races and endurance sports . In 2019 , Armstrong cofounded a venture capital firm called Next Ventures . Raising $ 60 million for investment , Armstrong has backed 20 startups so far in the sports , fitness , nutrition , and wellness markets .
A testament to the human capacity to endure , adapt , and grow amidst adversity , his story is a narrative that many leaders and entrepreneurs can relate to : the relentless pursuit of success , the harsh light of public scrutiny , and the humbling experience of failure .
During an exclusive private event with top-tier clients , TMT ’ s CEO and Founder Robin Robins sat down with the legendary cyclist , philanthropist , and investor to find out how he mentally and emotionally endured the tremendous adversity and how he managed to bounce back . Here are some highlights from that conversation .
Own It , Learn From It , And Move On
Armstrong acknowledges his mistakes ; however , he also believes these are part of what made him who he is today . He accepted the consequences of his choices , admitting , “ I knew I was going to be put into time-out .” But rather than retreating , he took his lumps and kept going . “ I messed up ,” Armstrong said . “ Look , the entire brouhaha cost me 105 million bucks between lawsuits , legal fees , loss of endorsements , settlements , and so that stung . But I ’ ve been a survivor and a fighter my whole life , and I wasn ’ t going to quit .”
Continue Doing The Things That Produce Excellent Results their health and wellness , their families , and their lifestyle , Armstrong didn ’ t do that . He focused on his family and maintained his love for cycling . He continues to cycle to this day . “ I remained optimistic ,” he said . “ I embraced the suffering and embraced my own health and wellness .”
Keep Up With Your Mental Fitness
Armstrong , who prefers the term “ mental fitness ” to “ mental health ,” continued to do the things that made him feel mentally strong . For him , this meant pushing himself physically through exercise . “ Even when I ’ m having days where I ’ m grumpy , or something ’ s on my mind , or I ’ m trying to work through something , I do the same thing ,” Armstrong said . “ I go for a long bike ride by myself and just work it out . Or I still love to swim . In these moments of getting in that zone of suffering and pushing yourself is when my brain totally turns on .”
Create An Open-Door Policy
Offering a profound glimpse into how to navigate personal crises with family , Armstrong stated that guiding his family through this storm has been the most challenging part . When he made his 2013 confession , Armstrong had three children in school and two toddlers . He faced the daunting task of explaining his actions to them .
Robin Robins , interviewing Lance at TMT ' s top-tier peer group event October 2023 in Nashville .
As the financial damage kept racking up , Armstrong worried about how he was going to feed his family . However , he continued working the processes that had produced successful results and vowed not to repeat his mistakes . “ I love process ,” Armstrong said . “ Whether it ’ s how I start my day , the process of a workout , or building a business . I decided to just keep running my routes . I knew that if I did , at some point , life would throw me a ball , and this time , I wasn ’ t going to drop it .”
Embrace The Suffering
In a time when most people would curl up in a fetal position and lose
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