My First Million

#75 with Randy Hetrick - Navy SEAL To $50M TRX

May 16, 2020

Randy Hetrick, CEO of TRX Training and a former Navy SEAL, shares his incredible journey from military service to building a $50 million fitness brand. He discusses why angel investors may be better than venture capitalists, the significance of being omnichannel in business, and the mistakes MBA-educated CEOs often make. Randy also reflects on leadership challenges, the evolution of TRX through the pandemic, and the intersections of personal fitness and entrepreneurship, imparting valuable insights for aspiring business leaders.

01:07:41

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Episode guests

Randy Hetrick

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Episode notes

Intro

2min

From Navy SEAL to Entrepreneur: The TRX Journey

5min

Capital Insights for Fitness Growth

19min

The Art of Invention and Quick Design Solutions

3min

Navigating Leadership Transitions

15min

MMA, Leadership, and Entrepreneurship

14min

Innovative Business Ventures and Thoughtful Investment Strategies

5min

Navigating Financial Sacrifices in Entrepreneurship

5min

** The audio recording in the episode had some stuff ups. Sam is not interrupting Randy, it's just the audio delaying in recording. Very sorry for the listening experience, will be fixed in future episodes. ** Today's ep is possible because of Superside! Head to www.superside.com/mfm to hire a dedicated team of designers for your project! Joined our private FB group yet? It's a page where people share each others million dollar ideas or what they're already working on: https://www.facebook.com/groups/ourfirstmillion. Sam (@thesamparr) talks to Randy Hetrick (@randyhetrick) who is the CEO of TRX training (inventor of TRX Suspension Trainer), a leading global brand in physical training and the industry leader in functional fitness. Built the company from a bootstrap start up to a high growth consumer brand with 130 employees and approximately $50M in annual revenues. Today's topic include: Why angel investors are better to receive money from than VC's (6:20), Starting a physical goods business and being omnichannel (13:08), Difference between being chairman and CEO (29:08), Why institutional MBA type CEO's suck (33:07), What industries he's interested in investing in (39:32), Sam's MMA weight cut (43:34), Navy Seal and business leadership (46:25) and Randy's angel investing, selling secondary and building his personal brand (55:33).

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