Better than awesome; all out; extreme. An adjective used to describe making the most of a situation by any means necessary, such as fully capitalizing on every opportunity, having extremely good luck, using style and charm to get what you want, and turning any bad situation into a good one and any good situation into an incredible one.
The amount of facial hair referenced is directly proportionate to the quality and intensity of the situation and its outcomes. Beards can be referred to in terms of quantity (i.e., full beard, half beard, 5 o'clock shadow) or you can name the type of facial hair directly (i.e., full beard, goatee, fu man chu, handlebars, soul patch, etc.).
Here are some examples of famous people who are full beard (actual facial hair not required, but encouraged): Arnold Schwarzenegger, Clint Eastwood, The Most Interesting Man in the World (aka, the Dos Equis guy), Keith Richards, John McEnroe.
How was your night man? We went out full beard, 150%.