“When you’re starting a business, it’s so easy to put yourself in a position where everyone will agree with you and tell you how great you are. You have to constantly be around people who are giving you a reality check, people who are better than you.
“Failure will enable you to be successful, so I think people need to rephrase their opinion about failure and just try it out. Respond to something and see what happens. If things don’t go well, you can always try something new. ‘
Ben Francis, our youngest entrepreneur to teach wisdom, started the fitness apparel brand Gymshark when he was just 19 while still in college working as a £ 5 an hour pizza delivery boy. He talked about Gymshark becoming the British equivalent of Nike or Adidas.
Like many of the other entrepreneurs cited here, he started small after teaching sewing from his mother and began making training equipment in his parents’ garage in Bromsgrove, West Midlands, using a sewing machine and screen printer he bought for £ 1,000 Savings.
What Gymshark did differently in 2012 was Francis cleverly harnessed the power of early social media and influencers to promote his brand and partner with reality TV celebrities.
In August 2020, Ben Francis sold a 30 percent stake in Gymshark to General Atlantic worth £ 1 billion. Given that Ben Francis still owns 70 percent of the company, he’s now worth £ 700 million on paper.