My First Million
From Nonprofit Founder To Building A $300M Pilates Business
Sep 18, 2024
Anne Mahlum, founder of SolidCore and Back on My Feet, shares her inspiring journey from launching an $8M nonprofit to building a $300M Pilates empire. She discusses the challenges of entrepreneurship, including the risks of betting her life savings on a fitness studio. Mahlum touches on the importance of negotiation skills, community engagement, and unique marketing strategies that fueled her business growth. Alongside heartfelt stories from her nonprofit work, she emphasizes the transformative power of physical activity in fostering resilience.
01:06:19
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Quick takeaways
- Anne Mahlum's journey from founder of Back on My Feet to creating Solidcore underscores the transformative power of community-centric approaches in business.
- Solidcore's rapid growth was driven by a unique blend of profitable business strategies and strong brand loyalty cultivated through community engagement.
Deep dives
Founding Solidcore and Early Success
Anne Malum founded Solidcore, a Pilates studio, after successfully raising funds and generating substantial early revenue. She bootstrapped the business, starting with an initial investment of around $100,000 and achieving sales of approximately $1.5 million in the first year. The studio's unique approach combined high-quality fitness experiences with community engagement, allowing it to quickly scale. Within nine years, Malum managed to sell the enterprise for approximately $350 million, showcasing the effectiveness of her business model and vision.
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