Entrepreneurs generally haven’t gone to school for leadership, and that can be one of the major challenges they must overcome to grow their businesses. Mike Campanella is the founder of Pex Health and Fitness and is a major disruptor in the fitness industry. Mike discusses the struggles of starting to work on the business rather than in it, creating buy-in to the company’s values, and the keys to sustainably scaling your business.
Takeaways:
- It’s much more effective and endearing to lead by example rather than telling everyone exactly what they need to do. As the leader, you need to set the example so that others can follow that while figuring out the specifics.
- As an entrepreneur, you need to act as a “player-manager” because at the same time you are trying to grow the business, you also need to help the growth of your employees.
- As your team grows, you need to know that they will never care as much about the business as you do and that’s ok. Do what you can by setting the example and adhering to the values to create additional buy-in.
- Develop a “brain trust” of people that you know you can trust and who are willing to provide great advice for you and your business.
- Make sure to be aware of all the new trends in your industry. This does not mean you have to follow all of these trends, however, you need to be able to understand them and defend your own practices and processes.
- When scaling your company with investors, try to regularly meet with them to help identify new growth opportunities.
- You should have big goals for even 5 years down the road, but you should also know what sustainable growth looks like for your company in the shorter term.
Quote of the Show:
- “I can't really disrupt the market if I only have one space” - Mike Campanella
Links:
- LinkedIn: https://www.linkedin.com/in/michael-campanella-13889119/
- Company website: https://pexhealthandfitness.com/
Shout Outs:
- Entrepreneurs’ Organization
Ways to Tune In:
- Amazon Music: https://music.amazon.com/podcasts/337eea2a-f8ab-4b4f-8a36-fe4143b5913b
- Apple Podcast: https://podcasts.apple.com/us/podcast/leaders-who-scale/id1609131634
- Spotify: https://open.spotify.com/show/5PFtdxDlXcnaojG8jJk74T
- Google Podcast: https://podcasts.google.com/feed/aHR0cHM6Ly93d3cubGVhZGVyc3dob3NjYWxlLmNvbS9mZWVkLnhtbA
- YouTube: https://youtu.be/rV2GQ1ImNLI
Leaders Who Scale is sponsored by Siegel Solutions, providing world class accounting, advisory and QuickBooks and Acumatica Cloud ERP Services. Learn more at https://siegelsolutions.com/
Leaders Who Scale is produced by Ringmaster, on a mission to create connections through B2B podcasts. Learn more at https://ringmaster.com/
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