My guest today has been an entrepreneur for 25 years and has no plans to stop anytime soon.
During his career, he built multiple businesses in the UK, Germany, Poland, and the United States, and currently sits on the board of directors for three companies.
His most successful venture has been Escape Fitness, which he co-founded in 1998. Since then he has grown the company from a small start-up idea into a world-renowned fitness equipment brand.
Now, let’s hack…
Matthew Januszek.
Highlights from the interview
- [07:03]: Matthew discusses the value of mentorship. He feels that guidance from other, more experienced people has been instrumental over the years in his own success. This doesn’t have to mean paying an expensive consultant — it can also mean reading books, listening to podcasts, and otherwise taking in the advice of others.
- [17:39]: “There’s no playbook. There wasn’t any playbook for this situation.” As for most businesses, 2020 was a difficult time for Matthew’s company. He estimates that 99% of their customers closed their doors abruptly, leading to unpaid invoices. While he feels his company is vulnerable right now, he’s kept plenty of cash on hand, tried to target new groups of consumers, and succeeded in positioning Escape Fitness to continue to hold on and do as well as possible into 2021.
- [27:56]: Matthew was able to pinpoint a possible silver lining from 2020: the need for fitness equipment will only increase, even if the market changes. Despite gyms, hotels, and other key customers being shut down, consumers still need to stay in shape. Whether they’re staying fit to help stay mentally healthy during the pandemic, or they’re trying to lose weight they gained from the stress of the shutdown, the industry is perennial. Staying agile and adaptive will be key for Escape Fitness’s continued success.
Resources and links from the episode
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