💰 In this episode, I interview Toby Pierce, creator of one of the biggest fitness apps, sold for over $400 million.
📈 Toby made his first million through eBooks by selling workouts and nutrition advice starting in 2013. He utilized Facebook ads and email campaigns effectively during this time.
📚 The eBooks were significantly longer than competitors', with the first version being around 250-300 pages. They focused on educating users about workout programming and progression, which helped users achieve results.
🏋️♀️ Toby emphasized breaking down educational barriers to increase confidence in exercising, leading to better results and word-of-mouth referrals among women.
📱 On January 1, 2014, they launched the first workout book, leading to a rapid growth trajectory. Within 2 years, they were on track to generate $25 million annually from eBooks.
🛠️ They transitioned to a subscription-based mobile app, initially facing challenges but eventually expanding to over 190 countries and generating $100 million in revenue.
💡 Toby suggests focusing on e-commerce and building a social media-driven brand to make your first million today.
⚠️ He reflects on the importance of developing people management skills and understanding true customer desires beyond just complaints.
🤔 Toby believes that while money can't buy lasting happiness, having enough can alleviate financial stress, allowing for a more fulfilling life.
🕰️ After his exit, Toby realized the importance of time and the value of the experiences gained during his entrepreneurial journey.
🌱 If given the chance to start over at 18 with all his knowledge, Toby would consider it, valuing the potential for growth and learning.