Tobi Pearce, founder of global fitness platform Sweat, joined The Mentor with Mark Bouris to talk about the origins of the business.
He started out as a personal trainer, struggling to find ways to earn more money with his time and scale his offerings.
“Being a direct human to human service, I could either charge more per hour, which wasn’t the best choice as I’m shrinking the size of my total addressable market because not everyone has that much free-flowing cash, or I could decrease the price and do group sessions of training which would mean I’d be massively scaling my ability to service more people and massively scaling my hourly rate,” Tobi said.
“And it inevitably got the the point where I could hire other people and didn’t have to be at all the classes.”
“People talk about growth in a business, and it’s about achieving scale,” Mark Bouris added.
“And you have to have the mathematical formula to achieve scale.”