Gymshark founder Ben Francis talks Side Hustles and how to build a billion dollar company! | Summary and Q&A

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June 7, 2021
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Simon Squibb
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Gymshark founder Ben Francis talks Side Hustles and how to build a billion dollar company!

TL;DR

Ben Francis, the founder of Gymshark, shares his journey from building his first website to creating a successful global brand in the fitness industry.

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Key Insights

  • 🤑 Starting a business doesn't always require a large amount of money. Creativity and problem-solving skills can help overcome financial challenges.
  • 👨‍💼 Persistence and incremental improvement are crucial in building a successful business.
  • 🥺 Failure and setbacks are an essential part of the entrepreneurial journey and can lead to valuable learning experiences.

Transcript

Who am I meeting today? None other than Ben Francis, the founder of Gymshark. I built a website that would sell number plates or registrations for cars and vehicles online. That was the first thing that I ever did. I taught, I taught myself to make iPhone apps, so made for iPhone apps. A big driving factor was just a desire to be involved in fitnes... Read More

Questions & Answers

Q: How did Ben Francis develop his entrepreneurial mindset and skills?

Ben gained exposure to entrepreneurship through his grandparents' businesses and his work experience with his granddad. He taught himself programming by using online resources like YouTube and constantly tried and failed until he found success.

Q: Did lack of funding ever hinder Gymshark's growth?

Gymshark was built without external funding. Ben structured the business to be consumer-focused, product-focused, and brand-focused. He learned to think creatively and find alternative solutions to financial challenges.

Q: How did Ben maintain his hunger and motivation in his entrepreneurial journey?

Setting achievable goals and celebrating incremental successes helped Ben stay motivated. He remained focused on his passion for fitness and providing opportunities for others while continuously improving his business.

Q: Did Ben face any moments of doubt or failure?

Ben experienced numerous moments where he doubted his progress, but he always set his expectations low, focusing on small wins. His persistent optimism and willingness to learn from failures played a significant role in his success.

Summary & Key Takeaways

  • Ben Francis started his entrepreneurial journey by building a website to sell number plates online and then taught himself to create iPhone apps.

  • Gymshark was initially a side hustle and took months to get its first sale. Persistence and creative problem-solving were crucial to its success.

  • Ben emphasizes the importance of setting achievable goals, remaining optimistic, and focusing on incremental improvement.

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