In partnership with
You're currently a free subscriber to HSR. For the full experience, upgrade your subscription.
On this episode of Hot Smart Rich, I sit down with Natalie Holloway, co-founder of Bala—the brand that made fitness hot. Natalie’s built Bala into a $20 million business, landed a deal with Mark Cuban on Shark Tank, faced near bankruptcy, and somehow did it all while raising three kids under four.
Natalie gets real about the highs and lows of scaling a brand, from the chaos of explosive growth during COVID to the moment she almost lost everything. She opens up about what saved Bala, why she prioritizes profit overgrowth now, and how she made the gut-wrenching decision to lay off nearly her entire team—while pregnant.
We also dive deep into motherhood, ambition, and the reality of trying to “have it all.” Natalie shares what really went down with Bala’s Drunk Elephant drama, how she handles copycats, and why she thinks affiliate marketing is the future for brands.
This one is raw, honest, and full of lessons for anyone building something big.
You can connect with Natalie on Instagram: @natalieholloway, @bala & @balacize. Check out her Substack here: Working Out in Heels.
Items Mentioned in This Episode
Bala — the original workout bangles. Shop here.
Form x Bala — the set. Shop here.
Key Takeaways
You can build a $20M brand without raising big VC money. Bala’s success proves that profitability is more important than endless fundraising. Natalie and her husband bootstrapped their way to the top—then nearly lost it all.
Scaling fast can break you. Bala blew up overnight after Shark Tank and COVID, but hypergrowth almost killed the business. Natalie shares the hard truth about layoffs, cash flow, and surviving the free fall.
Motherhood and entrepreneurship? There’s no perfect balance. Natalie had to make brutal business decisions while pregnant. The real talk: founders don’t get maternity leave, and work-life balance is a myth.
Copycats and competition will come—so stay ahead. Drunk Elephant launched a Bala-inspired product. Knockoffs are everywhere. The only way to win is to innovate faster than they can copy.
The smartest founders are shifting from influencers to affiliates. Natalie shares why paying influencers big bucks is outdated and why affiliate marketing is the new power move for brands.
Negotiate like a man. Women are still underpricing themselves in business. Natalie learned to ask for more, own her worth, and not settle for the first offer.
Bala is just getting started. NYC fitness studio? More retail expansion? Natalie spills what’s next and why she’s betting big on IRL experiences and digital fitness.
Returns are killing your margins—and Freight is flipping the script. Built exclusively for Shopify brands, Freight transforms returns from a cost center into a growth driver. With instant and one-click exchanges, AI-powered fraud detection, and peer-to-peer returns, they’re making returns not just easier—but profitable. Trusted by brands like Caraway and Monos, one client even cut refunds by 21%, saving $900K. If you’re scaling a brand, this is your sign to take returns seriously. Frate is offering Hot Smart Rich readers exclusive perks and white glove service, just tell them we sent you.
HSR ICYMI is a weekly newsletter, podcast, and educational resource — its $8 a month or $80 a year. If you want to expense it and need to ask first, use this template.
♡ Phone on Airplane Mode ♡
I block off time to unplug (7-9 AM, 4-7 PM, and bedtime) to stay calm and focused without constant notifications.
♡ The Power of Saying No ♡
Before committing to anything, I ask myself: Is this worth leaving my kids for? It’s helped me prioritize what truly matters.
♡ Lemon Water & Coffee Routine ♡
I start my day with warm lemon water before having coffee with collagen—a simple habit that makes a big difference.
♡ Bangles for Walks ♡
Adding these weights to my daily walks makes movement more intentional and effective.
♡ Hot Yoga for Mental Clarity ♡
I swear by this hot yoga studio for clearing my mind—my best ideas always come during a sweaty class.
♡ Fatty 15 Supplements ♡
Most of us are deficient in this essential nutrient. I take this supplement daily for better overall health.
♡ Hot Baths & Habit Stacking ♡
I maximize bath time with a face mask, body scrub, and a podcast or meditation—relaxation with a purpose.
♡ Mouth Tape for Deep Sleep ♡
I use this tape to improve sleep quality and wake up feeling fully rested.
♡ Always Have a Side Hustle ♡
Whether it’s babysitting, real estate, or another stream of income, having a second source of income has always been a game-changer.
♡ Baby Carrier Over Strollers ♡
Life as a mom is easier when I just wear my baby instead of dealing with a stroller—this carrier is my go-to.
♡ Hot, Smart, Rich Tips ♡
♡ Hot Hack ♡
Formula Fig collagen facials for that glossy glowy skin.
♡ Smart Hack ♡
Habit stacks your commute with a podcast that feeds your brain. When I was building Bala I would take the subway every day to work from Brooklyn and listen to How I Built This or any podcast about building a company to absorb as much knowledge as I could.
♡ Rich Tip ♡
I invest with Kickfurther because they offer high-interest returns. You fund a brand's inventory, and in return, they pay you interest—sometimes as high as 20%. It's best to invest only in brands you know and trust.
♡ Favorite Part of The Conversation ♡
The end when we couldn't take a cute pic! JK it was when we talked about the hard times we went through on Bala. It was refreshing to be real and talk about the negative side too.
♡ Something People Don’t Know About You ♡
I have a real pizza problem.
♡ About The Guest ♡
Natalie Holloway — Co-Founder of Bala
Natalie Holloway is the co-founder of Bala, the brand that brought style and intention to the fitness world with its cult-favorite weighted bangles and sleek workout accessories. Since launching in 2018, Natalie has grown Bala into a $20 million business, landed a Shark Tank deal with Mark Cuban, and helped redefine what modern wellness looks like.
But her journey hasn’t been all smooth. From near-bankruptcy and explosive pandemic growth to making tough leadership calls while pregnant with her third child, Natalie’s story is one of grit, reinvention, and unapologetic ambition. Beyond the brand, she’s a mom of three, a fierce advocate for profitable growth over vanity metrics, and a believer in the power of creative marketing and brand storytelling.
With a background in marketing and a sharp eye for design, Natalie continues to push Bala forward while balancing the beautiful chaos of building a business and a family at the same time.
TYSM, I♡U!!!!
If this email was forwarded to you?