From Homeless To $400M: Tobi Pearce On How To Find Your Purpose, Mindset & Motivation, Overcoming Adversity, Self-Judgement & Criticism and Learning From Failures.

Learning from this podcast episode is that success, whether in business or personal life, often comes from overcoming challenges and finding purpose through pain. Marie Llewellyn's friend Toby Pearce, a successful tech founder and ex-CEO of the Sweat app, shared his inspiring journey from homelessness to selling his company for $400 million before his 29th birthday. Toby emphasized the importance of aligning career and passion, learning from failures, and dealing with self-judgment and criticism. He also highlighted that achieving goals and reaching the top can make things harder and that being successful often means having a smaller circle. Overall, this conversation offers valuable insights and motivation for anyone looking to find their future purpose or navigate their career, regardless of their current stage in life.

Overcoming adversity and hardship can be a powerful motivator for personal growth and success. The speaker shared his own experience of leaving home at a young age due to family tension and navigating uncomfortable situations. He reflects on this time as an opportunity for growth, despite the challenges. He also emphasizes that everyone has faced hardships and that hitting rock bottom can provide a new perspective and a solid foundation to build upon. The idea of not being fragile, which is realized after experiencing adversity, can be a strong motivator to try new things and work hard to achieve goals. Successful people often come from difficult backgrounds and use their past experiences as a driving force to overcome obstacles and reach new heights.

Taking calculated risks and doing things differently can lead to personal growth and progress. Fear of imperfection or societal pressures can hinder progress, but being confident in one's abilities and willing to try new things can lead to exceptional outcomes. This concept was reflected in the speaker's personal journey to fitness. Growing up, they were underestimating their own slim build and didn't realize their potential until they received a suggestion to build muscle for injury prevention. This led them to the gym and eventually a career as a personal trainer. Initially, they trained both men and women, but a convenient scheduling overlap led them to train a group of moms regularly. This experience taught them the importance of being open to new opportunities and the potential rewards that come with taking risks and doing things differently.

Identifying a need and providing a solution, even if it starts small, can lead to a large and impactful business. The speaker started by training a small group of women in fitness, which grew organically through word of mouth. At the time, women lifting weights was not common, making the speaker's efforts stand out. The speaker enjoyed the journey and the results, but also recognized the value of providing accountability, motivation, and support, which resonated with women more than men. The success of this approach led to the creation of popular fitness apps like BBG and the Sweat app. The initial idea for such an app came from recognizing the high demand for the content through illegal downloads on torrent sites. The speaker saw both the marketing opportunity and the sadness in this situation, which ultimately drove them to create a legal and rewarding solution for themselves and their customers.

Personal passion and profession do not necessarily need to be intertwined to be successful. The speaker shares his experience of starting a tech company in the early days of mobile apps, driven by the desire to build a business rather than being passionate about fitness or the industry itself. He emphasizes that having a passion for the game of building a business can be more important than being passionate about a specific product or service. While enjoying what you do is important, being thoroughly obsessed with it is not a requirement. This mindset can be limiting for those who only engage in activities they are passionate about, as many people are unsure of what they are passionate about. The speaker suggests trying new things and focusing on enjoying the experience rather than being obsessed. This perspective can also apply to the CEO role, where being passionate about the mission and the business itself can be more important than being passionate about a specific product or industry.

Authenticity is crucial in business, whether it's for an individual promoting a product or a CEO leading an organization. When there's a disconnect between interests and the product or service, it can come across as inauthentic and hinder success. On the other hand, a strong connection between the individual and their role can lead to relatability and better business results. However, running an organization is multifactorial, and different people with various focuses are required to win. Being a CEO or entrepreneur comes with significant responsibility and pressure, and it's essential to prioritize being good over looking good. Authenticity, understanding the complexities of running a business, and focusing on the journey rather than the title are key to success.

Growing a successful business comes with a steep learning curve and numerous challenges, especially when you're young and inexperienced. The more successful you become, the more decisions you have to make in a short amount of time. However, the positive impact of certain industries, like natural diamonds, can extend far beyond just financial success. For instance, natural diamonds not only make for beautiful jewelry but also support the livelihoods of millions and contribute to infrastructure, healthcare, education, and environmental protection. On a personal note, making eco-friendly choices can make a significant difference in your daily life. For example, switching to Earthbreeze's liquidless laundry detergent not only reduces plastic waste but also makes doing laundry easier and more convenient. Additionally, providing your dogs with fresh, healthy food from The Farmer's Dog can lead to better health and a longer lifespan. During challenging times, it's essential to find what fuels you and helps you thrive. While some people may find constant wins enjoyable, others may struggle more when things don't go as planned. Regardless, embracing the challenges and learning from them is key to personal and professional growth. In summary, making a positive impact on the world, whether through business or personal choices, and embracing challenges are essential for growth and success.

Entrepreneurship comes with its fair share of ups and downs, and the lows can be particularly challenging. The speaker shared an experience of a deal falling through just hours before the money was meant to come through, which led to downsizing the company and letting go of employees. This situation was difficult not only because of the financial implications but also because of the emotional toll it took. The speaker noted that it's hard to find people who can relate to such experiences, and it's not easy to talk about them publicly due to the negative connotations. Additionally, the emotional response to success and failure can be disproportionate, with the lows being particularly low. Entrepreneurship can feel isolating, especially when surrounded by people who haven't experienced similar challenges or when trying to find help and resources. Despite the difficulties, the speaker found joy in the challenge and learned to make the best of it.

The landscape of industries, particularly in technology, has significantly evolved over the past decade, making it easier for businesses to follow a proven roadmap for success. However, while the results may be less unique, the process of building something from scratch offers valuable learning experiences and skill development. Intelligence and hard work are important, but timing, luck, and persistence also play significant roles in achieving success. The Wild West days of entrepreneurship, where every step required careful consideration and experimentation, are giving way to more streamlined and commoditized processes. Yet, the value of the journey and the skills gained along the way should not be underestimated.

Persistence and continuous learning are key to achieving success in business and other endeavors. The speaker emphasized that luck, timing, and the continuation of effort play a significant role in their own success story. They also criticized the marketing tactics of business coaches who claim to have unique solutions or frameworks, without providing objective data to back up their claims. The speaker encouraged listeners to focus on making better decisions through practice and experience, emphasizing that time in the game is valuable for learning and improvement. This principle can be applied to various aspects of life, from starting a business to pursuing a fitness goal. It's not just about putting in the time, but also about intelligently applying effort and continuously learning from experiences.

Success, whether in business or personal wellness, requires intelligent effort and a willingness to learn from failures. The speaker emphasizes the importance of assessing situations, gaining insights, and implementing new strategies. This can be applied to various aspects of life, such as maintaining a healthy lifestyle while traveling or addressing hair loss. The creation of Divvy, a scalp care brand, came from a personal journey of learning about scalp health. Similarly, the speaker's success with Sweat Yep, a fitness business, came from hard work and determination. Westin Hotels offer a solution for maintaining wellness routines while traveling, and Divvy provides effective, science-backed ingredients for scalp and hair health.

Wealth and identity are interconnected for entrepreneurs, but focusing solely on financial success can lead to an identity crisis when the business no longer belongs to them. The speaker shares his personal experience of selling his organization and feeling lost without the company as a part of his identity. He emphasizes that the emotional aspect of building and leading a business can be just as significant as the financial rewards. After selling, he faced an identity crisis and had to rebuild his sense of self beyond his role as founder and CEO. This experience taught him the importance of recognizing the distinction between himself and his business to avoid putting all his identity into the company, which can lead to a difficult transition when it's no longer a part of his life.

Unexpected success can bring about unexpected challenges, and it's important to take the time to reflect on what truly matters and how to use your experiences to help others. The speaker shares his personal journey of making $400 million and feeling lonely and lost, leading him to figure out his passions and purpose outside of work. He emphasizes the importance of getting good at being bored and taking time for self-discovery. He also mentions how his experience has helped him in his current role as a consultant and advisor to founders, allowing him to help others avoid the pain he went through and find their own purpose. The speaker also touches on the common issue of entrepreneurs struggling to balance their personal lives with their careers and how his experience has helped him in this area as well.

Running a business and being a parent share similarities in terms of the emotional investment and constant worry involved. Just as a new parent might obsessively check on their baby, founders often work long hours and experience high levels of stress, fearing that something could go wrong. This emotional tension can make it difficult for founders to disconnect from their business. Additionally, financial success can bring new challenges, such as a fear of losing money that was once scarce. It's important for founders to understand that not everything needs to be perfect and that setbacks are a natural part of the journey. Success should not be defined solely by money or material possessions, but rather by personal growth and happiness.

Material possessions, such as a new house or expensive items, do not necessarily lead to increased happiness. The speaker in this conversation shares his personal experience of buying a new house without using deal money and not feeling the need to spend excessively on other items. He also recalls past experiences of buying things like a watch or Louis Vuitton suitcases that he rarely used or appreciated. The importance of happiness, according to the speaker, comes from experiences and memories rather than material possessions. It's essential to adjust to one's new normal and understand that everyone's definition of normal and what brings them happiness is different. The speaker also emphasizes the importance of being practical and considering the functionality of items over their style or brand.

The length of a relationship does not determine its quality. Instead, focus on characteristics like shared values, alignment, intimacy, and utility. A good relationship involves a value exchange that is reciprocated. If you're not getting what you want from a relationship, whether it's intimate or friendly, it may be time to reevaluate or let go. Relationships are a natural part of life, and evolving and changing is a practical aspect of maintaining healthy connections. The decisions we make, such as career choices and intimate partners, significantly impact our existing and future relationships. It's unlikely to maintain deep connections with individuals who have vastly different values or interests. Letting go of a relationship or changing its nature is not a negative thing; it's a natural part of personal growth.

Being an entrepreneur or pursuing unconventional paths can lead to feelings of isolation and self-judgment, as society often perceives such choices as abnormal. However, it's essential to remember that these experiences are normal and valuable, as they allow us to form deep connections with like-minded individuals. Parenthood also brings unique challenges, such as the requirement for immense patience and a new experience of love. Despite the difficulties, both entrepreneurship and parenthood offer opportunities for personal growth and the formation of meaningful relationships. It's crucial to recognize the value in these experiences and not let societal norms or self-judgment hinder our personal growth.

Having a child brings a significant shift in priorities and perspective, presenting both challenges and opportunities. It's essential to embrace the opportunities, such as spending time with your child, as these moments are precious and fleeting. In business and other areas of life, people often wish away time and responsibilities, but these experiences can be valuable and enjoyable. According to some statistics, by the time a child turns 18, parents have spent approximately 80% of their time with them. Therefore, it's crucial to appreciate the present moments and make the most of them. Another piece of advice is that businesses are not as fragile as we might think. Understanding this intellectually is important, but actually believing it and trusting the process can lead to greater resilience and success.

Taking time off from work, whether it's a day or a vacation, can actually benefit your business and personal growth. As business owner Toby Pierce shared in the podcast, disconnecting from the business can lead to increased productivity and improved well-being. Toby emphasized the importance of self-love, finding someone to love, and pursuing things that bring joy as essential components of living one's best life. He can be found on Instagram at @toby\_underscore\_pierce, and listeners are encouraged to engage with the podcast community by commenting on the latest Instagram post with their desired guest for a chance to win Bloom Greens. Remember to follow the podcast for weekly episodes and share and leave a review if you enjoyed the conversation. Please note that this episode may contain paid endorsements and advertisements.