E205 - Timo Armoo: How you can play the game by your own rules

This is the third episode of our new Leadership Series, sponsored by PwC, in which we will be diving deep into what it really takes to be a CEO.

Timo Armoo is an entrepreneur, speaker and co-founder of Fanbytes, a social media and marketing agency. Timo founded Fanbytes at age 21 whilst in university, eventually selling at aged 27 for an eight figure exit. In this conversation, we delve deep into Timo’s entrepreneurial mind, exploring what makes a great business idea, finding a core purpose and knowing when a good opportunity arises.

They discuss how his upbringing in Ghana, and then his teenage years in South West London, influenced his career. Timo shares the impact small wins can have, how to carefully choose your team and how he has “never had an original idea”.

Thank you to PwC for sponsoring this special CEO Series. PwC’s purpose is to build trust and solve important problems, and their global strategy - The New Equation - is bringing this to life for their clients, people and society. By combining technology with human ingenuity, passion and experience, PwC works with organisations to deliver more intelligent, sustained outcomes.

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**Navigating the Entrepreneurial Journey: From Tutoring Ventures to Multi-Million Dollar Exits**

In this episode of the High Performance Podcast, Jay Comfrey engages in a captivating conversation with entrepreneur Timo Armoo, co-founder of Fanbytes, a social media and marketing agency. Timo's entrepreneurial journey is marked by remarkable successes, insightful failures, and a unique perspective on identifying and seizing opportunities.

**From Tutoring to Media Empire: The Genesis of Timo's Entrepreneurial Spirit**

Timo's entrepreneurial journey began at the tender age of 14 when he launched a tutoring company, connecting tutors with students. This venture taught him the importance of owning the infrastructure and not relying solely on connecting parties. This lesson paved the way for his next venture, Entrepreneur Express, an online business publication that gained traction through creative marketing strategies.

**The Power of Small Wins and Embracing Failure**

Timo emphasizes the significance of small wins in fueling entrepreneurial motivation. These early successes, such as securing interviews with prominent business leaders, provided validation and encouraged him to pursue bigger goals. He also acknowledges the role of failures in shaping his entrepreneurial mindset, viewing them as opportunities for learning and growth.

**Finding Inspiration in Others: The Art of Adapting and Innovating**

Timo's approach to entrepreneurship is characterized by his ability to identify successful models in other industries and adapt them to his own ventures. He believes that there are no truly original ideas, and that the key lies in recognizing patterns and applying them creatively. This approach allowed him to identify the potential of influencer marketing for Gen Z audiences, leading to the success of Fanbytes.

**The Importance of Simplicity and Focus**

Timo highlights the power of simplicity in business. He emphasizes the effectiveness of focusing on a specific niche and avoiding the trap of building large sales teams. Instead, he advocates for leveraging marketing and content creation to attract clients. This approach not only proved successful for Fanbytes but also aligns with his belief in the importance of adaptability and innovation.

**The Illusion of Superiority and the Game of Status**

Timo reflects on the prevalence of a superiority complex among successful individuals, including himself. He recognizes that this mindset can be a driving force for achievement but also cautions against becoming enslaved to the status game. He emphasizes the importance of avoiding the pursuit of external validation and focusing on personal growth and fulfillment.

**Entrepreneurship as a Vehicle for Personal Growth and Happiness**

Timo challenges the notion that entrepreneurship is the ultimate path to happiness. He asserts that any business should serve as a tool for personal growth and fulfillment, rather than becoming a source of stress and anxiety. He encourages entrepreneurs to prioritize their happiness and avoid getting caught up in the pursuit of status and external validation.

**Key Takeaways**

* Embrace small wins and failures as stepping stones to success.
* Identify successful models in other industries and adapt them creatively.
* Focus on simplicity and avoid the trap of building large sales teams.
* Resist the allure of the status game and prioritize personal growth and happiness.
* View entrepreneurship as a vehicle for personal growth and fulfillment, not as the ultimate goal.

# CEO Series: Timo Armoo, Co-Founder of Fanbytes

## Summary

In this episode of the Leadership Series, sponsored by PwC, we delve into the entrepreneurial journey of Timo Armoo, co-founder of Fanbytes, a social media and marketing agency. Timo shares his insights on building a successful business, the importance of choosing the right team, and the challenges and rewards of being a CEO.

## Key Points

- Timo emphasizes the importance of understanding the core purpose of a business and aligning it with personal values. He believes that a business should serve as a vehicle to enhance personal happiness and fulfillment, rather than becoming a source of stress and servitude.

- Timo highlights the significance of selecting the right co-founders and team members. He stresses the need for open communication, shared values, and complementary skills to create a cohesive and effective team.

- Timo reflects on his fundraising experiences, emphasizing the importance of approaching investors from a position of strength and avoiding situations where the entrepreneur is in a weak or desperate position. He underscores the value of building a strong business foundation before seeking external funding.

- Timo discusses the concept of trust in business relationships. He emphasizes the importance of assuming positive intent in others, rather than harboring suspicion or negativity. He believes that this approach fosters a more collaborative and productive work environment.

- Timo shares his experience of selling Fanbytes for tens of millions of pounds. He describes the emotional journey of witnessing the numbers on paper, receiving the funds, and eventually coming to terms with the life-changing event. He highlights the importance of maintaining perspective and recognizing that happiness is not solely dependent on financial success.

- Timo reflects on the impact of his upbringing and cultural background on his entrepreneurial journey. He acknowledges the influence of his Ghanaian heritage and his teenage years in South West London in shaping his work ethic, resilience, and approach to business.

- Timo offers valuable advice to aspiring entrepreneurs, emphasizing the importance of learning from the experiences of others, seeking out mentors, and developing a strong network of support. He encourages entrepreneurs to embrace challenges, take calculated risks, and never give up on their dreams.

## Conclusion

Timo Armoo's entrepreneurial journey is a testament to the power of perseverance, adaptability, and surrounding oneself with the right people. His emphasis on aligning business goals with personal values, fostering a culture of trust, and embracing a lifelong learning mindset serves as valuable guidance for aspiring leaders and entrepreneurs.

In this episode of the "High Performance" podcast, sponsored by PwC, host Jake Humphrey and Damien Hughes engage in a captivating conversation with Timo Armoo, an entrepreneur and co-founder of Fanbytes, a social media and marketing agency. Timo shares his insights on leadership, business success, and personal growth.

Timo emphasizes the importance of surrounding oneself with talented individuals who possess expertise in areas where one may lack knowledge. He believes in the collective power of a team and the value of collaboration. Reflecting on his upbringing in Ghana and teenage years in South West London, Timo highlights the impact of small wins and the significance of carefully selecting team members.

Timo challenges the conventional wisdom of striving for legacy, arguing that focusing on immediate impact and living life to the fullest is more meaningful. He emphasizes the importance of setting personal standards and constantly challenging oneself to achieve more, rather than seeking validation from others.

Timo's entrepreneurial journey has been marked by a willingness to explore and embrace new opportunities. He believes that true success lies in identifying and capitalizing on opportunities that align with one's passions and values. Timo stresses the importance of surrounding oneself with successful and interesting people, as he believes that the collective energy and knowledge of such individuals can lead to remarkable achievements.

The episode concludes with Timo's advice for listeners to set personal standards and continuously strive to surpass them. He emphasizes the importance of living life according to one's own values and not seeking validation from others. Timo's message is a powerful reminder to embrace exploration, challenge oneself, and live life with purpose.