Patrick Coddou’s entrepreneurial journey is spectacular. In 2015 he launched Provide, a direct-to-consumer vendor of razors and shaving items, after which bought the enterprise in 2022. He conceived the concept, employed workers, scaled income, and exited profitably.
His journey is incomplete, nonetheless. His abilities apply to seemingly any trade, however his identification for years was tied to Provide. He’s now adjusting and charting his subsequent strikes.
Patrick is among the many hottest visitors on this podcast, beginning in 2020 and adopted by appearances in 2021, April 2022, and October 2022. On this current dialog, he shares his post-Provide life, the feelings of stepping away, and searching ahead.
Our whole audio is embedded beneath. The transcript is edited for size and readability.
Eric Bandholz: Replace us on what you’ve been as much as.
Patrick Coddou: It’s been fairly a journey. I used to be the founder and CEO of a shaving firm referred to as Provide, which I bought a little bit over two years in the past. After the sale, I stayed with the corporate for a few yr, working the enterprise and seeing it develop. I’m presently the pinnacle of promoting at a snow ski startup referred to as M1 Skis. It’s been a little bit of a curler coaster, however in a great way.
Bandholz: You took a step again from social media, notably X. Why?
Coddou: After the sale, I hit burnout. I didn’t consciously determine to go away X — I simply stopped participating. Burnout comes with apathy and disinterest in issues that after excited you, and X was a type of issues. I stayed concerned with Provide for a yr after the sale, although, and it was productive. We doubled our top- and bottom-line numbers.
I had constructed a powerful crew, particularly a succesful head of promoting, Hint Crawford, who took rather a lot off my plate. Because the yr progressed, I turned extra of a frontrunner and fewer of a doer, which helped me navigate the burnout. That was a giant a part of the transition.
Bandholz: How does management change if you cease doing all the things your self?
Coddou: It helped that I now not had possession, so I didn’t carry the identical emotional weight. Nonetheless, I used to be nonetheless financially motivated, as an earn-out was tied to the enterprise’s efficiency. That allowed me to information the crew with out micromanaging. They knew what wanted doing, and I allow them to work out how. Our crew was stable; nobody left that yr, and the corporate continued to carry out properly.
Bandholz: You’re now exterior of Provide. How has your perspective modified?
Coddou: My earn-out led to August, however I had already stepped away from day-to-day operations a yr prior. Hint took over as CEO, and I stayed on as a advisor. My position now contains filming advertisements and providing strategic recommendation. I’ve zero regrets about promoting the enterprise — it was the precise transfer for me, my household, and the corporate.
However stepping away did pressure me to confront my identification. I hadn’t realized how a lot of my self-worth I tied to being the “razor man” till that was gone. After the sale, I skilled a way of pleasure, adopted by a profound interval of questioning and even melancholy. After the burnout, I felt misplaced, not sure of what I wished to do subsequent, and hesitant to return to ecommerce.
Bandholz: Why do entrepreneurs really feel unfulfilled after promoting their enterprise?
Coddou: Many entrepreneurs imagine that promoting their enterprise will carry happiness, however that’s not often true. I attended the Major Avenue Summit, the place we mentioned how cash, success, and fame don’t carry pleasure.
I’ve realized that promoting Provide has introduced me monetary consolation and freedom however didn’t present lasting happiness. Work is important for locating pleasure and goal, and I’ve come to understand that I must be constructing one thing, whether or not a enterprise or a private mission, to really feel fulfilled.
Bandholz: Inform me about your position at M1 Skis. Was this a deliberate path or a possibility that fell into your lap?
Coddou: It was a little bit of each. I’m working advertising for M1 Skis, a startup in its early levels. Once I joined, there was virtually no public consciousness of the corporate. I’m accountable for constructing the model from scratch, which I like doing. I work part-time, remotely, and for a pal. It’s an ideal match. Initially, I hesitated to return to work, however this chance was too good to move up.
Bandholz: How do you method advertising for M1 Skis in comparison with Provide?
Coddou: The advertising methods are surprisingly comparable. At Provide, we bought high-end razors, which required educating prospects about why they need to put money into a dearer product than rivals. It’s the identical problem with M1 Skis.
Not like something in the marketplace, we make our skis from stable aluminum. They’re dearer than conventional skis, and persons are skeptical in regards to the know-how. My job is to elucidate why our product is definitely worth the funding and construct buyer belief via schooling and engagement.
The expertise has been nice. I get to deal with the issues I take pleasure in — like constructing the model — with out coping with the complications of payroll or invoices. One of the best half is that I don’t lose sleep like I did with Provide. I’m nonetheless invested in M1’s success, however it doesn’t devour my ideas 24/7. I can totally try after I’m not working, which is a big aid.
Bandholz: Might you envision beginning one other enterprise?
Coddou: I may, however I might method it very in another way. I might create a small, manageable enterprise with minimal stress. One thing that aligns with my way of life, even when it means making much less cash. It will be area of interest, high-margin, and never reliant on fixed social media or stock administration. I desire a enterprise that works for me, not one which provides pointless problems to my life.
Bandholz: You’re advocating for simplicity.
Coddou: Precisely. The complexity of Provide turned overwhelming. We used 30 apps on our Shopify retailer and a number of social media channels. It was rather a lot to handle. At M1 Skis, I’ve saved issues easy. We’re utilizing Shopify E-mail as a substitute of a extra advanced service like Klaviyo, and I haven’t put in any further apps. This method permits me to deal with constructing an incredible product and telling its story.
Bandholz: The place can folks purchase these skis and attain out to you?
Coddou: M1skis.com. I’m on LinkedIn and X.
