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Ben Francis, the founder of Gymshark, shares an important message for young entrepreneurs: you don't need to be an expert, and you shouldn't underestimate the power of taking risks while you're young.
Photo: b4-business
Taking the Leap
When Ben Francis started Gymshark, he wasn't an expert in fashion or business. Yet, he took a leap of faith with his savings, which amounted to around £2,000—his entire life savings.
"I risked my life savings to do this"
This might seem like a big gamble, but Francis puts it into perspective by comparing it to the risks taken by older generations.
"It's just nothing in comparison to the risks that my grandparents and even my parents have taken"
The Underestimated Power of Youth
Francis believes that young people often underestimate the opportunities they have to take risks.
"The opportunity to take risk as a young person is something that's definitely underestimated and just isn't being spoken about enough"
Being young often means having fewer responsibilities and more time to recover from failures, making it an ideal time to take bold steps.
Examples of Young Risk-Takers
Many successful entrepreneurs took significant risks when they were young. Here are a few examples:
Mark Zuckerberg: At just 19, Zuckerberg dropped out of Harvard to focus on building Facebook. The risk paid off as Facebook became one of the most influential companies in the world.
Steve Jobs: Jobs was 21 when he co-founded Apple in his garage. Despite facing numerous challenges and even being ousted from the company at one point, his early risks and vision ultimately led Apple to become a tech giant.
Sara Blakely: Blakely was 27 when she invested her life savings of $5,000 into her idea for Spanx. Her risk and persistence turned Spanx into a billion-dollar business.
Embracing the Unknown
Francis' journey with Gymshark is a testament to the importance of embracing risk and the unknown. His willingness to risk his savings and start something new, despite not being an expert, highlights the potential that lies in taking chances. By recognizing and acting on opportunities when you're young, you can pave the way for significant achievements.
Conclusion
Ben Francis' advice is clear: don't wait to become an expert or for the perfect moment. Take risks while you're young and embrace the opportunities that come your way. The willingness to take bold steps can lead to remarkable success. So, if you have a dream or an idea, now is the time to act on it—just like Ben Francis did with Gymshark.
Listen to Ben Francis:
Source: Mulligan Brothers Interviews "You don't need experience to start a business - Ben Francis Advice"
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