Podcast Summary: MBA2548 From Michael Jackson’s Bodyguard to Martial Arts Franchise Mogul with Matt Fiddes

Podcast Information
Title: The $100 MBA Show
Host: Omar Zenhom
Episode: MBA2548
Guest: Matt Fiddes
Release Date: November 18, 2024

Introduction

In episode MBA2548 of The $100 MBA Show, host Omar Zenhom engages in an extended and insightful conversation with Matt Fiddes, the owner of the world's largest martial arts franchise comprising over 1,800 schools. Matt shares his remarkable journey from starting his first martial arts school with just £100 to building a multimillion-pound empire. The episode delves into Matt's unique relationship with Michael Jackson, his strategies for business growth, the challenges he faced, and invaluable lessons for aspiring entrepreneurs.

Matt's Early Life and Starting the Martial Arts School

Matt Fiddes recounts his early struggles and determination to pursue his passion for martial arts despite lacking formal qualifications and facing skepticism from his career advisor and family.

• Overcoming Doubts:
  “Everyone's telling you you can't do that... So when your backs are against all you've got to find a way.” (03:46)

• Initial Challenges:
  Matt moved to North Devon at 16, living in a bedsit with minimal financial support. He balanced jobs as a lifeguard and a chip shop worker while nurturing his dream of becoming a full-time martial arts instructor.

• First Steps in Business:
  Saving £100 from his lifeguard job, Matt opened a business bank account and launched his first martial arts class, charging £3 per class to stabilize his income. This initiative marked the beginning of his entrepreneurial journey.
  “Between the lifeguard job... I saved £100 to open up a business bank account, which is what you needed to have back then.” (10:25)

Networking and Mentorship: Michael Jackson and Beyond

A pivotal moment in Matt's career was attending a martial arts conference in San Francisco, where he met Nicholas Coquinas, a successful business consultant who mentored him.

• Mentorship from Nicholas Coquinas:
  “He said, study the three days, take lots of notes... there was no pitching back then.” (10:25)

• Relationship with Michael Jackson:
  Matt became close friends with Michael Jackson, who mentored him on franchising and business expansion. This relationship provided Matt with unique insights and opportunities, significantly influencing his business strategies.

  “Michael turns around to me and he said... You're just not thinking big enough. You read in the wrong books, you're not studying the greats.” (25:14)

Building the Franchise Model

Inspired by Michael Jackson's advice, Matt pioneered the franchising model in the martial arts industry, scaling his business exponentially.

• Franchising Strategy:
  “He said, well, it's called franchising. And I said, well, no one's ever done that in the martial arts before because that's exactly...” (25:14)

• Standardizing the Brand:
  To maintain consistency across 1,800 schools, Matt implemented strict quality controls, including background checks, standardized training, and regular audits.

  “Every single instructor has to be signed off by me... It is difficult to do, but not.” (35:42)

• Adaptation During COVID-19:
  Matt quickly transitioned his franchises online during the pandemic, ensuring business continuity and supporting his franchisees through financial struggles.

  “Within 24 hours, we took everyone online... and we rebuilt using my own money.” (35:42)

Challenges and Controversies

Despite his success, Matt faced significant backlash and controversies, particularly in his local community and from the media.

• Local Opposition:
  Matt experienced intense negativity from his new community in Devon, including graffiti and personal attacks, largely due to his rapid success and visibility.

  “The hate was unbelievable... They graffiti the walls, kill Matt Finesse.” (18:49)

• Media Scrutiny:
  As Michael Jackson’s bodyguard, Matt had to navigate constant media attention and protect the privacy of Jackson’s children, which sometimes put him in difficult situations.

  “He would Sell newspapers... I saw them put the phone down. Gone, end of story.” (66:07)

Personal Struggles and Losses

Matt's journey was not without personal tragedies, including the loss of his mother and stepfather, which profoundly impacted his life and business philosophy.

• Loss of Loved Ones:
  Matt recounts the devastating loss of his mother to breast cancer and his stepfather's suicide, events that shifted his focus from relentless business growth to building generational wealth for his six children.

  “My biggest wake up call was losing mum... and then my stepdad... he hung himself on a tree in the garden.” (41:53)

• Mental Health:
  Matt emphasizes the importance of prioritizing health and well-being over financial success, sharing his own struggles with depression despite his material achievements.

  “Once you get past a certain net worth... number one, having all this and not having your health is pointless.” (44:16)

Lessons Learned and Advice for Entrepreneurs

Throughout the conversation, Matt offers valuable advice for aspiring entrepreneurs based on his experiences and the mentorship he received from influential figures like Michael Jackson.

• Focus on Passion and Profits:
  “What do you love to do? Turn your passion into your profession... focus on six figures profit or seven figures profit.” (72:54)

• Build a Strong Network:
  Matt underscores the importance of surrounding oneself with successful, like-minded individuals to foster growth and opportunities.

  “Your network is your network, who you hang around with... that conference was everything to me.” (22:26)

• Consistency and Repetition:
  Emphasizing discipline, Matt advises repeating proven strategies and avoiding distractions from fleeting trends.

  “Repetition is the mother of skill... study the greats and make yourself better.” (72:54)

• Due Diligence in Mentorship:
  Matt warns entrepreneurs to verify the credibility of their mentors by ensuring they have a proven track record of success.

  “Make sure you only take advice from people who earn more than you and see evidence of that.” (72:54)

• Franchise Over Employment:
  Advocating for the franchising model, Matt believes it offers scalability and minimizes risks compared to traditional employment structures.

  “Don't have employees because they're a nightmare... just franchise the thing out over and over.” (72:54)

Closing Thoughts

Omar Zenhom wraps up the episode by highlighting Matt Fidesz's resilience, strategic thinking, and deep understanding of the entrepreneurial landscape. Matt’s story is a testament to the power of perseverance, effective networking, and the importance of maintaining personal integrity amidst business success.

• Final Reflections:
  “We have to have winter so that we can have the springs so we can have the summers so that we can find those opportunities.” (83:05)

• Encouragement to Listeners:
  Omar encourages listeners to prioritize personal growth and prepare for the inevitable challenges that come with entrepreneurial endeavors, drawing inspiration from Matt’s experiences.

Notable Quotes

• Matt Fiddes on Overcoming Doubts:
  “When your backs are against all you've got to find a way.” (03:46)

• Matt on Building the Franchise:
  “We are high on the standards... that's why we've been around for these three decades now and leading the industry.” (35:42)

• Matt’s Advice on Networking:
  “Your network is your network, who you hang around with.” (22:26)

• Matt on Wealth and Stress:
  “The reality is once you get past a certain net worth... there is nothing else to do.” (44:16)

• Matt’s Entrepreneurial Philosophy:
  “Money is the byproducts of success.” (72:54)

Conclusion

Episode MBA2548 offers a compelling narrative of ambition, innovation, and the human side of entrepreneurship. Matt Fiddes's journey from humble beginnings to a global franchise mogul, intertwined with his friendship with Michael Jackson, provides listeners with both inspiration and practical strategies for building and scaling a business. The candid discussions on personal hardships and the importance of health over wealth add depth to Matt's story, making this episode a valuable resource for aspiring entrepreneurs.

For more insightful stories and business lessons, visit 100MBA.net.