Finding and following the guardrails: Q&A with Michael Bush of Growthways Partners

This article originally appeared in Nutrition Business Journal's Finance issue.

Authenticity is a much talked about quality in the natural products industry but one that’s also all too often missing from enterprises large and small. Michael Bush, who led Ganeden through the development of its probiotic juggernaut BC30 and now advises companies via Growthways Partners, decided to dive into authenticity to see why and how it matters in starting and running companies. The result was “Guardrailing: Authentically Guide Your Natural Products Company from Spark to Sale.” We talked to him about the book and what he discovered in the act of writing it.

NBJ: Your book speaks of brand owners “authentically” leading their companies. How do you define “authentic” in this context?

Michael Bush: Authenticity, as I define it, means staying true to your values and making decisions aligned with long-term good, even when it might threaten short-term gains. A fitting example from the book is when the founder of a sustainable skin care brand chose to use ethically sourced ingredients, even though it significantly increased production costs. While this decision risked profitability in the short term, it ultimately built immense trust with customers who valued transparency and sustainability. This authentic approach strengthened the brand’s connection with its audience and laid the foundation for long-term success.

In “Guardrailing,” I also discuss how authenticity extends beyond consumer relations—it plays a crucial role in defining company culture and guiding overall strategy. When your business decisions are genuine, rooted in your core beliefs, and aim to create positive impacts, they lead to more enduring outcomes. In my experience, authentic leadership fosters a workplace where teams are motivated, loyal and aligned with the company’s vision, ultimately creating greater value for stakeholders and the world at large.

NBJ: Has the nature of entrepreneurship in the natural products industry changed?

MB: The landscape has shifted dramatically over the years. When I first entered the natural products industry, companies were typically founded out of principle, taking considerable risks to bring novel solutions to market. An excellent example of this was a kombucha brand that launched at a time when fermented beverages were not mainstream. Market trends or investor returns didn’t drive the founders—they were motivated by a desire to share something they personally believed improved health.

Contrast that with today, where the market is full of companies capitalizing on trends like keto, adaptogens, or “free-from” labels. Much of this is driven by influencers and the desire for quick ROI. While this approach can be lucrative, it often lacks the authenticity that once defined the natural products space. In “Guardrailing,” I argue that a brand built on solid values will withstand market fluctuations better than one built purely on profit motives. I urge founders to anchor their business in a strong purpose—something that goes beyond the latest trend and resonates with their genuine motivations.

NBJ: The era of investors throwing money at brands appears to be over. Do you see upsides in that?

MB: Definitely. The era of investors throwing money at anything trendy is giving way to more thoughtful, data-driven investment, which is a positive shift for the industry. Companies once relied heavily on paid digital advertising when investor capital was plentiful. They blanketed the market, but, ultimately, their customer acquisition cost was unsustainable because they needed to truly connect with their audience on an authentic level.

Now, investors and brands alike are using AI and advanced data analytics to target audiences more effectively, optimizing marketing spend and reaching consumers with messages that resonate. In “Guardrailing,” I highlight the importance of understanding your audience’s needs deeply and using that insight to make good decisions. For example, a brand I worked with realized that rather than marketing to the masses, they should focus on a specific community of environmentally conscious consumers. They used data to refine their campaigns, and this targeted approach not only reduced their spending but also increased their impact.

NBJ: What do other business books get wrong about the process of building a company?

MB: Many business books emphasize chasing trends and exploiting the current TAM (Total Addressable Market) for short-term gains. In “Guardrailing,” I argue that a business risks losing focus without a clearly defined Destination—a clear end goal. Too often, entrepreneurs get caught up in what’s currently trending rather than focusing on opportunities that will meet future needs, and they miss the opportunity for long-term success while chasing short-term gains.

For instance, I worked with a gluten-free snack brand that, instead of following the trend of exotic flavors, focused on creating the cleanest ingredient profile possible because they knew their audience prioritized health over novelty. This decision helped them build a loyal customer base that valued their commitment to quality. I also introduce the concept of a binary decision-making process—asking if a choice moves you closer to your destination or not. This method helps entrepreneurs stay aligned with their long-term vision rather than being distracted by the noise of fleeting trends.

NBJ: If you had two minutes with an entrepreneur the day they launched their company, what would you tell them?

MB: If I had just two minutes with a new entrepreneur, I would stress the importance of defining their destination from day one. In “Guardrailing,” I explain that it is critical to know where you ultimately want to go—whether it’s a strategic acquisition, an IPO or building a legacy brand. For example, one entrepreneur wanted to build a family legacy in organic farming. With that clear destination, every decision they made—whether choosing partners, investing in equipment or expanding their product line—was aligned with building a business that could be passed down to future generations.

It’s not enough to want to “build a great company.” Being specific about your exit strategy allows you to align your systems, investments and operational practices with that goal. The discipline to stick to this vision, especially when tempted to stray for a quick profit, is a core tenet of the “guardrailing” approach. I always tell founders: the more clearly you define your destination, the easier it is to make good decisions that will get you there.

NBJ: If you had two minutes with an entrepreneur the day they sold their company, what would you tell them?

MB: Gratitude and humility are vital, especially post-sale. I often discuss a founder who sold her company, but even though she had exited very successfully and was wealthy enough to stop working and live on an island, she continued to mentor the new leadership team for a full year post-acquisition. This transition ensured the company’s values were preserved and the new owners understood the brand’s authentic roots.

It’s important to remember that selling doesn’t mean abandoning your principles. Even if you’re stepping away, the relationships you’ve built—with your team, with your consumers, and with your buyers—will follow you into your next venture. Whether you plan to start another company, invest, or mentor, the legacy you leave behind will impact future opportunities. Even after the sale, practicing authenticity ensures you remain true to your values and opens doors for future endeavors.

NBJ: Is the learning curve steeper or more gradual for entrepreneurs than it was 20 years ago?

MB: The learning curve today can be both steeper and more gradual, depending on the aspect of the business. On the one hand, starting a business is more accessible than ever—digital tools and online resources have simplified the technical aspects of launching a company. As I mention in my book, one founder set up their entire company structure in a single weekend online, something that would have taken weeks, if not months, in the past.

However, the complexity of maintaining and scaling a business is more significant now. Navigating digital marketing, data privacy, supply chain issues and investor relations requires a steep learning curve. In the book, I stress the importance of building a supportive network of advisors who can guide you through these challenges. For example, an entrepreneur I worked with leveraged a community of mentors from different disciplines, which helped her adapt to each new phase of growth without losing sight of her destination.

NBJ: As you were writing “Guardrailing,” did you have any insights about your own career as a business leader? Things you got right? Things you wish you’d known?

MB: Writing the book was an eye-opening process, revealing insights I hadn’t fully appreciated earlier. One of the realizations I had was about my “superpower” early in my career: the ability to work long hours. I prided myself on outworking my peers, but as I reflected, I realized that true growth came when I learned to work smarter, not harder, by focusing on authenticity and aligning with my core values.

For example, I discuss a pivotal moment when I chose to step back from micromanaging daily operations to focus on strategic partnerships that aligned with the company’s destination. That decision, though it felt risky at the time, allowed the company to scale faster and more sustainably. This experience reinforced the core idea in “Guardrailing”: that good decisions are rooted in clarity, authenticity and a focus on the long term, not just the next quarter’s results.

Subscribe today to Nutrition Business Journal.