What is Next After Gymshark?

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TimeStamps
0:00  - Intro: 
1:48  - How did having kids change your life? 
3:43  - The shift from fitness model to Redline Steel
5:45 - Why a steel company?
8:22 - The start of Gym Shark
8:50 - What's next after Gym Shark?

Transcript

Speaker 1: 0:10

I got to make it a mix. I gotta make it a mix. I've got a negative mega man

Speaker 2: 0:22

With Colleen.

Speaker 3: 0:25

Welcome to the corner with Collins show where you get to call in from anywhere in the world and ask cotton Wayne some questions. I'm your co-host digital Jeff and today's episode is going to be slightly different. We got a special, special guests calling in all the way from the UK. This gentleman goes by the name of Louis Morgan and is one of the original co-founders of Jim shark. A company and business that was started with Louis and his best friend were actually still in college. They went from selling t-shirts to supplements, to now becoming the most iconic brand in the fitness space. It is the number one fitness apparel brand for most gen goers and achieving a unicorn status. Also achieving a$1 billion valuation. And with all this success, Louis actually decided to leave the company he sold his shares and has moved on. The question is why you're about to hear why he made a decision. It's going to be a great conversation between Colin Wayne and Louis Morgan calling in all the way from the UK, ladies and gentlemen. Welcome Louis to the show.

Speaker 4: 1:23

Thank you for having me calling him from the UK. Appreciate it, fellas.

Speaker 5: 1:27

Absolutely. Brother, dude. It's honored to, uh, to see you again, one and a happy belated birthday.

Speaker 4: 1:34

Oh yeah. Thank you very much. I appreciate that. And I'm having a baby. I don't know.

Speaker 5: 1:37

Well, I told you my gun. No, I didn't know that. Oh, congrats brother. This is your first, right? Yeah, I've got so I've got three. So my son is 10 and I've got two girls. Um, Brie Lynn. She's about to be five in November and then Brinley just turned two. Um, so get ready, man. She's gonna, she's gonna win over your heart.

Speaker 4: 1:59

Oh man. I can't wait. So, so how did it change your life?

Speaker 5: 2:03

And I mean, it wasn't about me anymore. It was about them. My entire identity, my mind shift just totally shifted. Um, when I had my son getting out of the military was partially because of him. When I was blown up in Afghanistan in 2012, I, my son had just turned six months old and getting out of the military after three tours, I was like, all right, I've got, I've done my job. I've done my job. I've done my tours. I need to focus on him and do something a little bit safer. And um, so having kids, man, you just look at things different. It's no longer about what's in the best interest of me. Um, I'm looking long-term to make sure that they're taking care of and my kids, future kids are taking care of. And I know for me, man, like I'm a high school dropout, you know, being a fitness model coming from that side and now transitioning into entrepreneur space. I've got no contingencies. I'm all in what happens if this doesn't work, I've got to make it work. So having that focus on this is not an option. My kids, my wife, a hundred plus employees and their families rely on me is really like the identity shift of propelling me forward every single day. But I mean, dude, kids like my daughters, my son playing baseball, going to his games, watching him hit freaking home runs like it's, it's an amazing feeling. And it's just another chapter, another milestone, another page in the book. That's like something you look forward to.

Speaker 4: 3:40

I can't wait. It's going to be magical. So especially a little girl as well. They seem to get so smart so quick. And I just can't wait for it to ask me questions and need to tell her things I never learned as a kid. And that's what I'm really looking forward to. So how has, how has life changed for you then since we last met what? 2015? So six, six odd years ago.

Speaker 5: 3:59

Yeah, totally different man. Like everything from, you know, when we met, I would've met several times, but like hanging out in LA, uh, transitioned probably a year and a half later into starting a company, red line steel. And um, people thought I was crazy man in the fitness industry because you know, it's a tight community. There's not like a ton of, there's just not a ton of influencers, especially early stage. Like we go, we go old school 2011, 12, like back before Facebook even had ads and super early influencers. And there was there wasn't a lot of us. Um, but I started this business because again, I saw like, what is long-term as a fitness model at some point there's an end, there's a time stamp expiration. I'm not going to be able to be on the cover of everything when I'm 60, 50, 40, what does that look like? And so I started just soul searching. Honestly. I was like, Collin you're, uh, at that time I was like 25, 26. I wasn't that old, but I was like, what happens if you get into a car accident and your face up, you know, I'm thinking of like worst case scenarios, stuff that people really honestly don't think about. And so I was, I wanted to make sure that the only person that can control my, um, long-term is me and not somebody that's got a contract that could end it tomorrow and I've got, you know, I'm living outside of my means. Um, um, I, you know, all the cars, houses, all that other stuff. It's great and fun. But what happens when a contract gets stopped or what happens in a couple of years when, you know, things like iOS 14 and all these other marketing challenges and businesses that you have no part of are, uh, cutting contracts because they can't afford that side. So, you know, I was just looking at things completely different and started this business based on market opportunity that I saw, um, complete blue ocean market. And I don't know how it is in Europe, in the UK, but I know driving around in the U S pretty much any neighborhood you would drive through and see, uh, people's names on people's fronts, front doors. So you'd see like, or like a welcome sign or some type of custom sign on their front door. Um, does that, is that there? Do y'all have that like

Speaker 4: 6:23

Yeah, you have, you know, house names, house numbers, but it's not, it doesn't sound as it doesn't sound similar to the U S in terms of actual names, just house names already.

Speaker 5: 6:31

Yeah. So it's, it's literally every three, four doors. And so I saw it as like, um, I went on, I went on Google 2015, there was zero paid ads. So the SEO side, or, uh, the, uh, the actual keyword search, there was nobody paying for ads for like steel monograms, custom name monograms. And so I was like, man, this is a massive market opportunity. And, you know, I didn't know anything about manufacturing. Uh, I didn't know anything about the steel space, but I wasn't afraid to get started and just kind of jump in. Cause at that point I was hungry. I wanted something, I just didn't know what that was. And I'll be honest. Like I still don't know a lot about manufacturing. I know enough to look at a partner and say, these are some inefficiencies. Here's the QC, here's the root cause. This is how we correct it. Um, but I, you know, just wanted something for my own and something. And I started to learn a lot about myself and that inner peace entrepreneurship was that saving grace. It was that release of like, I woke up and I'm passionate to come to work. Uh, and I don't even, I don't even like to call it work because for me work sounds like work and this is fun. I enjoy what I do. So a lot has changed man, five, six years. What about, what about you? Like I know, uh, you know, uh, that the exit and, uh, multiple businesses, all of your real estate would love to hear more about that. Yeah.

Speaker 4: 8:00

So, I mean, when we met, uh, I mean, as you know, as you say earlier, the fitness industry is a very, very tight, what was a tight knit group of people back then? There wasn't very many people getting involved and it was a very niche market. And you know, some of the best businesses in the world come from niche markets. Right. I think that's why quite a lot of the finished industry has done very, very, very well. If you look back, you got Bradley Martin, he's doing incredible. You've got you. And there's a lot of other guys, Christian Guzman, uh, uh, there's a lot of people that are doing very well. So yeah, when back then when we started the company Jim shark, which you know, is quite globally known, but back then it was, it was nothing. It was a, it was a little tiny, um, project that myself and Ben hat and what we would just print in t-shirts drop ship in supplements. Yeah. And then from there, it kind of led on to bigger things and it's like a jigsaw puzzle, right? It's about on the floor. You don't know where to start. And all you do is get, grab one little piece and start in the corner and you just keep adding to it, keep adding to it, keep adding to it. And it's called the snowball effect. And over time, little pieces add up into big, big moves. So that became a point where, you know, it was ready for me to exit. I wanted to go and do other things. And as you know, when there were a lot of other people involved in the company, you know, you can't obligate it to stick to the one company. And, you know, you answer to a board at that point. So I wanted to go off and do other things. So I ended up doing that started a real estate company. Um, you know, housing market started flipping houses building from the ground up rental properties, got my family involved in that. Um, ended up setting up trusts for my family up to, cause I didn't want to give them cash because you know, we've never come from a wealthy background, which middle-class people. And I didn't want to give them loads of money to the point where they fought, you know, what the hell is life? What's the point I've got so much money way you even want to work anymore. You know, might go down down the route of drinking and just go off the rails. And I didn't really want that. So I made sure that their trusts where houses were put in, so they couldn't touch the money, but they always had a place to live. So they own the house that they can, you know, and houses and inflation hedge. Right? So every, uh, as time goes on, if they want to sell that house, they can always gap up to a new house because you know, the house price is increased. They're never going to be short of house. They and I took the biggest finger away from them, which is a mortgage. So I'm really happy about that. I started, I started an investment company, uh, both private and public. So I invest in the stock market, which I was just saying, it's just open like 20 minutes ago. So I'm craving to have a look to see what's going on. Um, got Bloomberg on. So, uh, yes, it's, it's really good. I want to invest in young entrepreneurs and I want to steer them to, as far as they can go and connect them to all the people that I kind of met along the way. So the journey is just beginning, you know, what's happened so far is just the start and I can't wait to continue.

Speaker 5: 10:41

Amen, man. That is awesome. I loved the way that you put that too. Especially like with the family aspect and thinking about like, that is a long-term thought process. Cause you could have easily just like most people said, Hey, here's, here's a million dollars have at it. Here's, you know, because at the end of the day, that's not much, uh, in comparison, especially with what you exited as, but thinking about what could happen if X and we don't want that to happen, but I want to take that stressor off of you just to have that heart, man, I sincerely applaud you. And it's something that like, um, more people should really truthfully admire and rewind this and listen to that again. Cause you can hear the sincerity. And more than that, he's looking beyond just the capital gains standpoint is looking at it from their wellbeing, the stressor of not having a mortgage, but making sure that also, um, it's, it's an investment into their future as well because the housing market's only going to typically increase. And so it is an investment and so hell of a job, man. I'm a super proud of you. Um, I'm curious, I, I do have a question for you, um, for Jim shark. Um, do think the relevance of timing is it from when you started with early stage influencing, do you think that it would be possible to have the same successes unicorn status if you were to open, let's just say in today's timeframe. Um, uh, do you think that that is a relative factor?

Speaker 4: 12:14

Absolutely. So look for, um, you know, look always plays a part I'm not smart enough to disagree. Otherwise look, it plays a massive part in anyone's success in anyone. That's our voice, isn't being truthful timing look, but the most important thing is any opportunity that you see you need to take. And if you don't take the opportunity at the time, you're never going to succeed. So if we had, if we were to start that company, now we may or may not succeed. I don't know. There's a lot of things. There's a lot of factors that go into that to the answer. You know, social media is much bigger now, too. There's a lot more influencers, but we hear a time where cost per acquisition of customer was very, very, very low because we were getting influencers for free. We were basically, we were, we, we were the middle brand and we used you guys by you. I mean, as you as an influencer to bring the customer to our brand. And we were just, and there was an emotional bridge there between the customer and the athlete and our brand was the middle connecting part.

Speaker 5: 13:15

I love it. This has so true. I think, uh, you know, right before YouTube hit the, there was another company. I can't remember the name, but it was, they had more capital. They had more, um, you know, proper board seats. Uh, there, I was reading this case study about it, but the timing of relevance was the internet itself. Wasn't fast enough to sustain. And so when YouTube hit, even though the other company had more funding, more, uh, backing, uh, and, and really smart people on the board, it didn't hit the same. And so I agree a hundred percent that timing relevance is critical, which is why, like my advice to anybody wanting to start a business, one, make sure that, you know, your core objective, what does that vision what's? What are you trying to do? Um, and then like make sure, you know, your avatar, who you're targeting and then like, start, don't wait for, oh, I'm going to take this course. I'm going to wait until I get, uh, you know, I'm going to wait until the new year. It's that Monday mindset. I'm going to wait until Monday to start this diet. Like, no, like starting now, uh, jump in with both feet and hopeless, hope to God you swim. And that's really the best way to learn. And you can learn a lot about yourself from just trying. And if it doesn't work, you're in the same spot you're in right now, potentially it could be worse, could be better. You never know to try

Speaker 4: 14:37

So true. So true. I think, um, procrastination is, is the worst trait that anyone can ever have. And I see it all the time. People have brilliant ideas. They go around, they ask every influential people or person on the internet and ask them, what book do you read? But all they're going to do is read the book and not action. If you don't action, anything reading the best lines in the world is completely irrelevant. You know what I mean? And I see it far too much and it really frustrates me because there's a lot, there's some very smart people out there. They just, they just lack action. And it's a, it's a killer.

Speaker 5: 15:07

I agree. So 29 right now, where do you see yourself at 40?

Speaker 4: 15:13

If I, if I'm honest with you, I don't, I actually don't like putting that type of pressure on life because what if it doesn't happen? Let's say, and then I've seen it. I've seen far too. I've seen far too many people are unhappy with a lot of money and they feel that they always want to try and beat what they've done before. And it just doesn't, in my opinion, it just, just, it just doesn't end. Well, I just want to be happy being happy. You know what I mean? If as long as I get to 14, I'm happy. Um, you know, I've got enough money to, to not care then that's, that's that's that makes me very happy. I don't want to pinpoint saying I want a million spans property. I'm sure that's going to happen. But as long as I'm happy, that's all that really matters to me. I've been happy or unhappy before in my life. It's not a good place to be. And I've seen a lot of very unhappy people.

Speaker 5: 15:58

Oh yes. Yep, yep. A hundred percent men. That's definitely a fair answer. Um, I think I'll be 90 years old in a wheelchair and still working, uh, just because I love what do

Speaker 4: 16:08

And I'll be there next year. We've gone past, did you have a hallway?

Speaker 5: 16:11

Oh yeah. Except there'll be like a hundred by then when you're 90.

Speaker 4: 16:16

Uh, it's crazy. But the beautiful thing about life is now that everyone's living so much longer, people are much healthier. Uh, the drugs are incredible that you can get to start over longer. So it's, it's, it's, it's a great time to be alive. It's very exciting.

Speaker 5: 16:29

Amen brother. Well, thank you for coming on the show. I know you've got Bloomberg to watch and stock market, so, uh, I do have one last final question for you. If you were to die tomorrow, what do you want to be remembered for?

Speaker 4: 16:44

Oh God, that's a good question. Um, I'm not Just being a Danforth person. I think that's all you can really be remembered for because as time goes on, everyone gets forgotten.

Speaker 6: 17:10

[inaudible]

Speaker 5: 17:11

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