E69 - Ben Francis: How to step back to take a leap forward

Ben Francis is the founder and ambitious entrepreneur behind leading UK fitness brand, Gymshark.

Ben founded Gymshark when he was 19, while still a student at Aston University. In addition to his full-time commitment to his studies, Ben juggled working as a pizza delivery man to fund his Gymshark venture. In August 2020, Gymshark became the first DTC brand in the UK to achieve Unicorn status (valuation over $1 billion) with no external capital funding. 

Ben recently announced he is returning to the helm of the company as CEO as the brand looks to expand in the US and Asia.

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### Summary: Lessons from the Founder of Gymshark, Ben Francis

Ben Francis, the founder of Gymshark, shares his insights on entrepreneurship, building a successful business, and the importance of company culture.

**Key Points:**

- **Drive and Desire:** Ben's drive to make a difference stems from his competitive nature and passion for fitness. He was determined to create something meaningful and impactful.


- **Passion for Making Things:** Ben's interest in tech and making things, particularly websites and apps, led him to combine his love for fitness and technology, eventually resulting in the creation of Gymshark.


- **Starting Small:** Ben emphasizes the importance of setting realistic goals and not aiming for immediate billion-dollar outcomes. He focused on involvement in the fitness industry, which eventually led to Gymshark's success.


- **The Power of Collaboration:** Ben realized the value of involving others with different skill sets to complement his own strengths and weaknesses. He learned to delegate and trust his team members to excel in their respective roles.


- **Importance of Strong Leadership:** Ben highlights the significance of strong leadership in creating a team that is greater than the sum of its parts. He emphasizes the need to galvanize a team in a certain direction and ensure everyone is on board with the company's vision.


- **Learning from Mistakes:** Ben acknowledges the importance of learning from mistakes and adapting accordingly. He experienced challenges, such as a website crash during Black Friday, which taught him the importance of a strong operational foundation.


- **The Role of Intuition and Risk-Taking:** Ben credits intuition and a willingness to take calculated risks as key factors in Gymshark's success. He emphasizes the importance of blending intuition with a strong appetite for risk to drive business growth.


- **Focus on Company Culture:** Ben stresses the significance of company culture, which he learned from his colleague Steve. He emphasizes transparency, accessibility of leadership, and a people-centric approach to avoid the pitfalls of a toxic work environment.


- **Surrounding Yourself with Talented People:** Ben acknowledges the importance of surrounding himself with talented individuals who complement his skills and expertise. He credits the contributions of his team members for Gymshark's achievements.


- **Adapting to Changing Circumstances:** Ben discusses the challenges of adapting to changing circumstances, such as the COVID-19 pandemic, and the need for businesses to be agile and resilient in the face of adversity.

**Overall Message:**

Ben Francis' journey with Gymshark highlights the importance of passion, collaboration, strong leadership, learning from mistakes, taking calculated risks, fostering a positive company culture, and surrounding oneself with talented individuals. He emphasizes the need for businesses to adapt to changing circumstances and remain resilient in the face of challenges.

**Navigating Change While Staying True to Your Core:**

Ben Francis, the founder and CEO of Gymshark, emphasizes the importance of culture and transparency in building a successful business. He believes that being open and accessible to customers, the community, and employees creates a sense of trust and loyalty. Francis highlights the significance of identifying and adhering to core values that define the company's identity. These values, such as humility, transparency, and a customer-centric approach, have been instrumental in Gymshark's growth and success.

**Maintaining Humility and Empathy:**

Francis stresses the virtue of humility, acknowledging that successful people often struggle with insecurities and concerns. He emphasizes the importance of empathy and understanding that everyone has inherent value, regardless of their position or achievements. By fostering a culture of humility and empathy, Francis aims to create a positive and supportive work environment at Gymshark.

**Embracing Responsibility and Continuous Improvement:**

Francis believes that accepting responsibility is crucial for personal and professional growth. He encourages taking on more responsibilities to develop oneself and improve the business. By investing in personal development, relationships, and the community, Francis strives to make a positive impact and drive Gymshark's success.

**Overcoming Challenges and Seeking Feedback:**

Francis acknowledges his struggles with public speaking and his initial discomfort with media attention. He emphasizes the importance of seeking feedback, both positive and negative, to identify areas for improvement. He credits a 360-feedback exercise with helping him recognize his weaknesses and促使他采取行动来改善自己。

**Setting Clear Goals and Utilizing Resources:**

Francis highlights the effectiveness of setting clear goals and targets for personal and professional development. He explains how identifying specific areas for improvement and creating a tangible list of actions helped him overcome challenges and achieve his objectives. He also emphasizes the value of utilizing available resources, such as public speaking coaches, to accelerate his growth.

**Balancing Passion with Responsibility as a CEO:**

Francis discusses the transition from Founder to CEO and the challenges of balancing his passion for certain aspects of the business with the responsibilities of being a chief executive. He recognizes the need to maintain transparency and effectively communicate strategy to his team while also dedicating time to areas that may not excite him as much.

**Finding Meaning and Fulfillment through Responsibility:**

Francis expresses his love for his work and the inspiration he draws from the positive impact Gymshark has had on people's lives. He believes that taking on responsibility and making a difference in the world brings meaning and fulfillment to his life. He emphasizes the importance of surrounding oneself with talented individuals who can contribute to personal and professional growth.

**The Role of Wealth and Success in Happiness:**

Francis reflects on the relationship between wealth and happiness, acknowledging that there is a point where money can provide choice and opportunities. However, he cautions against the assumption that wealth alone can lead to happiness. He emphasizes the significance of focusing on things that bring personal fulfillment, such as taking care of loved ones, giving back to the community, and pursuing meaningful endeavors.

**Podcast Episode Summary: Navigating the Challenges of Entrepreneurial Success with Ben Francis, Founder of Gymshark**

In this episode of the High Performance Podcast, host Jake Humphrey engages in a candid conversation with Ben Francis, the founder of the leading UK fitness brand Gymshark.

Ben's journey as an entrepreneur began at the age of 19 while he was still a student at Aston University. Despite the demands of his studies, he juggled working as a pizza delivery man to fund his Gymshark venture. In August 2020, Gymshark became the first DTC brand in the UK to achieve Unicorn status (valuation over $1 billion) with no external capital funding.

Ben recently announced his return to the helm of the company as CEO, aiming to expand Gymshark's presence in the US and Asia.

**Key Insights from the Podcast:**

* **The Importance of Self-Awareness:** Ben emphasizes the significance of self-awareness in identifying areas for improvement and adapting to changing circumstances. He acknowledges his tendency to speak impulsively and is actively working to become more thoughtful in his communication.

* **Embracing a Growth Mindset:** Ben believes in the power of a growth mindset, constantly seeking opportunities for self-development. He encourages individuals to learn from everyone they meet and to embrace challenges as opportunities for growth.

* **Balancing Ambition and Personal Fulfillment:** Ben reflects on the substantial financial offers he received for Gymshark, which would have allowed him to retire early. However, his passion for the business and the positive impact it has on people's lives outweighs his desire for personal wealth.

* **The Value of Self-Care:** Ben emphasizes the importance of taking time for self-care and rest to maintain high performance. He recognizes the need to protect his time and prioritize activities that contribute to his overall well-being.

* **The Power of Humility:** Ben highlights the importance of humility in leadership. He believes that leaders should be open to learning from others and willing to admit their mistakes. He also emphasizes the significance of accessibility and transparency in building a strong company culture.

* **The Entrepreneurial Journey:** Ben acknowledges the challenges and sacrifices involved in the entrepreneurial journey. He encourages aspiring entrepreneurs to trust their gut, embrace calculated risks, and learn from their failures.

* **The Importance of Non-Negotiables:** Ben shares his three non-negotiables for high performance: open-mindedness, a focus on self-development, and humility. He believes that these qualities are essential for achieving success in any endeavor.

* **The Golden Rule for High-Performance Living:** Ben's golden rule for living a high-performance life is simple: prioritize self-development. He encourages individuals to understand who they are, where they want to be, and take daily steps to bridge the gap between the two.

**Overall, the conversation with Ben Francis offers valuable insights into the mindset, strategies, and challenges involved in building a successful business while maintaining a balanced and fulfilling life.**

**Summary of the Podcast Episode:**

**Podcast Title:** The High Performance Podcast
**Episode Title:** Ben Francis - Founder of Gymshark
**Guest:** Ben Francis, Founder and CEO of Gymshark

**Overview:**

In this episode, Jake Humphrey and Damian Hughes engage in a captivating conversation with Ben Francis, the founder and CEO of Gymshark, a leading UK fitness brand. Ben shares his inspiring journey of building Gymshark from a small startup to a multi-million dollar company. He emphasizes the significance of perseverance, adaptability, and customer-centricity in achieving business success.

**Key Points:**

1. **Humble Beginnings:**
- Ben started Gymshark while he was a student at Aston University, juggling his studies with working as a pizza delivery man to fund his venture.

2. **Rapid Growth and Success:**
- Gymshark achieved remarkable growth, becoming the first DTC (direct-to-consumer) brand in the UK to reach Unicorn status (valuation over $1 billion) with no external capital funding.

3. **Customer-Centric Approach:**
- Ben highlights the importance of listening to customer feedback and adapting products and services accordingly. He believes that understanding customer needs is crucial for a brand's success.

4. **Adaptability and Innovation:**
- Ben emphasizes the need for businesses to be adaptable and innovative in a rapidly changing market landscape. He stresses the importance of constantly evolving and staying ahead of the curve.

5. **Return to Leadership:**
- Ben recently announced his return as CEO of Gymshark, aiming to expand the brand's presence in the US and Asia.

6. **High Performance Circle Newsletter:**
- The podcast team promotes their new newsletter, "The High Performance Circle," which features exclusive content, including keynote speeches, high-performance boosts, and interviews with influential individuals.

7. **Upcoming Book:**
- Jake and Damian announce the upcoming release of their book, encouraging listeners to pre-order it.

8. **Gratitude and Appreciation:**
- The hosts express gratitude to their founding partners, Lotus Cars, and GIVEMESPORT for their continued support.

9. **Call to Action:**
- The hosts encourage listeners to spread the word about the podcast, share it with friends and colleagues, and leave positive reviews.

**Conclusion:**

The episode provides valuable insights into the world of entrepreneurship and business success through the journey of Ben Francis and Gymshark. It emphasizes the importance of customer-centricity, adaptability, and innovation in achieving remarkable growth and maintaining a competitive edge in the market. The podcast also promotes the "High Performance Circle" newsletter and the upcoming book, offering listeners access to exclusive content and expert perspectives.