🔑 Key Takeaways
- Ben Francis' success can be attributed to the valuable lessons learned from his granddad about taking calculated risks and his mom's hard work ethic, along with practical skills gained through education, shaping him into a successful entrepreneur.
- Surrounding oneself with great people and being open to learning from them greatly contributes to the success and growth of a business.
- Constantly seeking knowledge and advice, and surrounding oneself with a diverse team of experts, can lead to valuable insights and opportunities for building a successful business.
- Starting a business requires problem-solving and resourcefulness. As the business scales, hiring experienced specialists and navigating potentially challenging conversations are crucial for overall growth.
- Clear roles and responsibilities are crucial for a successful business. Surround yourself with great people and constantly work on self-improvement to overcome weaknesses and actively bring about positive change.
- Embracing self-awareness allows us to identify our weaknesses objectively and seek opportunities for improvement, while learning from others who excel in areas where we struggle enhances our own abilities.
- Recognizing strengths and focusing on them, trusting others' expertise, and embracing learning opportunities are essential for personal and professional development.
- Ben Francis' diverse experiences within Gymshark have shaped his understanding of the company, motivating him to continue growing and proving his ability to effectively run the business.
- Ben Francis embraces the challenges of being a CEO, prioritizing the business and its people, while also valuing personal growth, empathy, and understanding in his leadership style.
- Seek the best outcome, embrace constructive feedback, focus on passions, simplify for efficiency, identify weaknesses and continuously improve.
- Seek a coach, practice phrases and stories, and become comfortable on stage to overcome nervousness and become a skilled public speaker.
- Success is attainable for anyone. Possess problem-solving skills, an open mind, and self-awareness. Embrace opportunities and create something meaningful in your own life, whether through business or personal growth.
- Being transparent and accessible as a CEO can protect against attacks and misconceptions, allowing you to control your image and prevent others from defining you. It is crucial to manage your personal brand and adapt to challenges like remote work.
- The pandemic posed challenges for managing staff working from home, highlighting the importance of supporting mental health. While remote work has benefits, physical offices offer valuable opportunities for growth, inspiration, and collaboration.
- Building a successful business requires overcoming challenges, investing everything, hiring great talent, and ensuring everyone is committed to the brand. Pressure can be a privilege on the path to success.
- Surround yourself with intelligent, adaptable, and resilient individuals. Learn from them, work hard, and never stop learning. Treat your business like a team, recruit top talent, and don't let failures define you. Manage stress and anxiety on your entrepreneurial journey.
- Resilience is essential for leaders facing criticism and backlash. By prioritizing support, education, and growth opportunities, businesses can create a stronger and more inclusive environment.
- Ben Francis reflects on the importance of open communication about emotions, breaking the generational cycle of emotional suppression, and prioritizing family to create a supportive environment for future generations.
- Gymshark's founder, Ben Francis, is dedicated to creating a global brand that inspires people physically and mentally, transcending borders and becoming truly iconic.
- Businesses must embrace change and cultivate a culture of adaptability to thrive in a constantly evolving world and stay ahead of competitors.
- Gym Shark, known for its dedication to self-improvement, plans to open a flagship store in London, aiming to create a community-centric environment while maintaining their niche focus on gymwear.
- Passion is the driving force behind building a successful business; aspiring entrepreneurs should find something they are truly passionate about to fuel their dedication and resilience in the face of challenges.
- Don't fear failure, embrace it as a stepping stone towards success. Keep a stable job while pursuing your business and use it as a financial support and a platform for new ventures.
- Success requires a combination of hard work and strategic decision-making. Time is valuable and should be used effectively to support personal growth. The CEO's journey inspires others to believe in their ability to achieve greatness.
📝 Podcast Summary
Shaping a Success Story: Early Influences and Experiences
Ben Francis attributes his success and unique mindset to two important factors in his early years. Firstly, his work experience with his granddad, who taught him the value of hard work and exposed him to conversations about business risks and intricacies that most young kids wouldn't have experienced. Through his granddad's story of taking a significant risk in the business, Ben learned the importance of taking calculated risks and realized that his own risks pale in comparison. Secondly, he credits his mom's hard work in the NHS as a significant influence on his work ethic. Additionally, being fortunate enough to study a BTEC in IT in school provided him with practical skills that enhanced his interests and passion for technology. These early experiences helped shape Ben into the anomaly he is today, leading a successful global brand at a young age.
Embracing Collaboration: The Key to Business Success
Surrounding oneself with great people and being willing to learn from them is crucial for the success and growth of a business. Ben Francis, the speaker, initially had a vision for his business and was determined to take it where he wanted, but he eventually realized the importance of collaborating with others. He recognized that as the business grew, he needed to change and adapt as a person in order to meet the demands of the business. By being inquisitive and seeking out knowledgeable individuals, such as Paul and Steve, he was able to learn from them and develop a more collaborative mindset. The lesson here is that being open to learning from others and embracing the expertise of those around you can greatly contribute to the success of a business.
The Power of Never-Ending Learning
Being an insatiable learner and having a thirst for knowledge can provide an unfair advantage in life. Ben Francis shares his experience of constantly asking questions and seeking advice, which ultimately led to valuable insights and opportunities. His obsession with learning, whether it be through playing World of Warcraft or engaging in high-performance conversations, has shaped his perspective and approach to building a successful business. Additionally, Ben emphasizes the importance of assembling a team with diverse skills and expertise, similar to the Avengers, where each member contributes their unique strengths. Starting a company may require individuals who are passionate, believe in the vision, and are willing to go the extra mile, even if it means cutting corners initially.
Navigating Challenges in Business Growth
The early days of starting a business require problem-solving and resourcefulness, especially when operating on a limited budget. It is important to find ways to work with what you have and adapt to new challenges as the business grows. As the business scales, hiring experienced specialists becomes necessary to lead key departments, which can create challenges when considering the loyalty and fit of early employees. Self-awareness is crucial in navigating these conversations and making decisions that are best for the overall growth of the business. Differences in opinions and personal interests may lead to the parting of ways with co-founders, but it doesn't necessarily diminish the value of the friendship that was formed in the early days.
Importance of Clear Roles and Responsibilities in Business
Clear roles and responsibilities are crucial for a successful business. Without them, things can become confusing and messy. In the early stages, having a co-founder can be important as it provides support and helps navigate the challenges of starting a new venture. When one co-founder left, there was a period of difficulty as things changed and a new dynamic had to be established. It was during this time that the speaker realized the importance of focusing on their strengths and constantly working on self-improvement. They didn't want to be defined by their weaknesses and actively worked on overcoming them. Surrounding oneself with great people can be a valuable asset in this process. Ultimately, it's essential to identify personal characteristics that need improvement and actively work towards change rather than simply accepting them as fixed traits.
The Power of Self-Awareness and Personal Growth
Self-awareness is crucial for personal development. Ben emphasizes the importance of acknowledging our weaknesses and finding ways to improve them. He suggests that instead of identifying with our flaws, we should approach them as problems to be solved. Ben also highlights the value of learning from others who excel in areas where we struggle. By observing their actions and adopting their positive traits, we can enhance our own abilities. Additionally, Ben shares his experience with a 360 feedback process, which provided him with a comprehensive assessment of himself. Although initially defensive, he ultimately realized the truth behind the feedback and understood the need for personal growth. Overall, being self-aware opens the door to self-improvement and development.
Self-awareness, strengths, and learning for growth
Self-awareness and focusing on strengths can be key to personal and professional growth. Ben Francis discusses how he recognized his weaknesses and strengths and made the decision to focus on his strengths rather than trying to improve his weaknesses. This allowed him to excel in areas such as creativity, product, and brand, which were his strengths. Additionally, he acknowledges the challenge of moving someone else into a role where they excel better than him, but he uses it as motivation to improve and learn. Ben emphasizes the importance of trusting the judgment and expertise of others, even as a founder and majority shareholder, to build a successful business. Overall, self-awareness, recognizing strengths, and embracing learning opportunities are vital for personal and professional development.
Ben Francis: From CEO to Finding His Genuine Home
Ben Francis has experienced a lot of role changes within the company, from CEO to brand, marketing, product, and tech. Despite feeling a bit lost at times and being moved around like a chess piece, he has finally found his genuine home in the CEO role. The decision to step back into the hardest role of all was influenced by Steve, who had confidence in Ben's ability to lead. The business has grown significantly over the years, with 900 employees and multiple offices worldwide. Ben's diverse experiences in different areas of the business have provided him with an intricate understanding of the company's operations. Ultimately, Ben's fear is to be seen as someone who can only start a business but not effectively run it, which motivates him to do more and continue growing Gymshark.
Leading Gymshark with Love, Growth, and Empathy
Running Gymshark at its current scale as a CEO is a bigger challenge for Ben Francis than starting the business. Despite the potential downsides, such as having the ultimate responsibility for problems and crises, Ben genuinely loves his role and the people he works with. He sees it as an opportunity for personal growth and aims to be the best version of himself. While he always puts the business and its people first, he also has ambitions for himself. Ben has learned from his past mistakes, including being direct and insensitive in giving feedback, and now recognizes the importance of empathy and understanding. He values different opinions and intentions and believes in providing feedback while respecting others' perspectives.
Embracing Change for Growth
Being open to challenges and embracing change is crucial for personal and professional growth. Ben Francis emphasizes the importance of seeking the best outcome, regardless of whose opinion it is. He is not interested in surrounding himself with yes-men but wants constructive feedback to improve. Ben also shares that he is not a perfectionist and struggles to focus on things that don't interest him. However, when something aligns with his passion, he can obsess over it for months. He simplifies his daily outfit for efficiency and avoids decision fatigue. Additionally, Ben highlights the significance of making lists to identify weaknesses and actively work on improving them, such as his public speaking skills. Overall, this conversation underscores the value of continuous learning, adaptability, and self-awareness.
Preparation and Practice: The Path to Effective Public Speaking
Effective public speaking requires preparation and practice. Ben Francis discovered the importance of seeking out a public speaking coach and taking lessons to improve his skills. He emphasized the value of being well-prepared with phrases, sentences, and reminders in order to overcome nervousness and start speaking confidently. As he gained more experience, he developed a repertoire of stories and phrases to draw upon. The key principle is to become comfortable on stage, which allows for better processing of questions and thoughtful responses. By continuously practicing and pushing oneself to say yes to opportunities, one can become a skilled public speaker.
Success without borrowing money or extensive knowledge is possible. The inspiring story of Gym Shark founder Ben Francis teaches us key attributes for success and the endless opportunities that exist in the world.
Starting a business and achieving success is possible, even without borrowing money or having extensive knowledge in a specific field. The founder of Gym Shark, Ben Francis, emphasizes that being a problem solver, open-minded, and self-aware are key attributes for success. He acknowledges that luck played a significant role in his own journey but believes that there are opportunities everywhere in the world that are waiting to be explored. Furthermore, Ben Francis wants to provide inspiration and lessons for others, even if they don't want to start their own business. The story of Gym Shark serves as a testament to the possibilities and encourages individuals to create something meaningful in their own lives.
The Power of Transparency and Personal Branding for CEOs
Being a transparent and accessible CEO can serve as a defense mechanism against attacks and misunderstandings. By being open and allowing people to see your true self through various channels like interviews and vlogs, you provide a reference point that refutes false narratives created by the press or others. It also enables you to control your own image and prevent others from defining you. However, there is also a balance to strike, as some CEOs prefer to focus on building their businesses before becoming public figures. In the age of social media, it is crucial to carefully manage your personal brand and ensure that others do not control the narrative about who you are. Additionally, the conversation touched on the challenges of being a CEO during the COVID-19 pandemic, highlighting the importance of adaptability and technology in enabling remote work.
Navigating Challenges: Managing through Difficult Times and Remote Work
Managing through difficult times and uncertainty can be incredibly tough, both personally and professionally. Ben Francis, the founder of Gymshark, shares his experience of navigating the challenges brought about by the pandemic. While the business did well commercially due to increased online shopping and home workouts, managing staff working from home and supporting their mental health was a significant challenge. The conversation also touches upon the debate surrounding remote working and the role of physical offices in fostering community, culture, and learning opportunities. Ultimately, the key takeaway is that while remote work can have its benefits, being in an office can provide valuable opportunities for growth, inspiration, and collaboration.
The Challenges and Rewards of Building a Business: Lessons from Gymshark Founder Ben Francis
The journey of building a business involves facing countless challenges and pressures. Ben Francis, the founder of Gymshark, shares his experiences of investing everything and managing rapid growth, highlighting the everyday problems that often go unnoticed. He also emphasizes the importance of ensuring that everyone in the team is truly committed to the brand and works efficiently. Reflecting on his early days, Ben realizes that he underestimated the significance of building strong foundations and hiring great talent. Both Ben and his conversation partner acknowledge the transformative power of hiring exceptional people and recognizing their own limitations. Ultimately, they recognize that pressure can be a privilege within the context of Gymshark's unique and special story.
Importance of Surrounding Yourself with Great People and Continuous Learning for Success
Surrounding yourself with great people is crucial for success. Ben Francis emphasizes the importance of learning from and being inspired by individuals who are on a higher level of intelligence, adaptability, and resilience. He acknowledges that these skills are developed through hard work and continuous learning. Ben also compares the dynamics of a business to a football team, where each member contributes to the overall success against competitors. Furthermore, he highlights the significance of recruiting and nurturing top talent in order to create a successful company. Lastly, both Ben and the interviewer recognize that failure is inevitable in business, but it should not define one's identity. The conversation also briefly touches upon the topic of managing stress and anxiety in the entrepreneurial journey.
The Importance of Resilience in the Face of Criticism and Backlash
Resilience is crucial when facing criticism and backlash. Ben Francis experienced an overwhelming amount of negative attention due to a comment made by an employee, which resulted in death threats and thousands of messages. Despite feeling hurt and anxious, Ben recognized the importance of resilience in his role as a leader and the need to prioritize the business and its employees. He understood that mistakes can happen, even with good intentions, and chose not to support cancel culture. Instead, he believed in providing support, education, and growth opportunities for individuals who learn from their mistakes. By fostering resilience and maintaining a focus on progress and positive change, a business can thrive and create a stronger, more diverse, and inclusive environment.
Breaking the Cycle - Embracing Open Communication and Prioritizing Family
Ben Francis acknowledges his struggle with expressing his feelings and the societal pressure on men to be stoic. However, he recognizes the importance of open communication about emotions, especially in relation to mental health. Ben reflects on how his girlfriend and other individuals like Patrice Everett have helped him break the generational cycle of emotional suppression. He hopes to apply these lessons when he becomes a father and wants his children to feel comfortable sharing their feelings with him. Additionally, Ben expresses his fear of not being present in his future children's lives due to his busy schedule and emphasizes the need to prioritize family and be there for important moments, like sports days and when the child wants his presence.
Gymshark: Inspiring a Global Movement
Ben Francis's ambition for Gymshark is to become a truly iconic British brand globally. He envisions Gymshark as a brand that inspires people to be the best versions of themselves physically and mentally, and he wants it to be one of the most iconic brands in the world. Ben recognizes the importance of being a global brand and wants Gymshark to be a leader in culture that brings people together. He is dedicated to making Gymshark a brand that transcends borders and helps inspire people around the world. Despite the challenges and uncertainties of achieving such success, Ben remains determined to reach Gymshark's tipping point of becoming truly iconic.
Embracing Change for Business Success
Change is inevitable and essential for businesses to thrive and adapt to a shifting landscape. Ben Francis emphasizes the importance of embracing change and being prepared for the unknown challenges that may arise in the future. He recognizes that the world is constantly evolving, and staying stagnant can lead to a company's downfall. To navigate change effectively, Ben advocates for having a culture of change within the organization, where employees are aware of and ready to embrace transformation. He mentions that Jim Shark is agile and nimble compared to larger competitors, allowing them to respond quickly to change. By remaining adaptable and open to transformation, businesses can capitalize on opportunities and overcome any obstacles that come their way.
Gym Shark Expands to High Street for Community Experience
Gym Shark, a direct-to-consumer brand, is considering opening a store on the high street. The founder, Ben Francis, explains that the decision to stay away from physical stores in the past was due to limited resources and the need to focus on the brand's growth. However, they now see the opportunities on the high street as massive and are planning to open their first flagship store in London. The aim is to create a community hub and provide an experiential, community-centric environment for their customers. Ben emphasizes that Gym Shark is more than just a utility brand; it's a feeling, a badge of honor representing dedication to self-improvement. As Gym Shark expands globally, they strive to maintain their niche focus on gymwear and hold onto their core specialist brand identity.
The Unique Role of Founders in Business
Founders play a unique role in the vision, culture, and specialness of a business. While a company can continue to thrive without the founder, there may be a loss of the founder's unique perspective and ability to connect all the dots. Despite having a talented management team and a well-run brand, the founder recognizes that their departure would result in a loss of vision and culture. The conversation highlights the significance of a founder's passion and love for the industry in building a successful business. For aspiring entrepreneurs, the key advice is to find something they are truly passionate about because that passion will drive their dedication and ability to overcome failures and challenges.
Embracing Failure and Passion in Entrepreneurship
Leaning into your passion and being willing to fail are crucial elements in pursuing entrepreneurship. Starting a business and finding success is a journey filled with failures and exploration, and it's important not to be afraid of these setbacks. Many successful individuals, including those who run big businesses or are highly accomplished in their fields, have experienced numerous failures before achieving their goals. It's also important to recognize the value of having a stable job while working on your business, as it provides financial support and allows for reinvestment of profits. Instead of impulsively quitting your job, use it as a superpower for stability and continue to work hard and try new ventures.
The Importance of Working Smart and Effective Time Management
Success requires a combination of hard work and working smart. Working hard alone is not enough to solve problems and achieve goals. It is important to find ways to work smart and make strategic decisions. Additionally, time is a valuable gift that others can give us, as it allows for personal growth and learning. The CEO emphasizes the finite nature of time and the importance of using it effectively. By putting himself out there and sharing his journey, he empowers others to believe that they can also achieve success. He serves as a relatable figure who inspires individuals from all walks of life to strive for greatness.