Before Solidcore had a single studio open, Anne Mahlum turned down $75,000 from an investor who wanted 30% of the company. She knew that money would become a crutch, so she walked away and risked everything on her own terms.
Anne is a fascinating person. She started her first business with nothing but a running route past a homeless shelter in Philadelphia. Then she built another studio. This is a replay of one of my favorite conversations on the show, and it is one I keep coming back to.
Watch the full episode here: https://www.youtube.com/watch?v=K1hSIhe6UmE
"Money for me has always been a trophy. It means I did a really good job." ~ Anne Mahlum
In This Episode:
- How strict standards built culture at Back on My Feet
- Why giving things away for free makes people value them less
- How the same culture principles shaped Solidcore
- How she negotiated 100 Solidcore locations without security deposits
- Turning down $75K to go all in
- Why founders need skin in the game
About Anne Mahlum:
Anne Mahlum is an entrepreneur, motivational speaker, investor, and philanthropist who has built two organizations from scratch. In 2007, she founded Back on My Feet, a nonprofit that uses running to help people experiencing homelessness rebuild their lives, growing it to 14 cities with an $8M annual budget. In 2013, she founded Solidcore, scaling it to over 100 locations before selling it 10 years later and sharing millions from the sale with her employees.
Website: https://annemahlum.com
Instagram: https://www.instagram.com/annemahlum
LinkedIn: https://www.linkedin.com/in/anne-mahlum/
Where to find me:
IG: https://www.instagram.com/jen_gottlieb/
TikTok: https://www.tiktok.com/@jen_gottlieb
Facebook: https://www.facebook.com/Jenleahgottlieb
Website: https://jengottlieb.com/
My business: https://www.superconnectormedia.com/
YouTube: https://www.youtube.com/@jen_gottlieb
