Ep. 12 Blog Farshad Sarrafi | Building Partnerships and Community in the Fitness Industry with Farshad

The Virtual Ventures podcast recently featured an insightful discussion with Farshad, a fitness entrepreneur and founder of Beyond Built. The conversation focused on the importance of values and clarity in business partnerships, as well as the significance of community building in the fitness industry. Here are some key takeaways from the episode.

Building Strong Foundations for Business Partnerships

Farshad emphasizes the importance of having a foundation of values and a clear understanding when forming a business partnership, as Warren Buffett and Charlie Munger have demonstrated. He shares personal experiences of failed partnerships due to a lack of clarity and suggests dissecting each component of values, goals, and roles before forming a partnership. Farshad believes in dividing and conquering roles in a business, letting people be stars in their own roles, and acknowledging that the business will evolve and change over time. These are crucial for creating successful and long-lasting partnerships.

Long-Term Customer Relationships

Farshad acknowledges that the fitness industry focuses too much on basic habits and that there is a lot of misinformation. He believes in building long-lasting relationships with clients and champions, rather than aiming to gain the most views or customers overnight. Farshad explains that referrals can be significant in building a successful business and can lead to long-term success due to compound interest. He highlights the importance of quality customers and champions, who can become brand ambassadors and drive business growth.

Creating a Community

Building a community is seen as a key differentiator for businesses in the next decade. Farshad's business partner encouraged him to create offers to help companies build communities; they believe that it is crucial to create something that provides value to people and to build a loyal community. Farshad's business, Beyond Built, provides online coaching as its primary service and offers a supportive community for everyone to interact and learn from. The community comes from diverse backgrounds, and some participants want to get better in aspects of their lives. Members have a one-to-one experience and access to the app, which provides free resources, experiences, and teachings on training, nutrition, and psychology, among others. The community offers support and accountability, which helps people become better at creating their lifestyle and a better human with age and time. Beyond Built hosts events with a significant number of attendees. The events provide an opportunity for people to showcase their progress, compete, and connect with like-minded individuals.

Understanding Customers and Creating Emotional Connections

Farshad recommends following Coltie and Marco from Kill Crew on Twitter for insights on creating emotional connections. He emphasizes that it is crucial to understand customers' lifestyles, beliefs, and experiences to create an emotional connection and a culture of overcoming. Farshad's business focuses on evolving and delivering an exceptional experience to retain customers and create brand ambassadors. Companies like Apple and Nike succeed by evolving and developing products that are user-friendly and visually appealing. Farshad advises businesses to intimately understand their customers to give to their emotional needs and create invested clients.

Final Thoughts

In conclusion, Farshad's insights on building partnerships, creating communities, and understanding customers provide a blueprint for success in the fitness industry. His emphasis on values, clarity, and long-term relationship building is a refreshing take on business strategy that can be applied to many industries. By identifying shared values and roles, creating a supportive community, and understanding customers' emotional needs, businesses can build strong foundations and loyal customer bases. Beyond Built is a fantastic example of creating community and connecting people who share a passion for fitness and growing better, both mentally and physically.