E7: Ben Francis - 25 year old CEO OF UK’s fastest growing company

Nov 28, 2017 52m 9s 17 insights
Stephen Bartlett discusses his observations from meeting Ben Francis, the 25-year-old CEO of Gymshark, comparing their entrepreneurial journeys. He also shares personal diary entries covering insights on self-awareness, relationships, resilience, time management, self-belief, and business strategy.
Actionable Insights

1. Protect Your Standards

Constantly monitor your life for gradual erosion of standards in relationships, jobs, or personal ambitions, and be ready to “jump out of the pan” before it’s too late, as only those who demand more will get more.

2. Optimize Your Daily Time Allocation

View your daily time as 24 “chips,” dedicating 8 to essentials and strategically placing the remaining 16 on activities that yield the best return for your life goals, aiming to increase productive “chip” usage to leverage compounding benefits.

3. Prioritize Value Over Hours

Shift your focus from the sheer number of hours worked to the value you deliver, understanding that “smart work” (high-quality, impactful efforts) is more effective than simply “hard work” (long hours) for achieving significant results.

4. Speak Your Truth Unapologetically

Deliver your thoughts, opinions, and beliefs directly, without diluting them or fearing public scrutiny, as being authentic and controversial helps you cut through the noise and be heard, rather than being invisible by trying to please everyone.

5. Build Self-Belief Through Action

Actively seek out and engage in tasks you initially believe you cannot do, as successfully navigating these challenges creates internal “case studies” that build genuine self-belief and confidence over time.

6. Decide Based on Future Regret

Make significant life and business decisions by considering the probability of regretting them when you are 80 years old, as this perspective encourages trying and chasing dreams rather than avoiding action.

7. Delegate to Strengths

Entrepreneurs should admit what they’re bad at and bring in people better in key areas like operations and finance, even if it means giving up a prestigious title, to prevent damage as the company grows.

8. Choose an Entrepreneurial Partner Wisely

Seek a romantic partner who is “switched on” (understands your work fundamentals), “open to change” (accommodates unpredictable schedules), and “understanding” (gets the entrepreneurial world) to minimize relationship conflicts.

9. Persist Through Criticism

In the pursuit of your goals, keep “swinging the bat” repeatedly, even when facing criticism, hate, or failure, because perseverance is the ultimate differentiator, and one success will overshadow all past struggles.

10. Obsess Over the Customer

Adopt a singular, unwavering focus on the customer and their experience, as this obsession naturally solves many other business problems and drives long-term success.

11. Love Your Work

Ensure your motives are rooted in loving what you do, not just seeking wealth, as this genuine passion leads to the deep care and attention to detail that builds great businesses.

12. Embrace Uncomfortable Situations

To build confidence, intentionally spend more time in uncomfortable or unconfident situations, as confidence, like muscle, is developed by pushing past perceived limits and persevering through initial struggles.

13. Embrace Challenges for Resilience

Cultivate resilience by staying composed through hardships and even learning to enjoy negativity, as tough times build strength and provide a sense of feeling for leaders.

14. Focus on the Process, Not Destination

Reframe your pursuit of success as an ongoing journey of building and progression, rather than a fixed destination, to find continuous fulfillment and avoid feeling unmotivated once initial goals are met.

15. Evaluate Investment Carefully

Understand that taking investment, while extending your financial runway, also speeds up your operational “aircraft” by increasing overheads, so carefully consider if it’s the right decision for your business to avoid unsustainable growth and potential bankruptcy.

16. Leverage Compounding for Life

Understand that small, consistent investments of time or effort today, like using just one extra “chip” productively, will compound over time to yield tremendous rewards in the future, similar to financial compounding.

17. Guard Your Time Actively

Say no to things that don’t require your time and proactively plan your schedule, rather than letting your time be dictated by others or unproductive activities, to maximize your daily impact.