Reflection on the Past Business Year
The past year has been tough in business, admits the Runtastic founder. He anticipates improvement by mid-2024. By then, he intends to make new investments as a Business Angel—at least two.
Portrait of an Entrepreneur and Investor
Florian Gschwandtner, the Austrian founder, and angel investor reported that 2023 had been challenging yet rewarding for him. Famous and presumably wealthy through Runtastic, which was sold to Adidas for 220 million euros, Gschwandtner continued to invest and establish new ventures. He invested in Tractive, a pet GPS tracking startup, and the professional development portal Leaders21. On “2 Minuten, 2 Millionen” — Austria’s version of the TV show “Shark Tank”—he served as an investor on the jury. He claims to have invested in as many startups as his age in years.
Continued Entrepreneurial Ventures
In addition to his investments, Gschwandtner still embraces new entrepreneurial ventures. This year he launched a new company called Foxyfitness, introducing an app called “100 Push-Ups Coach,” which assists users in counting push-ups and creates personalized fitness plans. He inquires about the other achievements 2023 has brought him.
Outlook for 2024 and Personal Life
Gschwandtner believes that by mid-2024 there will be an upswing in business, and he discusses adjusting to such tough times. He also anticipates a hopeful outlook for 2025. For relaxation, he enjoys skiing between Christmas and New Year’s, taking a break from business and emails. He looks forward to January for its fresh start and focused fitness regimen, which usually includes a juice cleanse to jumpstart the new year.
Lessons from 2023 and Plans for Learning in the Future
He shares lessons from 2023, particularly about handling inflation, interest rates, and market downturns, and highlights the importance of liquidity and a unique selling proposition. Gschwandtner expresses a desire to learn Spanish and possibly spend a few months abroad.
Reflections on Political Annoyances and Professional Pride
Gschwandtner criticizes the political focus on past issues rather than future development. He takes pride in launching his Foxyfitness apps, especially the 100 Push-Ups app, and the success of Leaders21’s digital platform.
Best Business Advice and Personal Encouragement
“Liquidity is king” is the best business advice he received this year. He shares that even on days when he lacked motivation, thanks to his sports and business buddy Franz Tretter, he found the drive to exercise.
Maximizing Extra Time
If given an extra hour each day, Gschwandtner would dedicate it to sports or meditation.
AI in the Workplace and Personal AI Hack
He discusses the use of AI in generating texts and gathering inspiration, and shares an interesting personal hack involving editing Excel files with AI technology.
Investment Goals for 2024 and Valuing Friendships
For 2024, Gschwandtner plans to invest in at least two startups and people he believes in. He also emphasizes the importance of his dear friends in entering the new year.
Optimistic Outlook
He concludes with optimism, suggesting that everything will eventually be alright, and if it’s not yet good, then it’s not the end.