Who are you, and what do you do?
My name is Jacob “Charlie” Bessey and I am the founder and CEO of Coalatree, based here in SLC, UT. I am also a husband, an avid traveler, and outdoorsman. I also enjoy exploring new cities, live music, and hanging out with my puppy @adatewithruby
What has been one insight or lesson that has been most helpful in your career?
Learning that failure is everything, as long as it is followed up by a giant cup of perseverance and dedication to keep learning and growing at what you love to do!
What has been your favorite mistake? A mistake that in retrospect led to a great lesson and progress.
Long story short, retailers were causing the brand to go bankrupt, we decided to pull out of 200 plus retailers and 8 countries and go direct to consumer to save the brand. My 2 partners at the time did not believe this was possible and left the company, I purchased it with some new partners and within 9 months pulled out of all retailers and distributors and turned the brand into an E-commerce success!
Link to the full story here: https://www.prweb.com/releases/2017/11/prweb14875601.htm
Project forward ten years. How will your industry or field be fundamentally different then? What opportunities do you see?
I think that technology will help to continue to make products multi-use, storage friendly, and on the go friendly. The travel trend is only going to increase, which will mean people will want things quicker and better quality than ever before, thus we will be using high-speed drones for same day delivery everywhere. It would also be nice if someone could figure out how to allow customers to digitally try on clothing to see how it would fit right from there smartphone, this would help avoid any returns regarding wrong size ordered. How Coalatree will fit into this future of retail? It will be interesting to watch and see!
What are some bad recommendations you hear in your profession or area of expertise?
If you work hard enough it will all happen. This helps to drive that workaholic mentality, I grew up with this mentality and was always seeming to get burnt out after 4-5 years of cranking away at a business. What I learned in my later 20’s is that you need to take that time for your headspace. Einstein said, We can’t solve problems by using the same kind of thinking we used when we created them. – This is so true, and by taking time away from work, you allow your mind to organically make magic happen for you and solve problems you could never solve if you were at the office in a work mindset. It’s all about a balance in your life to make success happen while staying happy and true to yourself.
In the last two years, what have you become better at saying no to?
Working long hours in the office and weekends so I don’t miss the valuable times with my family.
What is the one book you recommend most often and why?
From Good to Great by Jim Collins – This book really helps to you identify the good to great mentality and how to make the most of Opportunites in life both for companies and on a personal level. A must read for any entrepreneur.
What advice would you give a smart and ambitious recent college graduate? What advice should they ignore?
1. Become a professional problem solver, don’t resist it, embrace it!
2. Take time to stop and enjoy the small successes.
3. Live a life by design not default.
All advice is worth listening too, just listen to your gut to decide if that advice works for you or not! Take everything as a grain of salt until you personally experience it.
What is your favorite quote, one you aim to live by?
“Talent wins games, but teamwork and intelligence win championships.” – Michael Jordan – Nothing can beat bringing a group of like-minded people together to accomplish the unthinkable! That is why I live by this quote in business and life.
Instagram DM me @charlie_coalatree