Exclusive to The Executive Magazine, Matt Smith—renowned entrepreneur and visionary behind Snooze Mattress Co., Snap Fitness, and Wake Up 10x—shares his inspiring journey and groundbreaking business strategies. From transforming the fitness and mattress industries to collaborating with Grant Cardone on Discovery Channel’s Undercover Billionaire, Smith’s relentless drive and innovative approaches have set new standards for success. Dive into this captivating interview as Smith reveals the keys to his diverse portfolio, the challenges he’s overcome, and his ambitious vision for the future of health and wellness.
Matt, you’ve built a diverse portfolio of successful businesses, from fitness centres to mattress stores. What key strategies have you employed to ensure success across such varied industries?
“The key to success is all businesses have the common factor of grit and putting in the work and outworkng everybody around you. Even when I met Grant Cardone, I remember him telling me, “You know the difference in your problems and mine? Mine have more zeros behind them.” But they are all the same problems that every business owner has. It’s building the muscle and learning and being relentless and achieving your goal whatever it takes. All businesses are the same. PNLs, profits and loss, good people, treat your employees good and thinking big and running fast.”
The story of how you and Grant Cardone created Wake Up 10x is fascinating. What were the most critical factors that contributed to its rapid valuation of $5.5 million, and how do you sustain that momentum today?
“The hustle. I met Grant Cardone and I thought I ran fast and this guy was a runner. Ultimately, set a goal and we wanted to build something that nobody else has done and as fast as you could. You met a lot of great people. The evaluation, I really had no idea how that was going to play out. I wasn’t a part of that. But when I found out what was going on it was great to see that. The momentum has grown with Wake Up, but as important, momentum has gone into our business Snooze where we are franchising all over the country. We are actually going to be in the UK and Ireland here soon and probably Mexico. Wake Up has contributed to the success and growth of what we are doing into franchising (www.snoozefranchise.com) and disrupting the world of sleep.”
Snooze Mattress Co. has been described as “waking up a tired industry.” Could you elaborate on how your innovative approaches, such as Pressure Mapping technology and the unique customer experience, have set Snooze apart from traditional mattress stores?
“Snooze Mattress is THE sleep shop of the future and the only sleep shop franchise in the world. We are on a mission to change the lives of 20 million people through health and sleep. We do that by creating generational health and teaching people the importance of the darkness of the room, the sound of the room, the smell of the room and fitting someone properly for the mattress itself. The biggest thing an entrepreneur, a dad, anyone needs is energy. Sleep is what creates that. We truly believe we will impact and change the world through sleep and health. Mattresses are a part of that business, but there’s a lot more to that – sleep and health. We are disrupting, we are having fun doing it in pyjamas – stay tuned! You can buy a mattress in the UK and Ireland soon! AND if anyone out there is looking for a franchise, we are primed and ready to disrupt in the UK.”
Navigating the transition from a single-store owner to franchising Snooze nationally must have come with significant challenges. What were some of the biggest obstacles you faced during this transition, and how did you overcome them?
“The biggest obstacle was systems and processes. I learned early on that passion is not scalable. I am a very passionate human and I run fast. But that is not scalable, systems and processes are. Luckily, I had been in the franchise game, currently for 17 years, and I have been in the mattress game for 25 years, so I have seen the best in both worlds and I was able to put those together. But still, just like any other business. The goal doesn’t change but every day how I’m going to get there changes, and everything I THOUGHT might work doesn’t and some things I didn’t think would work and are working right now. Master the art of the pivot and continue to run fast.”
Your involvement in Discovery Channel’s Undercover Billionaire brought substantial attention to Pueblo and your businesses. How has this exposure impacted your business operations and growth strategies?
“It’s had a huge impact. We’ve got global recognition, met people from all over the world. I’ve truly leveled up and helped other people level up. We continue to do masterminds and help people out there. I’ve been in bigger rooms than I ever could imagine as a child. It’s impacted our community. We still have people taking selfies by our building every day. It’s been a fun journey, it’s been an honor to be on. I think Pueblo is a better town because of it.”
Entrepreneurship is often a rollercoaster of highs and lows. Can you share some of the most challenging moments in your entrepreneurial journey and how they shaped your leadership style?
“People are probably the biggest challenge. There are a ton of personalities and people. Everybody is different and finding where everybody clicks and making sure they click and the more employees you have the more you’re going to have challenging people. I would say, growing the right momentum, keeping the integrity of the business and the drive every single day is probably as you continue to grow and grow through systems and processes and making sure you simplify the jobs. Brandon Dawson taught us, the business is going to change every so many years, and the people on one seat might not fit where they need to be when you become that bigger company. It’s about pivoting to that and finding the right talent to be able to take you to that next level. The biggest challenge is the unknown and that’s also the best part of it.”
Given your extensive experience in both the fitness and mattress industries, what trends do you foresee shaping these sectors in the next five to ten years, and how is your business preparing to adapt?
“We are adapting to sleep and health. The world is at an all-time high of health awareness. If it is eating right, running and organic – looking at organic mattresses and organic meats. Everything is changing. We will absolutely change with it. Health and wellness is the future and we are on a mission to make sure that as health and wellness continues to explode – sleep does too. In my opinion, that is one of the most underrated things on the planet. We will change the way people perceive and acquire sleep through Snooze Mattress Co. Even Grant Cardone when I met him slept on a $700 mattress. He’s a billionaire! He just didn’t know the difference. We will make sure everybody understands – sleep and wellness is a part of your health. The most important part.”
You emphasise the importance of family in your life and work. How do you balance the demands of being a prolific entrepreneur with your responsibilities as a husband and father?
“I wrote a book on this, Cereal Dad Prenuer and the premise of the whole book is, you’ve got to be able to balance and keep the priority the priority. As an entrepreneur, I’m always 6 months behind when I walk into this office. I’m never caught up, I’m never going to be caught up. But I know I need to be home for dinner, I need to see my kids and prioritize. If I’m going to lose anything, it’s not going to be my family. That is the most important part of life and being a part of that. Nobody ever had a regret that is I wish I would’ve made more money as a billionaire, they wish they had more time. Make sure you prioritize it. In my book I talk about bending time. Get up before they do, figure out how you can still be there and be present, but find some cheat codes in between where you’re able to do things and get business done too. Don’t give up on your dreams but family first. It’s not just a quote but everyday life.”
As someone who has successfully launched and scaled multiple businesses, what advice would you give to aspiring entrepreneurs looking to enter highly competitive industries?
“The new generation has a lot of cheat codes between AI and Google. Use it to your advantage. Outwork your competitors but don’t worry about your competitors. You should reinvent whatever industry you’re in. Think bigger than you could potentially think. Like Grant says, “Whatever you’re thinking, 10X that.” Truly know that it’s going to be hard, but roll up the sleeves and have fun doing it. It’s a journey. I’m usually one of the dumbest guys in the room, but I will outwork anybody I know. Make sure you understand, putting in the work is where you’re going to win.”
Looking ahead, what are your long-term goals for Snooze Mattress Co., Snap Fitness, and Wake Up 10x? How do you envision your role evolving as these businesses continue to grow and scale? Are there any other businesses on the horizon?
“Our North Star is going to be Snooze, Snooze Sleep and Snooze Mattress Co. We are going to be creating products that help people sleep better, help people understand how to sleep better and we will continue to franchise around the world to bring sleep shops, not just to the United States, but to the UK — once again, if you’re looking for a franchise we are coming to the UK, Ireland and Mexico! We are coming out there! Our long-term play is definitely that. Wake Up is always going to be a driving engine to help propel that. Snap Fitness is a blessing of health and wellness. That’s a franchise that I’m a franchisee of, not the franchisor. Our North Star, our team’s relentless focus is to change 20 million people’s lives through sleep and health. We will continue to do that with products, with stores, with innovation and with absolute disruption. Finding the Gary Breckas of the World and the sleep doctors of the world. We will teach the world how important sleep is to elevate this industry and add 10 years of life and create generational wealth.”
