At the age where most people retire, Bob Cheek was almost broke and miserable after a crushing 2002 state election when the former Tasmanian Liberal Party leader lost his seat after two terms in Parliament.
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To rub salt into the wounds, there was no parliamentary pension and he was managing a loss-making gym at Salamanca.
But Bob, now 78, stuck to his life-long motto, the one he got from his father: "Just stay on the bike and keep pedalling".
So at 65, he kept pedalling and launched launched a chain of 24 hour gyms. Then 37 ZAP Fitness gyms later across Victoria, Tasmania and South Australia, he sold the business for $50 million.
Bob was leader of the Opposition Tasmanian Liberal Party from August 20, 2001, until he lost his seat in the July 2002 election.
It was the first time that a major party leader lost their seat in a Tasmanian election since 1903.
Fitness has always been foremost for him. Before becoming a politician, Cheek played Australian rules football in Tasmania for Clarence.
In his new book, Dumbells to Diamonds he distils everything he has learnt about business, life and growing old, marriage, including the failures along the way.
It explores his initial forays into the fitness industry where he was running at a loss.
On a whim and desperate for change, in March 2008 Bob bought a ticket to the United States to see first-hand a new trend in fitness.
"When I walked through the door of one of the first 24-hour gyms in America on the outskirts of San Diego, I knew I was on to something. But I had to act fast and draw on everything I'd learned in business to make it work in Tasmania."
The ZAP empire was born as Bob drove his rented convertible back to LA Airport.
In his trademark wit, Bob discusses what it's like to keep the pedals turning at 78 years of age, how it took him 40 years to become an overnight success and how age is merely a number for him.
At present he is on an overseas bike tour and before leaving was doing an average of 100km a day in preparation for the month-long tour (2700km) from Dublin to Copenhagen.
Bob is hilariously honest and humbled by his many life pursuits and failures and has a wonderful perspective on what growing old looks like.
Nearly two decades after the former Liberal leader's jaw-dropping insider account of politics in Tasmania first set tongue's wagging, Bob Cheek is back with a new book that sets out his journey to mega wealth.
Just how he achieved this remarkable feat - without borrowing any money and at an age when most people are well and truly retired - is a tale of fate, humour, perseverance and tenacity.
"It took me more than 40 years of hard work to become an overnight success," Bob said.
Dumbbells to Diamonds (Hardie Grant, $35) is Bob's guide to how to succeed (and fail) at business.
It is Bob's part memoir, part self-help manual, giving readers the inside story on every embarrassing wrong turn as well as the many more inspired decisions that turn Bob into one of Australia's biggest success stories.
Like any good fitness plan, the book is divided into 33 'workouts' for would-be business tycoons.
"I turned a broken business model on its head and was running some of the most profitable gyms in Australia.
"I didn't borrow a cent either. I built the business treadmill by treadmill, and owning nothing more than an incredible brand made ZAP the success it is today.
"Talk about rivers of gold. We were sweating dollars, or at least our members were.
"Diamonds from dumbells. Who would've thought?"
Bob's workout plan for staying business fit:
1: You're never too old - it's a mind game.
2: Don't get off your bike - keep pedalling.
3: Be an inquisitive stickybeak.
4: Reach a state of comfortable anxiety.
5: If it was easy, everybody would be doing it.
6: Be a benevolent dictator early on.
7: Be an expenses bastard.
8: Work harder, as well as smarter.
9: Be wary of those boasting degrees.
10: Don't employ anyone who wants job security.
11: Don't take government handouts - be your own person.
12: Profit margins are your god.
13: Become a media company that sells your product.
14: Only cowards lose their temper.
15: Avoid business partners if you can.
16: Keep business plans short (one page of dot points).
17: Steer clear of PowerPoint presentations.
18: There's no such thing as work/life balance.
19: Avoid franchises.
20: Suspect everyone and trust no one but yourself.
Therese Murray
Wordsmith. Senior journalist. Editor. I have a proven track record in helping people and communities solve their problems. My career is all about telling stories.
Wordsmith. Senior journalist. Editor. I have a proven track record in helping people and communities solve their problems. My career is all about telling stories.
