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[00:00:00.880 --> 00:00:05.680] Hey, Entrepreneurs, it's Steph here with a special invite just for you.
[00:00:05.680 --> 00:00:10.800] Do you want to experience what it's like to be part of our Entrepreneursa League community of founders?
[00:00:10.800 --> 00:00:12.400] Now is your chance.
[00:00:12.400 --> 00:00:21.360] You can join me this month at one of our upcoming Entrepreneursa League info sessions where I'm going to share with you all you're going to get access to when you join the community.
[00:00:21.360 --> 00:00:27.040] Plus, I'll be giving away some big bonuses that you will only be able to get access to when you attend live.
[00:00:27.040 --> 00:00:35.600] Head over to refer.entrepreneesa.com forward slash info session to join us at one of our virtual info sessions this month.
[00:00:35.600 --> 00:00:40.640] That's refer.entrepranista.com forward slash info session.
[00:00:40.640 --> 00:00:44.560] Or head over to the show notes right now and tap the link to join us.
[00:00:44.560 --> 00:00:49.200] I can't wait to meet you there and learn more about you and your business.
[00:00:49.840 --> 00:00:56.000] I created this event from scratch, put it on, and I also effed up the financial piece of that.
[00:00:56.000 --> 00:01:01.840] Like I was so focused on execution that I was like 50 grand over budget and it was like terrifying for me.
[00:01:01.840 --> 00:01:11.040] I almost got fired from my job, but I loved every second of the idea of like I created this thing from nothing and then it happened.
[00:01:11.040 --> 00:01:18.880] And that was like my first taste of I feel like I can be a really good entrepreneur if I figure out the financial piece of this stuff.
[00:01:26.160 --> 00:01:33.520] Many of us dream of making a difference, but what if you could build a thriving business while also creating social impact?
[00:01:33.520 --> 00:01:41.840] Ann Mollum is the founder behind SolidCore, a high-intensity, low-impact, full-body workout on a Pilates-inspired reformer.
[00:01:41.840 --> 00:01:46.320] Get ready because what Ann's about to share will transform your approach to entrepreneurship.
[00:01:46.320 --> 00:01:54.160] You'll hear all about the steps she took to transform the fitness industry and the valuable lessons she learned selling her business.
[00:01:54.160 --> 00:01:56.960] But Anne's success story, it doesn't end with SolidCore.
[00:01:56.960 --> 00:02:02.360] She's also the founder of Back on My Feet, a nonprofit that has changed thousands of lives.
[00:02:02.360 --> 00:02:06.680] Plus, she's a sought-after speaker, podcast host, and philanthropist.
[00:02:06.680 --> 00:02:14.520] Get ready to hear Ann's game-changing strategies for building a business empire and her biggest business secrets.
[00:02:17.720 --> 00:02:21.160] This is the Entrepreneurship Podcast presented by Social Fly.
[00:02:21.160 --> 00:02:31.880] It's the best business meeting you'll ever have with must-hear real-life looks at how leading women in business are getting it done and what it takes to build and grow a successful company.
[00:02:31.880 --> 00:02:37.880] It's beyond the Graham with no filters, no limits, and plenty of surprises.
[00:02:45.160 --> 00:02:48.360] Ann, we are so happy to have you here.
[00:02:48.360 --> 00:02:53.880] I have been following your entrepreneur journey actually ever since I heard you on a podcast.
[00:02:53.880 --> 00:02:56.440] And I'm just so fascinated by your story.
[00:02:56.440 --> 00:03:02.040] And I know we got to meet in person a few, I think it was like a few months ago at this point.
[00:03:02.280 --> 00:03:03.960] So happy to have you here.
[00:03:03.960 --> 00:03:05.000] Yeah, thanks for having me.
[00:03:05.000 --> 00:03:05.560] Hi, Seth.
[00:03:05.560 --> 00:03:06.760] Hi, Courtney.
[00:03:06.760 --> 00:03:08.040] So thrilled you're here, Anne.
[00:03:08.200 --> 00:03:13.160] Did you always know, Anne, when you were growing up that you wanted to start a business one day?
[00:03:13.160 --> 00:03:24.360] I didn't know it was going to be a business, but I did always know, or at least I felt very confident that I was quote unquote supposed to be somebody, whatever that meant.
[00:03:24.360 --> 00:03:27.720] And I knew, like, looking around, I grew up in North Dakota.
[00:03:27.720 --> 00:03:38.440] So I just remember being very curious about why everybody lived their life the way that I saw them living, and that there had to be another way to do this.
[00:03:38.440 --> 00:03:42.920] I saw, you know, a lot of homogeneous behavior.
[00:03:42.920 --> 00:03:44.960] Everybody was working Monday through Friday.
[00:03:44.960 --> 00:03:48.720] They would come home, frantically be running errands.
[00:03:44.680 --> 00:03:51.520] You know, my mom throwing laundry in, getting food ready.
[00:03:51.760 --> 00:03:53.440] We have to go to activities.
[00:03:53.440 --> 00:03:57.120] And it just felt like everybody was exhausted and checking boxes.
[00:03:57.120 --> 00:04:01.040] And then the weekends were for bigger errands and bigger chores.
[00:04:01.040 --> 00:04:04.560] And I just was like, I just think that there's a different way to live life.
[00:04:04.560 --> 00:04:15.360] So the curiosity of that really, I think, pulled me away from North Dakota and put me into situations where I was just trying new things and seeing what stuck.
[00:04:15.680 --> 00:04:18.560] How did you eventually get into Solid Core?
[00:04:18.560 --> 00:04:26.640] And I know there's quite the journey for you to get there, but what you've built with Solid Core and how you've exited Solid Core is so, so incredible.
[00:04:26.640 --> 00:04:29.040] So walk us through that path.
[00:04:29.040 --> 00:04:29.680] Oh my gosh.
[00:04:29.680 --> 00:04:31.120] Yeah, where do I start?
[00:04:31.120 --> 00:04:33.840] Because it feels like it's like the most recent chapter.
[00:04:33.840 --> 00:04:41.360] But my first taste with entrepreneurship was when I was working at this nonprofit and it was called the Committee of 70.
[00:04:41.360 --> 00:04:44.640] It was a political watchdog organization for the city of Philadelphia.
[00:04:44.640 --> 00:04:50.080] And I was in charge of like marketing and community director and community engagement, I guess.
[00:04:50.080 --> 00:04:53.120] And I wanted to put on a 5K.
[00:04:53.120 --> 00:04:54.560] I was a big runner back then.
[00:04:54.560 --> 00:04:59.200] And I'm like, we are in Philadelphia, the birthplace of American democracy.
[00:04:59.200 --> 00:05:07.920] And I had this idea to put on a 5K around election time called The Dash for Democracy with the tagline, Give Your Voice Legs.
[00:05:07.920 --> 00:05:14.160] So the whole theme was like, show up for whatever candidate you're supporting or cause you believe in.
[00:05:14.160 --> 00:05:16.560] And we would like run through the streets of Philadelphia.
[00:05:16.560 --> 00:05:24.560] And I created this event from scratch, put it on, and I also effed up the financial piece of that.
[00:05:24.560 --> 00:05:28.880] Like, I was so focused on execution that I was like 50 grand over budget.
[00:05:28.880 --> 00:05:30.840] And it was like terrifying for me.
[00:05:29.920 --> 00:05:33.640] I almost got fired from my job.
[00:05:33.960 --> 00:05:40.920] Um, but I loved every second of the idea of like I created this thing from nothing, and then it happened.
[00:05:41.240 --> 00:05:49.240] And that was like my first taste of I feel like I can be a really good entrepreneur if I figure out the financial piece of this stuff.
[00:05:49.240 --> 00:06:00.600] Um, so then I started my own nonprofit, which is called Back on My Feet, which is just running as a vehicle to help people who are living in homeless shelters change their identities so that we can actually change their life.
[00:06:00.920 --> 00:06:03.000] And then I did that for six and a half years.
[00:06:03.000 --> 00:06:06.920] Big story behind that, lots of lessons in that.
[00:06:06.920 --> 00:06:14.760] And then, when it became time for me to do something else, because I felt it, I knew, like, okay, I'm ready to move on.
[00:06:15.080 --> 00:06:20.520] I was in Los Angeles for Back on My Feet, opening up the chapter there.
[00:06:20.520 --> 00:06:23.480] And I walked by a Pilates studio.
[00:06:23.480 --> 00:06:31.000] And as somebody who considers herself a pretty legit athlete, that Pilates studio felt very cute and very LA.
[00:06:31.240 --> 00:06:34.440] And I'm like, I'm going to go do this little workout if I'm in LA.
[00:06:34.440 --> 00:06:35.640] And it was so hard.
[00:06:36.440 --> 00:06:38.520] I didn't know you could work out like that.
[00:06:38.520 --> 00:06:43.720] I didn't know that you could move your body so slowly and have it be so challenging.
[00:06:43.720 --> 00:06:48.120] And the next day, I was sore everywhere.
[00:06:48.120 --> 00:06:58.360] And I immediately thought, if I don't know about this, that means the majority of other people, particularly women, have no idea that you can work out this way.
[00:06:58.360 --> 00:07:02.760] And so I started taking Pilates back in New York, where I was at the time.
[00:07:02.760 --> 00:07:04.920] And my body started to transform.
[00:07:04.920 --> 00:07:18.480] I mean, I was like every other woman in the world doing cardio like it was my job and not really seeing like my body never looked the way that I felt like it should look based off of how much time and energy I put into working out.
[00:07:18.480 --> 00:07:26.800] And once Pilates happened, I started to, you know, see some muscle definition and tone and again, all the right areas.
[00:07:26.800 --> 00:07:38.000] So I felt really excited that I knew how to take my skill sets, which are building a high-quality branded experience, apply it to Pilates, and build a really big brand about it.
[00:07:38.000 --> 00:07:40.240] So I moved back to DC.
[00:07:40.240 --> 00:07:43.600] I took everything I had, which was 175K.
[00:07:43.600 --> 00:07:48.320] I mean, listen, there's a lot of emotions that I had to work through to get up the guts to do this.
[00:07:48.320 --> 00:07:50.160] And I had my own fair share of doubts.
[00:07:50.160 --> 00:07:55.920] It wasn't just like, you know, didn't have to work through any of these limiting beliefs that all of us have.
[00:07:55.920 --> 00:08:08.400] But yeah, I put in all my money to open the first studio and fortunately was in the situation where everybody had the same experience I did, which was, what was that?
[00:08:09.040 --> 00:08:14.880] And the whole city of DC kind of fell in love with this workout and Solid Core.
[00:08:14.880 --> 00:08:20.480] And I opened, I don't know, I think it was five or six within the first 12 months.
[00:08:20.480 --> 00:08:20.880] Wow.
[00:08:20.880 --> 00:08:30.480] And we just like solidified ourselves as like the player, obviously in DC, but that like, oh, we're going to grow this thing across the country.
[00:08:30.480 --> 00:08:32.480] That is truly incredible.
[00:08:32.480 --> 00:08:41.120] And I can't even imagine like the physical aspect of not just the workout, but opening up five locations over the course of one year.
[00:08:41.120 --> 00:08:46.480] Like that just sounds like wild that you were able to do that so quickly in such a short amount of time.
[00:08:46.480 --> 00:08:55.840] And I want to go back to something you said when you were just sharing your story about initially starting that nonprofit, because you said there were lots of learning lessons from that experience.
[00:08:55.840 --> 00:09:00.000] Can you share some of those learning lessons before we then get into everything you built with Solid Core?
[00:09:00.440 --> 00:09:04.280] And did you take any of those learning lessons with you into Solid Core?
[00:09:04.600 --> 00:09:05.000] Yes.
[00:09:05.000 --> 00:09:08.520] I mean, people ask that a lot, like, what's the difference between nonprofit and for-profit?
[00:09:08.520 --> 00:09:14.760] And when you're starting anything, your mindset has to be right, you know, and it's like all about execution.
[00:09:14.760 --> 00:09:22.680] So with back on my feet, you know, in the beginning, and what stops most entrepreneurs is fear and doubt and failure, right?
[00:09:22.680 --> 00:09:25.000] The biggest thing is, what if it doesn't work out?
[00:09:25.000 --> 00:09:26.440] And what if it fails?
[00:09:26.440 --> 00:09:31.640] And most people, that thought alone like gets them to be like, okay, I'm not going to do it.
[00:09:31.640 --> 00:09:38.200] We actually convince ourselves we're being smart because we go through all these diabolical situations in our head.
[00:09:38.200 --> 00:09:42.840] And then we think, oh my God, it'd be so stupid to even to even think I could do that.
[00:09:43.480 --> 00:09:59.960] And so when I discovered that like running was actually a tool that was going to change the way that these individuals saw themselves, meaning we had to work on their whole self-worth, their self-value, their self-confidence, self-respect.
[00:09:59.960 --> 00:10:02.840] These guys had a very low sense of self and self-esteem.
[00:10:02.840 --> 00:10:10.840] How are they possibly going to move out of a homeless shelter and get a job and a home if they don't like, love, or respect themselves?
[00:10:10.840 --> 00:10:18.680] And so what we did was created a community that allowed them to be celebrated, to be appreciated, valued, and seen.
[00:10:18.680 --> 00:10:23.560] And they kept showing up because just like them and all of us, that's what we're all looking for.
[00:10:23.560 --> 00:10:25.080] We seek out those environments.
[00:10:25.080 --> 00:10:36.360] We seek out relationships, jobs, you name it, where we are filled with those types of emotions and feelings because everybody wants to be appreciated and valued for what they're doing.
[00:10:36.360 --> 00:10:40.440] And so when I saw that, I'm like, God, there's really something here.
[00:10:40.400 --> 00:10:46.560] There, this is so much more than just, you know, us running and helping kind of an hour a day.
[00:10:46.560 --> 00:10:48.640] And this is what I'm supposed to do with my life.
[00:10:48.640 --> 00:11:00.400] Like, I'm going to build this into a fully fledged nonprofit where I'm going to build job partnerships and employment training and housing partnerships, you know, but we've got to start with the self.
[00:11:00.400 --> 00:11:03.120] And everybody thought I was absolutely like insane.
[00:11:03.120 --> 00:11:04.320] They thought it was admirable.
[00:11:04.320 --> 00:11:08.880] They thought it was like, this is really nice and sweet that you want to help so badly, Anne.
[00:11:08.880 --> 00:11:11.760] But like, come on, like, these guys are homeless.
[00:11:11.760 --> 00:11:12.560] They're going to quit.
[00:11:12.560 --> 00:11:14.800] What happens when it gets winter in Philly?
[00:11:14.800 --> 00:11:18.800] You know, like, they just thought I was very polyanna.
[00:11:19.920 --> 00:11:22.800] But I saw something that nobody else saw.
[00:11:22.800 --> 00:11:27.520] And I think I felt it in myself of knowing the environments that I thrived in.
[00:11:27.520 --> 00:11:29.200] And my dad's also an addict, right?
[00:11:29.200 --> 00:11:31.600] So I know you can't force anybody to change.
[00:11:31.600 --> 00:11:37.200] And how people change is by giving them the opportunity and the environment to be successful.
[00:11:37.200 --> 00:11:38.720] And that's what we were doing.
[00:11:38.720 --> 00:11:42.320] And these guys, again, were showing up and they wanted to be there.
[00:11:42.320 --> 00:11:46.480] So they were taking this action on a day-to-day basis.
[00:11:46.480 --> 00:11:55.920] So the biggest first lesson I learned with Back on My Feet was that it's up to me to be the kind of leader that helps people realize that they are capable of excellence.
[00:11:55.920 --> 00:11:59.120] And I'm going to create an environment that's going to bring it out of them.
[00:11:59.120 --> 00:12:01.040] And that's stuff that you can apply.
[00:12:01.040 --> 00:12:09.680] Like if you are an entrepreneur and a manager and a leader, rewind what I just said because I hear so many people talk about, oh my God, I just can't find good people.
[00:12:09.680 --> 00:12:11.120] I can't find the right talent, whatever.
[00:12:11.120 --> 00:12:15.680] And I'm like, you know, that's sort of pushing the responsibility on everybody else.
[00:12:15.680 --> 00:12:18.960] But if you can say, okay, do I have work to do as a leader?
[00:12:18.960 --> 00:12:20.320] What type of leader am I?
[00:12:20.320 --> 00:12:22.320] Can I be doing a better job?
[00:12:22.320 --> 00:12:26.320] Am I creating the kind of culture where people get to be successful?
[00:12:26.320 --> 00:12:27.520] Do they like being here?
[00:12:27.520 --> 00:12:34.680] And that sometimes takes some really hard feedback from people who've worked with you and to ask, hey, what do I bring out the best in you?
[00:12:34.680 --> 00:12:35.000] Right?
[00:12:35.000 --> 00:12:40.200] Like, I always compare so much to personal relationships because we all have experience in that.
[00:12:40.200 --> 00:12:44.200] And it's my job as my husband's wife to bring out the best in him.
[00:12:44.200 --> 00:12:46.920] And it's his job as my husband to bring out the best in me.
[00:12:46.920 --> 00:12:51.400] The relationships that don't make it, usually the partner makes you feel like crap, right?
[00:12:51.400 --> 00:12:56.200] Or you find yourself just like, you know, not being a better version of who you are.
[00:12:56.200 --> 00:13:04.360] And so I was like, wow, this is my responsibility to be that kind of, you know, leader for these individuals.
[00:13:04.360 --> 00:13:07.320] And I carried that through, you know, through Solid Core.
[00:13:07.320 --> 00:13:12.280] And also with Back on My Feet stuff, it was like execution, execution, execution.
[00:13:12.280 --> 00:13:16.600] We get stopped in our tracks a lot because we don't know how to do something.
[00:13:16.920 --> 00:13:26.440] And I also reminded myself that anything that is created, somebody had to come up with the idea and decide to have a day one.
[00:13:26.760 --> 00:13:39.240] And as long as you know, like what the first step is, the information you're going to get by executing step one is going to lead you to what you need to do for step two.
[00:13:39.240 --> 00:13:47.320] But too often, people try to plan out step one, two, three, four, five, six, seven, eight, and then they get to step eight and they're like, well, I don't, I don't know how to do that.
[00:13:47.320 --> 00:13:49.800] Or like, that just seems so blah, blah, blah.
[00:13:49.800 --> 00:13:52.520] And you're getting way too ahead of your skis.
[00:13:52.520 --> 00:13:56.360] So, for example, I remember this guy asking me when I was running back on my feet.
[00:13:56.360 --> 00:14:00.600] He's like, Ann, I really, really want to help, you know, underprivileged kids learn music.
[00:14:00.600 --> 00:14:06.040] And I'm like, then go find an underprivileged child and go teach him music.
[00:14:06.040 --> 00:14:07.800] That is your first step.
[00:14:07.800 --> 00:14:09.720] Everybody overcomplicates it.
[00:14:09.720 --> 00:14:13.160] You know, it's no different with Solid Core, Courtney, of like what's similar.
[00:14:13.480 --> 00:14:23.280] There's no way I could have built an empire if I didn't execute really well on the first studio to create the demand for the second studio.
[00:14:23.280 --> 00:14:32.720] And like I just kind of continued to focus on the quality and then using that momentum of the quality to get the, you know, second, third, fourth, fifth location open.
[00:14:32.720 --> 00:14:39.440] And I can talk, you know, a little bit about some strategies I use with landlords and cash flow if that would be interesting to you guys too.
[00:14:39.440 --> 00:14:50.240] But that's, it's, it's usually the limiting beliefs and the fear of failure that stops people versus you know, kind of tangible, actionable items, if that makes sense.
[00:14:50.240 --> 00:14:56.560] Did you always have this mindset or did you, um, did you learn it along the way?
[00:14:56.560 --> 00:15:05.600] And is there, do you ever still have any doubts or are you always, you know, super, super confident because that's how you come across.
[00:15:05.600 --> 00:15:17.360] And I think it's incredible and really important, especially for all of the women listening is you can do it if you have changed your mindset, but it's, it can be hard for some to like get over that doubt.
[00:15:17.360 --> 00:15:17.680] Yeah.
[00:15:17.680 --> 00:15:22.560] So listen, I think you can do anything if you want it bad enough.
[00:15:22.560 --> 00:15:25.600] And obviously the operative words there are bad enough.
[00:15:25.600 --> 00:15:28.560] There's a lot of people say they want to be fit, right?
[00:15:28.560 --> 00:15:32.320] And they want to, you know, look a certain way or they want to be able to run a marathon.
[00:15:32.320 --> 00:15:39.040] But wanting it bad enough means you're going to the gym every day and you're saying no to a lot of whatever foods or whatever.
[00:15:39.120 --> 00:15:45.200] You're getting up and training on Saturday morning when it's raining outside and it's not optimal weather.
[00:15:45.200 --> 00:15:51.840] You know, so I always challenge people because entrepreneurship is a ton of work and commitment.
[00:15:51.840 --> 00:16:02.200] And if what you're doing isn't something that you care so deeply about, which for me, back on my feet and solid core, and people ask a lot, like, Ann, you must have had to sacrifice so much.
[00:15:59.840 --> 00:16:05.880] And I think they're shocked to hear me say, I didn't sacrifice anything.
[00:16:06.200 --> 00:16:11.400] I was in alignment with who I was and what I wanted to create and build.
[00:16:11.400 --> 00:16:15.800] It was like what I was supposed to be doing, and I loved every second of it.
[00:16:15.800 --> 00:16:29.240] If you feel like you're sacrificing so much of other things you'd rather be doing, you're going to quit and you're going to look for reasons to quit because you're not in alignment with your vision of what you want to be doing with your time.
[00:16:29.240 --> 00:16:30.920] So I think that that's really important.
[00:16:30.920 --> 00:16:44.520] So the other thing is, when my parents separated when I was 16, when my dad's addictions came to the surface, you know, I can remember even back then thinking about, hmm, it's pretty easy to be a victim to all this, right?
[00:16:44.520 --> 00:16:45.960] Like I got to easy out here.
[00:16:45.960 --> 00:16:47.080] My dad's an addict.
[00:16:47.080 --> 00:16:48.600] My parents are divorced.
[00:16:48.600 --> 00:16:49.560] I could act out.
[00:16:49.560 --> 00:16:52.040] I could start behaving poorly.
[00:16:52.040 --> 00:16:58.600] But at the end of the day, if I do that, the only person who loses is me, you know?
[00:16:58.600 --> 00:17:06.200] So I'm not oblivious to the fact that a lot of people don't have confidence and a lot of people are afraid to try.
[00:17:06.520 --> 00:17:14.760] And I have such a leg up on people because I refuse to talk to myself in a disempowering way.
[00:17:14.840 --> 00:17:20.440] Doesn't mean I know all the answers and don't make mistakes, but I refuse to not empower myself.
[00:17:20.440 --> 00:17:24.040] And I have won the game, you know, twice in entrepreneurship.
[00:17:24.040 --> 00:17:32.040] And I think I won it with my husband because I'm willing to put myself out there and see what I'm capable of.
[00:17:32.040 --> 00:17:37.080] And I trust myself to be resourceful enough to figure out the problem.
[00:17:37.080 --> 00:17:42.280] If I don't have the answer, it's my job to figure out what the answer is and who can, you know, who can help.
[00:17:42.280 --> 00:17:50.000] But I just think I had way more to lose, Courtney, if I chose to not be confident than if I chose to be confident.
[00:17:50.640 --> 00:17:53.200] I'm so glad you just shared this story.
[00:17:53.200 --> 00:18:00.720] And I think it's so relatable and helpful for people to hear because building a business, as you shared, you know, when you started SolidCore, you had to, you were scared.
[00:18:00.720 --> 00:18:04.720] You had to take your own personal funding and bet on yourself.
[00:18:04.720 --> 00:18:09.760] And as I always say, just get started, just start building this business and see what happens.
[00:18:09.760 --> 00:18:13.360] But you, you know, surrounded yourself with community and people to help you.
[00:18:13.360 --> 00:18:22.560] It's one of the reasons why we started our Entrepreneurs de League community because we can all do so much more together when we champion each other, when we help each other, when we ask for help.
[00:18:22.560 --> 00:18:25.600] And nowadays, like no one has to go into business alone.
[00:18:25.600 --> 00:18:28.000] There's so much support and opportunity out there.
[00:18:28.320 --> 00:18:31.120] That's like why we started this podcast, why we have this community.
[00:18:31.120 --> 00:18:33.600] Like we can all share these stories and help.
[00:18:33.600 --> 00:18:38.480] And you just have to have that like gusto to like jump in and do it and take it one step at a time.
[00:18:38.480 --> 00:18:41.280] We can all figure everything out along the way when we help each other.
[00:18:41.280 --> 00:18:41.920] Well, yeah.
[00:18:41.920 --> 00:18:44.480] And, you know, again, I'm really interested in statistics.
[00:18:44.480 --> 00:18:48.800] And 76% of people at the end of their life have regret.
[00:18:48.800 --> 00:18:50.640] I mean, that's a big chunk of people, right?
[00:18:50.640 --> 00:19:02.000] That's if we have our producer on here, Travis, three out of four of us, statistically speaking, would have regret, not because of what we did or what we said, but because of what we didn't do.
[00:19:02.000 --> 00:19:10.720] And that to me is so stressful to be like, oh my God, I never had a courage practice or a fear practice.
[00:19:10.720 --> 00:19:17.200] I never worked hard enough to get the courage to really play big in life and try to hit the home run.
[00:19:17.200 --> 00:19:19.520] Like, that's just heartbreaking to me.
[00:19:19.520 --> 00:19:29.960] So, I just, you know, like you just, it's like working to get over the fear, do whatever you have to do to get over the fear of rejection and failure.
[00:19:29.440 --> 00:19:35.320] And I also think hedging your bets as an entrepreneur is the worst thing you can do.
[00:19:35.880 --> 00:19:46.440] I remember, I mean, this is also such an important lesson, and I've talked about this before, but I had an offer for $75,000 for 30% stake in Solid Core before I even opened my first studio.
[00:19:46.440 --> 00:20:00.200] It was somebody who watched, he was on the board of Back on My Feet, and it was like, wow, Ann grew this thing across the country, 12 markets in four years, and, you know, got a bunch of people to pay attention, pay attention to people who are homeless, which is difficult to do.
[00:20:00.200 --> 00:20:01.560] And so he was like, I'll give you that.
[00:20:01.560 --> 00:20:03.000] And I'm like, oh, gosh, that's a lot of money.
[00:20:03.000 --> 00:20:03.800] Maybe I should take it.
[00:20:03.800 --> 00:20:09.400] That's like so smart for me to, you know, just put $75,000 of my own money aside.
[00:20:09.400 --> 00:20:11.320] And if this thing doesn't go well.
[00:20:11.320 --> 00:20:19.000] And if you're smart enough to catch that kind of talk, and it was like, wait a minute, now I'm already talking about this thing not working.
[00:20:19.000 --> 00:20:27.160] I'm already saying out loud, if this doesn't work, like I can't have any of that as I'm ready to go all in and open this studio.
[00:20:27.160 --> 00:20:35.720] So because I had enough money to do it on my own, if I would have taken that guy's money in my mind, I was like, then I shouldn't do this at all.
[00:20:35.720 --> 00:20:40.520] All I'm saying is I actually don't trust myself and believe that I'm capable of doing this.
[00:20:40.520 --> 00:20:44.680] And taking his money is only going to reaffirm that thought.
[00:20:44.680 --> 00:20:46.200] And I'm dead in the water.
[00:20:46.200 --> 00:20:47.640] So I'm like, I can't take this.
[00:20:47.640 --> 00:20:48.760] I got to go all in.
[00:20:48.760 --> 00:20:52.360] And I need to be forced to figure it out when this gets hard.
[00:20:52.360 --> 00:20:58.360] And guys, in the first year, I got evicted from my first location and I got sued twice.
[00:20:58.360 --> 00:21:04.840] Now, if I had an estate, I don't know if I would have been ready to fight and like figure that out.
[00:21:04.840 --> 00:21:07.640] I might have been like, oh my God, I screwed up here.
[00:21:07.800 --> 00:21:09.080] You know, this is too hard.
[00:21:09.080 --> 00:21:13.960] And at least I have $75,000 of my own money over here.
[00:21:13.960 --> 00:21:18.640] And I'm not going to, you know, grow solid core or this is too scary and too hard.
[00:21:18.640 --> 00:21:19.840] Really, really great advice.
[00:21:19.840 --> 00:21:23.760] And I love that mindset of just going all in.
[00:21:23.760 --> 00:21:27.440] I feel like I'm guilty sometimes of hedging my bets.
[00:21:27.440 --> 00:21:32.560] And this, you know, is a really great personal reminder for me.
[00:21:32.560 --> 00:21:41.680] Coming up, Anne shares her biggest secrets for building a business to sell and how you can create a plan for yourself to ensure long-term success.
[00:21:48.000 --> 00:21:49.280] Hi, Entrepreneurs.
[00:21:49.280 --> 00:21:50.320] It's Steph here.
[00:21:50.320 --> 00:21:56.960] As a founder, I know firsthand that building a business can feel so lonely, but it doesn't have to.
[00:21:56.960 --> 00:22:01.600] And that's why we created our Entrepreneursa Founders Weekend Wealth and Wellness Retreat.
[00:22:01.600 --> 00:22:03.760] And I can't wait to meet you in person there.
[00:22:03.760 --> 00:22:17.920] So you're officially invited to join us from April 30th to May 3rd, 2026 at the stunning PGA National Resort in Palm Beach Gardens, Florida for three transformative days of connection, collaboration, and real business growth.
[00:22:17.920 --> 00:22:20.080] This isn't just another business conference.
[00:22:20.080 --> 00:22:28.480] It is a curated retreat designed to help you build authentic, lasting relationships with women who truly understand your journey.
[00:22:28.480 --> 00:22:35.280] From business panels and workshops to wellness activations and so much more, this is the room that you need to be in.
[00:22:35.280 --> 00:22:46.800] So if you are ready to invest in yourself and your business and your vision and your next level of success, head over to entrepreneurs.com forward slash foundersweekend to reserve your ticket today.
[00:22:46.800 --> 00:22:55.040] That's entrepreneursa.com forward slash foundersweekend or head over to the show notes right now and tap the invitation to reserve your ticket.
[00:22:55.040 --> 00:22:56.240] I'll see you there.
[00:23:06.520 --> 00:23:08.840] You mentioned going after the home run.
[00:23:08.840 --> 00:23:12.680] You've hit a few home runs now with SolidCore.
[00:23:12.680 --> 00:23:17.480] I would love to hear your tips on scaling and also working with private equity.
[00:23:17.480 --> 00:23:20.200] I think you sold two or three times to private equity.
[00:23:20.200 --> 00:23:22.760] Would love to understand that process as well.
[00:23:22.760 --> 00:23:25.240] Yeah, so I'm happy to talk about that.
[00:23:25.240 --> 00:23:32.040] So the tips with scaling and you have to figure out, you know, your own business and ask yourself the question of one, this is what I did.
[00:23:32.040 --> 00:23:33.240] What's my end game?
[00:23:33.240 --> 00:23:33.640] Right.
[00:23:33.640 --> 00:23:43.480] I knew from a very early start, like literally within the first, I think I wrote it down on the first night I opened that I'm going to open a hundred of these and I'm going to sell this company.
[00:23:43.480 --> 00:23:56.520] And so you might not have that vision from the very, very beginning, but I always encourage founders to get very clear and very specific on what winning looks like and what the Super Bowl looks like and what you're driving toward.
[00:23:56.520 --> 00:24:01.320] Because once you do that, Courtney, your decision making actually becomes simplified.
[00:24:01.320 --> 00:24:04.200] You know, if you're like, I don't know, I just want to build it.
[00:24:04.200 --> 00:24:06.600] Well, when opportunities come, right?
[00:24:06.600 --> 00:24:10.120] So franchising Solid Core, it was like, not happening.
[00:24:10.120 --> 00:24:15.240] You know, like someone wanted to buy Solid Core, you know, when I had 25 locations and I was like, not happening.
[00:24:15.240 --> 00:24:18.840] Like that's not, you know, I'm going to get this thing to 100.
[00:24:18.840 --> 00:24:20.520] That's my goal and my vision.
[00:24:20.520 --> 00:24:21.960] You know, COVID happened, right?
[00:24:21.960 --> 00:24:24.520] People were pivoting to digital marketing, whatever.
[00:24:24.520 --> 00:24:26.200] And I'm like, that's not our plan.
[00:24:26.200 --> 00:24:29.720] And we are better than anybody else at scaling brick and mortar.
[00:24:29.720 --> 00:24:33.240] And I believe in my heart of hearts that in-person fitness is coming back.
[00:24:33.240 --> 00:24:39.240] I think all of the news around, you know, the gym is dead, you know, at-home fitness, no one will ever go to a gym again.
[00:24:39.240 --> 00:24:40.520] I'm like, these people are crazy.
[00:24:40.520 --> 00:24:44.440] This is what the media does with their fear-mongering and their bullshit articles.
[00:24:44.440 --> 00:24:49.600] And there's nobody remember 9-11 when all the media said that no one was going to fly again?
[00:24:49.600 --> 00:24:56.640] And I think people are on planes, you know, so like we just doubled down on what our mission and vision was.
[00:24:56.960 --> 00:24:58.720] And that's really, really important.
[00:24:58.720 --> 00:25:05.920] The second one to scaling is asking yourself what's standing in your way from scaling at the level that you need to.
[00:25:05.920 --> 00:25:12.640] Because let's face it, for brick and mortar, there's a lot of places that open one or two or three and they go so slow.
[00:25:12.640 --> 00:25:14.720] And I'm like, you're never going to get there.
[00:25:14.720 --> 00:25:18.240] And you can't actually attract funding or private equity.
[00:25:18.240 --> 00:25:26.640] Like I would never invest in a, if someone came to me that's been around for five years and they have six locations, I'd be like, no, you guys are not the right operators and you're not the right people.
[00:25:26.640 --> 00:25:34.160] If you couldn't figure out how to scale faster than that, you're too scared and you can't be scared as a CEO or you don't have the right skill sets to do this.
[00:25:34.160 --> 00:25:41.440] And so what was getting in my way at Solid Core when I thought about real scalability was the landlords, right?
[00:25:41.440 --> 00:25:44.720] Like they wanted security deposits, like 30, 50 grand.
[00:25:44.720 --> 00:25:51.200] I'm like, I don't have that kind of cash flow to be giving every landlord or every location a security deposit.
[00:25:51.440 --> 00:25:55.280] They didn't want to give me a lot of tenant improvement dollars because I was a young company, right?
[00:25:55.280 --> 00:25:58.000] So they think, oh, you know, we don't know if this is going to work out.
[00:25:58.000 --> 00:26:04.080] We would rather have a CBS or a tenant that's, you know, high grade quality tenant, which I understand.
[00:26:04.640 --> 00:26:06.880] And then the third one was rent debatement, you know?
[00:26:06.880 --> 00:26:12.240] So I made it a point to meet face to face with the landlords because I had to get them to like me.
[00:26:12.240 --> 00:26:15.960] I had to get them to trust me, and I had to get them to root for me.
[00:26:15.920 --> 00:26:22.480] And I also had to explain the deal that I could do and also ask them what's important to them.
[00:26:22.480 --> 00:26:22.720] Right.
[00:26:22.720 --> 00:26:34.200] And what I found was it was the overall 10-year term and the financial total financials of that deal more so than just the first six months.
[00:26:34.520 --> 00:26:46.840] So, you know, I actually, in some cases, ended up giving the landlord more in year seven, eight to actually make up for the request I was making in the beginning, which was I need six months abatement, right?
[00:26:46.840 --> 00:26:51.960] Because this is a very cashflow-heavy business, and I need the cash to then roll into the next studio.
[00:26:51.960 --> 00:26:59.320] Because trust me, the more I get open of these, it's better for me and it's better for you because I'm going to build a brand.
[00:26:59.320 --> 00:27:06.200] Um, and I need this, I need this company to be, you know, well-known and have a lot of locations for people to go to.
[00:27:06.200 --> 00:27:13.000] And the tenant improvement dollar is like, I, it's only me, I don't have a lot of cash, I don't have 400 grand to put into every location.
[00:27:13.000 --> 00:27:23.160] So, like, I need you to pay for that, and you can charge me for it in year six or seven or yet, or eight, but you have to help me out a little bit in the beginning if you want me to be around for 10 years.
[00:27:23.160 --> 00:27:28.120] And I'm really proud of the fact that, like, we only closed, I think, four.
[00:27:28.120 --> 00:27:32.680] I mean, there might have been now, but like four locations of Solid Core, and we did it in COVID.
[00:27:32.680 --> 00:27:35.240] We had the opportunity to close them, so we closed them.
[00:27:35.240 --> 00:27:44.680] But for the most part, out of you know, we had 80 locations by the time COVID hit, like, we only closed four in COVID, and they just weren't the right locations before COVID.
[00:27:44.680 --> 00:27:49.000] It wasn't that COVID did it, but um, so keeping that commitment to the landlord was really great.
[00:27:49.320 --> 00:27:50.920] And then, private, oh, sorry, go ahead.
[00:27:50.920 --> 00:27:55.400] I was gonna say the strategy that you just shared and how you negotiated with the landlord.
[00:27:55.400 --> 00:27:56.600] How did you come up with that?
[00:27:56.600 --> 00:27:58.760] Was that just a creative thing that you came up with?
[00:27:58.760 --> 00:28:03.560] Did you work with a coach or consultant to help share that type of strategy with you?
[00:28:03.560 --> 00:28:09.720] No, I mean, again, like some sometimes you don't know where this stuff comes from, but like it was out of necessity for me.
[00:28:09.720 --> 00:28:14.360] I knew, I knew I had the talent to scale because I did it at back of my feet.
[00:28:14.360 --> 00:28:16.880] I knew I knew what to do operationally.
[00:28:14.680 --> 00:28:19.520] And again, it was like, what's standing in my way is the cash.
[00:28:19.680 --> 00:28:23.520] And so I have to get the landlords, you know, on my side here to do that.
[00:28:23.520 --> 00:28:29.040] I mean, those build outs, right, were the most, the highest cost to the business at the time.
[00:28:29.040 --> 00:28:32.320] So I always felt too, this is another scaling lesson.
[00:28:32.320 --> 00:28:39.920] As the CEO and founder, it is my job to always look at and say, where's the most financial impact, whether it's revenue or cost.
[00:28:40.240 --> 00:28:41.680] And that's where I spend my time.
[00:28:41.680 --> 00:28:47.600] You know, so I, in the first studio, was coaching 20 classes, you know, a week at the first location.
[00:28:47.600 --> 00:28:55.040] It was actually the best use of my time to infiltrate and indoctrinate, you know, my personality in the culture, right?
[00:28:55.040 --> 00:29:03.920] But I could easily hire additional coaches who got to see how I operated, got to see how I interacted, you know, with the clients.
[00:29:03.920 --> 00:29:05.360] And then people would replicate that.
[00:29:05.360 --> 00:29:12.240] And we, you know, taught people, you know, what does it mean to be a coach at Solicor, the kind of culture and community that you have to execute.
[00:29:12.240 --> 00:29:13.280] So that was easy.
[00:29:13.280 --> 00:29:14.480] We started hiring coaches.
[00:29:14.480 --> 00:29:16.880] We actually started hiring them from our client base.
[00:29:16.880 --> 00:29:18.560] I coached less and less.
[00:29:18.560 --> 00:29:23.280] And my skill sets were a lot in vision, strategy, and negotiation.
[00:29:23.280 --> 00:29:28.160] So the landlords working with the general contractors on the build outs, right?
[00:29:28.160 --> 00:29:31.440] So instead of net 30 terms, I would ask for net 60 terms.
[00:29:31.440 --> 00:29:32.240] Why?
[00:29:32.240 --> 00:29:36.480] Because the studios only took about eight to 10 weeks to get open at that time.
[00:29:36.480 --> 00:29:43.200] So by the time the build out was done, I was already doing pre-sales and sales and I was getting, you know, 30, 40, 50K in the door.
[00:29:43.200 --> 00:29:45.360] So awesome, cool, I can pay the bill with that.
[00:29:45.360 --> 00:29:54.800] Like, I was just, you know, it was a real, like, you know, again, I was, I was pretty good with the cash flow and the money, but I was cutting it really close.
[00:29:54.800 --> 00:29:58.880] And I had to ask favors of folks to ask to give a little bit extra time.
[00:29:59.280 --> 00:30:01.080] But you have to ask those things.
[00:30:01.080 --> 00:30:03.400] And a lot of people think, like, oh, I can't ask that.
[00:29:59.520 --> 00:30:04.920] I'm like, you know, you can.
[00:30:04.920 --> 00:30:09.400] And I just did what I had to do to get multiple locations open.
[00:30:09.880 --> 00:30:14.280] Did you ever take out any loans or were you just really creative with payment terms?
[00:30:14.600 --> 00:30:15.400] Payment terms.
[00:30:15.400 --> 00:30:17.800] I took out zero loans at Solid Core.
[00:30:18.040 --> 00:30:19.640] Solid Core had zero debt.
[00:30:19.640 --> 00:30:24.600] I mean, I don't actually know if they even have debt now, but we never ever had debt on the business.
[00:30:24.920 --> 00:30:28.360] And then at what point did you get approached by private equity?
[00:30:28.360 --> 00:30:29.800] I approached them.
[00:30:30.360 --> 00:30:34.920] So, well, there was somebody who came along early that wanted to buy, you know, but I wasn't interested in that.
[00:30:34.920 --> 00:30:46.600] And that actually got me like, but I'm going to need to have to raise money here at some point because I'm opening, call it, I think, I think the most I got open on my own was six or seven in a year.
[00:30:47.000 --> 00:30:49.000] And again, it was cash restrictive, right?
[00:30:49.000 --> 00:30:55.000] And I knew I needed to level up my talent and I needed more cash to get more studios open because I was going to have to outlay a lot more.
[00:30:55.000 --> 00:31:02.440] So by the time I got to 25 locations, this was 2017, so four years into the business.
[00:31:02.920 --> 00:31:05.800] I'm like, if I'm going to get to 100, it's going to take me a long time.
[00:31:05.800 --> 00:31:13.320] Like, I know I can get 20 to 30 of these open in a year because it just becomes like an assembly line of what has to happen when.
[00:31:13.640 --> 00:31:15.880] And I just need more money.
[00:31:15.880 --> 00:31:21.880] So I got connected to my lawyer, Steven Seisser, over at Lowenstein, who's amazing.
[00:31:21.880 --> 00:31:24.440] I got connected to him through Soul Cycle Founders.
[00:31:24.440 --> 00:31:27.880] And Steve actually connected me to five private equity shops.
[00:31:27.880 --> 00:31:31.320] Like I sent him over all of our data room and our financials.
[00:31:31.640 --> 00:31:36.120] And that was our first, you know, growth round of capital that we took.
[00:31:36.360 --> 00:31:39.000] And I was very specific about what I wanted.
[00:31:39.000 --> 00:31:42.200] And I was going to take some money off the table at this point.
[00:31:42.440 --> 00:31:45.360] I also don't think it's admirable to be a starving founder.
[00:31:44.920 --> 00:31:47.600] And private equity will try to convince you of that.
[00:31:48.240 --> 00:31:53.360] And I had to tell, I took six million, as I said, so I had to tell who they're like, we don't want to give you $6 million, Anne.
[00:31:53.440 --> 00:31:54.640] Like, you know, we want you fully.
[00:31:54.720 --> 00:31:59.520] I'm like, guys, listen, I opened 25 of these in four years.
[00:32:00.080 --> 00:32:04.960] If you think I'm in this for $6 million, one, like, you're kidding yourself, and you shouldn't do this deal.
[00:32:04.960 --> 00:32:11.840] I'm giving you any of those vibes, but I don't want to be financially hungry, you know, even down the road.
[00:32:11.840 --> 00:32:15.360] $6 million aside was enough to be like, cool, great, I'm good.
[00:32:15.360 --> 00:32:17.360] Let's go grow the business.
[00:32:18.000 --> 00:32:23.360] And I also had a private equity partner that I'd gotten close to at this particular shop, and he was my big advocate.
[00:32:23.360 --> 00:32:27.440] And he was just like, guys, if one thing I have learned about Ann, she wants to win.
[00:32:27.440 --> 00:32:29.520] She is not in this for six whatever.
[00:32:29.520 --> 00:32:30.640] Like, she wants to win.
[00:32:30.640 --> 00:32:35.440] So I laid out a plan for them of what putting $12 million into the company looked like.
[00:32:35.440 --> 00:32:39.600] And that frankly would have gotten us to 100 locations if COVID didn't get in the way.
[00:32:39.600 --> 00:32:45.840] So we opened 50 additional locations in the next 28 months, which was awesome.
[00:32:45.840 --> 00:32:48.400] So like we did what we said we were going to do.
[00:32:48.400 --> 00:32:51.360] And then we, I was, I just hired a banker.
[00:32:51.360 --> 00:33:04.880] We were like all set because we were, we would have gotten to 100 locations by the end of 2020, but obviously COVID showed up and we had to pivot a lot from, you know, from revenue coming in the door.
[00:33:04.880 --> 00:33:08.960] You don't ever factor in like, oh, what's the business going to look like when you go to zero?
[00:33:09.360 --> 00:33:15.040] So it was, it was obviously a huge pivot, but I'm really grateful for what happened in COVID.
[00:33:15.040 --> 00:33:16.560] I know it caused a lot of tragedy for people.
[00:33:16.560 --> 00:33:23.760] So that aside, I really learned a lot about the kind of leader that I am and how tough I am and how strategic I am.
[00:33:23.760 --> 00:33:28.080] And I am really grateful for that experience and those lessons.
[00:33:28.080 --> 00:33:35.000] But yeah, we actually raised money again in 2021 because I wanted to get ahead of our competition.
[00:33:35.320 --> 00:33:41.560] And if you remember in COVID, I don't know where you guys were in COVID, but things were very different for red states and blue states.
[00:33:41.560 --> 00:33:50.920] And I was like, we are raising money and we are going to get open in red states because there's less restrictions there and our studios that we have in red states were killing it.
[00:33:50.920 --> 00:33:55.800] While places in New York, right, we were still having to be open, shut down, masks, no masks.
[00:33:55.800 --> 00:34:01.080] Like it was a yo-yo and it was very hard to continue to execute in those markets.
[00:34:01.080 --> 00:34:10.680] But yeah, we opened 11 new locations in 2021 while most people were like reopening their old studios or closing even some down.
[00:34:10.680 --> 00:34:14.200] So we played offense really, really hard.
[00:34:14.200 --> 00:34:21.960] And we came out of that as like being the premium boutique fitness brand and really creating a name for ourselves.
[00:34:21.960 --> 00:34:28.040] When you first sold to private or took on private equity dollars, were you making money along the way?
[00:34:28.040 --> 00:34:30.040] Or was that your first big payday?
[00:34:30.040 --> 00:34:32.600] Or were you just kind of like putting all the money back into the business?
[00:34:32.600 --> 00:34:34.840] Yeah, I was taking some money out, right?
[00:34:34.840 --> 00:34:35.640] I took some distributions.
[00:34:35.640 --> 00:34:37.400] So I was an S-Corp back then.
[00:34:37.400 --> 00:34:40.920] And so I was paying myself a nominal salary to avoid payroll taxes.
[00:34:40.920 --> 00:34:44.360] So I would take distributions out, but not a ton, obviously.
[00:34:44.360 --> 00:34:48.120] I just took some out that were never going to jeopardize the growth of the business.
[00:34:48.360 --> 00:34:53.800] But that was like my first big, like watching a wire come through for $6 million was pretty cool.
[00:34:53.800 --> 00:35:00.520] When do you think it makes the most sense for founders to think about taking on private equity as a partner?
[00:35:00.520 --> 00:35:01.480] So, two things.
[00:35:01.480 --> 00:35:03.800] One, you have to be prepared to grow.
[00:35:04.200 --> 00:35:08.040] You will lose because private equity protects their investment, right?
[00:35:08.040 --> 00:35:10.280] So, they are looking for downside investment.
[00:35:10.280 --> 00:35:13.000] And I cannot tell you enough to get a good lawyer.
[00:35:13.000 --> 00:35:18.400] Like, I have two founders, female founders, that had, you know, again, was like, oh, they're too expensive.
[00:35:18.560 --> 00:35:22.720] And they end up hiring, you know, these lawyers for $300, $400 an hour.
[00:35:22.720 --> 00:35:27.680] My lawyer is $1,200 an hour, and he is worth every single penny, right?
[00:35:27.680 --> 00:35:34.080] Because when you do a bad deal with private equity, I just had a friend who recently sold in the fitness business, zero.
[00:35:34.080 --> 00:35:36.480] She got zero after eight years.
[00:35:36.480 --> 00:35:38.160] Actually, no, more than that.
[00:35:39.920 --> 00:35:40.800] Was it eight?
[00:35:40.800 --> 00:35:42.320] Maybe eight years, whatever.
[00:35:42.320 --> 00:35:48.640] Eight years, because the money she raised private equity with, the money was picking every single year and they didn't grow.
[00:35:48.640 --> 00:35:52.720] And so what was left over for them was like literally nothing.
[00:35:52.960 --> 00:35:55.440] So again, have a really great lawyer.
[00:35:55.440 --> 00:35:58.400] And now, oh, yeah, I was like, now I have a great question, but I remember.
[00:35:58.640 --> 00:36:00.800] So you should raise money again if you're ready to grow.
[00:36:00.800 --> 00:36:04.880] And two, you need to know that you're going to have to sell your company at some point.
[00:36:04.880 --> 00:36:08.480] You don't get private equity involved and think like, okay, I'm just not going to sell.
[00:36:08.480 --> 00:36:11.920] Like that's the only way private equity is going to make their money back.
[00:36:11.920 --> 00:36:22.480] So you need to make sure you have the right plan and that you're comfortable and you're building a succession plan at some point down the road to be excited to sell your company.
[00:36:26.960 --> 00:36:33.360] Founders are always asking us, what has been the secret to our success building multiple seven-figure businesses?
[00:36:33.360 --> 00:36:34.800] Do you want to know how?
[00:36:34.800 --> 00:36:36.480] It's our community.
[00:36:36.480 --> 00:36:44.080] We created the Entrepreneursa League for founders like you because the most successful entrepreneurs do not navigate business alone.
[00:36:44.080 --> 00:36:49.920] We navigate the challenges and opportunities with the support of people we know, love, and trust.
[00:36:49.920 --> 00:36:53.760] The relationships you build in business will be the key to your success.
[00:36:53.760 --> 00:36:55.920] Trust me, it's how we've done it.
[00:36:55.920 --> 00:37:01.560] And I'm giving you access to everything we've used to grow and scale our businesses over the past decade.
[00:36:59.680 --> 00:37:05.640] Plus, you're going to meet your new best friends in business right inside the community.
[00:37:05.960 --> 00:37:28.360] Our members have access to everything we've used to grow our businesses over the past 10 plus years: from in-person events to virtual events, business education, funding resources, office hours with myself and other top founders in your industry, press opportunities, and access to our community platform where you can instantly get all of your business questions answered.
[00:37:28.360 --> 00:37:34.760] You can join us in the community over at refer.entrepranista.com forward slash join us.
[00:37:35.080 --> 00:37:40.840] That's refer.entrepradista.com forward slash join us to join the community.
[00:37:40.840 --> 00:37:44.200] Or head to the show notes right now and tap the link to join.
[00:37:44.200 --> 00:37:46.280] I cannot wait to meet you.
[00:37:47.240 --> 00:37:52.600] What advice do you have for founders looking to build out their succession plan?
[00:37:52.600 --> 00:37:54.200] I know you mentioned that earlier, too.
[00:37:54.360 --> 00:38:00.200] It's like you should go in with a plan or at least some sort of vision on what you want the end to look like.
[00:38:00.200 --> 00:38:00.600] Right.
[00:38:00.600 --> 00:38:02.280] So for me, a couple of things.
[00:38:02.280 --> 00:38:09.480] I knew that I would never ever run or work at SolidCore if I wasn't controlling the company.
[00:38:09.720 --> 00:38:12.760] I was never going to work at the company that I started for somebody else.
[00:38:12.760 --> 00:38:15.880] And frankly, I felt that way because back on my feet was a little bit like that.
[00:38:15.880 --> 00:38:19.880] When you run, even though I started the nonprofit, nobody owns a nonprofit.
[00:38:19.880 --> 00:38:20.920] I didn't own it, right?
[00:38:21.560 --> 00:38:26.520] No one owns it, but there is a board of directors and they have the say, right?
[00:38:26.920 --> 00:38:29.480] You have to get votes for pretty much everything.
[00:38:29.480 --> 00:38:31.080] They determine my salary.
[00:38:31.080 --> 00:38:32.760] They could determine our growth.
[00:38:32.760 --> 00:38:37.320] And it was part of the reason when I was ready to lead back on my feet where I'm like, I'm not starting another nonprofit.
[00:38:37.320 --> 00:38:40.280] Like, I'm not asking permission from anybody.
[00:38:40.840 --> 00:38:43.080] I move quickly and I trust myself.
[00:38:43.080 --> 00:38:46.640] So, I'm going to build a for-profit where I own 100% of this thing.
[00:38:44.840 --> 00:38:51.680] And so, when I took money along the way, I always kept private equity at bay, meaning the minority partners.
[00:38:52.000 --> 00:39:00.400] And even when I only owned 30% of the business when I sold, but I kept the controlling interest, meaning I had the control of the board.
[00:39:00.640 --> 00:39:06.320] Now, listen, there are minority rights that private equity will ask for, which is why you need to have a good lawyer.
[00:39:06.560 --> 00:39:11.440] But I got to say when I sold, and I got to say when we sold and for how much.
[00:39:11.840 --> 00:39:15.200] And they couldn't do anything, anything about that.
[00:39:15.200 --> 00:39:20.080] I did have a preferred return on the capital that the private equity put in.
[00:39:20.080 --> 00:39:24.400] So, as long as I met those thresholds, I could do what I want.
[00:39:25.040 --> 00:39:32.000] But that was really important to me: that my ending was going to be on my terms, and that I was going to decide when I was ready to do that.
[00:39:32.000 --> 00:39:48.800] So, if I wasn't going to get stuck at Solid Core, because this is what will happen to you 100%, if you don't succession plan and private equity comes to your business and said, This is amazing, we want to buy it, and you're like, Awesome, and you are the CEO and you are heavily involved in your business, you're going with that transaction.
[00:39:48.800 --> 00:39:58.000] And they're going to say, Okay, Ann, you know, here's what we'll value your company at, you know, but you got to come with for the next three years and ensure that the business hits these markers.
[00:39:58.000 --> 00:40:03.600] And if it doesn't, we're not going to pay you as much because you've made the business so dependent on you.
[00:40:03.600 --> 00:40:12.480] And the best thing you can do as a founder to ensure you get paid on the day of a transaction is make sure that you're building a company that works without you.
[00:40:12.480 --> 00:40:14.880] And those are the kinds of founders that I'm impressed by.
[00:40:14.880 --> 00:40:19.040] I'm not impressed by founders who build a company that doesn't work without them.
[00:40:19.040 --> 00:40:26.960] Like, you didn't do your job as a founder, and that's like hard to hear for folks because you have to let go, you need to delegate.
[00:40:26.960 --> 00:40:40.600] Do you know how awesome it is to sit here and know that Solid Core, you know, is thriving and it's thriving in large part because of the systems and processes and people that I put in place over the 10 years that I was there.
[00:40:40.600 --> 00:40:45.240] Elkaton is one of the biggest private equity firms in the world.
[00:40:45.240 --> 00:40:50.280] And like the fact that they are now the majority owners of that business, that wouldn't have happened, right?
[00:40:50.280 --> 00:40:56.200] If my ego was driving the bus and I was making decisions that were all about me.
[00:40:56.200 --> 00:40:57.880] So that's a really important thing.
[00:40:57.880 --> 00:40:59.800] And I'm super, super proud of that.
[00:40:59.800 --> 00:41:01.960] And I also got to have my exit.
[00:41:01.960 --> 00:41:03.240] I got to tell my team.
[00:41:03.240 --> 00:41:05.080] I got to celebrate.
[00:41:05.640 --> 00:41:09.560] I gave millions of dollars to my employees for helping us get to that point.
[00:41:09.560 --> 00:41:12.920] And I had to, I like had a very happy, joyous day.
[00:41:12.920 --> 00:41:15.080] And when I was done, I was done.
[00:41:15.080 --> 00:41:20.680] And I got to move on, you know, seamlessly to the next chapter of my life.
[00:41:20.680 --> 00:41:29.320] And you risk a lot of resentment and negativity with someone else controlling your company.
[00:41:29.320 --> 00:41:31.240] I mean, for goodness sakes, guys, we're founders, right?
[00:41:31.240 --> 00:41:33.400] We don't want to work for anybody else.
[00:41:33.400 --> 00:41:38.760] So you got to constantly be putting people, processes, infrastructures.
[00:41:38.760 --> 00:41:40.760] You need to pull out of the meetings.
[00:41:40.760 --> 00:41:44.920] You need to ask yourself every six months if you're still involved in certain tasks.
[00:41:44.920 --> 00:41:53.720] That means either you're doing a bad job of leading or you're not hiring the right talent that you trust to execute on bigger decisions in the business.
[00:41:54.040 --> 00:41:59.320] When did you know it was finally time to actually exit and sell?
[00:41:59.960 --> 00:42:04.920] I knew, I mean, listen, I was ready before COVID, to be honest, because I felt like I had done my job.
[00:42:04.920 --> 00:42:10.840] So, my job, again, as both of the things that I did, is how involved am I in the business?
[00:42:10.840 --> 00:42:12.840] And it was becoming less and less.
[00:42:12.840 --> 00:42:15.680] And like, I am a true serial entrepreneur.
[00:42:15.680 --> 00:42:17.200] I love the risk.
[00:42:17.200 --> 00:42:18.880] I love the creation.
[00:42:14.920 --> 00:42:21.040] I love the figuring everything out.
[00:42:21.360 --> 00:42:31.360] And to be honest, like, when you have 100 locations, or even when we had 80 or 90, the formula was done, you know, and it was like, sure, we can increase same-store sales.
[00:42:31.360 --> 00:42:34.160] You know, we could, you know, open more locations.
[00:42:34.160 --> 00:42:38.640] But all of the risk and the brand and the execution was figured out.
[00:42:38.640 --> 00:42:41.600] It was just like, keep doing what we're doing.
[00:42:41.840 --> 00:42:43.360] And that's just not fun for me.
[00:42:43.360 --> 00:42:51.920] Like, I'm not, I actually feel like I can be a decent, I can be a decent operator if I have an excellent operator underneath me, which I did.
[00:42:51.920 --> 00:42:54.560] And Brian Myers, who's now the CEO.
[00:42:54.560 --> 00:43:03.040] And usually it's the person who's a tremendous operator who makes a very good second phase CEO for the business.
[00:43:03.040 --> 00:43:06.320] You know, like I'm more of a visionary than Brian is.
[00:43:06.320 --> 00:43:07.840] I think he would say that too.
[00:43:07.840 --> 00:43:10.960] And he's a better, much better operator than I am.
[00:43:10.960 --> 00:43:27.440] So because the vision of the company was set, was built, was solidified, it's like, hey, just go continue to execute and do what you do on operations to make the numbers better, to, you know, add in additional things that you think make sense at that point.
[00:43:27.440 --> 00:43:30.560] But the risk was all, the risk was all over.
[00:43:30.880 --> 00:43:33.440] I mean, that, and you don't get private equity, right?
[00:43:33.440 --> 00:43:40.400] El Catterton is not going to buy a business if they're not sure that like this thing has permeated the market.
[00:43:40.400 --> 00:43:46.400] Like private equity, you guys are the most least risk bunch of people that I have ever met.
[00:43:46.400 --> 00:43:47.240] They hate risk.
[00:43:47.240 --> 00:43:48.560] And you think, like, oh, they love risk.
[00:43:48.560 --> 00:43:49.920] They're investing in startups.
[00:43:49.920 --> 00:43:51.200] No, they hate that.
[00:43:51.440 --> 00:43:55.600] They want to look for every possible reason, again, to protect their downside.
[00:43:55.600 --> 00:44:00.920] And there's nobody going to come in and buy a majority business if, like, the thing hasn't been proven out.
[00:43:59.840 --> 00:44:05.480] And they feel that the chances of losing their money are like 0.000001%.
[00:44:07.560 --> 00:44:11.000] Do you think you'll want to build another big business again?
[00:44:11.000 --> 00:44:11.960] Or what's next for you?
[00:44:12.040 --> 00:44:12.920] Oh, my God.
[00:44:12.920 --> 00:44:15.400] Like, I smile at that because I've obviously been asked that.
[00:44:15.400 --> 00:44:17.080] And I think I know too much.
[00:44:17.080 --> 00:44:23.320] Like, I think about like, I'm like, sometimes I'm like, how in the world did I do that so fast?
[00:44:23.560 --> 00:44:25.800] And then I like remember my personality and who I am.
[00:44:25.800 --> 00:44:30.360] And then I'm like, yeah, it makes, it makes sense because when I get in something, like, I'm really into it.
[00:44:30.360 --> 00:44:33.160] But I do think, Court, like, I know too much.
[00:44:33.160 --> 00:44:39.720] I, there's something to be said about naivete and not knowing everything that's in front of you.
[00:44:39.720 --> 00:44:50.280] I think, you know, I know my talents as an entrepreneur and I only get excited about things that personally impact my life or that are really authentic to who I am.
[00:44:50.280 --> 00:44:55.560] Authenticity is one of my really big values in my life personally and professionally.
[00:44:55.560 --> 00:45:06.280] So I could never build a business that I wasn't obsessed about the product or if I wasn't using it on a consistent basis and I felt like the world needs this so bad.
[00:45:06.280 --> 00:45:14.440] So if I come across that again or I feel like I can solve a problem in a way that nobody else is solving, yeah, potentially.
[00:45:14.440 --> 00:45:21.640] But, you know, I would also be lying if I didn't tell you my financial situation changes that for me a little bit.
[00:45:21.640 --> 00:45:24.680] Like I don't need any more money in my life.
[00:45:24.680 --> 00:45:28.920] Like, sure, you can chase it for the sake of chasing it, but I'm very smart with my money.
[00:45:28.920 --> 00:45:30.760] It's highly invested.
[00:45:30.760 --> 00:45:36.760] It now is highly diversified because that's I'm in wealth preservation mode, not wealth creation mode.
[00:45:36.760 --> 00:45:51.200] And it would take a lot for me to give up my flexibility and schedule right now of how much I play volleyball and work out and how much like we host people at this house all the time.
[00:45:51.520 --> 00:45:54.240] And I'm really, really, I'm really enjoying that.
[00:45:54.240 --> 00:46:06.800] And I feel like I'm in this stage in my life where I'm just like vomiting all of my lessons and I'm trying to empower as many people as possible so that they can win and they can have, you know, their time as the entrepreneur.
[00:46:07.040 --> 00:46:08.960] So I do a lot of podcasts like this.
[00:46:08.960 --> 00:46:16.240] So thank you guys for creating a platform that allows people like me to hopefully help and you know share my experiences with folks.
[00:46:16.240 --> 00:46:20.880] And then I do a good amount of public, you know, public speaking, which is a similar form to this.
[00:46:20.880 --> 00:46:22.000] That's super fun for me.
[00:46:22.000 --> 00:46:25.120] It still makes me nervous to get up on stage and I like that feeling.
[00:46:25.120 --> 00:46:26.960] It shows me I'm growing.
[00:46:27.280 --> 00:46:34.800] And to keep people captivated for 45 to 60 minutes on stage like is a challenge and I'm and I love that.
[00:46:34.800 --> 00:46:44.080] And then of course I'm doing some investings in startups of people, founders that I love that I think are making people's lives happier and healthier.
[00:46:44.080 --> 00:46:46.320] Well, it's so amazing all you've accomplished.
[00:46:46.320 --> 00:46:50.080] We have to invite you to come speak now at our Entrepreneurs to Founders weekend.
[00:46:50.080 --> 00:46:51.520] So we're planning our next big event.
[00:46:51.520 --> 00:46:56.240] It's going to be next April, April 30th to May 3rd of 2026.
[00:46:56.240 --> 00:46:57.040] And it's in Florida.
[00:46:57.040 --> 00:47:02.560] So you don't have to go too far from five minutes from my house and at the PGA resort.
[00:47:02.560 --> 00:47:03.760] Stephanie, we're the same.
[00:47:03.760 --> 00:47:05.040] We're the same.
[00:47:05.040 --> 00:47:06.000] It's like, exactly.
[00:47:06.000 --> 00:47:06.480] Where is it?
[00:47:06.480 --> 00:47:07.360] That's my first question.
[00:47:07.360 --> 00:47:07.920] Where is it?
[00:47:08.240 --> 00:47:08.800] Don't worry.
[00:47:08.800 --> 00:47:09.760] You don't have to get on a plane.
[00:47:09.760 --> 00:47:12.800] You don't have to get a plane to take the bright line or corny will drive you up.
[00:47:14.480 --> 00:47:16.640] Yes, no, we'd love to, we'd love to have you there.
[00:47:16.640 --> 00:47:17.200] All right.
[00:47:17.200 --> 00:47:19.760] So second to last question for you, Anne.
[00:47:19.760 --> 00:47:27.120] What is your biggest business secret that you have never shared with anyone before that you want to share with all of our incredible listeners?
[00:47:27.120 --> 00:47:29.920] Oh my God, my biggest, biggest, biggest secret.
[00:47:31.560 --> 00:47:42.840] I feel like I don't have a lot of secrets because, again, I try to, I'm an open book and I try all the time, but I will, you know, I will go back to what I said, which is.
[00:47:43.160 --> 00:47:52.040] One of the great lessons for you to do, if you are trying to grow and scale your business as the CEO, you need to write down how you're spending your time.
[00:47:52.040 --> 00:47:56.680] Then I want you to think back to a year ago and write down how you're spending your time.
[00:47:56.680 --> 00:48:03.800] And if those things are the same and you're like wondering why your business hasn't grown at the level you want to, like there you have your answer.
[00:48:03.800 --> 00:48:09.160] So if you really want to grow, I want you to check in every single quarter, write down how you're spending your time.
[00:48:09.160 --> 00:48:14.680] And then even next to it, what's the financial impact to how you're spending your time as it relates to the business?
[00:48:14.680 --> 00:48:27.000] I took that so seriously, even though I didn't have a boss, it was my job and my responsibility for my team to be spending my time because I was the highest paid person with the highest, with the most amount of equity in the business.
[00:48:27.000 --> 00:48:33.400] I better be making decisions that have huge financial upside for the business, right?
[00:48:33.400 --> 00:48:40.440] The coach's job was to coach a killer class and make sure their class is full and obviously, you know, up the food chain a little bit.
[00:48:40.680 --> 00:48:43.720] Everybody has to be asking, you know, what their impact is.
[00:48:43.720 --> 00:48:46.840] But when you don't have a boss, that's for you to figure out.
[00:48:46.840 --> 00:48:54.440] And I see so many people stay, like, again, I'll speak to the fitness because that's what my business was.
[00:48:54.440 --> 00:48:59.000] But they'll be like, oh, well, if I'm coaching, you know, I don't have to pay a coach to coach.
[00:48:59.080 --> 00:49:00.120] I'm saving the company money.
[00:49:00.120 --> 00:49:03.800] And I'm like, so you're telling me that your time is $100 an hour?
[00:49:03.800 --> 00:49:06.360] Like, that's the best you can do as a CEO.
[00:49:06.360 --> 00:49:11.240] And again, a lot of people don't like hearing that, but I'm like, you have to figure out how to elevate.
[00:49:11.240 --> 00:49:15.000] And if you can't, then you need to hire a CEO who can.
[00:49:15.760 --> 00:49:22.800] And a lot of times I think that founders play small because they don't want their team to think that they're better than them.
[00:49:22.800 --> 00:49:27.040] I mean, I remember posting this photo, Courtney, of me taking out the trash.
[00:49:27.040 --> 00:49:29.920] Like, I think we had like 30, 40 studios at the time.
[00:49:29.920 --> 00:49:31.200] And I thought the same thing.
[00:49:31.200 --> 00:49:36.160] I'm like, you know, I'm never too busy to take out the trash or like, you know, I'm so grounded.
[00:49:36.160 --> 00:49:39.120] And now I look back at that and I'm like, that was so stupid.
[00:49:39.120 --> 00:49:45.680] I was like, it was like performative almost, but I'm like, if the best use of my time is taking out the trash, like, are you kidding me?
[00:49:45.680 --> 00:49:48.720] I can't do, like, that's irresponsible for my team.
[00:49:48.880 --> 00:49:50.880] Like, that is playing small.
[00:49:50.880 --> 00:49:56.720] And I got to be playing big and say, I just made a $3 million decision that's going to benefit us to do XYZ.
[00:49:56.720 --> 00:49:58.960] And now we're going to open 10 more locations.
[00:49:58.960 --> 00:50:11.760] So anyway, that's the, it's not really a secret, but it's really telling to write that down and hold yourself accountable and get real honest with the value of where you're spending your time as it relates to the impact on the business.
[00:50:11.760 --> 00:50:13.360] No, that is so important.
[00:50:13.360 --> 00:50:14.480] And last question for you.
[00:50:14.480 --> 00:50:25.600] And I feel like we could literally chat for five hours right now about all the things and doubly want to have you come speak at Founders Weekend because you have so many incredible learning lessons to share and all the advice you just shared.
[00:50:25.760 --> 00:50:27.120] I know Courtney's nodding right now.
[00:50:27.120 --> 00:50:39.360] I feel like I've learned so much just from speaking to you and we've talked to thousands of founders over the years and you are just truly incredible with everything you've accomplished and what you're doing to pay it forward.
[00:50:39.360 --> 00:50:42.400] What does being an entrepreneur mean to you?
[00:50:43.040 --> 00:50:49.760] Oh, I think the problem entrepreneur, listen, I think it's being bold.
[00:50:49.760 --> 00:50:54.800] I think that we just need women to continue to be unapologetic.
[00:50:54.800 --> 00:51:04.200] One of my favorite quotes during my time as a founder when I was getting like flack and heat during COVID for like not, you know, like I just couldn't satisfy everybody.
[00:51:04.360 --> 00:51:09.000] That was like the peak of like, oh my God, everybody has an opinion on everything I'm doing.
[00:51:09.000 --> 00:51:16.040] And I remember just being like, I will not apologize for the expectations that you have of me that I never agreed to.
[00:51:16.040 --> 00:51:17.800] I have been very clear.
[00:51:17.800 --> 00:51:23.400] My job right now is to make sure that everybody working here has a company to come back to.
[00:51:23.400 --> 00:51:26.280] So every decision I make is in support of that.
[00:51:26.280 --> 00:51:28.760] If you don't like that, I don't really care.
[00:51:28.760 --> 00:51:39.000] That is my job as this company's CEO: to make sure this company survives this very unpredictable storm that we have no ideas how long it's going to last.
[00:51:39.000 --> 00:51:41.080] So thank you for your opinions.
[00:51:41.080 --> 00:51:45.240] And if that's not okay with you, then you don't have to be here.
[00:51:45.240 --> 00:51:52.840] But I just think it's like, I see so many women still try to please everybody all the time.
[00:51:52.840 --> 00:51:56.360] And we feel badly when someone gets their feelings hurt.
[00:51:56.360 --> 00:52:02.840] And I'm like, you just have to be clear about what your vision is and that you're making decisions in support of that vision.
[00:52:02.840 --> 00:52:06.520] Everybody doesn't have to agree with you, but you are telling them what you are doing.
[00:52:06.520 --> 00:52:11.000] And just because you get an answer that you don't like doesn't mean you didn't get an answer.
[00:52:11.000 --> 00:52:12.680] And you are incredible.
[00:52:12.680 --> 00:52:18.440] Thank you for spending this hour with us right now and sharing everything with our entrepreneurs.
[00:52:18.440 --> 00:52:23.480] Where can everyone stay connected to you, find you, follow you, share all of your links, handles, website.
[00:52:23.480 --> 00:52:26.360] We'll link out to everything in the show notes so everyone can go connect with you.
[00:52:26.360 --> 00:52:28.360] Yeah, I think the best ways is Instagram.
[00:52:28.360 --> 00:52:32.120] There's so many channels that you can be on, and I find it overwhelming.
[00:52:32.120 --> 00:52:35.960] So, like, I try to post a lot of content on Instagram.
[00:52:35.920 --> 00:52:42.840] Um, and if you can just Google my name in the podcast section, I've tried to do you know as many interviews as I can.
[00:52:42.880 --> 00:52:47.840] Um, so there's a few different types of podcasts depending on what you're looking for.
[00:52:47.840 --> 00:52:48.320] Amazing.
[00:52:48.320 --> 00:52:49.200] What is what's your handle?
[00:52:49.200 --> 00:52:50.400] So, we'll link out to everything.
[00:52:50.720 --> 00:52:52.400] My name and the perfect.
[00:52:52.400 --> 00:52:54.560] All right, everyone, go ahead to the show notes right now.
[00:52:54.560 --> 00:52:56.400] Go follow Ann, send her a DM.
[00:52:56.400 --> 00:52:58.960] Sure, you just listened to this episode.
[00:52:58.960 --> 00:53:00.640] And thank you again, Ann.
[00:53:00.640 --> 00:53:03.040] I'm Stephanie, and I'm Courtney.
[00:53:03.040 --> 00:53:06.240] And this is the best business meeting we've ever had.
[00:53:08.480 --> 00:53:09.760] Hi, Entrepreneurs.
[00:53:09.760 --> 00:53:17.920] It's Steph here, and I hope today's episode has left you feeling inspired and with some actionable tips that you can apply to your own business.
[00:53:17.920 --> 00:53:25.280] The way we've grown our community and resources is by sharing content like this for years and asking for help along the way.
[00:53:25.280 --> 00:53:30.800] So, here's where we need your help so we can continue to make as much impact as possible together.
[00:53:30.800 --> 00:53:47.840] If you can leave us a five-star review and extra credit if you share this episode on Instagram, LinkedIn, or DM it to a founder friend who would benefit from hearing it, not only would it mean the world to us, but you sharing this episode is going to help someone who just may need to hear what we share today.
[00:53:47.840 --> 00:53:50.880] And you know, I love nothing more than giveaways and prizes.
[00:53:50.880 --> 00:53:57.600] So, every month I'll be giving away a one-on-one session with me to someone who has shared the episode and left a review.
[00:53:57.600 --> 00:54:00.480] So, send me a personal DM over on Instagram.
[00:54:00.480 --> 00:54:02.960] I'm at Steph Jill Carton.
[00:54:02.960 --> 00:54:05.360] Once you've done it, so you can be entered to win.
[00:54:05.360 --> 00:54:11.120] Wishing you a productive week ahead and stay tuned for another impactful episode next week.

Prompt 2: Key Takeaways

Now please extract the key takeaways from the transcript content I provided.

Extract the most important key takeaways from this part of the conversation. Use a single sentence statement (the key takeaway) rather than milquetoast descriptions like "the hosts discuss...". 

Limit the key takeaways to a maximum of 3. The key takeaways should be insightful and knowledge-additive. 

IMPORTANT: Return ONLY valid JSON, no explanations or markdown. Ensure:
- All strings are properly quoted and escaped
- No trailing commas
- All braces and brackets are balanced
Format: {"key_takeaways": ["takeaway 1", "takeaway 2"]}

Prompt 3: Segments

Now identify 2-4 distinct topical segments from this part of the conversation.

For each segment, identify:
- Descriptive title (3-6 words)  
- START timestamp when this topic begins (HH:MM:SS format)
- Double check that the timestamp is accurate - a timestamp will NEVER be greater than the total length of the audio
- Most important Key takeaway from that segment. Key takeaway must be specific and knowledge-additive.
- Brief summary of the discussion

IMPORTANT: The timestamp should mark when the topic/segment STARTS, not a range. Look for topic transitions and conversation shifts.

Return ONLY valid JSON. Ensure all strings are properly quoted, no trailing commas:
{
  "segments": [
    {
      "segment_title": "Topic Discussion", 
      "timestamp": "01:15:30",
      "key_takeaway": "main point from this segment",
      "segment_summary": "brief description of what was discussed"
    }
  ]
}

Timestamp format: HH:MM:SS (e.g., 00:05:30, 01:22:45) marking the START of each segment.

Prompt 4: Media Mentions

Now scan the transcript content I provided for ACTUAL mentions of specific media titles:

Find explicit mentions of:
- Books (with specific titles)
- Movies (with specific titles)  
- TV Shows (with specific titles)
- Music/Songs (with specific titles)

DO NOT include:
- Websites, URLs, or web services
- Other podcasts or podcast names

IMPORTANT: 
- Only include items explicitly mentioned by name. Do not invent titles.
- Valid categories are: "Book", "Movie", "TV Show", "Music"
- Include the exact phrase where each item was mentioned
- Find the nearest proximate timestamp where it appears in the conversation
- THE TIMESTAMP OF THE MEDIA MENTION IS IMPORTANT - DO NOT INVENT TIMESTAMPS AND DO NOT MISATTRIBUTE TIMESTAMPS
- Double check that the timestamp is accurate - a timestamp will NEVER be greater than the total length of the audio
- Timestamps are given as ranges, e.g. 01:13:42.520 --> 01:13:46.720. Use the EARLIER of the 2 timestamps in the range.

Return ONLY valid JSON. Ensure all strings are properly quoted and escaped, no trailing commas:
{
  "media_mentions": [
    {
      "title": "Exact Title as Mentioned",
      "category": "Book",
      "author_artist": "N/A",
      "context": "Brief context of why it was mentioned",
      "context_phrase": "The exact sentence or phrase where it was mentioned",
      "timestamp": "estimated time like 01:15:30"
    }
  ]
}

If no media is mentioned, return: {"media_mentions": []}

Full Transcript

[00:00:00.880 --> 00:00:05.680] Hey, Entrepreneurs, it's Steph here with a special invite just for you.
[00:00:05.680 --> 00:00:10.800] Do you want to experience what it's like to be part of our Entrepreneursa League community of founders?
[00:00:10.800 --> 00:00:12.400] Now is your chance.
[00:00:12.400 --> 00:00:21.360] You can join me this month at one of our upcoming Entrepreneursa League info sessions where I'm going to share with you all you're going to get access to when you join the community.
[00:00:21.360 --> 00:00:27.040] Plus, I'll be giving away some big bonuses that you will only be able to get access to when you attend live.
[00:00:27.040 --> 00:00:35.600] Head over to refer.entrepreneesa.com forward slash info session to join us at one of our virtual info sessions this month.
[00:00:35.600 --> 00:00:40.640] That's refer.entrepranista.com forward slash info session.
[00:00:40.640 --> 00:00:44.560] Or head over to the show notes right now and tap the link to join us.
[00:00:44.560 --> 00:00:49.200] I can't wait to meet you there and learn more about you and your business.
[00:00:49.840 --> 00:00:56.000] I created this event from scratch, put it on, and I also effed up the financial piece of that.
[00:00:56.000 --> 00:01:01.840] Like I was so focused on execution that I was like 50 grand over budget and it was like terrifying for me.
[00:01:01.840 --> 00:01:11.040] I almost got fired from my job, but I loved every second of the idea of like I created this thing from nothing and then it happened.
[00:01:11.040 --> 00:01:18.880] And that was like my first taste of I feel like I can be a really good entrepreneur if I figure out the financial piece of this stuff.
[00:01:26.160 --> 00:01:33.520] Many of us dream of making a difference, but what if you could build a thriving business while also creating social impact?
[00:01:33.520 --> 00:01:41.840] Ann Mollum is the founder behind SolidCore, a high-intensity, low-impact, full-body workout on a Pilates-inspired reformer.
[00:01:41.840 --> 00:01:46.320] Get ready because what Ann's about to share will transform your approach to entrepreneurship.
[00:01:46.320 --> 00:01:54.160] You'll hear all about the steps she took to transform the fitness industry and the valuable lessons she learned selling her business.
[00:01:54.160 --> 00:01:56.960] But Anne's success story, it doesn't end with SolidCore.
[00:01:56.960 --> 00:02:02.360] She's also the founder of Back on My Feet, a nonprofit that has changed thousands of lives.
[00:02:02.360 --> 00:02:06.680] Plus, she's a sought-after speaker, podcast host, and philanthropist.
[00:02:06.680 --> 00:02:14.520] Get ready to hear Ann's game-changing strategies for building a business empire and her biggest business secrets.
[00:02:17.720 --> 00:02:21.160] This is the Entrepreneurship Podcast presented by Social Fly.
[00:02:21.160 --> 00:02:31.880] It's the best business meeting you'll ever have with must-hear real-life looks at how leading women in business are getting it done and what it takes to build and grow a successful company.
[00:02:31.880 --> 00:02:37.880] It's beyond the Graham with no filters, no limits, and plenty of surprises.
[00:02:45.160 --> 00:02:48.360] Ann, we are so happy to have you here.
[00:02:48.360 --> 00:02:53.880] I have been following your entrepreneur journey actually ever since I heard you on a podcast.
[00:02:53.880 --> 00:02:56.440] And I'm just so fascinated by your story.
[00:02:56.440 --> 00:03:02.040] And I know we got to meet in person a few, I think it was like a few months ago at this point.
[00:03:02.280 --> 00:03:03.960] So happy to have you here.
[00:03:03.960 --> 00:03:05.000] Yeah, thanks for having me.
[00:03:05.000 --> 00:03:05.560] Hi, Seth.
[00:03:05.560 --> 00:03:06.760] Hi, Courtney.
[00:03:06.760 --> 00:03:08.040] So thrilled you're here, Anne.
[00:03:08.200 --> 00:03:13.160] Did you always know, Anne, when you were growing up that you wanted to start a business one day?
[00:03:13.160 --> 00:03:24.360] I didn't know it was going to be a business, but I did always know, or at least I felt very confident that I was quote unquote supposed to be somebody, whatever that meant.
[00:03:24.360 --> 00:03:27.720] And I knew, like, looking around, I grew up in North Dakota.
[00:03:27.720 --> 00:03:38.440] So I just remember being very curious about why everybody lived their life the way that I saw them living, and that there had to be another way to do this.
[00:03:38.440 --> 00:03:42.920] I saw, you know, a lot of homogeneous behavior.
[00:03:42.920 --> 00:03:44.960] Everybody was working Monday through Friday.
[00:03:44.960 --> 00:03:48.720] They would come home, frantically be running errands.
[00:03:44.680 --> 00:03:51.520] You know, my mom throwing laundry in, getting food ready.
[00:03:51.760 --> 00:03:53.440] We have to go to activities.
[00:03:53.440 --> 00:03:57.120] And it just felt like everybody was exhausted and checking boxes.
[00:03:57.120 --> 00:04:01.040] And then the weekends were for bigger errands and bigger chores.
[00:04:01.040 --> 00:04:04.560] And I just was like, I just think that there's a different way to live life.
[00:04:04.560 --> 00:04:15.360] So the curiosity of that really, I think, pulled me away from North Dakota and put me into situations where I was just trying new things and seeing what stuck.
[00:04:15.680 --> 00:04:18.560] How did you eventually get into Solid Core?
[00:04:18.560 --> 00:04:26.640] And I know there's quite the journey for you to get there, but what you've built with Solid Core and how you've exited Solid Core is so, so incredible.
[00:04:26.640 --> 00:04:29.040] So walk us through that path.
[00:04:29.040 --> 00:04:29.680] Oh my gosh.
[00:04:29.680 --> 00:04:31.120] Yeah, where do I start?
[00:04:31.120 --> 00:04:33.840] Because it feels like it's like the most recent chapter.
[00:04:33.840 --> 00:04:41.360] But my first taste with entrepreneurship was when I was working at this nonprofit and it was called the Committee of 70.
[00:04:41.360 --> 00:04:44.640] It was a political watchdog organization for the city of Philadelphia.
[00:04:44.640 --> 00:04:50.080] And I was in charge of like marketing and community director and community engagement, I guess.
[00:04:50.080 --> 00:04:53.120] And I wanted to put on a 5K.
[00:04:53.120 --> 00:04:54.560] I was a big runner back then.
[00:04:54.560 --> 00:04:59.200] And I'm like, we are in Philadelphia, the birthplace of American democracy.
[00:04:59.200 --> 00:05:07.920] And I had this idea to put on a 5K around election time called The Dash for Democracy with the tagline, Give Your Voice Legs.
[00:05:07.920 --> 00:05:14.160] So the whole theme was like, show up for whatever candidate you're supporting or cause you believe in.
[00:05:14.160 --> 00:05:16.560] And we would like run through the streets of Philadelphia.
[00:05:16.560 --> 00:05:24.560] And I created this event from scratch, put it on, and I also effed up the financial piece of that.
[00:05:24.560 --> 00:05:28.880] Like, I was so focused on execution that I was like 50 grand over budget.
[00:05:28.880 --> 00:05:30.840] And it was like terrifying for me.
[00:05:29.920 --> 00:05:33.640] I almost got fired from my job.
[00:05:33.960 --> 00:05:40.920] Um, but I loved every second of the idea of like I created this thing from nothing, and then it happened.
[00:05:41.240 --> 00:05:49.240] And that was like my first taste of I feel like I can be a really good entrepreneur if I figure out the financial piece of this stuff.
[00:05:49.240 --> 00:06:00.600] Um, so then I started my own nonprofit, which is called Back on My Feet, which is just running as a vehicle to help people who are living in homeless shelters change their identities so that we can actually change their life.
[00:06:00.920 --> 00:06:03.000] And then I did that for six and a half years.
[00:06:03.000 --> 00:06:06.920] Big story behind that, lots of lessons in that.
[00:06:06.920 --> 00:06:14.760] And then, when it became time for me to do something else, because I felt it, I knew, like, okay, I'm ready to move on.
[00:06:15.080 --> 00:06:20.520] I was in Los Angeles for Back on My Feet, opening up the chapter there.
[00:06:20.520 --> 00:06:23.480] And I walked by a Pilates studio.
[00:06:23.480 --> 00:06:31.000] And as somebody who considers herself a pretty legit athlete, that Pilates studio felt very cute and very LA.
[00:06:31.240 --> 00:06:34.440] And I'm like, I'm going to go do this little workout if I'm in LA.
[00:06:34.440 --> 00:06:35.640] And it was so hard.
[00:06:36.440 --> 00:06:38.520] I didn't know you could work out like that.
[00:06:38.520 --> 00:06:43.720] I didn't know that you could move your body so slowly and have it be so challenging.
[00:06:43.720 --> 00:06:48.120] And the next day, I was sore everywhere.
[00:06:48.120 --> 00:06:58.360] And I immediately thought, if I don't know about this, that means the majority of other people, particularly women, have no idea that you can work out this way.
[00:06:58.360 --> 00:07:02.760] And so I started taking Pilates back in New York, where I was at the time.
[00:07:02.760 --> 00:07:04.920] And my body started to transform.
[00:07:04.920 --> 00:07:18.480] I mean, I was like every other woman in the world doing cardio like it was my job and not really seeing like my body never looked the way that I felt like it should look based off of how much time and energy I put into working out.
[00:07:18.480 --> 00:07:26.800] And once Pilates happened, I started to, you know, see some muscle definition and tone and again, all the right areas.
[00:07:26.800 --> 00:07:38.000] So I felt really excited that I knew how to take my skill sets, which are building a high-quality branded experience, apply it to Pilates, and build a really big brand about it.
[00:07:38.000 --> 00:07:40.240] So I moved back to DC.
[00:07:40.240 --> 00:07:43.600] I took everything I had, which was 175K.
[00:07:43.600 --> 00:07:48.320] I mean, listen, there's a lot of emotions that I had to work through to get up the guts to do this.
[00:07:48.320 --> 00:07:50.160] And I had my own fair share of doubts.
[00:07:50.160 --> 00:07:55.920] It wasn't just like, you know, didn't have to work through any of these limiting beliefs that all of us have.
[00:07:55.920 --> 00:08:08.400] But yeah, I put in all my money to open the first studio and fortunately was in the situation where everybody had the same experience I did, which was, what was that?
[00:08:09.040 --> 00:08:14.880] And the whole city of DC kind of fell in love with this workout and Solid Core.
[00:08:14.880 --> 00:08:20.480] And I opened, I don't know, I think it was five or six within the first 12 months.
[00:08:20.480 --> 00:08:20.880] Wow.
[00:08:20.880 --> 00:08:30.480] And we just like solidified ourselves as like the player, obviously in DC, but that like, oh, we're going to grow this thing across the country.
[00:08:30.480 --> 00:08:32.480] That is truly incredible.
[00:08:32.480 --> 00:08:41.120] And I can't even imagine like the physical aspect of not just the workout, but opening up five locations over the course of one year.
[00:08:41.120 --> 00:08:46.480] Like that just sounds like wild that you were able to do that so quickly in such a short amount of time.
[00:08:46.480 --> 00:08:55.840] And I want to go back to something you said when you were just sharing your story about initially starting that nonprofit, because you said there were lots of learning lessons from that experience.
[00:08:55.840 --> 00:09:00.000] Can you share some of those learning lessons before we then get into everything you built with Solid Core?
[00:09:00.440 --> 00:09:04.280] And did you take any of those learning lessons with you into Solid Core?
[00:09:04.600 --> 00:09:05.000] Yes.
[00:09:05.000 --> 00:09:08.520] I mean, people ask that a lot, like, what's the difference between nonprofit and for-profit?
[00:09:08.520 --> 00:09:14.760] And when you're starting anything, your mindset has to be right, you know, and it's like all about execution.
[00:09:14.760 --> 00:09:22.680] So with back on my feet, you know, in the beginning, and what stops most entrepreneurs is fear and doubt and failure, right?
[00:09:22.680 --> 00:09:25.000] The biggest thing is, what if it doesn't work out?
[00:09:25.000 --> 00:09:26.440] And what if it fails?
[00:09:26.440 --> 00:09:31.640] And most people, that thought alone like gets them to be like, okay, I'm not going to do it.
[00:09:31.640 --> 00:09:38.200] We actually convince ourselves we're being smart because we go through all these diabolical situations in our head.
[00:09:38.200 --> 00:09:42.840] And then we think, oh my God, it'd be so stupid to even to even think I could do that.
[00:09:43.480 --> 00:09:59.960] And so when I discovered that like running was actually a tool that was going to change the way that these individuals saw themselves, meaning we had to work on their whole self-worth, their self-value, their self-confidence, self-respect.
[00:09:59.960 --> 00:10:02.840] These guys had a very low sense of self and self-esteem.
[00:10:02.840 --> 00:10:10.840] How are they possibly going to move out of a homeless shelter and get a job and a home if they don't like, love, or respect themselves?
[00:10:10.840 --> 00:10:18.680] And so what we did was created a community that allowed them to be celebrated, to be appreciated, valued, and seen.
[00:10:18.680 --> 00:10:23.560] And they kept showing up because just like them and all of us, that's what we're all looking for.
[00:10:23.560 --> 00:10:25.080] We seek out those environments.
[00:10:25.080 --> 00:10:36.360] We seek out relationships, jobs, you name it, where we are filled with those types of emotions and feelings because everybody wants to be appreciated and valued for what they're doing.
[00:10:36.360 --> 00:10:40.440] And so when I saw that, I'm like, God, there's really something here.
[00:10:40.400 --> 00:10:46.560] There, this is so much more than just, you know, us running and helping kind of an hour a day.
[00:10:46.560 --> 00:10:48.640] And this is what I'm supposed to do with my life.
[00:10:48.640 --> 00:11:00.400] Like, I'm going to build this into a fully fledged nonprofit where I'm going to build job partnerships and employment training and housing partnerships, you know, but we've got to start with the self.
[00:11:00.400 --> 00:11:03.120] And everybody thought I was absolutely like insane.
[00:11:03.120 --> 00:11:04.320] They thought it was admirable.
[00:11:04.320 --> 00:11:08.880] They thought it was like, this is really nice and sweet that you want to help so badly, Anne.
[00:11:08.880 --> 00:11:11.760] But like, come on, like, these guys are homeless.
[00:11:11.760 --> 00:11:12.560] They're going to quit.
[00:11:12.560 --> 00:11:14.800] What happens when it gets winter in Philly?
[00:11:14.800 --> 00:11:18.800] You know, like, they just thought I was very polyanna.
[00:11:19.920 --> 00:11:22.800] But I saw something that nobody else saw.
[00:11:22.800 --> 00:11:27.520] And I think I felt it in myself of knowing the environments that I thrived in.
[00:11:27.520 --> 00:11:29.200] And my dad's also an addict, right?
[00:11:29.200 --> 00:11:31.600] So I know you can't force anybody to change.
[00:11:31.600 --> 00:11:37.200] And how people change is by giving them the opportunity and the environment to be successful.
[00:11:37.200 --> 00:11:38.720] And that's what we were doing.
[00:11:38.720 --> 00:11:42.320] And these guys, again, were showing up and they wanted to be there.
[00:11:42.320 --> 00:11:46.480] So they were taking this action on a day-to-day basis.
[00:11:46.480 --> 00:11:55.920] So the biggest first lesson I learned with Back on My Feet was that it's up to me to be the kind of leader that helps people realize that they are capable of excellence.
[00:11:55.920 --> 00:11:59.120] And I'm going to create an environment that's going to bring it out of them.
[00:11:59.120 --> 00:12:01.040] And that's stuff that you can apply.
[00:12:01.040 --> 00:12:09.680] Like if you are an entrepreneur and a manager and a leader, rewind what I just said because I hear so many people talk about, oh my God, I just can't find good people.
[00:12:09.680 --> 00:12:11.120] I can't find the right talent, whatever.
[00:12:11.120 --> 00:12:15.680] And I'm like, you know, that's sort of pushing the responsibility on everybody else.
[00:12:15.680 --> 00:12:18.960] But if you can say, okay, do I have work to do as a leader?
[00:12:18.960 --> 00:12:20.320] What type of leader am I?
[00:12:20.320 --> 00:12:22.320] Can I be doing a better job?
[00:12:22.320 --> 00:12:26.320] Am I creating the kind of culture where people get to be successful?
[00:12:26.320 --> 00:12:27.520] Do they like being here?
[00:12:27.520 --> 00:12:34.680] And that sometimes takes some really hard feedback from people who've worked with you and to ask, hey, what do I bring out the best in you?
[00:12:34.680 --> 00:12:35.000] Right?
[00:12:35.000 --> 00:12:40.200] Like, I always compare so much to personal relationships because we all have experience in that.
[00:12:40.200 --> 00:12:44.200] And it's my job as my husband's wife to bring out the best in him.
[00:12:44.200 --> 00:12:46.920] And it's his job as my husband to bring out the best in me.
[00:12:46.920 --> 00:12:51.400] The relationships that don't make it, usually the partner makes you feel like crap, right?
[00:12:51.400 --> 00:12:56.200] Or you find yourself just like, you know, not being a better version of who you are.
[00:12:56.200 --> 00:13:04.360] And so I was like, wow, this is my responsibility to be that kind of, you know, leader for these individuals.
[00:13:04.360 --> 00:13:07.320] And I carried that through, you know, through Solid Core.
[00:13:07.320 --> 00:13:12.280] And also with Back on My Feet stuff, it was like execution, execution, execution.
[00:13:12.280 --> 00:13:16.600] We get stopped in our tracks a lot because we don't know how to do something.
[00:13:16.920 --> 00:13:26.440] And I also reminded myself that anything that is created, somebody had to come up with the idea and decide to have a day one.
[00:13:26.760 --> 00:13:39.240] And as long as you know, like what the first step is, the information you're going to get by executing step one is going to lead you to what you need to do for step two.
[00:13:39.240 --> 00:13:47.320] But too often, people try to plan out step one, two, three, four, five, six, seven, eight, and then they get to step eight and they're like, well, I don't, I don't know how to do that.
[00:13:47.320 --> 00:13:49.800] Or like, that just seems so blah, blah, blah.
[00:13:49.800 --> 00:13:52.520] And you're getting way too ahead of your skis.
[00:13:52.520 --> 00:13:56.360] So, for example, I remember this guy asking me when I was running back on my feet.
[00:13:56.360 --> 00:14:00.600] He's like, Ann, I really, really want to help, you know, underprivileged kids learn music.
[00:14:00.600 --> 00:14:06.040] And I'm like, then go find an underprivileged child and go teach him music.
[00:14:06.040 --> 00:14:07.800] That is your first step.
[00:14:07.800 --> 00:14:09.720] Everybody overcomplicates it.
[00:14:09.720 --> 00:14:13.160] You know, it's no different with Solid Core, Courtney, of like what's similar.
[00:14:13.480 --> 00:14:23.280] There's no way I could have built an empire if I didn't execute really well on the first studio to create the demand for the second studio.
[00:14:23.280 --> 00:14:32.720] And like I just kind of continued to focus on the quality and then using that momentum of the quality to get the, you know, second, third, fourth, fifth location open.
[00:14:32.720 --> 00:14:39.440] And I can talk, you know, a little bit about some strategies I use with landlords and cash flow if that would be interesting to you guys too.
[00:14:39.440 --> 00:14:50.240] But that's, it's, it's usually the limiting beliefs and the fear of failure that stops people versus you know, kind of tangible, actionable items, if that makes sense.
[00:14:50.240 --> 00:14:56.560] Did you always have this mindset or did you, um, did you learn it along the way?
[00:14:56.560 --> 00:15:05.600] And is there, do you ever still have any doubts or are you always, you know, super, super confident because that's how you come across.
[00:15:05.600 --> 00:15:17.360] And I think it's incredible and really important, especially for all of the women listening is you can do it if you have changed your mindset, but it's, it can be hard for some to like get over that doubt.
[00:15:17.360 --> 00:15:17.680] Yeah.
[00:15:17.680 --> 00:15:22.560] So listen, I think you can do anything if you want it bad enough.
[00:15:22.560 --> 00:15:25.600] And obviously the operative words there are bad enough.
[00:15:25.600 --> 00:15:28.560] There's a lot of people say they want to be fit, right?
[00:15:28.560 --> 00:15:32.320] And they want to, you know, look a certain way or they want to be able to run a marathon.
[00:15:32.320 --> 00:15:39.040] But wanting it bad enough means you're going to the gym every day and you're saying no to a lot of whatever foods or whatever.
[00:15:39.120 --> 00:15:45.200] You're getting up and training on Saturday morning when it's raining outside and it's not optimal weather.
[00:15:45.200 --> 00:15:51.840] You know, so I always challenge people because entrepreneurship is a ton of work and commitment.
[00:15:51.840 --> 00:16:02.200] And if what you're doing isn't something that you care so deeply about, which for me, back on my feet and solid core, and people ask a lot, like, Ann, you must have had to sacrifice so much.
[00:15:59.840 --> 00:16:05.880] And I think they're shocked to hear me say, I didn't sacrifice anything.
[00:16:06.200 --> 00:16:11.400] I was in alignment with who I was and what I wanted to create and build.
[00:16:11.400 --> 00:16:15.800] It was like what I was supposed to be doing, and I loved every second of it.
[00:16:15.800 --> 00:16:29.240] If you feel like you're sacrificing so much of other things you'd rather be doing, you're going to quit and you're going to look for reasons to quit because you're not in alignment with your vision of what you want to be doing with your time.
[00:16:29.240 --> 00:16:30.920] So I think that that's really important.
[00:16:30.920 --> 00:16:44.520] So the other thing is, when my parents separated when I was 16, when my dad's addictions came to the surface, you know, I can remember even back then thinking about, hmm, it's pretty easy to be a victim to all this, right?
[00:16:44.520 --> 00:16:45.960] Like I got to easy out here.
[00:16:45.960 --> 00:16:47.080] My dad's an addict.
[00:16:47.080 --> 00:16:48.600] My parents are divorced.
[00:16:48.600 --> 00:16:49.560] I could act out.
[00:16:49.560 --> 00:16:52.040] I could start behaving poorly.
[00:16:52.040 --> 00:16:58.600] But at the end of the day, if I do that, the only person who loses is me, you know?
[00:16:58.600 --> 00:17:06.200] So I'm not oblivious to the fact that a lot of people don't have confidence and a lot of people are afraid to try.
[00:17:06.520 --> 00:17:14.760] And I have such a leg up on people because I refuse to talk to myself in a disempowering way.
[00:17:14.840 --> 00:17:20.440] Doesn't mean I know all the answers and don't make mistakes, but I refuse to not empower myself.
[00:17:20.440 --> 00:17:24.040] And I have won the game, you know, twice in entrepreneurship.
[00:17:24.040 --> 00:17:32.040] And I think I won it with my husband because I'm willing to put myself out there and see what I'm capable of.
[00:17:32.040 --> 00:17:37.080] And I trust myself to be resourceful enough to figure out the problem.
[00:17:37.080 --> 00:17:42.280] If I don't have the answer, it's my job to figure out what the answer is and who can, you know, who can help.
[00:17:42.280 --> 00:17:50.000] But I just think I had way more to lose, Courtney, if I chose to not be confident than if I chose to be confident.
[00:17:50.640 --> 00:17:53.200] I'm so glad you just shared this story.
[00:17:53.200 --> 00:18:00.720] And I think it's so relatable and helpful for people to hear because building a business, as you shared, you know, when you started SolidCore, you had to, you were scared.
[00:18:00.720 --> 00:18:04.720] You had to take your own personal funding and bet on yourself.
[00:18:04.720 --> 00:18:09.760] And as I always say, just get started, just start building this business and see what happens.
[00:18:09.760 --> 00:18:13.360] But you, you know, surrounded yourself with community and people to help you.
[00:18:13.360 --> 00:18:22.560] It's one of the reasons why we started our Entrepreneurs de League community because we can all do so much more together when we champion each other, when we help each other, when we ask for help.
[00:18:22.560 --> 00:18:25.600] And nowadays, like no one has to go into business alone.
[00:18:25.600 --> 00:18:28.000] There's so much support and opportunity out there.
[00:18:28.320 --> 00:18:31.120] That's like why we started this podcast, why we have this community.
[00:18:31.120 --> 00:18:33.600] Like we can all share these stories and help.
[00:18:33.600 --> 00:18:38.480] And you just have to have that like gusto to like jump in and do it and take it one step at a time.
[00:18:38.480 --> 00:18:41.280] We can all figure everything out along the way when we help each other.
[00:18:41.280 --> 00:18:41.920] Well, yeah.
[00:18:41.920 --> 00:18:44.480] And, you know, again, I'm really interested in statistics.
[00:18:44.480 --> 00:18:48.800] And 76% of people at the end of their life have regret.
[00:18:48.800 --> 00:18:50.640] I mean, that's a big chunk of people, right?
[00:18:50.640 --> 00:19:02.000] That's if we have our producer on here, Travis, three out of four of us, statistically speaking, would have regret, not because of what we did or what we said, but because of what we didn't do.
[00:19:02.000 --> 00:19:10.720] And that to me is so stressful to be like, oh my God, I never had a courage practice or a fear practice.
[00:19:10.720 --> 00:19:17.200] I never worked hard enough to get the courage to really play big in life and try to hit the home run.
[00:19:17.200 --> 00:19:19.520] Like, that's just heartbreaking to me.
[00:19:19.520 --> 00:19:29.960] So, I just, you know, like you just, it's like working to get over the fear, do whatever you have to do to get over the fear of rejection and failure.
[00:19:29.440 --> 00:19:35.320] And I also think hedging your bets as an entrepreneur is the worst thing you can do.
[00:19:35.880 --> 00:19:46.440] I remember, I mean, this is also such an important lesson, and I've talked about this before, but I had an offer for $75,000 for 30% stake in Solid Core before I even opened my first studio.
[00:19:46.440 --> 00:20:00.200] It was somebody who watched, he was on the board of Back on My Feet, and it was like, wow, Ann grew this thing across the country, 12 markets in four years, and, you know, got a bunch of people to pay attention, pay attention to people who are homeless, which is difficult to do.
[00:20:00.200 --> 00:20:01.560] And so he was like, I'll give you that.
[00:20:01.560 --> 00:20:03.000] And I'm like, oh, gosh, that's a lot of money.
[00:20:03.000 --> 00:20:03.800] Maybe I should take it.
[00:20:03.800 --> 00:20:09.400] That's like so smart for me to, you know, just put $75,000 of my own money aside.
[00:20:09.400 --> 00:20:11.320] And if this thing doesn't go well.
[00:20:11.320 --> 00:20:19.000] And if you're smart enough to catch that kind of talk, and it was like, wait a minute, now I'm already talking about this thing not working.
[00:20:19.000 --> 00:20:27.160] I'm already saying out loud, if this doesn't work, like I can't have any of that as I'm ready to go all in and open this studio.
[00:20:27.160 --> 00:20:35.720] So because I had enough money to do it on my own, if I would have taken that guy's money in my mind, I was like, then I shouldn't do this at all.
[00:20:35.720 --> 00:20:40.520] All I'm saying is I actually don't trust myself and believe that I'm capable of doing this.
[00:20:40.520 --> 00:20:44.680] And taking his money is only going to reaffirm that thought.
[00:20:44.680 --> 00:20:46.200] And I'm dead in the water.
[00:20:46.200 --> 00:20:47.640] So I'm like, I can't take this.
[00:20:47.640 --> 00:20:48.760] I got to go all in.
[00:20:48.760 --> 00:20:52.360] And I need to be forced to figure it out when this gets hard.
[00:20:52.360 --> 00:20:58.360] And guys, in the first year, I got evicted from my first location and I got sued twice.
[00:20:58.360 --> 00:21:04.840] Now, if I had an estate, I don't know if I would have been ready to fight and like figure that out.
[00:21:04.840 --> 00:21:07.640] I might have been like, oh my God, I screwed up here.
[00:21:07.800 --> 00:21:09.080] You know, this is too hard.
[00:21:09.080 --> 00:21:13.960] And at least I have $75,000 of my own money over here.
[00:21:13.960 --> 00:21:18.640] And I'm not going to, you know, grow solid core or this is too scary and too hard.
[00:21:18.640 --> 00:21:19.840] Really, really great advice.
[00:21:19.840 --> 00:21:23.760] And I love that mindset of just going all in.
[00:21:23.760 --> 00:21:27.440] I feel like I'm guilty sometimes of hedging my bets.
[00:21:27.440 --> 00:21:32.560] And this, you know, is a really great personal reminder for me.
[00:21:32.560 --> 00:21:41.680] Coming up, Anne shares her biggest secrets for building a business to sell and how you can create a plan for yourself to ensure long-term success.
[00:21:48.000 --> 00:21:49.280] Hi, Entrepreneurs.
[00:21:49.280 --> 00:21:50.320] It's Steph here.
[00:21:50.320 --> 00:21:56.960] As a founder, I know firsthand that building a business can feel so lonely, but it doesn't have to.
[00:21:56.960 --> 00:22:01.600] And that's why we created our Entrepreneursa Founders Weekend Wealth and Wellness Retreat.
[00:22:01.600 --> 00:22:03.760] And I can't wait to meet you in person there.
[00:22:03.760 --> 00:22:17.920] So you're officially invited to join us from April 30th to May 3rd, 2026 at the stunning PGA National Resort in Palm Beach Gardens, Florida for three transformative days of connection, collaboration, and real business growth.
[00:22:17.920 --> 00:22:20.080] This isn't just another business conference.
[00:22:20.080 --> 00:22:28.480] It is a curated retreat designed to help you build authentic, lasting relationships with women who truly understand your journey.
[00:22:28.480 --> 00:22:35.280] From business panels and workshops to wellness activations and so much more, this is the room that you need to be in.
[00:22:35.280 --> 00:22:46.800] So if you are ready to invest in yourself and your business and your vision and your next level of success, head over to entrepreneurs.com forward slash foundersweekend to reserve your ticket today.
[00:22:46.800 --> 00:22:55.040] That's entrepreneursa.com forward slash foundersweekend or head over to the show notes right now and tap the invitation to reserve your ticket.
[00:22:55.040 --> 00:22:56.240] I'll see you there.
[00:23:06.520 --> 00:23:08.840] You mentioned going after the home run.
[00:23:08.840 --> 00:23:12.680] You've hit a few home runs now with SolidCore.
[00:23:12.680 --> 00:23:17.480] I would love to hear your tips on scaling and also working with private equity.
[00:23:17.480 --> 00:23:20.200] I think you sold two or three times to private equity.
[00:23:20.200 --> 00:23:22.760] Would love to understand that process as well.
[00:23:22.760 --> 00:23:25.240] Yeah, so I'm happy to talk about that.
[00:23:25.240 --> 00:23:32.040] So the tips with scaling and you have to figure out, you know, your own business and ask yourself the question of one, this is what I did.
[00:23:32.040 --> 00:23:33.240] What's my end game?
[00:23:33.240 --> 00:23:33.640] Right.
[00:23:33.640 --> 00:23:43.480] I knew from a very early start, like literally within the first, I think I wrote it down on the first night I opened that I'm going to open a hundred of these and I'm going to sell this company.
[00:23:43.480 --> 00:23:56.520] And so you might not have that vision from the very, very beginning, but I always encourage founders to get very clear and very specific on what winning looks like and what the Super Bowl looks like and what you're driving toward.
[00:23:56.520 --> 00:24:01.320] Because once you do that, Courtney, your decision making actually becomes simplified.
[00:24:01.320 --> 00:24:04.200] You know, if you're like, I don't know, I just want to build it.
[00:24:04.200 --> 00:24:06.600] Well, when opportunities come, right?
[00:24:06.600 --> 00:24:10.120] So franchising Solid Core, it was like, not happening.
[00:24:10.120 --> 00:24:15.240] You know, like someone wanted to buy Solid Core, you know, when I had 25 locations and I was like, not happening.
[00:24:15.240 --> 00:24:18.840] Like that's not, you know, I'm going to get this thing to 100.
[00:24:18.840 --> 00:24:20.520] That's my goal and my vision.
[00:24:20.520 --> 00:24:21.960] You know, COVID happened, right?
[00:24:21.960 --> 00:24:24.520] People were pivoting to digital marketing, whatever.
[00:24:24.520 --> 00:24:26.200] And I'm like, that's not our plan.
[00:24:26.200 --> 00:24:29.720] And we are better than anybody else at scaling brick and mortar.
[00:24:29.720 --> 00:24:33.240] And I believe in my heart of hearts that in-person fitness is coming back.
[00:24:33.240 --> 00:24:39.240] I think all of the news around, you know, the gym is dead, you know, at-home fitness, no one will ever go to a gym again.
[00:24:39.240 --> 00:24:40.520] I'm like, these people are crazy.
[00:24:40.520 --> 00:24:44.440] This is what the media does with their fear-mongering and their bullshit articles.
[00:24:44.440 --> 00:24:49.600] And there's nobody remember 9-11 when all the media said that no one was going to fly again?
[00:24:49.600 --> 00:24:56.640] And I think people are on planes, you know, so like we just doubled down on what our mission and vision was.
[00:24:56.960 --> 00:24:58.720] And that's really, really important.
[00:24:58.720 --> 00:25:05.920] The second one to scaling is asking yourself what's standing in your way from scaling at the level that you need to.
[00:25:05.920 --> 00:25:12.640] Because let's face it, for brick and mortar, there's a lot of places that open one or two or three and they go so slow.
[00:25:12.640 --> 00:25:14.720] And I'm like, you're never going to get there.
[00:25:14.720 --> 00:25:18.240] And you can't actually attract funding or private equity.
[00:25:18.240 --> 00:25:26.640] Like I would never invest in a, if someone came to me that's been around for five years and they have six locations, I'd be like, no, you guys are not the right operators and you're not the right people.
[00:25:26.640 --> 00:25:34.160] If you couldn't figure out how to scale faster than that, you're too scared and you can't be scared as a CEO or you don't have the right skill sets to do this.
[00:25:34.160 --> 00:25:41.440] And so what was getting in my way at Solid Core when I thought about real scalability was the landlords, right?
[00:25:41.440 --> 00:25:44.720] Like they wanted security deposits, like 30, 50 grand.
[00:25:44.720 --> 00:25:51.200] I'm like, I don't have that kind of cash flow to be giving every landlord or every location a security deposit.
[00:25:51.440 --> 00:25:55.280] They didn't want to give me a lot of tenant improvement dollars because I was a young company, right?
[00:25:55.280 --> 00:25:58.000] So they think, oh, you know, we don't know if this is going to work out.
[00:25:58.000 --> 00:26:04.080] We would rather have a CBS or a tenant that's, you know, high grade quality tenant, which I understand.
[00:26:04.640 --> 00:26:06.880] And then the third one was rent debatement, you know?
[00:26:06.880 --> 00:26:12.240] So I made it a point to meet face to face with the landlords because I had to get them to like me.
[00:26:12.240 --> 00:26:15.960] I had to get them to trust me, and I had to get them to root for me.
[00:26:15.920 --> 00:26:22.480] And I also had to explain the deal that I could do and also ask them what's important to them.
[00:26:22.480 --> 00:26:22.720] Right.
[00:26:22.720 --> 00:26:34.200] And what I found was it was the overall 10-year term and the financial total financials of that deal more so than just the first six months.
[00:26:34.520 --> 00:26:46.840] So, you know, I actually, in some cases, ended up giving the landlord more in year seven, eight to actually make up for the request I was making in the beginning, which was I need six months abatement, right?
[00:26:46.840 --> 00:26:51.960] Because this is a very cashflow-heavy business, and I need the cash to then roll into the next studio.
[00:26:51.960 --> 00:26:59.320] Because trust me, the more I get open of these, it's better for me and it's better for you because I'm going to build a brand.
[00:26:59.320 --> 00:27:06.200] Um, and I need this, I need this company to be, you know, well-known and have a lot of locations for people to go to.
[00:27:06.200 --> 00:27:13.000] And the tenant improvement dollar is like, I, it's only me, I don't have a lot of cash, I don't have 400 grand to put into every location.
[00:27:13.000 --> 00:27:23.160] So, like, I need you to pay for that, and you can charge me for it in year six or seven or yet, or eight, but you have to help me out a little bit in the beginning if you want me to be around for 10 years.
[00:27:23.160 --> 00:27:28.120] And I'm really proud of the fact that, like, we only closed, I think, four.
[00:27:28.120 --> 00:27:32.680] I mean, there might have been now, but like four locations of Solid Core, and we did it in COVID.
[00:27:32.680 --> 00:27:35.240] We had the opportunity to close them, so we closed them.
[00:27:35.240 --> 00:27:44.680] But for the most part, out of you know, we had 80 locations by the time COVID hit, like, we only closed four in COVID, and they just weren't the right locations before COVID.
[00:27:44.680 --> 00:27:49.000] It wasn't that COVID did it, but um, so keeping that commitment to the landlord was really great.
[00:27:49.320 --> 00:27:50.920] And then, private, oh, sorry, go ahead.
[00:27:50.920 --> 00:27:55.400] I was gonna say the strategy that you just shared and how you negotiated with the landlord.
[00:27:55.400 --> 00:27:56.600] How did you come up with that?
[00:27:56.600 --> 00:27:58.760] Was that just a creative thing that you came up with?
[00:27:58.760 --> 00:28:03.560] Did you work with a coach or consultant to help share that type of strategy with you?
[00:28:03.560 --> 00:28:09.720] No, I mean, again, like some sometimes you don't know where this stuff comes from, but like it was out of necessity for me.
[00:28:09.720 --> 00:28:14.360] I knew, I knew I had the talent to scale because I did it at back of my feet.
[00:28:14.360 --> 00:28:16.880] I knew I knew what to do operationally.
[00:28:14.680 --> 00:28:19.520] And again, it was like, what's standing in my way is the cash.
[00:28:19.680 --> 00:28:23.520] And so I have to get the landlords, you know, on my side here to do that.
[00:28:23.520 --> 00:28:29.040] I mean, those build outs, right, were the most, the highest cost to the business at the time.
[00:28:29.040 --> 00:28:32.320] So I always felt too, this is another scaling lesson.
[00:28:32.320 --> 00:28:39.920] As the CEO and founder, it is my job to always look at and say, where's the most financial impact, whether it's revenue or cost.
[00:28:40.240 --> 00:28:41.680] And that's where I spend my time.
[00:28:41.680 --> 00:28:47.600] You know, so I, in the first studio, was coaching 20 classes, you know, a week at the first location.
[00:28:47.600 --> 00:28:55.040] It was actually the best use of my time to infiltrate and indoctrinate, you know, my personality in the culture, right?
[00:28:55.040 --> 00:29:03.920] But I could easily hire additional coaches who got to see how I operated, got to see how I interacted, you know, with the clients.
[00:29:03.920 --> 00:29:05.360] And then people would replicate that.
[00:29:05.360 --> 00:29:12.240] And we, you know, taught people, you know, what does it mean to be a coach at Solicor, the kind of culture and community that you have to execute.
[00:29:12.240 --> 00:29:13.280] So that was easy.
[00:29:13.280 --> 00:29:14.480] We started hiring coaches.
[00:29:14.480 --> 00:29:16.880] We actually started hiring them from our client base.
[00:29:16.880 --> 00:29:18.560] I coached less and less.
[00:29:18.560 --> 00:29:23.280] And my skill sets were a lot in vision, strategy, and negotiation.
[00:29:23.280 --> 00:29:28.160] So the landlords working with the general contractors on the build outs, right?
[00:29:28.160 --> 00:29:31.440] So instead of net 30 terms, I would ask for net 60 terms.
[00:29:31.440 --> 00:29:32.240] Why?
[00:29:32.240 --> 00:29:36.480] Because the studios only took about eight to 10 weeks to get open at that time.
[00:29:36.480 --> 00:29:43.200] So by the time the build out was done, I was already doing pre-sales and sales and I was getting, you know, 30, 40, 50K in the door.
[00:29:43.200 --> 00:29:45.360] So awesome, cool, I can pay the bill with that.
[00:29:45.360 --> 00:29:54.800] Like, I was just, you know, it was a real, like, you know, again, I was, I was pretty good with the cash flow and the money, but I was cutting it really close.
[00:29:54.800 --> 00:29:58.880] And I had to ask favors of folks to ask to give a little bit extra time.
[00:29:59.280 --> 00:30:01.080] But you have to ask those things.
[00:30:01.080 --> 00:30:03.400] And a lot of people think, like, oh, I can't ask that.
[00:29:59.520 --> 00:30:04.920] I'm like, you know, you can.
[00:30:04.920 --> 00:30:09.400] And I just did what I had to do to get multiple locations open.
[00:30:09.880 --> 00:30:14.280] Did you ever take out any loans or were you just really creative with payment terms?
[00:30:14.600 --> 00:30:15.400] Payment terms.
[00:30:15.400 --> 00:30:17.800] I took out zero loans at Solid Core.
[00:30:18.040 --> 00:30:19.640] Solid Core had zero debt.
[00:30:19.640 --> 00:30:24.600] I mean, I don't actually know if they even have debt now, but we never ever had debt on the business.
[00:30:24.920 --> 00:30:28.360] And then at what point did you get approached by private equity?
[00:30:28.360 --> 00:30:29.800] I approached them.
[00:30:30.360 --> 00:30:34.920] So, well, there was somebody who came along early that wanted to buy, you know, but I wasn't interested in that.
[00:30:34.920 --> 00:30:46.600] And that actually got me like, but I'm going to need to have to raise money here at some point because I'm opening, call it, I think, I think the most I got open on my own was six or seven in a year.
[00:30:47.000 --> 00:30:49.000] And again, it was cash restrictive, right?
[00:30:49.000 --> 00:30:55.000] And I knew I needed to level up my talent and I needed more cash to get more studios open because I was going to have to outlay a lot more.
[00:30:55.000 --> 00:31:02.440] So by the time I got to 25 locations, this was 2017, so four years into the business.
[00:31:02.920 --> 00:31:05.800] I'm like, if I'm going to get to 100, it's going to take me a long time.
[00:31:05.800 --> 00:31:13.320] Like, I know I can get 20 to 30 of these open in a year because it just becomes like an assembly line of what has to happen when.
[00:31:13.640 --> 00:31:15.880] And I just need more money.
[00:31:15.880 --> 00:31:21.880] So I got connected to my lawyer, Steven Seisser, over at Lowenstein, who's amazing.
[00:31:21.880 --> 00:31:24.440] I got connected to him through Soul Cycle Founders.
[00:31:24.440 --> 00:31:27.880] And Steve actually connected me to five private equity shops.
[00:31:27.880 --> 00:31:31.320] Like I sent him over all of our data room and our financials.
[00:31:31.640 --> 00:31:36.120] And that was our first, you know, growth round of capital that we took.
[00:31:36.360 --> 00:31:39.000] And I was very specific about what I wanted.
[00:31:39.000 --> 00:31:42.200] And I was going to take some money off the table at this point.
[00:31:42.440 --> 00:31:45.360] I also don't think it's admirable to be a starving founder.
[00:31:44.920 --> 00:31:47.600] And private equity will try to convince you of that.
[00:31:48.240 --> 00:31:53.360] And I had to tell, I took six million, as I said, so I had to tell who they're like, we don't want to give you $6 million, Anne.
[00:31:53.440 --> 00:31:54.640] Like, you know, we want you fully.
[00:31:54.720 --> 00:31:59.520] I'm like, guys, listen, I opened 25 of these in four years.
[00:32:00.080 --> 00:32:04.960] If you think I'm in this for $6 million, one, like, you're kidding yourself, and you shouldn't do this deal.
[00:32:04.960 --> 00:32:11.840] I'm giving you any of those vibes, but I don't want to be financially hungry, you know, even down the road.
[00:32:11.840 --> 00:32:15.360] $6 million aside was enough to be like, cool, great, I'm good.
[00:32:15.360 --> 00:32:17.360] Let's go grow the business.
[00:32:18.000 --> 00:32:23.360] And I also had a private equity partner that I'd gotten close to at this particular shop, and he was my big advocate.
[00:32:23.360 --> 00:32:27.440] And he was just like, guys, if one thing I have learned about Ann, she wants to win.
[00:32:27.440 --> 00:32:29.520] She is not in this for six whatever.
[00:32:29.520 --> 00:32:30.640] Like, she wants to win.
[00:32:30.640 --> 00:32:35.440] So I laid out a plan for them of what putting $12 million into the company looked like.
[00:32:35.440 --> 00:32:39.600] And that frankly would have gotten us to 100 locations if COVID didn't get in the way.
[00:32:39.600 --> 00:32:45.840] So we opened 50 additional locations in the next 28 months, which was awesome.
[00:32:45.840 --> 00:32:48.400] So like we did what we said we were going to do.
[00:32:48.400 --> 00:32:51.360] And then we, I was, I just hired a banker.
[00:32:51.360 --> 00:33:04.880] We were like all set because we were, we would have gotten to 100 locations by the end of 2020, but obviously COVID showed up and we had to pivot a lot from, you know, from revenue coming in the door.
[00:33:04.880 --> 00:33:08.960] You don't ever factor in like, oh, what's the business going to look like when you go to zero?
[00:33:09.360 --> 00:33:15.040] So it was, it was obviously a huge pivot, but I'm really grateful for what happened in COVID.
[00:33:15.040 --> 00:33:16.560] I know it caused a lot of tragedy for people.
[00:33:16.560 --> 00:33:23.760] So that aside, I really learned a lot about the kind of leader that I am and how tough I am and how strategic I am.
[00:33:23.760 --> 00:33:28.080] And I am really grateful for that experience and those lessons.
[00:33:28.080 --> 00:33:35.000] But yeah, we actually raised money again in 2021 because I wanted to get ahead of our competition.
[00:33:35.320 --> 00:33:41.560] And if you remember in COVID, I don't know where you guys were in COVID, but things were very different for red states and blue states.
[00:33:41.560 --> 00:33:50.920] And I was like, we are raising money and we are going to get open in red states because there's less restrictions there and our studios that we have in red states were killing it.
[00:33:50.920 --> 00:33:55.800] While places in New York, right, we were still having to be open, shut down, masks, no masks.
[00:33:55.800 --> 00:34:01.080] Like it was a yo-yo and it was very hard to continue to execute in those markets.
[00:34:01.080 --> 00:34:10.680] But yeah, we opened 11 new locations in 2021 while most people were like reopening their old studios or closing even some down.
[00:34:10.680 --> 00:34:14.200] So we played offense really, really hard.
[00:34:14.200 --> 00:34:21.960] And we came out of that as like being the premium boutique fitness brand and really creating a name for ourselves.
[00:34:21.960 --> 00:34:28.040] When you first sold to private or took on private equity dollars, were you making money along the way?
[00:34:28.040 --> 00:34:30.040] Or was that your first big payday?
[00:34:30.040 --> 00:34:32.600] Or were you just kind of like putting all the money back into the business?
[00:34:32.600 --> 00:34:34.840] Yeah, I was taking some money out, right?
[00:34:34.840 --> 00:34:35.640] I took some distributions.
[00:34:35.640 --> 00:34:37.400] So I was an S-Corp back then.
[00:34:37.400 --> 00:34:40.920] And so I was paying myself a nominal salary to avoid payroll taxes.
[00:34:40.920 --> 00:34:44.360] So I would take distributions out, but not a ton, obviously.
[00:34:44.360 --> 00:34:48.120] I just took some out that were never going to jeopardize the growth of the business.
[00:34:48.360 --> 00:34:53.800] But that was like my first big, like watching a wire come through for $6 million was pretty cool.
[00:34:53.800 --> 00:35:00.520] When do you think it makes the most sense for founders to think about taking on private equity as a partner?
[00:35:00.520 --> 00:35:01.480] So, two things.
[00:35:01.480 --> 00:35:03.800] One, you have to be prepared to grow.
[00:35:04.200 --> 00:35:08.040] You will lose because private equity protects their investment, right?
[00:35:08.040 --> 00:35:10.280] So, they are looking for downside investment.
[00:35:10.280 --> 00:35:13.000] And I cannot tell you enough to get a good lawyer.
[00:35:13.000 --> 00:35:18.400] Like, I have two founders, female founders, that had, you know, again, was like, oh, they're too expensive.
[00:35:18.560 --> 00:35:22.720] And they end up hiring, you know, these lawyers for $300, $400 an hour.
[00:35:22.720 --> 00:35:27.680] My lawyer is $1,200 an hour, and he is worth every single penny, right?
[00:35:27.680 --> 00:35:34.080] Because when you do a bad deal with private equity, I just had a friend who recently sold in the fitness business, zero.
[00:35:34.080 --> 00:35:36.480] She got zero after eight years.
[00:35:36.480 --> 00:35:38.160] Actually, no, more than that.
[00:35:39.920 --> 00:35:40.800] Was it eight?
[00:35:40.800 --> 00:35:42.320] Maybe eight years, whatever.
[00:35:42.320 --> 00:35:48.640] Eight years, because the money she raised private equity with, the money was picking every single year and they didn't grow.
[00:35:48.640 --> 00:35:52.720] And so what was left over for them was like literally nothing.
[00:35:52.960 --> 00:35:55.440] So again, have a really great lawyer.
[00:35:55.440 --> 00:35:58.400] And now, oh, yeah, I was like, now I have a great question, but I remember.
[00:35:58.640 --> 00:36:00.800] So you should raise money again if you're ready to grow.
[00:36:00.800 --> 00:36:04.880] And two, you need to know that you're going to have to sell your company at some point.
[00:36:04.880 --> 00:36:08.480] You don't get private equity involved and think like, okay, I'm just not going to sell.
[00:36:08.480 --> 00:36:11.920] Like that's the only way private equity is going to make their money back.
[00:36:11.920 --> 00:36:22.480] So you need to make sure you have the right plan and that you're comfortable and you're building a succession plan at some point down the road to be excited to sell your company.
[00:36:26.960 --> 00:36:33.360] Founders are always asking us, what has been the secret to our success building multiple seven-figure businesses?
[00:36:33.360 --> 00:36:34.800] Do you want to know how?
[00:36:34.800 --> 00:36:36.480] It's our community.
[00:36:36.480 --> 00:36:44.080] We created the Entrepreneursa League for founders like you because the most successful entrepreneurs do not navigate business alone.
[00:36:44.080 --> 00:36:49.920] We navigate the challenges and opportunities with the support of people we know, love, and trust.
[00:36:49.920 --> 00:36:53.760] The relationships you build in business will be the key to your success.
[00:36:53.760 --> 00:36:55.920] Trust me, it's how we've done it.
[00:36:55.920 --> 00:37:01.560] And I'm giving you access to everything we've used to grow and scale our businesses over the past decade.
[00:36:59.680 --> 00:37:05.640] Plus, you're going to meet your new best friends in business right inside the community.
[00:37:05.960 --> 00:37:28.360] Our members have access to everything we've used to grow our businesses over the past 10 plus years: from in-person events to virtual events, business education, funding resources, office hours with myself and other top founders in your industry, press opportunities, and access to our community platform where you can instantly get all of your business questions answered.
[00:37:28.360 --> 00:37:34.760] You can join us in the community over at refer.entrepranista.com forward slash join us.
[00:37:35.080 --> 00:37:40.840] That's refer.entrepradista.com forward slash join us to join the community.
[00:37:40.840 --> 00:37:44.200] Or head to the show notes right now and tap the link to join.
[00:37:44.200 --> 00:37:46.280] I cannot wait to meet you.
[00:37:47.240 --> 00:37:52.600] What advice do you have for founders looking to build out their succession plan?
[00:37:52.600 --> 00:37:54.200] I know you mentioned that earlier, too.
[00:37:54.360 --> 00:38:00.200] It's like you should go in with a plan or at least some sort of vision on what you want the end to look like.
[00:38:00.200 --> 00:38:00.600] Right.
[00:38:00.600 --> 00:38:02.280] So for me, a couple of things.
[00:38:02.280 --> 00:38:09.480] I knew that I would never ever run or work at SolidCore if I wasn't controlling the company.
[00:38:09.720 --> 00:38:12.760] I was never going to work at the company that I started for somebody else.
[00:38:12.760 --> 00:38:15.880] And frankly, I felt that way because back on my feet was a little bit like that.
[00:38:15.880 --> 00:38:19.880] When you run, even though I started the nonprofit, nobody owns a nonprofit.
[00:38:19.880 --> 00:38:20.920] I didn't own it, right?
[00:38:21.560 --> 00:38:26.520] No one owns it, but there is a board of directors and they have the say, right?
[00:38:26.920 --> 00:38:29.480] You have to get votes for pretty much everything.
[00:38:29.480 --> 00:38:31.080] They determine my salary.
[00:38:31.080 --> 00:38:32.760] They could determine our growth.
[00:38:32.760 --> 00:38:37.320] And it was part of the reason when I was ready to lead back on my feet where I'm like, I'm not starting another nonprofit.
[00:38:37.320 --> 00:38:40.280] Like, I'm not asking permission from anybody.
[00:38:40.840 --> 00:38:43.080] I move quickly and I trust myself.
[00:38:43.080 --> 00:38:46.640] So, I'm going to build a for-profit where I own 100% of this thing.
[00:38:44.840 --> 00:38:51.680] And so, when I took money along the way, I always kept private equity at bay, meaning the minority partners.
[00:38:52.000 --> 00:39:00.400] And even when I only owned 30% of the business when I sold, but I kept the controlling interest, meaning I had the control of the board.
[00:39:00.640 --> 00:39:06.320] Now, listen, there are minority rights that private equity will ask for, which is why you need to have a good lawyer.
[00:39:06.560 --> 00:39:11.440] But I got to say when I sold, and I got to say when we sold and for how much.
[00:39:11.840 --> 00:39:15.200] And they couldn't do anything, anything about that.
[00:39:15.200 --> 00:39:20.080] I did have a preferred return on the capital that the private equity put in.
[00:39:20.080 --> 00:39:24.400] So, as long as I met those thresholds, I could do what I want.
[00:39:25.040 --> 00:39:32.000] But that was really important to me: that my ending was going to be on my terms, and that I was going to decide when I was ready to do that.
[00:39:32.000 --> 00:39:48.800] So, if I wasn't going to get stuck at Solid Core, because this is what will happen to you 100%, if you don't succession plan and private equity comes to your business and said, This is amazing, we want to buy it, and you're like, Awesome, and you are the CEO and you are heavily involved in your business, you're going with that transaction.
[00:39:48.800 --> 00:39:58.000] And they're going to say, Okay, Ann, you know, here's what we'll value your company at, you know, but you got to come with for the next three years and ensure that the business hits these markers.
[00:39:58.000 --> 00:40:03.600] And if it doesn't, we're not going to pay you as much because you've made the business so dependent on you.
[00:40:03.600 --> 00:40:12.480] And the best thing you can do as a founder to ensure you get paid on the day of a transaction is make sure that you're building a company that works without you.
[00:40:12.480 --> 00:40:14.880] And those are the kinds of founders that I'm impressed by.
[00:40:14.880 --> 00:40:19.040] I'm not impressed by founders who build a company that doesn't work without them.
[00:40:19.040 --> 00:40:26.960] Like, you didn't do your job as a founder, and that's like hard to hear for folks because you have to let go, you need to delegate.
[00:40:26.960 --> 00:40:40.600] Do you know how awesome it is to sit here and know that Solid Core, you know, is thriving and it's thriving in large part because of the systems and processes and people that I put in place over the 10 years that I was there.
[00:40:40.600 --> 00:40:45.240] Elkaton is one of the biggest private equity firms in the world.
[00:40:45.240 --> 00:40:50.280] And like the fact that they are now the majority owners of that business, that wouldn't have happened, right?
[00:40:50.280 --> 00:40:56.200] If my ego was driving the bus and I was making decisions that were all about me.
[00:40:56.200 --> 00:40:57.880] So that's a really important thing.
[00:40:57.880 --> 00:40:59.800] And I'm super, super proud of that.
[00:40:59.800 --> 00:41:01.960] And I also got to have my exit.
[00:41:01.960 --> 00:41:03.240] I got to tell my team.
[00:41:03.240 --> 00:41:05.080] I got to celebrate.
[00:41:05.640 --> 00:41:09.560] I gave millions of dollars to my employees for helping us get to that point.
[00:41:09.560 --> 00:41:12.920] And I had to, I like had a very happy, joyous day.
[00:41:12.920 --> 00:41:15.080] And when I was done, I was done.
[00:41:15.080 --> 00:41:20.680] And I got to move on, you know, seamlessly to the next chapter of my life.
[00:41:20.680 --> 00:41:29.320] And you risk a lot of resentment and negativity with someone else controlling your company.
[00:41:29.320 --> 00:41:31.240] I mean, for goodness sakes, guys, we're founders, right?
[00:41:31.240 --> 00:41:33.400] We don't want to work for anybody else.
[00:41:33.400 --> 00:41:38.760] So you got to constantly be putting people, processes, infrastructures.
[00:41:38.760 --> 00:41:40.760] You need to pull out of the meetings.
[00:41:40.760 --> 00:41:44.920] You need to ask yourself every six months if you're still involved in certain tasks.
[00:41:44.920 --> 00:41:53.720] That means either you're doing a bad job of leading or you're not hiring the right talent that you trust to execute on bigger decisions in the business.
[00:41:54.040 --> 00:41:59.320] When did you know it was finally time to actually exit and sell?
[00:41:59.960 --> 00:42:04.920] I knew, I mean, listen, I was ready before COVID, to be honest, because I felt like I had done my job.
[00:42:04.920 --> 00:42:10.840] So, my job, again, as both of the things that I did, is how involved am I in the business?
[00:42:10.840 --> 00:42:12.840] And it was becoming less and less.
[00:42:12.840 --> 00:42:15.680] And like, I am a true serial entrepreneur.
[00:42:15.680 --> 00:42:17.200] I love the risk.
[00:42:17.200 --> 00:42:18.880] I love the creation.
[00:42:14.920 --> 00:42:21.040] I love the figuring everything out.
[00:42:21.360 --> 00:42:31.360] And to be honest, like, when you have 100 locations, or even when we had 80 or 90, the formula was done, you know, and it was like, sure, we can increase same-store sales.
[00:42:31.360 --> 00:42:34.160] You know, we could, you know, open more locations.
[00:42:34.160 --> 00:42:38.640] But all of the risk and the brand and the execution was figured out.
[00:42:38.640 --> 00:42:41.600] It was just like, keep doing what we're doing.
[00:42:41.840 --> 00:42:43.360] And that's just not fun for me.
[00:42:43.360 --> 00:42:51.920] Like, I'm not, I actually feel like I can be a decent, I can be a decent operator if I have an excellent operator underneath me, which I did.
[00:42:51.920 --> 00:42:54.560] And Brian Myers, who's now the CEO.
[00:42:54.560 --> 00:43:03.040] And usually it's the person who's a tremendous operator who makes a very good second phase CEO for the business.
[00:43:03.040 --> 00:43:06.320] You know, like I'm more of a visionary than Brian is.
[00:43:06.320 --> 00:43:07.840] I think he would say that too.
[00:43:07.840 --> 00:43:10.960] And he's a better, much better operator than I am.
[00:43:10.960 --> 00:43:27.440] So because the vision of the company was set, was built, was solidified, it's like, hey, just go continue to execute and do what you do on operations to make the numbers better, to, you know, add in additional things that you think make sense at that point.
[00:43:27.440 --> 00:43:30.560] But the risk was all, the risk was all over.
[00:43:30.880 --> 00:43:33.440] I mean, that, and you don't get private equity, right?
[00:43:33.440 --> 00:43:40.400] El Catterton is not going to buy a business if they're not sure that like this thing has permeated the market.
[00:43:40.400 --> 00:43:46.400] Like private equity, you guys are the most least risk bunch of people that I have ever met.
[00:43:46.400 --> 00:43:47.240] They hate risk.
[00:43:47.240 --> 00:43:48.560] And you think, like, oh, they love risk.
[00:43:48.560 --> 00:43:49.920] They're investing in startups.
[00:43:49.920 --> 00:43:51.200] No, they hate that.
[00:43:51.440 --> 00:43:55.600] They want to look for every possible reason, again, to protect their downside.
[00:43:55.600 --> 00:44:00.920] And there's nobody going to come in and buy a majority business if, like, the thing hasn't been proven out.
[00:43:59.840 --> 00:44:05.480] And they feel that the chances of losing their money are like 0.000001%.
[00:44:07.560 --> 00:44:11.000] Do you think you'll want to build another big business again?
[00:44:11.000 --> 00:44:11.960] Or what's next for you?
[00:44:12.040 --> 00:44:12.920] Oh, my God.
[00:44:12.920 --> 00:44:15.400] Like, I smile at that because I've obviously been asked that.
[00:44:15.400 --> 00:44:17.080] And I think I know too much.
[00:44:17.080 --> 00:44:23.320] Like, I think about like, I'm like, sometimes I'm like, how in the world did I do that so fast?
[00:44:23.560 --> 00:44:25.800] And then I like remember my personality and who I am.
[00:44:25.800 --> 00:44:30.360] And then I'm like, yeah, it makes, it makes sense because when I get in something, like, I'm really into it.
[00:44:30.360 --> 00:44:33.160] But I do think, Court, like, I know too much.
[00:44:33.160 --> 00:44:39.720] I, there's something to be said about naivete and not knowing everything that's in front of you.
[00:44:39.720 --> 00:44:50.280] I think, you know, I know my talents as an entrepreneur and I only get excited about things that personally impact my life or that are really authentic to who I am.
[00:44:50.280 --> 00:44:55.560] Authenticity is one of my really big values in my life personally and professionally.
[00:44:55.560 --> 00:45:06.280] So I could never build a business that I wasn't obsessed about the product or if I wasn't using it on a consistent basis and I felt like the world needs this so bad.
[00:45:06.280 --> 00:45:14.440] So if I come across that again or I feel like I can solve a problem in a way that nobody else is solving, yeah, potentially.
[00:45:14.440 --> 00:45:21.640] But, you know, I would also be lying if I didn't tell you my financial situation changes that for me a little bit.
[00:45:21.640 --> 00:45:24.680] Like I don't need any more money in my life.
[00:45:24.680 --> 00:45:28.920] Like, sure, you can chase it for the sake of chasing it, but I'm very smart with my money.
[00:45:28.920 --> 00:45:30.760] It's highly invested.
[00:45:30.760 --> 00:45:36.760] It now is highly diversified because that's I'm in wealth preservation mode, not wealth creation mode.
[00:45:36.760 --> 00:45:51.200] And it would take a lot for me to give up my flexibility and schedule right now of how much I play volleyball and work out and how much like we host people at this house all the time.
[00:45:51.520 --> 00:45:54.240] And I'm really, really, I'm really enjoying that.
[00:45:54.240 --> 00:46:06.800] And I feel like I'm in this stage in my life where I'm just like vomiting all of my lessons and I'm trying to empower as many people as possible so that they can win and they can have, you know, their time as the entrepreneur.
[00:46:07.040 --> 00:46:08.960] So I do a lot of podcasts like this.
[00:46:08.960 --> 00:46:16.240] So thank you guys for creating a platform that allows people like me to hopefully help and you know share my experiences with folks.
[00:46:16.240 --> 00:46:20.880] And then I do a good amount of public, you know, public speaking, which is a similar form to this.
[00:46:20.880 --> 00:46:22.000] That's super fun for me.
[00:46:22.000 --> 00:46:25.120] It still makes me nervous to get up on stage and I like that feeling.
[00:46:25.120 --> 00:46:26.960] It shows me I'm growing.
[00:46:27.280 --> 00:46:34.800] And to keep people captivated for 45 to 60 minutes on stage like is a challenge and I'm and I love that.
[00:46:34.800 --> 00:46:44.080] And then of course I'm doing some investings in startups of people, founders that I love that I think are making people's lives happier and healthier.
[00:46:44.080 --> 00:46:46.320] Well, it's so amazing all you've accomplished.
[00:46:46.320 --> 00:46:50.080] We have to invite you to come speak now at our Entrepreneurs to Founders weekend.
[00:46:50.080 --> 00:46:51.520] So we're planning our next big event.
[00:46:51.520 --> 00:46:56.240] It's going to be next April, April 30th to May 3rd of 2026.
[00:46:56.240 --> 00:46:57.040] And it's in Florida.
[00:46:57.040 --> 00:47:02.560] So you don't have to go too far from five minutes from my house and at the PGA resort.
[00:47:02.560 --> 00:47:03.760] Stephanie, we're the same.
[00:47:03.760 --> 00:47:05.040] We're the same.
[00:47:05.040 --> 00:47:06.000] It's like, exactly.
[00:47:06.000 --> 00:47:06.480] Where is it?
[00:47:06.480 --> 00:47:07.360] That's my first question.
[00:47:07.360 --> 00:47:07.920] Where is it?
[00:47:08.240 --> 00:47:08.800] Don't worry.
[00:47:08.800 --> 00:47:09.760] You don't have to get on a plane.
[00:47:09.760 --> 00:47:12.800] You don't have to get a plane to take the bright line or corny will drive you up.
[00:47:14.480 --> 00:47:16.640] Yes, no, we'd love to, we'd love to have you there.
[00:47:16.640 --> 00:47:17.200] All right.
[00:47:17.200 --> 00:47:19.760] So second to last question for you, Anne.
[00:47:19.760 --> 00:47:27.120] What is your biggest business secret that you have never shared with anyone before that you want to share with all of our incredible listeners?
[00:47:27.120 --> 00:47:29.920] Oh my God, my biggest, biggest, biggest secret.
[00:47:31.560 --> 00:47:42.840] I feel like I don't have a lot of secrets because, again, I try to, I'm an open book and I try all the time, but I will, you know, I will go back to what I said, which is.
[00:47:43.160 --> 00:47:52.040] One of the great lessons for you to do, if you are trying to grow and scale your business as the CEO, you need to write down how you're spending your time.
[00:47:52.040 --> 00:47:56.680] Then I want you to think back to a year ago and write down how you're spending your time.
[00:47:56.680 --> 00:48:03.800] And if those things are the same and you're like wondering why your business hasn't grown at the level you want to, like there you have your answer.
[00:48:03.800 --> 00:48:09.160] So if you really want to grow, I want you to check in every single quarter, write down how you're spending your time.
[00:48:09.160 --> 00:48:14.680] And then even next to it, what's the financial impact to how you're spending your time as it relates to the business?
[00:48:14.680 --> 00:48:27.000] I took that so seriously, even though I didn't have a boss, it was my job and my responsibility for my team to be spending my time because I was the highest paid person with the highest, with the most amount of equity in the business.
[00:48:27.000 --> 00:48:33.400] I better be making decisions that have huge financial upside for the business, right?
[00:48:33.400 --> 00:48:40.440] The coach's job was to coach a killer class and make sure their class is full and obviously, you know, up the food chain a little bit.
[00:48:40.680 --> 00:48:43.720] Everybody has to be asking, you know, what their impact is.
[00:48:43.720 --> 00:48:46.840] But when you don't have a boss, that's for you to figure out.
[00:48:46.840 --> 00:48:54.440] And I see so many people stay, like, again, I'll speak to the fitness because that's what my business was.
[00:48:54.440 --> 00:48:59.000] But they'll be like, oh, well, if I'm coaching, you know, I don't have to pay a coach to coach.
[00:48:59.080 --> 00:49:00.120] I'm saving the company money.
[00:49:00.120 --> 00:49:03.800] And I'm like, so you're telling me that your time is $100 an hour?
[00:49:03.800 --> 00:49:06.360] Like, that's the best you can do as a CEO.
[00:49:06.360 --> 00:49:11.240] And again, a lot of people don't like hearing that, but I'm like, you have to figure out how to elevate.
[00:49:11.240 --> 00:49:15.000] And if you can't, then you need to hire a CEO who can.
[00:49:15.760 --> 00:49:22.800] And a lot of times I think that founders play small because they don't want their team to think that they're better than them.
[00:49:22.800 --> 00:49:27.040] I mean, I remember posting this photo, Courtney, of me taking out the trash.
[00:49:27.040 --> 00:49:29.920] Like, I think we had like 30, 40 studios at the time.
[00:49:29.920 --> 00:49:31.200] And I thought the same thing.
[00:49:31.200 --> 00:49:36.160] I'm like, you know, I'm never too busy to take out the trash or like, you know, I'm so grounded.
[00:49:36.160 --> 00:49:39.120] And now I look back at that and I'm like, that was so stupid.
[00:49:39.120 --> 00:49:45.680] I was like, it was like performative almost, but I'm like, if the best use of my time is taking out the trash, like, are you kidding me?
[00:49:45.680 --> 00:49:48.720] I can't do, like, that's irresponsible for my team.
[00:49:48.880 --> 00:49:50.880] Like, that is playing small.
[00:49:50.880 --> 00:49:56.720] And I got to be playing big and say, I just made a $3 million decision that's going to benefit us to do XYZ.
[00:49:56.720 --> 00:49:58.960] And now we're going to open 10 more locations.
[00:49:58.960 --> 00:50:11.760] So anyway, that's the, it's not really a secret, but it's really telling to write that down and hold yourself accountable and get real honest with the value of where you're spending your time as it relates to the impact on the business.
[00:50:11.760 --> 00:50:13.360] No, that is so important.
[00:50:13.360 --> 00:50:14.480] And last question for you.
[00:50:14.480 --> 00:50:25.600] And I feel like we could literally chat for five hours right now about all the things and doubly want to have you come speak at Founders Weekend because you have so many incredible learning lessons to share and all the advice you just shared.
[00:50:25.760 --> 00:50:27.120] I know Courtney's nodding right now.
[00:50:27.120 --> 00:50:39.360] I feel like I've learned so much just from speaking to you and we've talked to thousands of founders over the years and you are just truly incredible with everything you've accomplished and what you're doing to pay it forward.
[00:50:39.360 --> 00:50:42.400] What does being an entrepreneur mean to you?
[00:50:43.040 --> 00:50:49.760] Oh, I think the problem entrepreneur, listen, I think it's being bold.
[00:50:49.760 --> 00:50:54.800] I think that we just need women to continue to be unapologetic.
[00:50:54.800 --> 00:51:04.200] One of my favorite quotes during my time as a founder when I was getting like flack and heat during COVID for like not, you know, like I just couldn't satisfy everybody.
[00:51:04.360 --> 00:51:09.000] That was like the peak of like, oh my God, everybody has an opinion on everything I'm doing.
[00:51:09.000 --> 00:51:16.040] And I remember just being like, I will not apologize for the expectations that you have of me that I never agreed to.
[00:51:16.040 --> 00:51:17.800] I have been very clear.
[00:51:17.800 --> 00:51:23.400] My job right now is to make sure that everybody working here has a company to come back to.
[00:51:23.400 --> 00:51:26.280] So every decision I make is in support of that.
[00:51:26.280 --> 00:51:28.760] If you don't like that, I don't really care.
[00:51:28.760 --> 00:51:39.000] That is my job as this company's CEO: to make sure this company survives this very unpredictable storm that we have no ideas how long it's going to last.
[00:51:39.000 --> 00:51:41.080] So thank you for your opinions.
[00:51:41.080 --> 00:51:45.240] And if that's not okay with you, then you don't have to be here.
[00:51:45.240 --> 00:51:52.840] But I just think it's like, I see so many women still try to please everybody all the time.
[00:51:52.840 --> 00:51:56.360] And we feel badly when someone gets their feelings hurt.
[00:51:56.360 --> 00:52:02.840] And I'm like, you just have to be clear about what your vision is and that you're making decisions in support of that vision.
[00:52:02.840 --> 00:52:06.520] Everybody doesn't have to agree with you, but you are telling them what you are doing.
[00:52:06.520 --> 00:52:11.000] And just because you get an answer that you don't like doesn't mean you didn't get an answer.
[00:52:11.000 --> 00:52:12.680] And you are incredible.
[00:52:12.680 --> 00:52:18.440] Thank you for spending this hour with us right now and sharing everything with our entrepreneurs.
[00:52:18.440 --> 00:52:23.480] Where can everyone stay connected to you, find you, follow you, share all of your links, handles, website.
[00:52:23.480 --> 00:52:26.360] We'll link out to everything in the show notes so everyone can go connect with you.
[00:52:26.360 --> 00:52:28.360] Yeah, I think the best ways is Instagram.
[00:52:28.360 --> 00:52:32.120] There's so many channels that you can be on, and I find it overwhelming.
[00:52:32.120 --> 00:52:35.960] So, like, I try to post a lot of content on Instagram.
[00:52:35.920 --> 00:52:42.840] Um, and if you can just Google my name in the podcast section, I've tried to do you know as many interviews as I can.
[00:52:42.880 --> 00:52:47.840] Um, so there's a few different types of podcasts depending on what you're looking for.
[00:52:47.840 --> 00:52:48.320] Amazing.
[00:52:48.320 --> 00:52:49.200] What is what's your handle?
[00:52:49.200 --> 00:52:50.400] So, we'll link out to everything.
[00:52:50.720 --> 00:52:52.400] My name and the perfect.
[00:52:52.400 --> 00:52:54.560] All right, everyone, go ahead to the show notes right now.
[00:52:54.560 --> 00:52:56.400] Go follow Ann, send her a DM.
[00:52:56.400 --> 00:52:58.960] Sure, you just listened to this episode.
[00:52:58.960 --> 00:53:00.640] And thank you again, Ann.
[00:53:00.640 --> 00:53:03.040] I'm Stephanie, and I'm Courtney.
[00:53:03.040 --> 00:53:06.240] And this is the best business meeting we've ever had.
[00:53:08.480 --> 00:53:09.760] Hi, Entrepreneurs.
[00:53:09.760 --> 00:53:17.920] It's Steph here, and I hope today's episode has left you feeling inspired and with some actionable tips that you can apply to your own business.
[00:53:17.920 --> 00:53:25.280] The way we've grown our community and resources is by sharing content like this for years and asking for help along the way.
[00:53:25.280 --> 00:53:30.800] So, here's where we need your help so we can continue to make as much impact as possible together.
[00:53:30.800 --> 00:53:47.840] If you can leave us a five-star review and extra credit if you share this episode on Instagram, LinkedIn, or DM it to a founder friend who would benefit from hearing it, not only would it mean the world to us, but you sharing this episode is going to help someone who just may need to hear what we share today.
[00:53:47.840 --> 00:53:50.880] And you know, I love nothing more than giveaways and prizes.
[00:53:50.880 --> 00:53:57.600] So, every month I'll be giving away a one-on-one session with me to someone who has shared the episode and left a review.
[00:53:57.600 --> 00:54:00.480] So, send me a personal DM over on Instagram.
[00:54:00.480 --> 00:54:02.960] I'm at Steph Jill Carton.
[00:54:02.960 --> 00:54:05.360] Once you've done it, so you can be entered to win.
[00:54:05.360 --> 00:54:11.120] Wishing you a productive week ahead and stay tuned for another impactful episode next week.