Why Brand is Built on Social | Interview w/ Gymshark Founder Ben Francis

Podcast Summary

• Gary Vaynerchuk making surprise announcement in VeeFriends Discord: Gary admired Gymshark's influencer marketing, met founders, and shares their community focus story. Founded in 2012 by Ben Francis, a 19-year-old unable to become a bodybuilder, who started making fitness clothes himself.

  Gary Vaynerchuk will be making a surprise announcement with his co-founders of Empathy Wines, Nate and John, on November 17th at noon Eastern time in the VeeFriends Discord. This announcement will take place on the audio stage of the Discord. The discussion also featured an interview with Ben Francis, the founder and CEO of Gymshark, a fitness apparel brand. Gary mentioned how he used to admire Gymshark's influencer marketing on Instagram years ago and eventually met the key executives and the founder himself. Gymshark was started in 2012 when Ben was 19 years old and couldn't become a bodybuilder due to his lack of muscle mass. Instead, he started making fitness clothes himself. The brand is known for its strong community focus.

• Discovering Passion at a Young Age: Falling in love with a passion at a young age and applying discipline to it can lead to successful businesses and personal growth.

  Discovering a passion at a young age and applying discipline to it can lead to success in various areas of life. The speakers, Ben and the interviewee, shared their personal stories of falling in love with fitness and entrepreneurship at a young age. Ben joined the gym at 16 and found the structure and discipline that improved his school performance. The interviewee, inspired by a classmate in third grade, decided to buy football equipment instead of playing professionally. Both individuals applied their passion to various projects, including fitness websites and apps, and faced challenges along the way. However, they persisted and learned valuable skills, eventually leading to the creation of successful businesses, Gymshark for Ben and a supplement company for the interviewee. The key takeaway is that having a clear passion and the discipline to pursue it, even in the face of challenges, can lead to significant accomplishments.

• From dropshipping to handmade fitness apparel: Persistence and adaptability led Gymshark from low-profit dropshipping to successful handmade fitness apparel brand through authentic influencer relationships and engaging at events.

  Starting a business from scratch requires persistence and adaptability. The speaker initially tried dropshipping but realized the low profit margins and lack of long-term sustainability. Inspired by fitness icons and their apparel, he and his partners decided to make their own products. They handmade the items and built relationships with influencers in the YouTube community. When they attended a fitness event called Body Power, they showcased their brand and gained significant attention due to their unique approach of engaging directly with customers. By staying true to their fitness-focused vision and building authentic connections, Gymshark became a successful brand in a sea of traditional product sales.

• Creating a community through grassroots approach and social media: Starting with a community-building approach and leveraging social media can significantly grow a business. Use Instagram to reach a wider audience and change branding to appeal to a broader market.

  Building a community and leveraging social media can significantly grow a business. Ben and Jim Shark, the founders of Gymshark, started by organizing fitness events and lifting together with attendees. This grassroots approach led to the creation of a community and went viral on social media platforms like Facebook and YouTube. The company, which initially focused on bodybuilding clothing, realized the need to expand its appeal beyond this niche market. They changed their logo and started using Instagram to reach a wider audience. This shift in strategy led to a huge increase in revenue. The success of Gymshark is a testament to the power of content creation and distribution, which is essential for any endeavor, be it running for mayor, selling sneakers, or changing people's opinions.

• Capitalizing on underpriced moments: Stay attuned to trends and adapt to new platforms for success. Persistence and openness to new opportunities can lead to significant growth.

  Identifying and capitalizing on underpriced moments in time is crucial for success in business and personal growth. This can be seen through the example of someone who used their experience with Facebook and YouTube to excel on Instagram, leading to a significant financial gain. This concept, known as "arbitrage," has been the driving force behind the success of major brands and companies, such as Procter and Gamble and Amazon, who were aggressive in their marketing strategies during their respective prime times. To continue finding these underpriced moments, it's essential to stay attuned to trends and be willing to adapt and invest in new platforms. The speaker's own success story is a testament to this, as they continued to host events in different locations and scale their presence on Instagram. Ultimately, the key is to be persistent and open to new opportunities, as they can lead to significant growth and success.

• Founders must wear multiple hats in early stages, but as business grows, hire experts to focus on unique strengths.: Founders should focus on their unique strengths and hire experts to manage other areas as the business grows.

  Building a successful business involves both growing a community and learning to manage various aspects of the business, even if they're not your natural strengths. In the early stages, it's necessary for founders to wear multiple hats and develop a passion for different areas. However, as the business grows, it's essential to find and hire the best people to manage those areas and focus on your unique strengths. The founder's role evolves from doing everything to leading and guiding the team. This process includes learning to articulate a vision, speak publicly, understand operations, finance, logistics, and tech solutions. While it's important to be knowledgeable in these areas, it's not necessary to be an expert; instead, find people who are and empower them to excel.

• Leveraging strengths and delegating weaknesses: Focusing on your strengths and allowing someone else to handle your weaknesses can lead to personal growth and business success. Seek opportunities to learn from different roles and gain a well-rounded understanding of a business.

  Focusing on your strengths and allowing someone else to handle your weaknesses can lead to growth and success for both you and your company. Ben Francis, the founder of Gymshark, shares his experience of bringing in a CEO to run the business operations while he focused on brand and product marketing. This arrangement allowed Ben to fail freely and learn by doing, ultimately understanding every aspect of his business. He emphasizes the importance of gaining a well-rounded understanding of a business, especially at a young age, and the value of experiencing different roles before ascending to a leadership position. Francis encourages listeners, particularly those in the early stages of their careers, to embrace their strengths and seek opportunities to learn from their weaknesses.

• Be self-aware and adaptable as a business leader: Identify strengths and weaknesses, separate from business, stay open to new opportunities, and build a strong community to understand evolving customer preferences.

  Self-awareness and adaptability are crucial for entrepreneurs and businesses, especially in today's rapidly changing digital landscape. Ben Francis, the CEO of Gymshark, emphasized the importance of being self-aware to identify strengths and weaknesses and approach them logically. He also advised entrepreneurs to separate themselves from their businesses and think about things from the company's perspective. Francis shared that even effective marketing channels like email can become less effective over time, and it's essential to be open to new opportunities and adapt to changing trends. He mentioned how his own business, Gymshark, has had to pivot from email marketing to social media platforms like Myspace, Friendster, YouTube, Twitter, and now Discord. Additionally, Francis highlighted the significance of building a strong community around your brand, as it can help you stay connected to your audience and understand their evolving preferences.

• Brands as Community Hubs: Effectively creating and nurturing communities is crucial for brands to thrive in the next 30 years, both online and offline.

  Community is becoming a crucial aspect of brands, both online and offline. The recent trends, such as the Reddit-Robinhood situation and the rise of Discord groups, highlight the importance of building and engaging communities for brands. Brands need to shift their focus from just being utilitarian to becoming community hubs. Offline retail spaces are no longer just about selling products; they need to offer an experience that brings people together. Brands that can effectively create and nurture communities will thrive in the next 30 years. The speaker also shared his personal experience with Wine Library TV and how it served as a community anchor. He further announced his joining the board of Gymshark, emphasizing the importance of community in his decision.

• Consistency and Surrounding Yourself with the Right People: In business and fitness, consistency and surrounding yourself with the right people are crucial for success.

  Building a strong team, whether it's in business or fitness, is crucial for success. For entrepreneurs considering bringing on a mentor or board member, the size of the business is a factor. Regardless, always aim to surround yourself with the best people and be consistent in your efforts. In the context of fitness, consistency is key to making progress and seeing results. The biggest mistake people make is not being consistent in their workouts and diet. Just as important as having a strong team is finding a consistent trainer or mentor who can help guide you through the ups and downs of your journey. Whether it's in business or fitness, the importance of consistency and surrounding yourself with the right people cannot be overstated.

• Fitness, marketing, and product development are evolving: Stay updated on protein needs for various workouts, building communities through Discord and TikTok, opportunities for innovation in apparel and footwear, and the importance of reviews

  The way we approach fitness, marketing, and product development is evolving. During COVID, there was a noticeable difference in the type of nutrition required for different workouts. Protein intake was crucial for muscle work, while lighter eating was preferred for activities like rolling or soft tissue work. In the world of fitness and consumer marketing, building communities through platforms like Discord and TikTok is becoming increasingly important. On the product side, there's a massive opportunity for innovation, particularly in apparel where sustainability and recyclability are becoming key performance properties. In footwear, there's also a significant opportunity for innovation in both performance and sustainable delivery methods. The fitness industry is undergoing a transformation, and it's essential to stay attuned to these shifts to succeed. Additionally, the power of reviews cannot be overstated. Each review, whether long or short, is a valuable form of feedback and support for creators like us. So, keep sharing your thoughts and experiences, and we'll continue bringing you insightful conversations.

• The importance of staying engaged and open to new ideas and interactions: Engaging in meaningful conversations and absorbing information at a good pace can lead to unexpected recognition and opportunities. Staying open to new ideas can lead to personal growth and potential recognition.

  Engaging in meaningful conversations and absorbing information at a good pace can lead to unexpected recognition and opportunities. During this episode, Gary's conversation with the AI was compared to him wandering around the office, demonstrating an effective learning style. The host expressed gratitude for a positive review and encouraged listeners to leave their own, as they might be featured in future episodes. Overall, this exchange highlights the importance of staying engaged and open to new ideas and interactions, as they can lead to personal growth and potential recognition.