casual hobbyist and average joe.

    In my business, I came from the the serious hobbyist community and all my products and how I conduct business are viewed through that lens.  I don’t spend on advertising, there is always a clever way of getting out there.  For example instead of freebies for review, I offer reviewers a discount and early access (the offer stands regardless of what they say and I make the same as selling tona retailer).  I sell everything I make and my facilities are running at max capacity.

    When satisfying enthusiasts, you need to consider your reputation with every move you make.

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