My First Million
From Nonprofit Founder To Building A $300M Pilates Business
· Summarized
Key takeaways
- Anne Mahlum emphasizes the importance of turning personal challenges into opportunities for others, as seen in her non-profit 'Back on My Feet' and 'solidcore'.
- Critical thinking and negotiation skills are vital for both non-profit success and entrepreneurial ventures; creativity can lead to innovative solutions.
- Keeping an open mindset towards new opportunities and staying adaptable can lead to personal and professional fulfillment after a successful career.
- Community and experiential activities are trends that are gaining momentum in the wellness space, with a growing focus on health and fitness.
- Having passion for your endeavor and believing in your mission can drive you to success, regardless of the challenges faced.
Summary
The Journey of Anne Mahlum
Anne Mahlum shares her remarkable journey from running a non-profit called 'Back on My Feet' for homeless individuals to founding 'solidcore', a high-intensity Pilates workout company. She explains her motivations and challenges, such as bootstrapping her Pilates studio with a personal investment of $175,000, and how she ultimately scaled it to be a $350M business after nine years. Anna's passion for helping others in difficult situations is evident, particularly through the initiative of empowering people with addiction issues through running.
Challenges Faced with Non-Profits and Start-Ups
Mahlum discusses the challenges faced while starting and running 'Back on My Feet', including her efforts to persuade homeless shelters to allow her to start a running program. She emphasizes the importance of critical thinking and creativity during non-profit operations. Transitioning to 'solidcore', she also highlights challenges of financing, high-stakes negotiations, and her philosophy of not taking on partners unless they're essential.
Negotiation and Decision-Making Strategies
A key theme in the podcast is the art of negotiation, as Mahlum shares personal experiences of negotiating contracts and how the strategy of mirroring can lead to better deals. She underscores the need to approach negotiations with confidence and clarity, ensuring all parties feel valued. The importance of strategic thinking in decision-making processes is also emphasized.
Innovation in Fitness and Wellness
Mahlum speaks to the evolving landscape of fitness and wellness, shedding light on upcoming trends such as personalized training through AI technology. She predicts a shift towards more endurance and experiential fitness events and discusses the concept of 'Jump Seat', an innovative idea aimed at reshaping air travel praise through a platform that allows people to trade seats. These insights reflect a growing desire for community-based and experiential physical activities.
Embracing New Chapters and Opportunities
The conversation culminates with Mahlum reflecting on her current mindset regarding entrepreneurial ventures. She mentions how she is focusing on personal fulfillment and the enjoyment of life post-entrepreneurship. While she remains open to new ideas and potential ventures, she emphasizes the importance of finding balance and play in life.
Sponsors
- HubSpot · When you're starting a company, you basically duct tape together a ton of different pieces of software and different platforms. That's why I use HubSpot for all of my projects, because it does it all. So I don't actually have to use any duct tape, which means it doesn't break. It's free to get started.
- Back on My Feet · A non-profit that helps people experiencing homelessness by running, providing a support network, and advocating for employment opportunities.
- solidcore · A Pilates studio founded by Anne Mahlum, focusing on empowering individuals through fitness and community building.
- 29029 · An endurance event that challenges participants to climb the height of Everest across a given time limit.
- HYROX · A global fitness competition combining running and functional workouts, appealing to fitness enthusiasts seeking challenges.
- OxeFit · A fitness gadget that offers personalized workout options using AI and real-time feedback for users' progress.
Show notes
Get next week's episode early, watch it right now: https://clickhubspot.com/mbe
Episode 630: Sam Parr ( https://x.com/theSamParr ) talks to Anne Mahlum ( https://www.instagram.com/annemahlum/ ) about starting an $8M/yr charity from scratch and betting her entire life savings ($175K) on a pilates studio.
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Show Notes:
(0:00) Building a $8M/yr non-profit
(16:27) The economics of [solidcore]
(22:07) Play a game you can win
(24:16) How to be a killer negotiator
(27:00) Turning down $75k
(30:39) 0 - 27 locations in 4 years
(43:50) Idea: Endurance events
(50:21) Idea: Taboo for recruiters
(51:37) Idea: AI Personal trainer
(56:45) Idea: SeatGeek for airlines
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Links:
• Back on My Feet - https://backonmyfeet.org/
• [solicore] - https://www.solidcore.co/
• 29029 - https://29029everesting.com/
• HYROX - https://hyrox.com/
• OxeFit - https://www.oxefit.com/
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Check Out Shaan's Stuff:
Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd
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Check Out Sam's Stuff:
• Hampton - https://www.joinhampton.com/
• Ideation Bootcamp - https://www.ideationbootcamp.co/
• Copy That - https://copythat.com
• Hampton Wealth Survey - https://joinhampton.com/wealth
• Sam’s List - http://samslist.co/
My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano
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