Bankruptcy to 9-Figure Exit - An Interview With Brad Pedersen
Brad Pedersen is the Co-founder of Pela and Lomi, companies focused on creating sustainable, waste-free solutions for the planet. He previously co-founded Basic Fun!, the company behind iconic toy brands like Tonka, Care Bears, and Lite-Brite, selling billions of products globally. With over 30 years of entrepreneurial experience, Brad has navigated both the highs of rapid growth and the lows of challenging setbacks, which he shares in his book Startup Santa. As a speaker and mentor, he champions intentional living, resilience, and purpose-driven leadership.
Here's a glimpse of what you'll learn:
[02:29] Brad Pedersen’s journey from toys to sustainable clean tech
[06:09] What Brad wants more of and less of in the next year
[11:51] Why Brad chose to live in Kelowna and the idea of life design
[18:05] How “topophilia” shapes fulfillment and well-being
[25:53] Why growth happens on the edge of your comfort zone
[32:25] Balancing personal development with practical application for success
[38:33] Lessons from Brad’s book Startup Santa
[43:38] How setbacks taught Brad lessons in reinvention
[46:03] Brad’s Full Spectrum initiative and its mission to help founders thrive beyond financial success
In this episode...
Few entrepreneurs are willing to navigate failure while maintaining the vision to create something extraordinary. The grind of striving for success often leads to burnout, disconnection, and whether financial success alone is enough to create lasting happiness. How does one turn setbacks into the foundation for success?
According to Brad Pedersen, a seasoned entrepreneur and author, failure is often a hidden gift. He describes his bankruptcies as “inconvenient blessings” that forced him to stop, reflect, and rebuild with greater intention. These lessons fueled his evolution from co-founding a global toy empire to launching sustainable cleantech companies. For Brad, resilience, reinvention, and staying grounded in purpose are the cornerstones of achieving not just business success but also a fulfilling life.
In this episode of The Bottom Line podcast, host Nicholas Kusmich sits down with Brad Pedersen, Co-founder of Pela and Lomi, to discuss his journey from bankruptcy to a nine-figure business exit. They explore the lessons learned from failure, the importance of intentional life design, and how to thrive post-exit. Brad also shares insights on building a legacy and leveraging business as a force for good.
Resources Mentioned in this episode
The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change by Stephen Covey
Startup Santa: A Toymaker's Tale of 10 Business Lessons Learned from Timeless Toys by Brad Pedersen
Quotable Moments
"Life is a series of happy accidents; you can connect the dots looking backward, but looking forward, it would seem crazy."
"In life, you may not be able to do all you find out, but make sure you find out all you can do."
"You don't get what you want in life; you get what you tolerate."
"It's not about how much you have; it's how much you keep and adjust your life — your haves divided by your wants."
"How you do one thing is how you do everything."
Action Steps
Embrace failures as learning opportunities: By reframing failures as opportunities for growth, entrepreneurs can cultivate resilience and innovation, leading to better outcomes in future endeavors.
Cultivate a life design mindset: Designing a life around personal values and priorities can lead to greater fulfillment and reduce the risk of living a life filled with regret.
Foster deep connections: Strengthening connections with family, friends, and like-minded individuals can lead to better mental health and support systems, which are crucial for personal and professional success.
Engage in continuous personal development: Committing to ongoing self-improvement helps individuals stay adaptable and prepared for the evolving challenges of entrepreneurship.
Balance consumption with creation: Entrepreneurs should focus on actively implementing insights and skills to create value and drive business success, rather than getting stuck in passive learning.
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