Alright – so today we’ve got the honor of introducing you to Elizabeth Suit. We think you’ll enjoy our conversation, we’ve shared it below.
Elizabeth, thanks for joining us, excited to have you contributing your stories and insights. Often outsiders look at a successful business and think it became a success overnight. Even media and especially movies love to gloss over nitty, gritty details that went into that middle phase of your business – after you started but before you got to where you are today. In our experience, overnight success is usually the result of years of hard work laying the foundation for success, but unfortunately, it’s exactly this part of the story that most of the media ignores. Can you talk to us about your scaling up story – what are some of the nitty, gritty details folks should know about?
I started my professional career just like most, grinding a 9-5 working for someone else. I knew from early on in my life, that wasn’t going to cut it for me long term. At college age, it all seemed like a pipe dream to own my own businesses, especially because I had no idea where to start, or what I was doing. So, what did I do? I turned to what I knew being a student, I hit the books. I read every book I could get my hands on about leveling up inline overall. Mindset, entrepreneurship, investments, leadership, you name it. The more I read, the more I learned. I surrounded myself with other people that either had read those types of books, or shared the same passion for wanting more for themselves out of life. Everything I read and learned still required capital, which I didn’t have. So I kept absorbing as much as I could, knowing that one day I May have the opportunity to level up. 7 years later out of college, that opportunity came knocking, but it was an obvious one. I had been working in the corporate sector for several years at this point and was skilled at my trade in business development. It was nice to be a sought after employee. To be valued. I knew that I could leverage the value I brought to corporations. I was offered a position at a large fitness franchise’s parent company based out of Australia, new to the US market. Because of all of the absorbing and research I had done in the years leading up to this job offer, I recognized the opportunity at hand. Rather than just negotiate my salary, benefits, and sign on bonus, as any usual new hire negotiation, I looked for equity. I had learned that if I ever wanted to scale up in life, I had to look for equity in everything. It was at that point that I forfeited the signing bonus to own two territories of the fitness franchise myself. This was a pivotal moment in my future and the moment I had been waiting years for. I was ready. Although this was a life changing decision, it was a fraction of what needed to happen. I still needed capital, I still needed a lot of things to happen. So I started working for that company, and saving capital, nurturing investments, lining up my ducks, preparing to open these gyms in the next 5 years with everything I could. It was 3 years later, when I finally opened the door of my first gym, and another 8 months later after that that I was able to open my second location. These were my first steps in leveling up, or scaling my life. The subsequent steps for scaling my businesses all involved building a business that could operate and function properly without my presence considering I am currently a full time firefighter. Yes, I said firefighter. Another decision I made to enable me to build my businesses and scale. Because I am a firefighter, I do not take a penny out of the gyms. I won’t take a draw or make a paycheck until the entire initial investment is paid back in full. Something I learned while reading my books and listening to countless people’s stories.
Are there better ways to accomplish success? Or to scale? I’m sure there are, but this was my way, and it has worked for me. It wasn’t easy, it required patience and years of staying focused and driven on the same goal. Goal fatigue can set in quick, but as long as you keep your eyes on the prize, you’ll be ready when that opportunity comes knocking. Every decision I made, big or small, helped me get to the position I find myself in now.
As always, we appreciate you sharing your insights and we’ve got a few more questions for you, but before we get to all of that can you take a minute to introduce yourself and give our readers some of your back background and context?
I am a firefighter/paramedic and am in the fitness franchise industry. I am most proud of being able to leverage my knowledge and value to scale and grow my businesses. We provide group HIIT, functional movements, and a community like no other. I’m also in the midst of pursing the hospitality industry, and will soon be launching a new restaurant concept geared towards first responders and military as I’ve mentioned in previous articles. I think being so diversified as an entrepreneur and human sets me apart from others. I don’t let the constructs of a certain industry limit my ideas or goals. If I dream it, I build it.
Can you tell us about a time you’ve had to pivot?
With my upcoming restaurant, I signed a lease that was based off a build out estimate prior to inflation. once inflation hit, my buildout estimate more than tripled, putting me way over budget. I had to make an executive decision about the lease and build out, and although I wanted the space to work, I knew financially it wasn’t a good idea. I terminated the lease, and looked for a different space. One that fit my budget and numbers. Lesson learned here, don’t ever force the numbers to work just because you are attached to the idea of something. It’s NEVER too late to make a change.
We’d love to hear the story of how you built up your social media audience?
I’ve always stayed true to myself. Authenticity is key. I don’t try to share things that I think will gain more followers, I share diversified types of value. Something else to remember when it comes to social media is consistently. Post consistently, interact with your audience, and always be honest. Don’t have the time to write and post often? Hire a professional, the ROI for building your social media platforms up organically is tenfold.
Contact Info:
- Instagram: @lizsuit
- Facebook: https://www.facebook.com/egmsuit
- Linkedin: https://www.linkedin.com/in/elizabeth-suit-rn-emt-p-4a12baa1/