Growing a beard or goatee will in fact reduce the appearance of a small or weak chin. When the chin is small relative to the nose, the nose will look even larger in relation. By increasing the size of the chin - or at least making it appear larger - by either augmenting it with chin augmentation or growing facial hair, the nose will appear smaller.
A beard and a mustache can help disguise a weak chin profile, but not disguise a large nose. Computer imaging may also be of some help to give you an idea what you may look like after the rhinoplasty procedure. For many examples of what can be accomplished with a rhinoplasty, please see the link below
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